3D Printed Footwear Market worth US$3,296.967 million by 2027
Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market of the “3D Printed Footwear Market – which is forecasted from 2022 to 2027”.
The primary factor influencing the growth of the 3D Printed Footwear market Include the innovation and technology of customizing footwear based on consumer needs and an increase in demand for new products in the market are expected to drive the global growth of the 3D Printed Footwear Market.
As per the report, the 3D Printed Footwear Market is projected to grow at a CAGR of 21.77% to reach US$3,296.967 million by 2027, from US$830.630 million in 2020.
One of the major drivers of the 3D-printed footwear market is the rising emphasis on customized 3D-printed footwear. Distributors in the industry use a variety of strategies to increase their profits. Another strategy is to sell personalized and customizable editions of 3D-printed footwear. Students from various campuses also focus on building 3D-printed shoes that can be customized. As a result, increasing adoption of personally tailored 3D-printed footwear is expected to boost sales of such models while also propelling the global 3D-printed footwear market forward during the projected period.
Time-Consuming production technology for customising 3D printed footwear and using old production methods are expected to stymie the market growth of the 3D printed footwear market.
Based on Technology the 3D printed footwear market is categorized into Vat Polymerization, Powder bed Fusion, Filament Extrusion and Material Jetting. Among the segments, VAt Polymerization is expected to dominate the global market for 3D Printed Footwear because it is the most commonly used process for curing resin (liquid photopolymer) with light. It is the oldest and most dependable 3D printing technology available. The advantage of this technique is that the fixed part of the product can be made entirely airtight and watertight. As it becomes more widespread and used, it is projected to boost the 3D printed footwear market.
Based On Material the 3D printed footwear market is divided into Polyurethane and Thermoplastic Polyurethane (TPU). Thermoplastic Polyurethane is a thermoplastic elastomer with properties such as elasticity, oil absorbency, resistance, transparency, and breathability. This material can be used on almost every part of a shoe, making it highly efficient to work with and thus expected to boost both the segment and the 3D printed footwear market. The TPU has the most significant share of the projected timeline in the 3D printed Footwear Market.
Based on Application the 3D printed Footwear market is segmented into Insole, Midsole and Uppers.The 3D printed Uppers are expected to hold a significant portion of the market because they can be formulated from almost any material and are also the part of the shoe that is more visible to the user because it is located at the top of the shoe. It entices users to use 3D printing technology and customized designs, which is expected to increase demand for the technology and drive the global 3D printed footwear to market.
Based on Geography North America, South America, Europe, the Middle East and Africa, and Asia Pacific are the regions that make up the 3D Printed Footwear market. North America is anticipated to witness significant growth share of the 3D printed footwear market due to technology adoption, government initiatives to boost 3D printing technology, and the garment and fitness industries adopting 3D printing technology in the region, all of which are expected to drive the growth of the 3D Printed Footwear Market in North America over the forecasted period.
As the part of the report, the major players operating in the 3D Printed Footwear market, that have been covered are 3D Systems, Inc., Javelin Technologies Inc., Prodways Group, and BASF.
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This analytic report segments the 3D Printed Footwear market on the following basis:
- By Technology
- Filament Extrusion
- Vat Polymerization
- Powder Bed Fusion
- Material Jetting
- By Material
- Thermoplastic Polyurethane (TPU)
- By Application
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- North America