3D Printing Market Size, Share, Growth Analysis, By Offerings(Hardware, Software, Service), By Technology(Fused Deposition Modelling (FDM), Stereolithography (SLA), Selective Laser, Sintering (SLS)), By Process(Powder Bed Fusion, Vat Photopolymerization, Binder Jetting, Material Extrusion), By Application(Prototyping, Tooling, Functional Part Manufacturing), By Material(Polymer, Metal, Ceramic), By Vertical(Automotive, Aerospace & Defense, Healthcare, Architecture & Construction), By Region - Industry Forecast 2024-2031

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.