USD 16.64 Billion
Report ID:
SQMIG45I2161 |
Region:
Global |
Published Date: June, 2024
Pages:
157
|Tables:
187
|Figures:
79
3D Printing Market size was valued at USD 20.65 Billion in 2023 and is poised to grow from USD 25.46 Billion in 2024 to USD 135.99 Billion by 2032, growing at a CAGR of 23.3% during the forecast period (2025-2032).
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.
Global Market Size
USD 16.64 Billion
Largest Segment
Hardware
Fastest Growth
Software
Growth Rate
23.3% CAGR
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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.
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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.
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3D Printing Market Drivers
Growing Consumerism in the Automotive Industry
3D Printing Market Restraints
High Cost of Materials
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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
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.
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.
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 2023 | USD 20.65 Billion |
Market size value in 2032 | USD 135.99 Billion |
Growth Rate | 23.3% |
Base year | 2024 |
Forecast period | 2025-2032 |
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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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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Report ID: SQMIG45I2161
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