The 3D printing market is projected to have a compound annual growth rate of 27.80%, from US$11.587 billion in 2019 to US$64.518 billion in 2026. The market of 3D printing is expected to drive by increasing demand for prototyping applications, rising demand for personalized products. In addition to that, the arrival of the startups and their innovative ideas is further boosting the demand for the 3D printing market. The growth of the 3D printing market is restrained by the high cost of research and development, lack of skilled labor force, and harmful emissions, where harmful emissions are also creating a constraint as it creates a regulation of the government. This is so because people are not that skilled and training the employees has a cost as well. Along with the governments are favoring environment-friendly production methods and products so to prevent emissions, the companies require to do research and development along with innovation to get the emission-free or low emission production methods and products.
By component, the 3D printing market is segmented into hardware, software, services, materials, plastics, ceramics, and others. Among them, the hardware segment is expected to have a significant market share in the forecast period. In the hardware 3D printing market, metal hardware is expected to have the fastest-growing market for 3D printing. There is an opportunity for the growth of the metal AM hardware 3D printing market. The 3D printing market by technology is segmented into Vat Photopolymerization, Metal Extrusion, Material Jetting, Binder Jetting, Direct Energy Deposition, Powder Bed Fusion, Multi Jet Fusion, and Sheet Lamination. The power bed fusion 3D printing market is expected to have a significant market share in the forecast period mainly in the metal AM market. Though, the current trend is showing potential growth in the metal binder jetting market as this technology is relatively cheaper and faster than the powder bed fusion method. Many new potential players are entering into the market and giving competition to the existing ones such as ExOne is facing competition from the new players like Digital Metal, HP, and Desktop Metal. Recently, Level technology, The Virtual Foundry, and Sapphire 3D have come into the partnership and launched a bound metal 3D printing lab to combine their expertise for additive and subtractive manufacturing. Fortify, an additive 3D printing startup has closed the $20 million equity off Cota Capital to expand in high-value application spaces, and transition to volume manufacturing of the Flux Series 3D printers. A new market is also arising due to the competition between powder bed fusion and binder jetting markets that is the compact metal 3D printing market. Companies are continuously innovating new products to compete in the market.
The 3D printing market is segmented into regions by North America, South America, Europe, Asia Pacific and the Middle East, and Africa. North America 3D printing market is expected to have a significant market share in the forecast period due to the technology domination in this region. By end-users, the 3D printing market is segmented into healthcare, automotive, aerospace and defense, construction, and others. The healthcare market is expected to have a significant market share in the forecast period with a significant growth rate. The automobile 3D printing market is expected to have a positive growth due to the demand for the same in the lightweight vehicle components manufacture to reduce the vehicle’s weight, increasing fuel efficiency, and car performance. The additive manufacturing 3D printing market is having a huge potential to grow in the forecast period, along with the technological advancement by the companies in the market from the automotive industry to the consumer goods industry as the companies have become aware of the advantages of the usage of the 3D printing in the market.
The covid-19 has impacted the whole world severely by impacting the supply chains, manufacturing, and consumer sectors. Although, the covid-19 has created a wide range of opportunities for the 3D printing market. In the medical field, it has created a demand for ventilator valves, makes connectors, respiration devices, non-invasive PEEP masks, PPE kits, testing devices, and isolation wards. This is because the supply chain has been disrupted due to lockdowns, but the 3D printing technology has provided the opportunity to fulfill medical needs.
Japanese CAD and 3D printing company SOLIZE will be using the HP 3D printers for the production of the spare parts for NISMO. The company has signed a long-term SLA with the company. Digital manufacturing Voxeel8 has come into agreement with the multi-material company, ActiveLab 3D printing system to print the athletic shoe uppers, as the printer is capable of fabricating flexible elastomeric materials onto textiles. Signify Innovations India, earlier called Philips Lighting India, has set up 2 3D printing manufacturing facilities in India and has launched in March 2021, the first tailor-made 3D printed luminaires for industrial and commercial customers. This company is also getting the Indian government support as the company is helping the economy to become self-reliant in India with sustainable innovations.
APAC to witness lucrative growth
The Asia Pacific is expected to have a potential growth rate in the forecast period due to the rapid industrialization and growing population. In the Asia Pacific region, China is the major driving force in the growth of the region as the Chinese government is supporting the 3D printing action plans. This has further boosted the investment and market growth of the 3D printing market. India is taking considerable time to accept 3D printing excepting medical devices. Construction and some other industries are still untouched by the 3D printing market which the startup companies are focusing mainly on the 3D printing market, keeping in mind the affordability and accessibility in the technology advancement in India.
|The market size value in 2019||US$11.587 billion|
|The market size value in 2026||US$64.518 billion|
|Growth Rate||CAGR of 27.80% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Component, Technology, End-User, Geography|
|Regions covered||North America, South America, Europe, Middle East, and Africa, Asia Pacific|
|Companies covered||Stratasys Ltd., The Exone Company, Ultimaker BV, Xjet, HP, Materialise, SLM Solutions Group, Sciaky, Mcor Technologies Ltd, Optomec, DWS, 3DCERAM SINTO, Luxexcel Group, EnvisionTEC, Arcam EBM|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the 3d printing market Size by 2026?
A1. The 3D printing market is expected to reach a market size of US$64.518 billion in 2026.
Q2. What is the size of global 3d printing market?
A2. 3D Printing market was valued at US$11.587 billion in 2019.
Q3. What are the growth prospects for the 3D Printing market?
A3. The global 3D printing market is expected to grow at a CAGR of 27.80% over the forecast period.
Q4. Which region holds the maximum market share of the 3d printing market?
A4. Geographically, the North American region is expected to hold a significant share in the 3D printing market owing to the technology domination in this region.
Q5. What factors are anticipated to drive the 3D printing market growth?
A5. The 3D printing market is expected to drive by increasing demand for prototyping applications, rising demand for personalized products.