3D Printing Spending in Asia Pacific Region to Grow to $ 4.3 Billion by 2019

According to a report by market research company International Data Corporation (IDC), 3D printing spending in the region Asia Pacific excluding Japan (APeJ) will reach $ 4.3 billion by 2019, growing at an CAGR of 23%.

The report investigates the adoption of 3D printing based on used cases across several industries, with discrete manufacturing being the leading market in 2015, with a market share of over 60%. Aerospace and defence is accounting for more than 20%, with a boom of the aviation industry led by China and Singapore.

“Companies in this region have the capital to invest in 3D printers but have yet to fully utilize the printers to the point of continuous use for production indicating a relatively lower print volume. IDC expect to see stronger growth in the coming years as organizations explore the use of 3D printers unique to their markets,” said Rachel Selvaranee, Market Analyst of IDC’s Imaging, Printing and Document Solutions research.

According to IDC, 3D printed tools and components will reach a 23% share by 2019, while the dental sector is forecasted to growth at at CAGR of 26% over the next four years.

China is expected to be the frontrunner in 3D printing in the APeJ region due to the support of the government’s Made in China 2025 initiative, that promotes high-tech manufacturing in key sectors including aerospace, aviation and automotive as well as education.

“Supportive government policies and research funding from countries like Singapore, China, Korea, Taiwan and Australia are the backbone of the exploration 3D printing in Asia. With this support, 3D printing will fuel growth for innovation in steering the region to increased efficiency and productivity gains,” said Selvaranee.