The Canada 3D Printing Market is projected to reach a market size of around USD 700 Million by 2028, due to increasing investments in R&D and government initiatives.
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3D printing, in essentially, allows any three-dimensional object based on a 3D model file to be printed. This works by building the entire object from the ground up by adding layer upon layer of a material. Canada is home to a highly skilled workforce and a strong research and development sector. This has led to the development of new 3D printing technologies and applications, particularly in industries such as aerospace, healthcare, and automotive. Furthermore, the adoption of 3D printing technologies in industries such as aerospace, healthcare, and automotive has increased demand for 3D printing services in Canada. This has led to the growth of 3D printing companies and the expansion of their services and capabilities. Moreover, 3D printing allows for the production of highly customized and personalized products, from prosthetics to jewelry to household items. This has led to increased demand from consumers for 3D-printed products and services. In addition, 3D printing has the potential to reduce waste and energy consumption compared to traditional manufacturing methods. This has led to increased interest in 3D printing technologies as a more sustainable alternative. In addition, the National Research Council of Canada (NRC) launched the National Manufacturing Strategy in 2007, with a focus on advanced manufacturing technologies like 3D printing. This aided in the advancement of research and development in the field, as well as the adoption of 3D printing in Canada.
According to the research report "Canada 3D Printing Market Overview, 2028," published by Bonafide Research, the Canada 3D Printing market is projected to reach market size around USD 700 Million by 2028. The market is divided into two major printer types, according to the research report desktop 3D printers and industrial 3D printers. Industrial 3D printers will lead the market in 2022, with a larger market share. Industrial 3D printers are used in a variety of industries, including aerospace, automotive, healthcare, and defence, to produce more complex and customized parts and components than traditional manufacturing methods. Furthermore, industrial 3D printers can use a variety of materials, including metals, ceramics, and plastics, allowing manufacturers to select the best material for their application. 3D printers are expected to grow at a faster CAGR than industrial 3D printers due to their being more affordable, accessible, and simple to use. However, based on the offerings, the market is divided into printers, materials, services, and software segments. Printer has the largest market share during the forecast period. Because printers are the most important component of any 3D printing system, they have the highest market share in the Canada 3D printing market based on offering. It is not possible to create 3D objects using additive manufacturing technology without a printer. Materials have the highest CAGR because they are an essential component of the 3D printing process. The market has been further segmented based on application into prototyping, tooling, and functional parts manufacturing. Because of the widespread adoption of the prototyping process across multiple industry verticals, the prototyping segment held the largest share in 2022. Prototyping is especially useful in the automotive, aerospace, and defence industries for precisely designing and developing parts, components, and complex systems. In response to rising demand for designing and manufacturing functional parts, the functional parts manufacturing segment is expected to grow at the fastest CAGR between 2023 and 2028.
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