OEM and Service Provider Revenue from Downstream Services will Exceed $3 Trillion by 2030, finds Frost & Sullivan
According to the market research report "3D Printing Market by Offering (Printer, Material, Software, Service), Process (Binder Jetting, Direct Energy Deposition, Material Extrusion, Material Jetting, Powder Bed Fusion), Application, Vertical, and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the 3D printing market is expected to be worth USD 32.78 Billion by 2023, at a CAGR of 25.76% between 2017 and 2023. The growth is attributed to the factors such as the ease of development of customized products, ability to reduce overall manufacturing costs, and government investments in the 3D printing projects for the development and deployment of the technology.
Growing demand in the logistics industry, globally for unitizing items on a pallet through wrapping and increasing preference for packaged food are projected to be the key drivers fuelling the global stretch films market, expanding at a moderate CAGR of 4.6%. From an estimated value of more than US$ 8.06 Bn in 2018, revenue from the sales of stretch films is projected to cross US$ 12.59 Bn by 2028, during the assessment period of 2018-2028. Moreover, burgeoning consumption in the retail sector as a preferred packaging material, is further contributing to the growth of global stretch films market, predicts Future Market Insights.
FMI's recently published report on the global stretch films market, offers a 10-year forecast, delivering critical insights on market dynamics influencing the growth of the market. The report also assays a comprehensive competitive landscape offering insights on key market leaders and their forward market strategies, defining the future course of the stretch films market.
According to a new market research report "Solvents Market by Type (Alcohols, Ketones, Esters, Glycol Ethers, Aromatic, Aliphatic), Application (Paints & Coatings, Polymer Manufacturing, Printing Inks), Source (Petrochemical-Based, Bio & Green), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is projected to reach USD 57.34 billion by 2023, at a CAGR of 3.9% from an estimated value of USD 47.37 billion in 2018.
According to the New Research Report by TMR, the global 3D printing market will rise at an impressive 18% CAGR between 2017 and 2025. At this pace the market will reach US$32.3 bn 2025 from US$7.3 bn in 2016. The global 3D printing market is still at its budding stage hence with the entry of new players the competition is likely to get fiercer in the coming years. Furthermore, the rising research and development initiatives will bring about various innovations, subsequently enabling the global 3D printing market gain significant momentum.
According to the new market research report on "Biocompatible 3D Printing Materials Market by Type (Polymer, Metal), Application (Implants & Prosthesis, Prototyping & Surgical Guides, Tissue Engineering, Hearing Aid), Form (Powder, Liquid), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is projected to grow from the estimated USD 308.1 million in 2018 to USD 832.7 million by 2023, at a CAGR of 22.0% between 2018 and 2023. The demand for biocompatible 3D printing materials, particularly in the implants & prosthesis application, has increased gradually. The tissue engineering application is expected to witness the highest growth during the forecast period.
The global composites market size is expected to reach USD 130.83 billion by 2024, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 7.8% over the forecast period. Rising demand for lightweight materials from automotive and aerospace industries is likely to drive market growth.