The global 3D printing market is expected to register a CAGR of 22.5% from 2024 to 2029 and the global market size is estimated to be worth USD 63.9 billion by 2029 from USD 23.16 billion in 2024.
Global 3D Printing Market Drivers:
The growth of the 3D printing market is primarily driven by technological advancements, accessibility, increased customization, design freedom, environmental and sustainability. Printing materials and techniques are expanding quickly which are generating new opportunities for the technology and enabling the production of difficult and personalised products. Additive manufacturing is shifting from prototyping to functional fabrication to meet FDA, ASTM and ISO standards along with new materials, shorter lead times and creative finishes.
Design flexibility and customization are further elevating the 3D printing market growth. 3D printing allows users to manufacture complex and practical products and 3D design software advancements are expanding the possibilities of additive manufacturing. Personalised goods and prototypes can be created by 3D printing, which encourages rapid production and reduces dependency on conventional production chains which leads to the development of new business models and consumer preferences.
Governments are launching programs with financing to universities, research facilities, and technological and scientific groups to further study the potential offered by 3D printing technology and promote its advancement. National initiatives were started by the US, UK, and Canada to support research on 3D printing at the university level, expand technological advancements, and support the growth of start-ups. Governments and business leaders around the world are getting interested in 3D printing as new uses of the technology arise. Like, GE Research was awarded 15 million dollars by the Department of Energy's Advanced Materials and Manufacturing Technologies Office for a project aimed at developing and refining large-scale machinery manufacturing practices using 3D printing.
The high prevalence of dental caries and other dental diseases is further expanding the 3D printing market. The increasing popularity of 3D dental prostheses as the primary restorative choice among dentists is expected to boost dental 3D printing.
Global 3D Printing Market Restraints:
Equipment and technology costs are the primary factors hindering the growth of the 3D printing market. Due to high initial expenses, small companies and developing economies find it difficult to incorporate. Despite being expensive additive manufacturing technologies continue to face issues with consistency, part quality and process stability. AM technologies have low output speed, extra machine calibration time and inline quality control which is new and complicates synchronization with conventional manufacturing and therefore presents barriers for manufacturers to implement.
Global 3D Printing Market Opportunities:
The 3D printing market is set to witness exponential growth in the coming decade. The healthcare industry, aerospace & defense, automotive, construction and consumer goods are expected to expand the market further from the current level. Hospitals will directly integrate additive manufacturing for multiple purposes including surgical, dental and orthopedic instruments. Furthermore, AI applications in 3D printing are expected to grow rapidly in coming years with ChatGPT, generative image software and Nvidia's text-input 3D models showcasing their potential.
The industry is emphasizing accelerating additive manufacturing to produce production-grade parts quickly and effectively. Both hardware and software changes are necessary since Industry 4.0 integration will play a major role in organizing, tracking, maintenance, and quality assurance.
Global 3D Printing Market Challenges:
The gap in additive manufacturing material development, standardization and qualification is a major challenge for the 3D printing market. As of now, few materials can only reach the necessary quality standards thus more standardization is needed for market expansion. The lack of 3D printing software that supports this technology is another factor limiting the market growth rate. Customer-specific AM processes are largely manual with IT solutions such as SAP ERP focusing on types of parts rather than individual parts which hinders the conceptualization of replaceable parts. Furthermore, the lack of guidelines for 3D printed structures by regulatory bodies and building codes is making it difficult to obtain necessary approvals which is derailing the adoption.
Impact of COVID-19 on the global 3D printing market:
The 3D printing market and its economy were significantly impacted by COVID-19. The 3D printers production was severely affected by the lockdowns and shortage of labourers which interrupted the logistics and supply chain. However, the market also grew because of the lockdown relaxation and the use of 3D printing for PPE kits and other medical equipment increased rapidly. This technique enabled the creation of an ad hoc hCPAP device for preclinical testing and treatment of COVID-19 patients, thus resulting in promising results. The application also increased due to economic and geopolitical issues which encouraged the local production.
Market Size Available
2023 to 2029
2024 to 2029
By Component, Technology, Application, End User & Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Market Leaders Profiled
3D Systems Inc., Stratasys, ExOne, SLM Solutions, Voxeljet, Proto Labs, Nano Dimension Ltd., Renishaw Plc, Nanoscribe GmbH and Optomec Inc.
This research report on the global 3D printing market has been segmented and sub-segmented based on component, technology, application, end-user and region.
Global 3D Printing Market - By Component:
Based on component, the hardware segment captured 47.8% of the global market share in 2023 and is predicted to grow at a healthy CAGR during the forecast period owing to the growing popularity of desktop and industrial printers in various industries. In November 2023, Nexa3D launched the xCURE Desktop cure system which reduces post-processing time by up to 80% alongside three new resins for its SLA 3D printing portfolio.
On the other hand, the software segment is expected to grow at a higher CAGR during the forecast period because of increasing significance in workflows for 3D printing design, optimization and post-processing.
Global 3D Printing Market - By Technology:
Based on technology, the SLS segment is anticipated to grow rapidly during the forecast period due to the broad range of materials that are compatible with SLS printing, such as metals, polymers, ceramics, and composites. This enables producers to create extremely intricate, long-lasting parts with superior mechanical qualities. In November 203, Formlabs introduced the Fuse Blast system which is an automated part cleaning and polishing solution that speeds up post-processing and lowers labor costs for selective laser sintering.
Global 3D Printing Market - By Application:
Based on application, the prototyping segment is anticipated to hold the major share of the global 3D printing market during the forecast period owing to its broad application in various industries. Businesses can attain more accuracy and consistently deliver finished products by using prototyping. Three-dimensional computer-aided design models and prototypes are made possible by this technology. Furthermore, according to NASA Marshall Space Flight Centre, the aerospace sector is using fast prototyping and rapid printing models to improve research apparatus and construct supersonic speed models.
Global 3D Printing Market - By End User:
Based on end-users, the healthcare segment is expected to propel at the highest CAGR in the coming years. The demand in developing economies for individualized and cost-effective medical solutions is driving healthcare 3D printing. Along with supporting education and local industry it also tackles the difficulties associated with rural healthcare.
Global 3D Printing Market – By Region:
North America led the market and accounted for 36.8% of the worldwide market share in 2023 and is anticipated to grow promisingly during the forecast period. The investments made by the United States and Canada in cutting-edge manufacturing technologies have driven the regional market forward. For instance, two sets of projects of 45 million dollars were announced by the US Department of Energy to improve manufacturing processes for wind and water energy technologies which are expected to remain in high demand due to their critical roles in the USA's clean energy shift. To achieve its clean energy targets the need for large wind and water turbine components will increase by at least five times over the next ten years.
The European 3D printing market is estimated to propel at a significant growth rate during the forecast period. The growth is driven by the need for fast, dependable and reasonably priced prototypes for production. Moreover, The adoption of this technology in the semiconductor and manufacturing industries is anticipated to rise significantly in the local market. In the aircraft industry, 3D printing is driving the design and testing stages, therefore allowing for unparalleled customization and inventive prototypes.
Asia Pacific is anticipated to grow at the fastest rate in the forecast period. The demand for prototyping and modern manufacturing using 3D printing has increased significantly in the last few years. The growth is also propelled by government efforts, large-scale R&D capabilities and foreign direct investment. China's technological advances are yet another factor in expanding the market. It is a prominent global producer of automobiles and consumer electronics. Recently, the Philippines has implemented initiatives such as the Manufacturing Resurgence Programme to fortify the sophisticated manufacturing sector.
The Latin American 3D printing market is expected to grow at a steady pace in the coming years. A major factor propelling the growth is the increasing incidence of surgical procedures resulting from multiple reasons. Industrial 3D printing technologies are gaining popularity for high-volume production in low to medium-volume manufacturing. Opportunities for high-volume additive manufacturing are expected to rise in Latin America.
Middle East and Africa is estimated to propel with a considerable market share during the forecast period. The market is growing due to increased adoption in healthcare, aerospace, defense, and automotive industries, government initiatives and personalized products. Future trends that are further boosting the share include metal 3D printing adoption, medical sector demand and advancements in advanced materials. Therefore, the market is expected to continue growing.
KEY MARKET PLAYERS
Companies playing a significant role in the global 3D printing market include 3D Systems Inc., Stratasys, ExOne, SLM Solutions, Voxeljet, Proto Labs, Nano Dimension Ltd., Renishaw Plc, Nanoscribe GmbH and Optomec Inc.
RECENT HAPPENINGS IN THE MARKET:
North America is expected to have the largest percentage of the Global 3D printing market share.
Industries such as aerospace, healthcare, automotive, and manufacturing are major contributors to the global 3D printing market share, leveraging additive manufacturing technologies for various applications.
The COVID-19 pandemic has accelerated the adoption of 3D printing for manufacturing medical equipment, personal protective gear, and other critical supplies, showcasing the technology's agility in responding to emergencies.
In 2021, the market stood at US$ 12.6 billion.
The key players are 3D Systems Inc., Stratasys, ExOne, SLM Solutions, Voxeljet, Proto Labs, Nano Dimension Ltd., Renishaw Plc, Nanoscribe GmbH, Optomec Inc., Ultimaker BV, Arcam EBM and Triditive.
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