China sales revenue will reach USD 3 billion by 2020
The government of China is making the necessary move to position itself as a leading player in the 3D printing industry. Indeed, the Republic of China expect to achieve an annual sales revenue of over 20 billion yuan ($3 billion USD) in the 3D printing market with an with an average annual growth rate of at least 30%.
Overview of the 3D printing market in 2017
Throughout this year, innovations regarding 3D printing have been revealed in a wide range of sectors among which:
- Fashion: in the footwear industry. We witnessed the collaboration of eSUN and RESA to broaden 3D printed insoles market. In the same industry, acknowledged brands such as Peak introduced the first wearable 3D printed basketball boot.
- In the medical industry, we saw new fundings such as the one of Smartee Denti-Technology to realize invisible 3D printed braces.
- As far as research is concerned, Industrial Technology Research Institute implemented a 3D printed skin to replace testing on animals.
- and many more.
Focusing on the next three years…
The Action Plan of the government lays emphasis on the achievements and the shortcomings of its previous iteration, the 2015-2016 National Plan for the Development of Additive Manufacturing Industries.
Even though, the former National Plan was efficient in increasing the country’s application growth, the Ministry of Industry and Information Technology’s (MIIT) realises the country still lacks competences in key technologies and innovation capability. Furthermore, the breadth and depth of 3D printing applications is another sector which requires attention.
So, a big fiscal support will be brought to Chinese 3D printing companies via funding from the MIIT and other national organizations. Encouraged financing models therefore include public investment, bond issuance, and financial leasing.
In the same context, following the Action Plan’s guidelines, foreign 3D printing firms are welcome to establish their R&D centres in China.
Last, 100 pilot demonstration projects will be launched to promote the application of 3D printing in 10 key manufacturing industries.
To sum up, the proposed actions should reach about 20 billion yuan in the next three years.
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