MENA 3D Printing Market is expected to exceed US$ 1 Billion by 2025 |CAGR: 12.7%| UnivDatos Market Insights
NOIDA, India, Oct. 5, 2020 /PRNewswire/ -- UnivDatos Market Insights released a report titled "MENA Market Insights on 3D Printing By Component, Technology Application, End-User and Region - Current Analysis and Forecast (2019-2025)." MENA Market Insights on 3D Printing stood at US$ 521.4 million in 2018 and is expected to reach US$ 1,374 million at a CAGR of 12.7% during the forecast period 2019-2025.
Market Dynamics
The major factors driving the 3D Printing market include the rising construction activity, particularly in Dubai. As per the Dubai 3D Printing Strategy, reduction in the labour costs and time, a decline in the errors, customization of the products was the major factor considered for the adoption of the technology in the construction sector. Some of the factors driving the MENA 3D Printing market include the recent announcement by the governments of several MENA regions.
- 25% of buildings in Dubai to be based on 3D printing technologies by 2030,
- AED 1.7 billion (USD 460+ million) value for the 3D printed medical products by 2025
- AED 2.8 billion (USD 760+ million) value for the 3D printed consumer products, like household items, jewellery, games, optics, etc. by 2025
For a detailed analysis on the MENA Market Insights on 3D Printing browse through https://univdatos.com/report/mena-market-insights-on-3d-printing-insights-and-forecasts-2019-2025
COVID-19 Impact on MENA Market Insights on 3D Printing
In the MENA region, the various 3D printing startups have turned to contribute to the fight against the Coronavirus. For instance, Jordan based Eon Dental is collaborating with the Royal Scientific of Jordan and other 3 for the development and production of the consumables and spare parts of the ventilators by reconfiguration of its machines to prints thousands of parts daily. Besides, with the increasing demand for physical protective equipment, Immensa produced 15 face shields on the first day in February and now produces 10,000-12,000 daily using 3D printing technique amid COVID-19.
For a detailed analysis of the product types in MENA Market Insights on 3D Printing browse through https://univdatos.com/report/mena-market-insights-on-3d-printing-insights-and-forecasts-2019-2025
MENA Market Insights on the 3D Printing report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
Based on the component, the market is primarily bifurcated into
- Product (Professional/Industrial 3D Printers, Personal/Desktop 3D Printers)
- Material (Polymer, Plastic, Metal and Alloys, Ceramic, Others)
- Service (Custom Design and Manufacturing, After Sales Service)
- Others (Software)
The product segment dominated the market and is expected to remain dominant throughout the forecast period 2019-2025. The product segment is expected to capture almost 34% of the MENA 3D printing market by the year 2025. Based on the product (printer), the market is segmented into Professional/Industrial Printers and Personal/Desktop 3D Printers. Professional/Industrial Printers accounted for more than 80% in 2019 and expected to maintain its dominance throughout the analyzed period.
Based on technology, the market is fragmented into
- Fused Deposition Modelling
- Selective Laser Sintering
- Stereolithography
- Electron Beam Melting
- Laminated Object Manufacturing
- Others
Fused Deposition Modelling occupied almost 25% market share in 2019 owing to the cost-effectiveness and being one of the user-friendly technologies that are widely used to create 3D printed objects. However, Bio Printing market is expected to witness the highest CAGR over the forecast period due to increased utilization of 3D printers in the healthcare industry.
For a detailed analysis of the technologies in MENA Market Insights on 3D Printing browse through https://univdatos.com/report/mena-market-insights-on-3d-printing-insights-and-forecasts-2019-2025
Based on application type, the market is primarily segmented into
- Functional Parts
- Fit and Assembly
- Prototype Modelling
- Education/Research
- Model Casting
- Visual Aids
- Presentation Modelling
- Other Applications
The functional parts dominated the market with 34% in 2019 owing to its fast speed, quality, and low cost of additive manufacturing. The metal casting integrates the cooling channels of any complexity into the design of a die carrying several advantages such as design flexibility, fast, even process, and increased performance.
Based on end-user, the market is bifurcated into
- Aerospace & Defence
- Healthcare
- Manufacturing
- Automotive
- Consumer Goods
- Educational
- Construction
- Other Industries
The manufacturing industry held almost 20% market share in 2019 and is anticipated to maintain its dominance throughout the forecast period 2019-2025 owing to the boosting digitalization wherein 3D printing solutions have paved the way for manufacturing companies.
For a detailed analysis of the End-users in MENA Market Insights on 3D Printing browse through https://univdatos.com/report/mena-market-insights-on-3d-printing-insights-and-forecasts-2019-2025
MENA Market Insights on 3D Printing Geographical Segmentation Includes:
- United Arab Emirates
- Qatar
- Saudi Arabia
- Kuwait
- Egypt
- Algeria
- Rest of MENA
UAE dominates the MENA 3D printing market and is expected to retain dominance throughout the forecast period. In 2019, UAE accounted for 18.5% of the MENA 3D printing market and is expected to hold nearly 20% of the market share by the year 2025.
Request for the sample of the Report browse through https://univdatos.com/report/mena-market-insights-on-3d-printing-insights-and-forecasts-2019-2025
The major players targeting the market includes
- 3D Systems Corporation
- Arcam AB
- Royal DSM N.V.
- Stratasys Ltd.
- Autodesk, Inc.
- The ExOne Company
- Höganäs AB
- Organovo Holdings, Inc.
- Mcor Technologies Ltd.
- Voxeljet AG
The competitive landscape has been provided pointing out the position of the key market players in the market along with the market share held by the major player. These players are constantly working on expanding the market reach through M&A's along with partnerships. For instance, in 2019, 3DVinci Creations and Ai Build Sign Agreement to Expand Large-Scale 3D Printing Use in the UAE. WinSun agreed to provide 100 3D Printers to the Saudi Arabian Contractor for 1.5 Million New Homes.
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