3D Printing Market Report

Market Overview:

The global 3D printing market size reached US$ 19.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67 Billion by 2028, exhibiting a growth rate (CAGR) of 21.4% during 2023-2028. The growing use in the education industry, favorable government initiatives, and various technological advancements represent some of the key factors driving the market.     

Rising Demand in Education Industry Augmenting Market Growth

The rising adoption of 3D printing in the education industry currently represents one of the primary drivers contributing to the growth of the market. It offers enhanced quality of subjective illustrations and simplification of complicated concepts through interactive visualizations for easy learning among students. Additionally, various educational tools are designed through 3D technology, providing an improved understanding of subjects that requires more practical and experimental knowledge as compared to theoretical examples.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is concentrated with few global players accounting for the majority of the market share in the industry. The volume of new entrants is moderate in the 3D printing industry due to the high entry and exit barriers. Additionally, product differentiation in the 3D printing market is high, as large international vendors differentiate their products in terms of designing, technological advancements, and better post-sales services.

What is 3D Printing?

Three-dimensional (3D) printing refers to a technology that comprises layer-by-layer addition of materials to build patterns, physical objects, and tooling components using a 3D digital model. It involves various technologies, such as fused deposition modeling (FDM), stereolithography (SLA), digital light processing (DLP), selective laser sintering (SLS), selective laser melting (SLM), laminated object manufacturing (LOM), and digital beam melting (EBM). It is flexible, cost-efficient, and time-saving while creating high-end 3D objects of any shape and size without the use of molds or machines. As a result, 3D printing is widely employed in the education, electronics, healthcare, automotive, and aerospace industries across the globe.

COVID-19 Impact:

The COVID-19 pandemic outbreak caused a severe problem for the 3D printing industry and imposed unprecedented challenges on numerous countries. It forced various manufacturers to temporarily shut down or close their production capacities due to the lockdown and stringent curfew norms. The social distancing rules and regulations severely hampered the 3D printing market, and manufacturers faced huge financial losses. Governing agencies of various countries imposed stringent rules on-road movement, which impacted the supply chain in the short term. In line with this, the COVID-19 pandemic affected imports and exports of goods and services due to cross-border restrictions. Thus, the 3D printing market witnessed a sharp decline on account of the reduced raw materials, labor shortage, and supply and demand chain disruptions. However, post-pandemic, the reopening of manufacturing units was observed, which is expected to boost the demand for the 3D printing market in the coming years.

3D Printing Market Trends:

Presently, the increasing utilization of 3D printing in the automotive industry to manufacture prototypes and various functional parts represents one of the major factors influencing the market positively. Besides this, the growing adoption of 3D printing in the healthcare industry to produce customized hearing aid shells, braces, and tooth implants is offering a favorable market outlook. In addition, the rising adoption of 3D printing in the education sector, as it assists in enhancing the quality of subjective illustrations and simplifies complicated concepts, is propelling the growth of the market. Apart from this, several benefits offered by 3D printing, such as flexibility, eco-friendliness, and rapid prototyping, are contributing to the growth of the market. Additionally, governing agencies of various countries are encouraging the adoption of 3D printing technology in numerous industries by offering various initiatives, which is strengthening the growth of the market. Furthermore, technological advancements in 3D printing to increase efficiency, reduce costs, and eliminate errors, are supporting the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global 3D printing market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on technology, process, material, offering, application and end-user.

Technology Insights:

• Stereolithography
• Fused Deposition Modeling
• Selective Laser Sintering
• Electron Beam Melting
• Digital Light Processing
• Others
   

The report has provided a detailed breakup and analysis of the 3D printing market based on the technology. This includes stereolithography, fused deposition modeling, selective laser sintering, electron beam melting, digital light processing, and others.

Process Insights:

• Binder Jetting
• Directed Energy Deposition
• Material Extrusion
• Material Jetting
• Powder Bed Fusion
• Sheet Lamination
• Vat Photopolymerization
   

A detailed breakup and analysis of the 3D printing market based on the process has also been provided in the report. This includes binder jetting, directed energy deposition, material extrusion, material jetting, powder bed fusion, sheet lamination, and vat photopolymerization. According to the report, binder jetting accounted for the largest market share as it does not employ heat in the manufacturing process. In addition to this, there is a rise in the demand for binder jetting in the construction and interior design industry to print large architectural objects. 

Material Insights:

• Photopolymers
• Plastics
• Metals and Ceramics
• Others
   

A detailed breakup and analysis of the 3D printing market based on the material has also been provided in the report. This includes photopolymers, plastics, metals and ceramics, and others. According to the report, photopolymers accounted for the largest market share on account of the increasing demand for various components of photopolymers, such as binders, monomers, and photo initiators. Moreover, the increasing utilization of liquid photopolymers in stereolithography 3D printing technology is strengthening the growth of the segment.

Offering Insights:

• Printer
• Material
• Software
• Service
   

A detailed breakup and analysis of the 3D printing market based on the offering has also been provided in the report. This includes printer, material, software, and service. According to the report, printers accounted for the largest market share, as they assist in enhancing overall speed and productivity. Besides this, the growing demand for wide varieties of printers, such as fused deposition modeling (FDM), stereolithography (SLA), digital light processing (DLP), selective laser sintering (SLS), selective laser melting (SLM), laminated object manufacturing (LOM), and digital beam melting (EBM), is positively influencing the market.

Application Insights:

• Prototyping
• Tooling
• Functional Part Manufacturing 
   

A detailed breakup and analysis of the 3D printing market based on the application has also been provided in the report. This includes prototyping, tooling, and functional part manufacturing. According to the report, prototyping accounted for the largest market share on account of its rising adoption in various industries, such as automotive, aerospace, and defense. Moreover, there is an increase in the demand for prototyping, as it aids in achieving higher accuracy and develop higher end products.

End-User Insights:

• Consumer Products
• Machinery
• Healthcare
• Aerospace
• Automobile
• Others
   

A detailed breakup and analysis of the 3D printing market based on the end-user has also been provided in the report. This includes consumer products, machinery, healthcare, aerospace, automobile, and others. According to the report, consumer products accounted for the largest market share due to the increasing preferences for customized products among individuals across the globe. In addition, there is a rise in the demand for 3D printed electronic components and products, which is propelling the growth of the market.

Regional Insights:

• Europe
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. According to the report, North America was the largest market for 3D printing. Some of the factors driving the North America 3D printing market included the growing adoption of 3D printing in various manufacturing process, various product launches, innovations, and developments, increasing mergers and acquisitions (M&As) among several key players, etc. In line with this, numerous technological advancements in the 3D printing industry is supporting the growth of the market in the region.  

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global 3D printing market. Some of the companies covered in the report include:

• Stratasys
• 3D Systems
• Materialise
• EOS GmbH
• Ge Additive
• Exone
• Voxeljet
• HP
• SLM Solutions
• Envisiontec
• Protolabs
• Mcor Technologies
• Optomec
• Groupe Gorgé
• Ultimaker
• Renishaw
• Beijing Tiertime Technology
• Xyzprinting
   

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the 3D printing market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global 3D printing market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the 3D printing industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.