3D printing market is valued at USD 11.73 Billion in 2019 and expected to reach USD 25.99 Billion by 2025 with the CAGR of 14.2 % over the forecast period.
Increase in the development of 3D printing (3DP) and the surging demand for prototype applications in various industries (especially healthcare, automotive, aerospace and defense) are the major factors driving market growth. 3D Printing Market Increased investment on healthcare expenditure and various technological advancements in software for easy operations are key drivers for Global 3D Printings Market.
The 3D printing and the term additive manufacturing are used interchangeably. The term ""3D printing"" covers a variety of processes in which materials are assembled or hardened under computer control to create three-dimensional objects, where materials are added together (for example, liquid molecules or powdered particles), in successive layers. In recent years, 3D printing has made considerable progress and now plays a key role in many applications, the most important of which are manufacturing, medicine, architecture, custom art and design.
3D printing market report published by the Brandessence Market Research and Consulting Pvt. Ltd. provides the detail information about 3D Printing market from various aspects. This report consist of drivers, restrains, Opportunities which help the market to grow over the analysis period and recent trends which supports the growth of market. This report consist of regional segmentation with printer type, technology, material and application.
3D deployment includes the provision of installation services, consulting and customer support solutions, as well as the management of copyright, license and patent aspects. 3D printing benefits manufacturers in prototyping, structural designs and final products, modelling and shortens time for the product to reach market. As a result, production costs are significantly reduced, which helps manufacturers to provide better products at reasonable prices.
Global 3D printing market is segmented on the basis of offering, process, application, vertical, and technology. On the basis of offering, the market is segmented into printer, material, service, software. On the basis of process, market is segmented into Powder bed fusion, material jetting, sheet lamination, binder jetting, material extrusion, directed energy deposition. On the basis applications, the market is segmented into prototyping, tooling, functional parts. On the basis of technology, the market is segmented into digital light processing, electron beam melting, inkjet printing, selective laser sintering, stereolithography, polyjet printing, laminated object manufacturing, fuse deposition modeling and others. On the basis of verticals, the market is segmented into industrial 3D printing and desktop 3D printing.
The regions covered in this 3D printing market report are North America, Europe, Asia Pacific and rest of the World. On the basis of country level, market of voice recognition software is subdivided into U.S., Mexico, Canada, U.K., Germany, France, Italy, China, Japan, South East Asia, Africa, etc.
3D printing is the process of making three-dimensional solid object in a digital format. This process is achieved using additive processes. As compare to traditional manufacturing techniques such as CNC Machining 3D printing provides many advantages. High printing speed and faster production, easy accessibility, good quality etc., are the benefits of 3D printing. The printing process varies by technology such as Stereo lithography, Fused Deposition modelling, Selective Laser Sintering, Selective Laser melting, Electron Beam melting, Laminated Object manufacturing, Digital Light processing and Others. 3D Printing segments various printer types such as Desktop 3D printer, Industrial 3D printer and Others.
There are various factors driving the growth of the 3D Printing one of the majors driving the growth of the market are technological advancements promising gains in speed and flexibility due to its benefits. Less reduction of waste material for complex products is another factor driving the demand of 3D Printing. Initiatives taken by government in Research & Development is expected to promote the growth of 3D Printing market. For instance, the Australian government, in partnership with 3D printing bureau and reseller, Objective 3D, has announced USD 2 million (AUD) in funding for a new additive manufacturing (AM) virtual hub.However, eqipments used in 3D printing process is very high which is expected to hamper the growth of 3D Printing market over the forecast period.
The active development of 3D printing (3DP) and the surging demand for prototype applications in various industries (especially healthcare, automotive, aerospace and defense) are the major factors driving market growth. As per 3ders.org, 3D printed train seat prototype helped POLGAR KFT, a manufacturer of automotive parts saved almost 90% of its traditional prototyping costs by an effective 3D technology. Therefore, prototyping is the major driver for the growth of 3D printing market.In the field of health, additive manufacturing contributes to the development of artificial tissues and muscles, which reproduce natural human tissue and can be used surgical replacements in human body. These features should help drive the adoption of 3DP across the healthcare vertical and make a huge contribution to the growth of the industrial segment. However, common misunderstandings of small and medium enterprises in the prototyping process have hampered the adoption of additive manufacturing. Design companies, especially SMEs, view investing in prototypes as responsible investment rather than trying to understand the benefits and benefits of prototypes. These companies generally believe that prototyping is only an expensive step before manufacturing. This perception of prototypes, coupled with the lack of technical knowledge and the imminent lack of standard process control, may act as a restraint for the market growth. In association with AI and IoT, 3D printing can enable truly digital manufacturing. Digital manufacturing processes can be driven from IoT, which can then be transformed into decision making with AI and then 3D printing can make parts from design files. Another opportunity for 3D printing can be found in construction business. Supported by initiatives such as the Dubai Initiative mentioned in Jezard, 2018, project predicts that 25% of Dubai buildings will be 3D printed by 2025. Likewise, China has started its experimentation in the same, with building a six-storey apartment that has been 3D printed and a 1100 square meters villa. Hence, verticals like construction and digital manufacturing offer great opportunities for 3D printing in coming years.
North America has become the largest market for 3D printing and, due to the widespread use of additive manufacturing in the region, its share of revenue in 2019 exceeds 35%. Countries in North America (such as the United States and Canada) have adopted this technology in various manufacturing processes and are important early adopters. This factor should help the region to maintain the largest market share in the coming years. Regional markets offer many opportunities for additive manufacturing in different applications.
In contrast, in terms of geographic footprint, Europe happens to be the largest region. It is the hometown of several participants in the additive manufacturing industry who have strong technical expertise in the additive manufacturing process. Therefore, it is expected that the European market will continue to retain the second largest market share over the next few years.
However, the Asia-Pacific region is expected to achieve the highest compound annual growth rate over the forecast period. Due to the development and upgrading of the entire manufacturing industry in the region, the rapid adoption of additive manufacturing is expected to stimulate growth. The region is also an emerging manufacturing center for the automotive and healthcare industries. There are five key industries with the greatest potential of 3D printing: heavy industry, automotive, consumer goods, health, medical and aerospace. These five industries estimated to represent 76% of the world manufacturing, totaling $9 trillion per year. According to the results of the Industry expert survey, 23% to 40% of parts from these industries will be manufactured via 3D printing in the next 5 to 10 years, or 2 to 3 USD billions of global manufacturing will be affected by 3D printing in the next five to ten years. Many large countries in APAC region invest a large sum to maintain manufacturing competitiveness. The consumer electronics production base and the rapid urbanization process have also fueled the growth in demand for 3D printers in the region.
|Historical data||2015 - 2018|
|Forecast Period||2019 - 2025|
|Market Size in 2019:||USD 11.73 Billion|
|Base year considered||2019|
|Forecast Period CAGR %:||
|Market Size Expected in 2025:||USD 25.99 Billion|
|Tables, Charts & Figures:||175|
|3D Printing Companies||3D Systems Corporation, The Exone Company, Arcam Group, Materialise NV, EOS GmbH, Organovo Holdings Inc, 3D Ceram, Carbon 3D, Stratasys Limited, General Electric Company,Voxeljet AG, Hewlett Packard (HP) Enterprise Company, SLM Solutions Group AG, EnvisionTEC, Proto Labs, Inc., CleanGreen3D (Mcor Technologies Limited), Optomec, Inc., Groupe Gorge, Ultimaker BV, Renishaw Plc, Beijing Tiertime Technology Corporation Limited, XYZprinting, Inc., Velo3D Inc., Desktop Metal Inc., Nano Dimension, Markforged Holding Corp., Shapeways Holdings Inc., Formlabs, Octane, Relativity Space, Fast Radius, BRINC Drones, and others.|
|Segments Covered||By Printer Type,By Technology,By Material,By Application,By Offering,By Verticals|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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