Published By : 22 Dec 2015 | Published By : QYRESEARCH
The global 3D printing market is exhibiting a CAGR of 16.8% from 2013 to 2019. The market was valued at US$2.2 bn in 2012 and is expected to grow at this high rate due to the expanding range of applications that use 3D printing. The market also benefits from the fact that a larger number of consumers can now access 3D printers due to falling prices. One such commercial use of 3D printing has come about in the manufacture of footwear.
The global footwear market is growing at a CAGR of 1.72% from 2014 to 2020 in terms of value. The market is expected to reach US$220.22 bn in 2020, and 3D printed shoes are about to make a mark on it.
Feetz, assumed by experts to be one of the key players in the 3D printed footwear market, is expected to bring its customizable range of 3D printed shoes to the commercial market in 2016. The digital shoemaker claims that it will be able to deliver footwear on demand within seven days of order.
3D printed shoes could spell the end of footwear that looks great but feels uncomfortable to wear. The days of blisters and foot sores might be at an end if customizable shoes are made available at the massive rate at which the top companies claim they can.
Feetz is currently one of the largest companies in this game and they are only a startup, although being a hi-tech startup with the latest gear in 3D manufacturing. The company has already raised about US$1.2 mn through Khosla Ventures.
The current bigwigs in the footwear industry are close at their heels. Adidas is set to launch Futurecraft, its own line of 3D printed sneakers. The footwear will have a 3D printed midsole and can be tailored to be a perfect fit for any type of foot.
Same measures are being taken by New Balance and Nike in order to stay at the top of the footwear market. Katherine Petrecca, the studio innovation general manager at New Balance, said that there is huge potential in the superior foam parts that can be created using 3D printing.