USD 16.64 Billion
3D Printing Market Size, Share, Growth Analysis, By Type(Plastics, Metals, Ceramics, and Others), By End-users(Automotive, Aerospace & Defense, Industrial, Medical), By Software(Design Software, Inspection Software, Printer Software, and Scanning Software), By Technology(Stereolithography, Fused Deposition Modeling (FDM), Direct Metal Laser Sintering (DMLS), Selective Laser Sintering (SLS)), By Component(Hardware, Software, Services), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45I2161 |
Region:
Global |
Published Date: June, 2024
Pages:
157
|Tables:
187
|Figures:
79
3D Printing Market Insights
3D Printing Market size was valued at USD 16.64 Billion in 2022 and is poised to grow from USD 20.65 Billion in 2023 to USD 110.29 Billion by 2031, growing at a CAGR of 23.3% in the forecast period (2024-2031).
According to the survey, 32% of people in the automotive, aerospace and aerospace sector use 3D printing materials to make or build devices. Many complex technologies such as Fused Filament Fabrication (FFF) are used to produce prototypes and end-use parts. Plastic is considered the main driver of this segment, which uses detailed, accurate, flexible 3D printed scales in the automotive industry to showcase innovative vehicle concepts and designs. Furthermore, new technologies and innovations contribute to the growth of the market during the forecast period.
The industrial application of 3D printing is often referred to as additive manufacturing (AM). Additive manufacturing involves assembling materials layer by layer to produce products by specifying a three-dimensional file with the help of software and a 3-dimensional printer. The final step is to implement this framework in different business verticals based on the need.
Deployment includes providing installation services, consulting solutions, and customer support, and handling aspects of copyright, licensing and patenting. As a result, manufacturing costs have been significantly reduced, and manufacturers can offer excellent products at reasonable prices. Due to these advantages, it is expected that the demand for 3D printers will increase in the coming years.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hardware
Fastest Growth
Software
Growth Rate
23.3% CAGR
Global 3D Printing Market ($ Bn)
Country Share for North America Region (%)
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3D Printing Market Segmental Analysis
Global 3D Printing Market is segmented based on Type, Component, End Users, Software, Technology, and Region. Based on Type, the market of 3D printing is segmented into Plastics, Metals, Ceramics, and Others. Based on Component, the market of 3D printing is Segmented into Hardware, Software, Services. Based on End-users, the market for 3D printing materials is segmented into Automotive, Aerospace & Defense, Industrial, Medical and Others. Based on Software, the market for 3D printing is segmented into Design Software, Inspection Software, Printer Software, and Scanning Software. Based on Technology, the market for 3D printing is segmented into Stereolithography, Fused Deposition Modeling (FDM), Direct Metal Laser Sintering (DMLS), Selective Laser Sintering (SLS), Inkjet, Polyjet, Laser Metal Deposition, Electron Beam Melting (EBM), Digital Light Processing, Laminated Object Manufacturing, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, South America, Middle East and Africa (MEA).
3D Printing Market Analysis by Software
The design software segment led the market and accounted for more than 36% of the global revenue in 2022. It is expected to continue dominating the market during the forecast period. As additive manufacturing (AM) technology has advanced, the demand for sophisticated manufacturing software has increased. These software solutions are necessary to harness the full capabilities of 3D printers, enabling users to create complex geometries and structures that were previously impossible or impractical Improvements in In AM applications necessitates advanced design software. Based on software, the 3DP business is segmented into design software, inspection software, printer software and scanning software. Design software is used to design printable products, especially in automotive, aerospace, defense, and manufacturing technology verticals. Design software acts as a bridge between the printed product and the printer hardware.
The scanning software segment will register the highest CAGR of 24% from 2024 to 2031 due to increasing adoption of scanners. It is expected to generate significant revenue over the forecast period. The demand for scanning software is estimated to increase due to the growing trend of scanning and storing scanned documents.
3D Printing Market Analysis by Technology
The stereolithography segment led the market and accounted for over 10.0% of global revenue in 2022. The stereolithography (SLA) segment dominates the 3D printing market. SLA technology is known for its ability to produce high-quality and accurate text. The process uses a laser to treat the complex parts of the liquid resin in each layer, creating intricate detail and a smooth surface finish. This capability makes SLAs especially valuable in industries that require detailed and accurate modeling such as aerospace, automotive, and jewelry. SLA printing typically exhibits good mechanical properties such as high strength and toughness. The resins used in SLAs can be designed to meet specific performance requirements, including heat resistance, flexibility, and durability. This versatility in material properties makes SLA interesting for functional components and end users.
Fused deposition modeling (FDM) revenue shows significant growth in 2022 due to high adoption of technology in 3DP applications DLP, EBM, inkjet printing, and DMLS segments will see higher adoption, because these technologies are used in major additive manufacturing processes. The increasing demand will open opportunities for the adoption of these technologies.
Global 3D Printing Market By Technology (%)
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3D Printing Market Regional Insights
North America is expected to dominate the market during the forecast period. The region accounts for approximately 23% of the global 3D printing materials sales value. Positive trends in the medical, aerospace and aerospace industries will drive the market growth in North America 3D printing adoption in many industries and enhanced material options will have potential growth. Measures taken by the US government to increase funding for research and development will increase the adoption of 3D printing materials and equipment in the region.
The Asia-Pacific is expected to emerge as the fastest growing market with extensive application in the healthcare industry. Rising inflow of 3D printed products from Japan, China and South Korea is expected to drive the market owing to favorable government regulations, large technology base and huge investment in R&D. Moreover, increasing demand from end-user segments such as automotive, defense, aerospace, and consumers is likely to propel the market growth throughout the forecast period.
Global 3D Printing Market By Geography
- Largest
- Fastest
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3D Printing Market Dynamics
3D Printing Market Drivers
Growing Consumerism in the Automotive Industry
- 3D printing is increasingly used in the automotive industry to create scale models for testing purposes. They are also used for components, such as bellows, front bumpers, air conditioning ducting, suspension wishbones, dashboard interfaces, alternator mounting brackets, battery covers, etc. Automotive OEM manufacturers use 3D printing for rapid prototyping.
3D Printing Market Restraints
High Cost of Materials
- 3D printing is a convenient but expensive way to manufacture products due to high material cost which is a major limiting factor for market growth. These high standards are due to the accuracy and composition required for 3D printing. The average cost of metal materials for 3D printing is USD 500.0 per kg which makes it very difficult to use in general applications because the end-product costs are very high as compared to sales.
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3D Printing Market Competitive Landscape
The competitive environment of the Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.
3D Printing Market Top Players Company Profiles
- Protolabs (United States)
- Arcam AB (Sweden)
- Voxeljet AG (Germany)
- ExOne Company (United States)
- Organovo Holdings, Inc. (United States)
- Autodesk, Inc. (United States)
- Hoganas AB (Sweden)
- Stratasys Ltd. (United States/Israel)
- 3D Systems Corporation (United States)
- XYZprinting, Inc. (Taiwan)
- Höganäs AB (Sweden)
- Optomec Inc. (United States)
- Mcor Technologies Ltd. (Ireland)
- Carbon Inc. (United States)
- Desktop Metal, Inc. (United States)
- Nano Dimension Ltd. (Israel)
- Prodways Group (France)
- Beijing Tiertime Technology Co., Ltd. (China)
- Ultimaker B.V. (Netherlands)
- EnvisionTEC GmbH (Germany)
3D Printing Market Recent Developments
-
In March 2023, 3D Systems, Inc. introduced NextDent Cast and NextDent Base as printing substrates and NextDent LCD1 as a compact printing system. These advancements are likely to enhance material properties and reduce complexity of print sizes, positioning the customers for fast and additive manufacturing convergence.
-
In November 2023 Autodesk Inc. introduced Autodesk AI as a fundamental platform implemented in Autodesk products to provide the users with generative capabilities and wise assistance. This innovation aims to reduce errors by minimizing repetitive work, thus meeting the customers’ needs to the latter’s potential.
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In February 2022, Imaginarium started a partnership with Ultimaker for introducing desktop & industrial 3D printer range in the India 3D Printing market. This partnership will help Ultimaker expand its presence in India, which is expected to experience rapid adoption of additive manufacturing in the coming years.
3D Printing Key Market Trends
- Education is one of the fastest growing sectors in the 3D printing market during the forecast period. Although the use of 3D printing in education is still in its infancy, many institutions have begun to set up 3D printing facilities. 3D printing technology is also transforming the traditional classroom. Engineering students can print samples of their designs; Biology students can research a cross-section of an organ, and graphic design students can 3D print their artwork. 3D printing is very useful in creating interactive maps to teach geography to students. Moreover, governments in various countries are investing heavily in 3D printing technology.
3D Printing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, 3D printing is the process of creating three-dimensional objects using CAD models or digital 3D models. 3D printing materials are diverse and varied. The global 3D printing is primarily driven by the increasing demand in industries such as construction, automotive, aerospace, military, medical substitutes etc. Positive outlook for the automotive industry will fuel the growth of the market in the future. The cost of advanced 3D printers and materials can be prohibitive for SMEs. In addition, the need for skilled labor increases the initial investment. New trends in 3D printing technology, such as faster printing speeds, higher accuracy, and innovation are key drivers.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 16.64 Billion |
| Market size value in 2031 | USD 110.29 Billion |
| Growth Rate | 23.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on 3D Printing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on 3D Printing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 3D Printing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the 3D Printing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the 3D Printing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 3D Printing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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