3D Printing Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Component (Hardware, Software, Services, Material), By Technology (Vat Photopolymerization, Metal Extrusion, Material Jetting, Binder Jetting, Direct Energy Deposition, Powder Bed Fusion, Multi Jet Fusion, Sheet Lamination), By End-User (Healthcare, Automotive, Aerospace And Defence, Construction, Others), And By Geography - Forecasts From 2022 To 2027

The 3D printing market is expected to grow at a CAGR of 30.16%, reaching a market size of US$114.654 billion in 2029 from US$30.689 billion in 2024.

The market for 3D printing is driven by the rising need for customized goods and prototyping applications. The entry of startups and the creative ideas of major industry players, along with these startups themselves, are other noteworthy factors driving the global 3D printing market and increasing demand for the technology. The market is predicted to grow as a result of aggressive 3D printing research and development as well as the rising demand for prototyping applications from a variety of industry verticals, including aerospace and defence, automotive, and healthcare.

Market Drivers:

• Rising technological advancement

Rapid improvements in material composition, such as the growing applications for metals and polymers, are transforming additive manufacturing from a tool for prototyping to a useful component of manufacturing. The technology can be incorporated into manufacturing processes with the help of new materials, shorter lead times, and creative finishes that follow standards.

Additionally, the adoption of 3D printing has increased due to growing expertise, increased awareness, and decreased costs of machines based on additive manufacturing. In addition, the broad application in different fields is made possible by the availability of a variety of materials allowed through new advanced means of fused deposited modelling.

Moreover, major players along with several technology startups are enacting innovative advancements. This has led to the creation of faster and more reliable manufacturing-based 3D printing machines thanks to updated hardware features. One of the most popular types of 3D printers is the polymer model. For instance, in December 2022, Redington Limited signed a deal for Wipro, Materialize, and ETEC products to create full-stack services and products that help businesses use 3D manufacturing. In addition, Redington Limited worked with Wipro 3D to bring polymer 3D printers all around India.

• Rising advancements in printing technologies and materials

The demand for 3D printing comes from the quick progress of production technologies in addition to materials. This implies that globally 3D printing materials and techniques are on a fast track, resulting in new growth opportunities for the technology with which even complex personal items can be made.

For instance, Sophisticated metal parts are currently possible to produce using new printing technologies like direct metal laser sintering (DMLS) and selective laser sintering (SLS), which denotes fresh horizons for 3D printing within military, space as well automotive areas. Considering that the space is shifting and more countries get ready to send their satellites to orbit, the demand for SLS printing is likely to increase.

Additionally, there’s an ongoing effort to develop other kinds of materials like graphene and carbon fibre meant for 3D printing, with both of them seen as possible options in the future being both lightweight and strong at the same time. Graphene and carbon fibre are used for different purposes due to their weightless properties. For example, graphene is used in a 3D-printed medical implant, carbon fibre is used in racing car components. For instance, Titan Tough Epoxy 85 elastomer an innovative additive manufacturing material introduced during Formnext that happened in November 2022 by Inkbit - a company based in Massachusetts; it must be noted that industries requiring high precision as well as production-grade mechanical properties benefit more from this particular type of substance.

Market Restraint:

• High start-up cost is expected to hamper the growth

The growing initial costs of this technology are a major barrier to its adoption. The investment includes technology, materials, software, certification, staff development, and education on additive manufacturing. Conversely, the advent of the industrial desktop 3D printer is helping end users reduce the expensive initial costs associated with 3D printing equipment. Desktop printers still beat 3-D technology in cost and user-friendliness.

North America is expected to take the lead in terms of market share.

In North America, it is expected to have a substantial market share in 3D printing because it was an early adopter of this technology. It is anticipated that numerous innovations and new product releases will support market expansion. To improve their market presence, several global suppliers of 3D printing solutions are increasing their footprint in the North American market.

Additionally, the region is seeing several investments in North America's consumer products, aerospace and defence, industrial, and healthcare sectors all of which are predicted to experience rapid growth. In November 2022, Axial3D, a med-tech startup secured a $15 million investment round with Stratasys leading the way with a strategic 10 million USD investment. In a joint venture, the two businesses would offer a combined offering for manufacturers of medical devices and hospitals that aim to facilitate the adoption of patient-specific 3D printing solutions by these entities thereby enabling the technology to become an ordinary healthcare solution.

Market Developments:

• In April 2024, the industrial-grade UltiMaker Factor 4 3D printer, which is intended to push manufacturing to new heights of dependability and efficiency, was just released, according to UltiMaker, a leader in 3D printing worldwide. A complete 3D printing system for light industrial uses is called Factor 4. The coupler tree Forsm?n and 4th dimension of the 3D presser are principally delineated for tooling and also elements utilized in industry. With backing2engine conditions in support of mechanical materials, direct drive double leafage, un-shell quality print report during construction, variable temperature construct amount among others; it has a low level of surprise and also less level of variances.
• In March 2023, 3D Systems, Inc. announced the release of NextDent LCD1, a printing platform, as well as two new printing materials, NextDent Cast and NextDent Base. The printing platform is a user-friendly small-format printer, and the materials are made to improve the properties of the materials. The company wanted to help its customers accelerate the adoption of additive manufacturing, which is why it launched these products.

Key Market Segmentation:

3D printing Market is segmented and analyzed as below:

• 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