India's 3D printing market expected to reach $62 M

Jun 13, 2016

While Europe and North America have dominated the 3D printing industry in recent years, the accessible nature and potentials of additive manufacturing technologies have meant that other parts of the world have also begun to innovate and stake their place in the growing industry. In China, for instance, local 3D printer manufacturers are gaining prominence within the country as their technologies continue to advance at rapid rates. In India, as well, 3D printing is becoming more viable as local 3D printer start-ups begin to emerge and demand for the technology rises.

In fact, and according to market intelligence solutions firm 6Wresearch, India’s 3D printing prototyping and materials market is expected to reach $62 million by the year 2022. Like everywhere else, 3D printing is offering a diverse range of Indian industries a more cost and time efficient manufacturing process. Industries and fields that could seek to gain from the innovative manufacturing technology include education, healthcare, arts, architecture, and industrial manufacturing. As 6Wresearch’s report finds, both the 3D printing prototyping service market and industrial manufacturing applications for the technology are on the rise.

Rajat Kharbanda, senior consultant at 6Wresearch says, “Architectural, education, arts, automotive, fashion and consumer electronics are the leading applications for 3D printer prototyping market, wherein consumer electronics presently accounts for the major share. In addition to, automotive and industrial end users are increasingly opting for high-end 3D printers.” Kharbanda added that companies like Stratasys and 3D Systems are the popular choices for professional prototyping 3D printers.

The growing 3D printing trend of industrial manufacturing in India is largely owing to the decreasing prices of state-of-the-art industrial 3D printers as well as the growing market for them. In terms of materials, the 6Wresearch report showed that in India the highest demand was for Polyactic Acid, better known as PLA, and Acrylonitrile Butadiene Styrene (ABS) - two of the most standard plastic 3D printing materials. In line with this, the most popular 3D printing technology used in India is Fused Deposition Modeling (FDM).

6Wresearch also identified India’s market leaders in the 3D printing prototyping industry, listing them as Altem Technologies, Imaginarium, and Novabeans Prototyping. In addition to these were Think3D, MyObjectify, Stanley 3D Tech, 3D Spectra Technologies, and LBD Makers Technology.

The report, entitled “India 3D Printer Prototyping and Materials Market (2016-2022)”, argues, "Although, India 3D printer market is presently at nascent stage; however it holds tremendous potential for the manufacturers, local assemblers and distributors. In Indian market, 3D printer prototyping is an emerging concept, where in last three years several start-ups have emerged across the country. 3D printer prototyping service market is expected to gain grounds in applications pertaining to education, medical, arts and architectural. However, the trend is now rapidly shifting towards industrial & manufacturing application owing to growing awareness and declining prices for industrial 3D printers."

Source: 3ders.org