MarketsandMarkets published a new market research report, "Global Additive Manufacturing Market (2012 - 2017), By Application (Medical Devices, Automotives, & Aerospace) and Technology (3D Printing, Laser Sintering, Stereolithography, Fused Deposition Modeling, Electron Beam Melting, & Tissue Engineering)".
The market is expected to grow at a CAGR of 13.5% from 2012 to 2017 to reach $3.5 billion by 2017.
A large number of technological innovations in additive manufacturing procedures have been witnessed in the past years, with newer technologies coming up with rapid and accurate development of products in a cost-effective manner contributing to encourage widespread adoption of the additive manufacturing procedures by manufactures worldwide, the report says.
New and improved technologies, financial support from governments, large application area, rapid product development at a low cost, and ease of development of custom products are the major drivers that are slated to propel this market. However, a few pivotal factors restraining the growth of this market are regulatory hurdles in different countries, material characterization during development, and process control and understanding.
For more information, visit MarketsandMarkets.
Sources: Press materials received from the company and additional information gleaned from the company's website.