Global 3D Printing Market Size, Share & Trends Analysis Report By Technology, By Material Type, By End-user Industry, By Region, and Segment Forecasts, 2023 - 2030

Global 3D Printing Market Size, Share & Trends Analysis Report By Technology, By Material Type, By End-user Industry, By Region, and Segment Forecasts, 2023 - 2030

Global 3D Printing Market Size, Share & Trends Analysis Report By Technology, By Material Type, By End-user Industry, By Region, and Segment Forecasts, 2023 – 2030

The Global 3D Printing Market was valued at around US $15.67 BN in 2022 and is expected to reach US $35.45 BN by 2030 with a CAGR of 19.20% during the forecast period.

3D printing is an additive manufacturing technique used to create components. Due to its ""additive"" nature, physical objects can be created by building and joining successive layers of materials rather than requiring a solid block or mould. This process is usually quick, requires few initial setup costs, and allows for the production of complex structures that could be difficult to achieve using traditional methods. Furthermore, the selection of materials that work with 3D printing keeps expanding. It is widely used in the engineering field, particularly in the creation of lightweight constructions and prototypes.

The expansion of the global market is expected to be driven by the increasing adoption of 3D printing technologies by various businesses worldwide for their diverse product manufacturing processes over the forecast period. For example, 40% of 3D printing technology was used internationally, according to a report by Formlabs, a manufacturer of 3D printing technology and creator of 3D Printing Applications Report. Globally, large factories, amateurs, entrepreneurs, and students all have easier access to technology. Though the principal areas in which 3D printing is heavily employed are the automotive, defence, and healthcare sectors, the technology is becoming more and more widespread throughout the world's end-user industries. 3D printing has found many uses in the healthcare industry across a range of industries. It is extensively used in the creation of novel surgical cutting and drill guides, the manufacture of personalised prosthetics, and the creation of patient-specific bone, organ, and blood artery replicas. Defence uses 3D printing to make rocket shells, engines, and even parts of an astronaut's suit. In the defence industry, 3D printing is used to make equipment such as storage buildings, bunkers, tanks, firearms, pistol parts, and ammunition. Aerospace rocket shells, rocket engines, and even some components of astronaut uniforms are made via 3D printing. The worldwide 3D printing market is being driven by the growing government initiatives aimed at encouraging the use of 3D printing technology in the defence industry. The market is expanding due to growing developments in the automotive sector that use 3D printing technology to create lightweight automobiles. For example, in April 2023, the American aerospace manufacturing company Relativity Space announced that they would be developing Terran R, an orbital launch vehicle intended for medium-to-heavy lift that would be made of reusable 3D-printed aluminium. Over the course of the forecast period, such advancements are anticipated to increase the demand for 3D printing technology globally for a variety of applications.

“Stereolithography segment, by technology, to be dominating market from 2023 to 2030.”

The market is segmented into several categories based on technology, including electron beam melting, digital light processing, selective laser sintering, fused deposition modelling (FDM), and stereolithography (SLA). In 2022, stereolithography held the top spot in the worldwide 3D printing market, and this trend is anticipated to continue throughout the forecast period. Using photopolymerization, stereolithography (SLA) is a sort of 3D printing technology that builds three-dimensional things layer by layer. In SLA, ultraviolet (UV) light is applied to a liquid resin just to for it to solidify and take on the required shape. Once each layer is finished, the build platform is lowered, and this procedure is repeated until the entire thing is manufactured. Because of the technology's capacity for quick prototyping and iteration, selective laser sintering is expected to increase at the quickest rate during the projection period. Because selective laser sintering is speedy and enables rapid prototyping, businesses can test ideas, iterate designs, and launch goods more quickly, increasing their market share.

“Automotive segment, by end user industry, to be dominating market from 2023 to 2030.”

The market is segmented into automotive, aerospace and defence, healthcare, architecture and construction, consumer products, education, and other end-user industries (food, energy, etc.) based on the industry. The global 3D printing market was driven by the automotive sector in 2022, and this trend is anticipated to continue during the forecast period. Automotive producers can test, iterate, and alter the design of car parts and assemblies more quickly thanks to 3D printing, which can quickly create prototypes in a matter of hours. Additionally, the production of lightweight vehicle parts is another application for 3D printing. The healthcare sector is expected to increase at the quickest rate throughout the projection period. Many uses of 3D printing are found in the medical field, including the creation of tissues and organoids, surgical instruments, patient-specific surgical models, and custom prosthetic limbs. The market share is impacted by the growing use of 3D printing in the medical field.

“North America to be largest region in 3D Printing market.”

Geographically, the market is split into North America, Europe, Asia-Pacific, and other regions. In 2022, North America held the largest market share for 3D Printing industry. The main reason for the large market share of the North American region is the significant presence of the major important players in the United States.

APAC is predicted to develop at the quickest rate during the forecast period due to the rise in advanced manufacturing and prototyping in the automotive and medical industries. Global market expansion for 3D printing is also anticipated to be fuelled by an increase in regional government efforts supporting its adoption.

3D Printing Competitive Landscape

The competitive landscape of the 3D Printing market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of 3D Printing technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The 3D Printing market is highly competitive, with numerous companies vying for market share. Prominent companies in the 3D Printing Market include:

Major Players:

Statasys, Ltd.

3D Systems, Inc.

Materialise

EOS GmbH

GE Additives

Voxeljet AG

EnvisionTec, Inc.

SLM Solutions

Canon Inc.

The market is dominated by Stratasys, Ltd. The business was founded in 1989. Stratasys produces additives for consumer goods, automotive, aerospace, and healthcare. The technologies that the company provides are as follows: FDM technology, PolyJet technology, P3 technology, Stereolithography technology, Selective Absorption Fusion (SAF) technology2, and 3DFashion technology. Additionally, the company produces software for 3D printers, including Digital Anatomy Creator, GrabCAD Software, and Connectivity.

The market's second-largest source of income is Takeda Pharmaceuticals. Full-service digital manufacturing and 3D printing solutions are provided by 3D Systems Corp. They produce software, digital design tools, and 3D printers for plastic and metal materials. In addition, they offer on-demand manufacturing services. Healthcare Solutions and Industrial Solutions are the two primary divisions of the organisation. The Industrial segment generates the most revenue for them. The business is present all over the world, particularly in the Middle East, Asia Pacific, Europe, and North America.

Recent Developments:

On May 26, 2023, Desktop Metal Inc. and Stratasys Ltd. announced a USD 1.8 billion stock transaction and a collaboration to develop additive manufacturing technologies for mass production.

On April 5, 2023, Stratasys Ltd., a producer of polymer 3D printing solutions, declared that it has acquired Covestro AG's additive manufacturing materials division. The acquisition is expected to bolster the company's operations in additive manufacturing.

November 25, 2022: Based on fused filament fabrication (FFF) technology, Wipro 3D, the top supplier of additive manufacturing solutions in India, has introduced the Wipro 3D F300-2, their flagship industrial-grade 3D printer. This is the first printer in the company's range of locally developed printers that will be made public in the near future.

On November 15, 2021, 3D Systems revealed plans to expand additive manufacturing (AM) innovation through partnerships and new product introductions. The plan is to present high-throughput 3D printing technologies, improve AM software, introduce a new production-grade light-activated resin intended for automotive components, and form a strategic partnership with UK startup Additive Manufacturing Technologies (AMT) to introduce innovative 3D printing workflows.