3D Printing Market size touched USD 13.1 billion in 2021 and is expected to reach USD 60.6 billion by 2029, growing at a CAGR of 21.1% over the fore cast period 2022-2029 attributed to research and development in the field of dimensional printing.
Main 3D Printing Market Drivers
Major factors driving 3D printing Market are surge in the demand for prototyping applications from different industry verticals like healthcare and defense, government initiatives supporting additive manufacturing and advancements in industrial grade 3D printing materials. For instance, Indian government introduced national strategy on additive manufacturing, which aims to boost the start-up eco-system in the field of 3D printing and developing around 500 additive manufactured products in the country. As the 3D printing market is growing at a fast rate, Indian government plans to increase share of Indian companies in the global 3D printing market by 5% in coming few years.
Companies are leveraging 3D printing techniques to develop customized products and minimize their production cost and process downtime. 3D printing is helping enterprises to design products at affordable prices, which is increasing its adoption in various end-use industries. Additionally, declining prices of additive manufacturing machines, research and development initiatives by major corporations and growing demand for lightweight vehicles in the emerging economies, are some of the factors augmenting the 3D printer market growth. Healthcare industry was negatively impacted by covid-19 outbreak due to disruptions in the global supply chain, which created growth opportunities for the 3D printing industry. As manufacturers used alternative techniques like 3D printing due to its fast-prototyping capabilities for manufacturing essential medical products like face masks and personal protective equipment (PPE) kits. However, insufficient availability of skilled workforce is hampering the market growth.
By Printer, Industrial segment is projected to hold the largest 3d printer market share.
3D printers are gaining traction industrial 3d printing market as it offers design flexibility coupled with its rapid prototyping, are accelerating the segment’s growth.
As per 3D Printing Market report, Stereolithography (SLA) segment is expected to hold a significant share in the market.
Stereolithography technology finds its application in designing concept models and cosmetic prototypes. Additionally, companies are increasingly adopting direct laser sintering technology to design complicated structures used in the automotive industry.
According to 3D Printing Market research report, Prototyping segment is forecast to capture the largest market share.
Prototyping finds its application in various industries for developing parts and complex systems in the aerospace 3d printing market.
As per 3D printing market forecast, North American region is estimated to lead the market.
North America 3D printing market is driven by increase in research and development initiatives and growing adoption of 3D printing technology across healthcare and automotive industry. North American region is home to some of the 3D printing market leaders such as HP and 3D Systems. Asia-Pacific 3D printing market is propelled by rise in the production of consumer electronic products and increasing industrialization in the region.
3D Printing Market Leaders
Some of the leading players operating in the 3D printing market are 3D Systems, Voxeljet, HP, Protolabs, EOS GmbH, GE Additive, SLM Solutions, Mcor Technologies, Envisiontec, Exone, and Stratasys, among others.
- In February 2022, Imaginarium, a major 3D printing company based out of India, partnered with Ultimaker to introduce desktop and industrial printer range in the Indian market.
- In March 2021, Stratasys, additive manufacturing company based out of Israel introduced J5 DentaJet 3D printer, a multi-material dental 3D printer which allows technicians to lead mixed trays of dental parts.
- In July 2020, SLM solutions, announced that is entered into a partnership with Honeywell International company to develop new parameters for 3D printed aluminum alloy.
Segmentation by Offering
o Acrylonitrile Butadiene Styrene (Abs)
o Polylactic Acid (Pla)
o Polyvinyl Alcohol (Pva)
Segmentation by Process
o Powder Bed Fusion
o Material Extrusion
o Vat Photopolymerization
o Material Jetting
o Binder Jetting
o Directed Energy Deposition
o Sheet Lamination
Segmentation by Application
o Functional Part Manufacturing
Segmentation by Vertical
o Aerospace & Defense
o Consumer Products
o Architecture and Construction
o Printed Electronics
o Food and Culinary
Segmentation by Technology
o Stereolithography (SLA)
o Fused Deposition Modeling (FDM)
o Selective Laser Sintering (SLS)
o Direct Metal Laser Sintering (DMLS)
o PolyJet/MultiJet Printing (MJP)
o Inkjet Printing
o Electron Beam Melting (EBM)
o Laser Metal Deposition (LMD)
o Direct Light Projection (DLP)
o Laminated Object Manufacturing (LOM)
Segmentation by Region
• Asia Pacific
o Rest of APAC
• North America
o United States of America
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
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