The 3D Printing market size was valued at US$10.459 billion in the year 2020 and is predicted to reach up to US$65.148 billion in the year 2027 at a CAGR of 29.86%. The 3D printing market is attributed to the growing demand for prototyping applications and the increasing demand for personalized products. Moreover, the entrance of the startups and the innovative ideas of key market players and these startups are other prominent factors accelerating the demand for 3D printing and boosting its market globally.

Key driving factors: Growing demand for personalized and customized products expected to robust the market

Advancements in 3D printing and the availability of materials have increased the inclination toward the adoption of print-on-demand parts of personalized or customized functional products. This technology enables the production of products according to individual requirements and needs. The customized services provided by the companies include basic designs developed by the designers, which also allow customers to contribute to designing the products. Furthermore, the consistent advancements in the technology of 3D printing have reduced the costs of printers and made the availability of a range of materials which made the manufacturing of personalized products easy.

The arrival of many start-ups with tough competition from the existing market players is another factor driving the 3D printing market. For instance, new market players such as HP, Digital Metal, Desktop Metal, and many others are giving competition to the existing key market players such as ExOne. The Sapphire 3D and Virtual Foundry have signed a partnership agreement for subtractive manufacturing and combined expertise for additives and have launched a bound metal 3D printing lab. Whereas an additive 3D printing startup Fortify has recently closed the USD 20 million equity off Cota Capital for the expansion in high-value spaces applications, and the transition to volume production of Flux Series 3D printers.

3D Printing Market Segmentation

The market is segmented by components, technology, and end-users. By component, the market is fragmented into software, hardware, services, plastics, materials, ceramics, and others. The software component is further segmented into CAD tools, Slicers, and others. In terms of shares during the forecast period, the hardware component is projected to hold a significant share. Whereas, due to increasing demand for metal 3D printing technology, metal hardware is predicted to show rapid growth and hold a significant market share in upcoming years.

By technology the 3D printing market is segmented into material jetting, metal extrusion, Vat Photopolymerization, Powder Bed Fusion, Multi Jet Fusion, Direct Energy Deposition, and Sheet Lamination. Currently, metal binder jetting is showing significant growth due to its low cost and faster than other technology. However, powder bed fusion 3D printing is projected to hold a prominent market share during the forecast period primarily in the metal AM market. As a result of the competition between binder jetting and powder bed fusion markets, a new market is arising which is the compact metal 3D printing market. Many key market players consistently innovate new products to compete in this market.

By end-users, the market is segmented into Automotive, healthcare, aerospace and defence, construction, and others. The demand for 3D printing in lightweight vehicle manufacturing is growing for the reduction in their weight, boosting car performance, and increasing fuel efficiency. As a result, the automobile 3D printing market is projected to grow during the forecast period. Whereas the additive manufacturing sector is also estimated to show a potential to grow in upcoming years. The companies in the automotive industry have become aware of the advantages of 3D printing usage in the market, the companies are emphasizing the technological advancements in the same.  

Restraint

The lack of skilled labor, high research and development cost, and harmful emissions while the 3D printing process is the few factors that hinder the growth of the market. Due to the various regulations by the government regarding harmful emissions, the 3D printing practice is prevented in many countries. Furthermore, several new studies have been carried out on the toxic particles emitted during 3D printing. For instance, the Society for risk analysis annual meeting held in December 2020, reported a study stating that the particles emitted during 3D printing can affect public health and indoor air quality. Hence, companies are required to make use of non-toxic, less hazardous, and environment-friendly or low-emission products. This requires research and development and can cost high, thus, not all companies can afford the same. Moreover, training in 3D printing also costs high, which is why there is a lack of skilled labor in the manufacturing of 3D printing products.

Recent developments

SOLIZE a 3D printing company and CAD a Japan-based company declared that they would use HP 3D printers to produce their spare parts for NISMO. For this, these companies have signed a long-term SLA with HP. Voxeel8 a Digital manufacturing has signed an agreement with ActiveLab a multi-material company that produces 3D printing systems. The agreement has been signed for the printing of the athletic shoe uppers, as these printers are capable to fabricate flexible elastomeric materials into textiles. Philips Lighting India now known as Signify Innovations India, has announced to set up two 3D printing manufacturing facilities in the country and in March 2021 launched its first tailor-made 3D printed luminaires for commercial customers and industrial use. As this company is helping the economy and becoming self-reliant in the country with sustainable innovations, the company is getting support from the Indian Government.  

Whereas in January 2022, Materialise a 3D printing service provider, and Sigma Labs a software developer announced the development of a new platform that allows a real-time 3D printing correction of errors. The unique setup developed by these two bodies enables users to identify the issue that arose after the fusion of alloy powders and allows them to address the same. During the same period, a leading rocket company based in California ordered 2 NXG XII 600s 3D printers from SLM Solution Group AG. These huge printers were ordered for manufacturing or making space missions efficient by creating lighter, more affordable, more robust space components, and faster. Whereas, recently in February 2022, Ultimaker and CASTOR announced integrating the former part screening software with the digital factory platform of the latter. The Digital factory solutions which are cloud-based, are designed to allow the users remote management of 3D printing systems.

Regional analysis: Asia-Pacific is to witness growth during the forecast period.

The 3D printing market by Geography is segmented into South America, North America, Asia-Pacific, Middle East, and Africa. In the North American region, due to the advancement in technology, and the early adaptation of advanced technology by the US, the region is expected to hold a significant share of the global 3D printing market. Whereas Asia-Pacific is predicted to grow at a fast pace during the forecast period because of the growing population and rapid industrialization. The China government encourages 3D printing action plans; hence China is one of the major drivers of the 3D printing market in this country. Whereas, India is taking time for accepting 3D printing except for medical devices. Constructions and some other sectors are still away from the 3D printing plans. The startup companies from this region are considering these factors by keeping in mind the accessibility and affordability of the advancement in technology.

COVID-19 Impact on 3D Printing Market:

The sudden outbreak of COVID-19 has affected several sectors all around the world. Due to the disrupted supply chain, the shutdown of retails, manufacturing, and many other reasons, impacted the industrial sector severely. However, it has also created several opportunities for the field of the 3D printing market. For instance, the field of Medical, it has created a demand for respirator devices, connectors, ventilator valves, non-invasive PEEP masks, testing devices, PPE kits, and isolation wards. This is due to the disrupted supply chain, but the advanced 3D printing technology came up with opportunities for the fulfillment of medical needs.

3D Printing Market Scope:

Segmentation:

• By Component
  • Hardware
  • Software
    • CAD Tools
    • Slicers
    • Others
  • Services
  • Materials
    • Metals
      • By Type
        • Aluminum
        • Nickel
        • Steel
        • Others
      • By Form
        • Filament
        • Powder
        • Liquid
    • Plastic
      • By Type
        • PLA
        • PET
        • ABS
        • Others
      • By Form
        • Filament
        • Powder
        • Liquid
    • Ceramics
    • Others
• By Technology
  • Vat Photopolymerization
    • Stereolithography
    • Digital Light Processing
    • Continuous Digital Light Processing
  • Metal Extrusion
  • Material Jetting
  • Binder Jetting
  • Direct Energy Deposition
  • Powder Bed Fusion
  • Multi Jet Fusion
    • Selective Laser Sintering
    • Direct Metal Laser Sintering / Selective Laser Melting
    • Electron Beam Melting
  • Sheet Lamination
• By End-User
  • Healthcare
  • Automotive
  • Aerospace and Defense
  • Construction
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • Spain
    • United Kingdom
    • France
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Others