Global 3D Printing Market to Reach US$ 117.3 Billion by 2032, Facilitated by Expanding Applications

December 24, 2021 | Technology & Media

According to the latest report by IMARC Group, titled “3D Printing Market Report by Technology (Stereolithography, Fused Deposition Modeling, Selective Laser Sintering, Electron Beam Melting, Digital Light Processing, and Others), Process (Binder Jetting, Directed Energy Deposition, Material Extrusion, Material Jetting, Powder Bed Fusion, Sheet Lamination, Vat Photopolymerization), Material (Photopolymers, Plastics, Metals and Ceramics, and Others), Offering (Printer, Material, Software, Service), Application (Prototyping, Tooling, Functional Part Manufacturing), End-User (Consumer Products, Machinery, Healthcare, Aerospace, Automobile, and Others), and Region 2024-2032,” the global 3D printing market size reached US$ 24.0 Billion in 2023. Also known as additive manufacturing, 3D printing refers to the process of making three-dimensional solid objects, such as patterns, physical models, production parts, and tooling components, via a computer-aided design (CAD) model. It involves adding a series of additives layers, which helps in eliminating the need for cutting and drilling. It offers several advantages over conventional production methods, which include stability, durability, high sensitivity, and lower raw material wastage.

Global 3D Printing Market Trends:

3D printing finds extensive application in various end use industries across the globe. For instance, it is utilized in the automotive sector for creating complex automobile parts, speeding up tooling cycles, enhancing measurement and testing, and providing customization solutions in different aspects of vehicle manufacturing. Besides this, it is employed in the fashion industry to make nylon-based clothes and jewelry items. Furthermore, the escalating demand for prototyping applications in the aerospace, healthcare and defense sectors is strengthening the growth of the market. Moreover, leading players in the industry are investing in research and development (R&D) activities, which is expected to drive the market. Looking forward, the market is projected to reach a value of US$ 117.3 Billion by 2032, expanding at a CAGR of 18.7% during the forecast period (2024-2032).

Market Summary:

Based on the technology, the market has been segmented into stereolithography, fused deposition modeling, selective laser sintering, electron beam melting, digital light processing, and others.
On the basis of the process, the market has been segregated into binder jetting, directed energy deposition, material extrusion, material jetting, powder bed fusion, sheet lamination, and vat photopolymerization. At present, binder jetting dominates the market.
The market has been analyzed on the basis of the material into photopolymers, plastics, metals and ceramics, and others. Presently, photopolymers account for majority of the total global market.
Based on the offering, the market has been divided into printer, material, software, and services. Amongst these, the printer segment holds the biggest market share.
On the basis of the application, the market has been classified into prototyping, tooling, and functional part manufacturing. Prototyping currently dominates the market.
Based on the end user, the market has been segmented into consumer products, machinery, healthcare, aerospace, automobile, and others. At present, consumer products dominate the market.
Region-wise, the market has been classified into Europe, North America, Asia Pacific, Latin America and, Middle East and Africa. At present, North America holds the leading position in the market.
The competitive landscape of the market has been examined, with some of the key players being Stratasys, Ltd., 3D Systems, Inc., Materialise NV, EOS GmbH Electro Optical Systems, Ge Additive, ExOne Company, Voxeljet AG, Hewlett-Packard Company, SLM Solutions Group AG, EnvisionTEC Inc., Proto Labs, Ltd., Mcor Technologies Ltd., Optomec Inc., Groupe Gorgé, Ultimaker BV, Renishaw Plc, Beijing Tiertime Technology and XYZ-Printing.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Technology, Process, Material, Offering, Application, End-User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	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 and Xyzprinting
Customization Scope	10% Free Customization
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Global 3D Printing Market to Reach US$ 117.3 Billion by 2032, Facilitated by Expanding Applications

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