With a growing focus on Make In India, 3D printing-the the alternative to manufacturing-is likely to make a breakthrough in 2016.
3D printing has been around since the late 1980s. But go back two or three years and ask analysts and companies whether 3D printing is at its peak; their answer would have been an overwhelming and unanimous "Hell, yeah!" But companies mostly ended up making manufacturing prototypes in industries, with no real progress in enterprises. Because of this, 2015 did not turn out to be the best year for 3D printing, with high expectations once again in 2016.
When we look at the 3D printing market across the globe, India features in the top 10 countries with 7 manufacturers, according to Aniwaa 3D Printing Market Watch report. US, China, and Germany top the list with 66, 42, and 22 manufacturers, respectively.
"The adoption of 3D printing in India is still at an early stage when compared to other parts of the world; but manufacturers across verticals are seeing the benefits of 3D printing and the value it brings, particularly for advanced applications," said Rajiv Bajaj, general manager at Stratasys India, in an interview with Channel World India.
According to 6WResearch in their report "India 3D Printer Market (2015-2021)," the expiration of key patents, low production cost, and advancements in material research will drive the 3D printer market in India.
In addition to these, Make in India, an initiative by the Narendra Modi-led government, will also play a role in expanding the market reach of the technology, where the demand in India will mostly come from Tier-I cities.
"With the growing focus on Make in India, we see a lot of Indian manufacturers placing emphasis on producing goods locally. With so much production in the pipeline, manufacturers would need a technology which is both cost and time effective," Bajaj said.
According to the 6WResearch report, the total Indian market for 3D printing will be around $79 million by 2021, of which automotive applications will account for the majority.
Currently, India primarily imports 3D printers from China, the US, and Germany, but various government initiatives aiming to boost domestic manufacturing will result in more local device creation over the course of the forecast period.
The report also states that fused deposition modeling (FDM)-based 3D printers dominate the Indian market, but there has been a decrease in the purchasing of 3D printers because of computer numerical control (CNC) milling machines, which are cheaper than 3D printers.
Other Key Reports Available:
Media Courtesy : CIO