Global 3D printing market size is expected to reach around US$ 44 billion by 2025, recording an annual compound rate of above 20% during the forecast period of 2020-2025.
3D printing is a process that forms a three-dimensional object from a computer-aided design (CAD) model, mainly by the successive addition of material layer by layer, so it is also called additive manufacturing.
There are several types of 3D printing technologies, such as selective laser sintering (SLS), thermal inkjet printing (TIJ), stereolithography (SLA), binder injection (BJ), material injection and others. Applications of 3D printers in healthcare include medical uses such as making organs, anatomical models and creating custom prostheses, drugs, tablets, and more. End-users include prosthetics, medical components, tissue engineering, hearing aids, surgical guides, dental implants, drug detection and many more. The manufacturing industry has used 3D printing for decades to produce product prototypes. Many manufacturers use large and fast 3D printers called rapid prototyping machines to create models and molds.
Recent developments:
Market growth and trends:
Metals and Alloy Segment predicted to grow with high CAGR in the forecast period -
For any 3D printed device used for implants/other medical uses, biocompatibility is of paramount importance. Any material used must comply with surface chemistry, surface topography and other parameters that determine the biological response to the implanted device. Titanium alloy and pure titanium are the most preferred and biocompatible metal materials for a biomedical implant. Titanium alloys, such as Ti6Al4V, improve strength and have corrosion resistance. However, it is essential to keep in mind that the high elastic modulus in titanium causes a flexible displacement between the bones and the implant.
In general, titanium is one of the most widely adopted metals for 3D printing for medical applications. The titanium or titanium alloy market is presumed to experience the highest annual growth rate during the forecast period. Thanks to technological advances, the titanium subsegment of 3D printing is expected to revolutionize medical device manufacturers throughout the projection period. However, 3D printed devices require more stringent software and hardware specifications than the specifications of other traditional medical devices. These factors should allow regular and steady growth of companies and general activity over the outlook period.
Drivers and market restraints:
One of the main drivers of the global 3D printing market is the increasing use of this technology in many applications, such as transplantation, medication administration, 3D printed organs and many more in the health industry. The growing demand for implant customizations during surgical procedures, along with the increasing investments in R&D, is also driving global 3D printing in the health market. In addition, the use of 3D printing for making models in automotive, manufacturing and other industries is also boosting the global business.
One of the main challenges in the global 3D printing market is the high cost of 3D printers. Technologies such as stereolithography, laser beam, electron beam, photocuring and drop deposition techniques are too expensive to apply often.
Market segmentation:
By Component
The hardware segment held the principal portion in the global 3D printing market and is likely to continue its dominion in the coming years.
By technology
The direct metal laser sintering technology is predicted to witness the highest growth rate in the foreseen years. FDM and SLA are the most adopted 3D printing technologies around the world that are estimated to continue their demand in future.
By application
Prototyping segment held the lion's share in the global 3D printing market in the review period due to the adoption of this application in end-user verticals like automotive, aerospace, and others. This segment will witness the highest growth rate in the outlook period.
By vertical
Healthcare is one of the booming sectors in terms of 3D printing adoption, which will account for a remarkable revenue and sales in the coming years. Altogether, automotive, healthcare and aerospace and defense will register the highest growth rate and market value in future.
Regional Analysis:
Among these, North America 3D printing market dominated the global business, owing to the early adoption of technology in different verticals, the presence of key players, increasing R&D investments and other factors. The Europe 3D printing market is also a significant contributor to the world market as it includes several manufacturing companies in the vicinity.
Nonetheless, the Asia Pacific 3D printing market is projected to register the highest CAGR in the coming years because of the increasing adoption of this technology in the manufacturing process and healthcare sectors.
Key Market Players:
The main players in the global 3D printing market are Stratasys (United States), 3D Systems Inc. (United States), EOS GmbH (Germany), GE Additive (United States), Materialize (Belgium), EnvisionTec, Inc., Autodesk Inc., Made In Space, Canon Inc., s, among others.
Stratasys and 3D Systems have dominated the 3D printing industry in terms of revenue. These two players rely on their strong research and development (R&D) capabilities, their diversified product portfolio, their global reach, their strategic alliances and their mergers and acquisitions to maintain a large part of the 3D printing market. The market also has many small players that together own the remaining part.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 3D Printing Market, By Component
6.1.1 Hardware
6.1.2 Software
6.1.3 Services
6.1.4 Market Size Estimations & Forecasts (2019-2024)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 3D Printing Market, By Technology
6.2.1 Direct Metal Laser Sintering (DMLS)
6.2.2 Stereolithography (SLA)
6.2.3 Fused Deposition Modeling (FDM)
6.2.4 Selective Laser Sintering (SLS)
6.2.5 Polyjet/Multijet Printing (MJP)
6.2.6 Inkjet Printing
6.2.7 Electron Beam Melting (EBM)
6.2.8 Laminated Object Manufacturing (LOM)
6.2.9 Digital Light Processing (DLP)
6.2.10 Market Size Estimations & Forecasts (2019-2024)
6.2.11 Y-o-Y Growth Rate Analysis
6.2.12 Market Attractiveness Index
6.3 3D Printing Market, By Application
6.3.1 Prototyping
6.3.2 Functional Part Manufacturing
6.3.3 Tooling
6.3.4 Market Size Estimations & Forecasts (2019-2024)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
6.4 3D Printing Market, By Vertical
6.4.1 Automotive
6.4.2 Healthcare
6.4.3 Consumer Goods
6.4.4 Industrial
6.4.5 Aerospace and Defense
6.4.6 Market Size Estimations & Forecasts (2019-2024)
6.4.7 Y-o-Y Growth Rate Analysis
6.4.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Component
7.2.3 By Technology
7.2.4 By Application
7.2.5 By Vertical
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Component
7.3.3 By Technology
7.3.4 By Application
7.3.5 By Vertical
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Component
7.4.3 By Technology
7.4.4 By Application
7.4.5 By Vertical
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Component
7.5.3 By Technology
7.5.4 By Application
7.5.5 By Vertical
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Component
7.6.3 By Technology
7.6.4 By Application
7.6.5 By Vertical
8. Key Player Analysis
8.1 Stratasys
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 3D Systems Inc.
8.3 EOS GmbH
8.4 GE Additive
8.5 Materialize
8.6 EnvisionTec, Inc.
8.7 Autodesk Inc.
8.8 Made In Space
8.9 Canon Inc.
8.10 Voxeljet AG
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
