MENA 3D Printing Market Research Report Forecast from 2019 to 2023
The Middle East and North Africa 3D printing market is segmented based on component, sub-component, applications, and technology and industrial verticals. Product (industrial and desktop printer), material (polymer, plastics, metal & alloy, ceramic and other) and services are the types of components considered while analysing and defining the penetration of 3D printing technology in different geographies and countries. In 2017, product segment dominated the Middle East and North Africa 3D printing market with maximum share in terms of revenue. Based on estimation, the segment occupied for around 36.8% share in the same year. However, increasing demand for desktop printers would help the product segment to grow at a faster rate of 30.4% during the forecast period (2018-2024).
3D printing offers integration of metals & alloys with other raw materials as per the requirement of the end-user industry, to create specified 3-dimensional objects. During 2017, polymer held prominent share of 33.5% followed by plastic which held 30.6% during the same year. Polymer market in MENA 3D printing was valued at US$ 31 Million in 2017 and is projected to derive US$ 191.1 Million revenues by 2024 witnessing astonishing CAGR of 29.9% during the forecasted period. Numerous industrial sectors are influenced by 3D printing solutions. In addition, Custom Design and Manufacturing held more than 50% share and garnered US$ 38.9 Million revenues during 2017. Based on technology, the Middle East and North Africa market is segmented into stereo lithography, selective laser sintering, electron beam melting, fused deposition modeling, laminated object manufacturing and others.
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Considering the presence of 3D printing players in Middle East and North Africa region, 3D Systems Corporation, Arcam AB, Royal DSM N.V., ExOne Company, Autodesk, Inc., Stratasys Ltd., Organovo Holdings, Inc , Hoganas AB, Mcor Technologies Limited and Voxeljet AG, constitute as some of the prominent players operating in 3D space. The players consistently aim to focus on product development, launch new products and enhance their existing portfolios to expand their customer base and strengthen their market position through partnerships and collaborations which further offers them growth opportunities for geographic expansion.
Moreover, benefits of 3D printing can also be witnessed among various industry verticals such as Education, automotive, aerospace & defense, healthcare, consumer goods, manufacturing, construction and others where the additive manufacturing has turned out to be a game changer. Automakers and raw material suppliers for manufacturing sector have realized the benefits of 3D printing solutions, eventually increasing the demand for 3D printing solutions in these industries. In the automotive industry, the use of 3D printing technology has been successful in bring about new shapes to the industry, allowing the industry to produce lighter and more complex structures at affordable price ranges. Manufacturing sector was accounted as the fastest growing industry vertical in terms of its applications in 3D printing. Based on estimation, the respective segment is projected to generate revenue of US$ 396.6 Million in by 2024 displaying tremendous CAGR of 28.5% during the forecasted period in MENA 3D printing market.
Middle East and North Africa has displayed notable growth in 3D domain and is poised to spiral to new heights in years to come. Although 3D printing in Middle East and North Africa region is at nascent stage, countries as well as the companies of the region are in a pace to seize the opportunities arising from technological breakthroughs and which is witnessed among various industry verticals such as construction, healthcare and aerospace &defense. Apart from this, innovative and potentially transformative 3D printing deployments among medical suppliers, electronic manufacturers, and tools and components manufacturers also showcase rising acceptance.
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Also, for better understanding of 3D printing market penetration, the market is analyzed in different geographies and countries comprising of Middle East and North Africa (UAE, Saudi Arabia, Qatar, Kuwait, Egypt, Algeria and rest of MENA. Based on estimation, Middle East and North Africa accounted for revenue share of 6.6% in 2017. Ever expanding manufacturing domain, supportive government policies in regard to 3D printing coupled with increasing Research and Development in advanced technology has exorbitantly proliferated the 3D printing market in the region. Spending on 3D printing in MENA region is also set to increase from US$ 0.47 Billion in 2015 to US$ 1.3 Billion by 2019 registering astonishing CAGR of approximately 31% over 2015-2019 period outperforming the worldwide growth rate of around 27%. Countries such as Saudi Arabia and UAE are actively operating in 3D technology wherein several initiatives from research and development aspect have been undertaken to revolutionize the advanced technology applications in the region. United Arab Emirates led the Middle East and North Africa region and contributed around US$ 66.3 Million in 2017 towards regional 3D printing sales and is further projected to garner US$ 386.4 Million by 2024 registering substantial CAGR of 28.8% over the period.
Some Major TOC Points:
MENA 3D Printing Market Report (Status and Outlook) 2019
1 Market Introduction
2 Legal & Regulatory Framework
3 Research Methodology Or Assumption
4 Industry Performance
5 Executive Summary
6 Market Overview
7 Market Insights By Deployment Type
8 Public Cloud Insights By Services
9 Private Cloud Insights By Services
10 Market Insights By End User Industry
11 Market Insights By Country
12 Competitive Scenario
13 Company Profiles
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