Latin America Market Insights on 3D Printing: Insights & Forecasts, 2018-2024: Emphasis on Component ((Product (Professional/Industrial Printer, Personal/Desktop 3D Printers), Material (Polymer, Plastic, Metals and Alloys, Ceramic, Other Materials),

SKU ID : UMI- 13099216

Publishing Date : 01-Sep-2018

No. of pages : 135


  • Latin America 3D printing market is segmented based on component, sub-component, technology and industrial verticals. Product (industrial and desktop printer), material (polymer, 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 Latin America 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 30.7% 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 Latin America 3D printing was valued at US$ 26.3 Million in 2017 and is projected to derive US$ 167.2 Million revenues by 2024 witnessing astonishing CAGR of 30.4% 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$ 33 Million revenues during 2017. Based on technology, the Latin America market is segmented into stereo lithography, selective laser sintering, electron beam melting, fused deposition modeling, laminated object manufacturing and others. In 2017, Fused Deposition Modelling technology dominated the regional 3D printing market, and is expected to maintain its dominance throughout the analyzed period. It is projected to reach US$ 569.2 Million by 2024 showcasing significant CAGR of 29% during the analyzed period. Furthermore, depending on application type, the market is further classified into Functional Parts, Fit and Assembly, Prototype Modelling, Education, Metal Casting, Metal Casting, Visual Aids and Presentation Modelling. During 2017, functional parts occupied the largest share of 33.8% followed by Fit and assembly application type in regional 3D printing market.
    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$ 347 Million in by 2024 displaying tremendous CAGR of 29% during the forecasted period in Latin America 3D printing market.
    3D printing in Latin America is slowly gaining the traction, and is still at the nascent stage of growth potential. With the rapid growth of additive manufacturing, handful of 3D players have taken keen interest in the region and are constantly exploring the investment opportunities in South American marketplace. 3D Printing has also revolutionized remarkably, displaying promising advancements in medical and dental arena with the booming concept of orthodontics specifically in Brazil. However, high cost involved in 3D printing, skill shortage faced by the region in 3D printing, political and economic issues in terms of painful transitions from economic prosperity to slowdown and meltdown and being the most economically volatile regions of the world encompass as some of the bottlenecks in the success path of 3D printing in Latin America. Hence, promoting the efficient adoption of digital and automation technologies in the region needs to be addressed.
    Also, for better understanding of 3D printing market penetration, the market is analysed in different countries such as Brazil, Argentina, Chile and Rest of Latin America. Based on estimation, Latin America accounted for revenue share of 5.6% in 2017. Increasing industrial base, surging investments by major competitive peers, technological advancements and rapid adoption of the advanced technique among various industry verticals specifically healthcare would help the Latin America region to grow at a faster rate during the analysed period. Latin America pose the reasonable CAGR growth in terms of 3D printing on account of continuous expansion and development of industrial sector in the respective region. Brazil led the Latin America region and contributed around US$ 166.4 Million in 2017 towards regional 3D printing sales and is further projected to garner US$ 925.3 Million by 2024 registering substantial CAGR of 28% over the period.
    Considering the presence of 3D printing players in Latin America 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.