Yong Xing Zheng Quan·2025-05-26 05:30Investment Rating - The report maintains an "Accumulate" rating for the 3D printing industry, indicating a positive outlook for investment opportunities in this sector [5]. Core Insights - 3D printing is a new manufacturing process based on layer-by-layer material accumulation, offering significant advantages over traditional subtractive manufacturing in terms of cost control, customization, and material utilization [1][16]. - The global 3D printing market is projected to reach $21.9 billion by 2024, with China's market exceeding 50 billion yuan, highlighting rapid growth in this sector [2][36]. - The aerospace sector accounts for a significant portion of 3D printing applications, with nearly 58% of China's industrial-grade 3D printing applications in this field [2][41]. Summary by Sections 1. 3D Printing: A Strategic Emerging Industry - 3D printing is recognized as a strategic emerging industry supported by national policies, enhancing its development and application in various sectors [24][27]. - The technology is particularly advantageous for small-batch production, allowing for cost savings and efficiency improvements compared to traditional manufacturing methods [17][19]. 2. Market Growth and Applications - The 3D printing market is expected to grow rapidly, with a compound annual growth rate of 18% projected over the next decade [31]. - Key application areas include aerospace, medical, and automotive sectors, which together account for nearly 50% of global 3D printing applications [38][39]. 3. Cost Reduction and Adoption in Civilian Sectors - Continuous cost reductions in 3D printing materials and equipment are facilitating its adoption in civilian sectors, such as consumer electronics and footwear [2][52]. - The price of 3D printing powders has significantly decreased, with titanium alloy powder prices dropping by 50% recently, making the technology more accessible [56][57]. 4. Investment Recommendations - The report suggests focusing on companies such as Platinum Technology, Huazhu High-Tech, and Aisikai, which are well-positioned to benefit from the growth in the 3D printing industry [4].