Category : Blog
According to the Corporate Annual Growth Rate (CAGR), the 3D printing industry has grown by 25.9% in the year 2015 leading to an industry of $5.165 billion. Additionally, it is expected to grow more than 31% per year between 2014 and 2020 to eventually generate over $21 billion in worldwide revenue.
3D Printing in India
In India, 3D printing is emerging as a new innovative and attractive market as it leaves you in wonder as to how basic 3D printers can give form to your imagination in a matter of hours depending upon the complexity of your design. India has seen boost in the number of people taking interest in 3D printing with the emergence of local 3D printer manufacturers. Basic 3D printing and DIY kits are being sold at a starting price of Rs 20,000/-.
Indian market has not completely adopted higher end AM systems. Every year service bureau are growing rapidly in India. Where nowadays, Indian market for AM products and services is 3.3% of total Asia Pacific market, in India 3D printer market is projected to cross $79 million by 2021.
Additive manufacturing in India by Industries:
According to the AMSI Survey of 2016, the academics is the sector being served by 3D printing technology the most by accounting to around 27% of the 3D printing market in India. The other sector are the Service Bureaus with around 18%. The rest of the industries being Automotive industries, Consumer products, aerospace and others.
Innovation: 3D printing has brought a boom in the innovation of new 3D printed products. 3D printing is helping innovation reach new horizons as new ideas are being implemented in creative ways. Following is an image of a bike accessory 3D printed at Botshape.
Research: A lot of research is being carried out in the 3D printing sector as more companies are taking interest in this sector and new companies emerging to invest upon this innovative newly emerging technology. Following is an image of a 3D printed human skull printed from CT Scan for research purpose in the medical field.
Affordability: 3D printed products are affordable with low margin as the raw material for 3D printing is easily available at reasonable prices and the cost of production is not heavy as compared to the amount customization available in 3D printed products. Above we share an image of a 3D printed Medical Prosthetics hand for Nepal’s Earthquake Victim. We have come across several engineering and architectural colleges in Delhi who are executing their semester projects through 3DP.
Sharing Ideas: 3D printing has paved a new way for the innovation junkies and the idea sharing community as people are coming together to share their experiences and ideas in the field of 3D printing.
Ease with Complexity: 3D printing has brought in a new wave of innovation and ease of complexity to go together as people are coming up with creative ideas to make this happen. One of the example is modified air intake system for a formula student team that is based out of Delhi.