The Wohlers Report 2019 forecasts for 2020 are $15.8 billion for all Additive Manufacturing products and services worldwide. The company expects that revenue forecast to climb to $23.9 billion in 2022, and $35.6 billion in 2024.
Middle East and North Africa has showcased substantial growth in 3D domain and is poised to spiral to new heights in years to come. Although 3D printing (additive manufacturing) in Middle East and North Africa region is at nascent stage, countries as well as the companies of the region are in a pace to seize the opportunities arising from technological breakthroughs and which is witnessed among various industry verticals such as manufacturing, construction, education, consumer goods, automotive, healthcare and aerospace & defense. Manufacturing sector was accounted as the fastest growing industry vertical in terms of its applications in 3D printing. Based on estimation, the respective segment is projected to generate revenue of US$ 396.6 Million in by 2024 displaying tremendous CAGR of 28.5% during the forecasted period in MENA 3D printing market.
The Middle East and North Africa 3D printing market is segmented based on component, sub-component, applications, and technology and industrial verticals. Product (industrial and desktop printer), material (polymer, plastics, metal & alloy, ceramic and other) and services are the types of components considered while analyzing and defining the penetration of 3D printing technology in different geographies and countries. However in 2018, product segment dominated the MENA 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 30.4% during the forecast period (2018-2024).
Witness the promising growth of 3D printing (additive manufacturing) in the first ever summit and expo scheduled on 7-8 Oct 2019, Riyad, Kingdom of Saudi Arabia with a plethora of industry leaders, solution seekers and providers in one of the biggest event happening for the MENA region.