The US 3D printing market is anticipated to grow a CAGR of over 8.5% from 2017–2024, according to a new report from market analysts ResearchNester.

The US is anticipated to have a significant portion of market share in the overall market of 3D printing during the same period, while increased advancement in 3D printing technology and implementation will also fuel the growth.

By 2016 the industry‘s exports were expanded with an annualized rate of 18.6%, while import will expand at 8.5%, the report says. Factor such as increasing research and development expenditure could also likely to intensify the U.S. growth, with the expenditure anticipated to grow at a rate of 2.9 % from 2017 to 2024.

On the other hand, the high cost of 3D printer is anticipated to limit the growth of global 3D printing. Besides this, lack of export assistance, high cost and unavailability of skilled employees are some of the key factors which are expected to limit the growth of US 3D printing market in upcoming years, ResearchNester says.

This story is reprinted from material from ResearchNester, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.