3D Printing Market by Components (Printer [Industrial Printer, Desktop 3D Printer], Material [Metals, Polymers, Ceramics], Software [Design Software, Printer Software, Scanning Software, Inspection Software], Service [Custom Design & Manufacturing, After-Sales Services], by Process (Powder Bed Fusion, Binder Jetting, Direct Energy Deposition, Sheet Lamination, Vat Photopolymerization, Material Extrusion, Material Jetting), by Technology, by Application, by Industry, by Geography (U.S., Canada, Germany, U.K., Italy, Spain, Japan, China, India, South Africa, Mexico, Brazil) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023

3D Printing Market Overview

The global 3D printing market was valued at $8,583.6 million in 2017 and is expected to register a CAGR of 24.6% during the forecast period (2018–2023). Some of the major factors positively impacting the growth of the market are the rising demand for mass customization and ease of developing customized products. Additionally, the advantages offered by the 3D printing technology, such as reduced material usage, less labor cost, and decreased transportation cost, are making an impact on the manufacturers and driving the growth of the market.

On the basis of component, the 3D printing market is categorized into printer, material, software, and service. Among these, the printer category held the largest share in 2017. This is attributed to the rising deployment of industrial 3D printers in regions such as North America and Asia-Pacific (APAC). The rising deployment of 3D printers is due to their ability to produce complex geometric forms in a single step, thereby resulting in higher efficiency and lower manufacturing cost.

GLOBAL 3D PRINTING MARKET SIZE, BY PRINTER, $M (2013-2023)

Based on process, the 3D printing market is classified into binder jetting, direct energy deposition, material extrusion, material jetting, powder bed fusion, sheet lamination, and vat photopolymerization. Among these, the powder bed fusion category contributed the highest revenue to the market in 2017. This was due to the fact that the powder bed fusion process is relatively less expensive and does not necessitate support structures while making products. Besides, this process supports a wide range of materials, including ceramics, glass, plastics, metals, and alloys, to make 3D objects.

Based on industry, the 3D printing market is categorized into aerospace & defense, healthcare, jewelry, automotive, industrial, architecture & construction, energy, and others; wherein others include consumer products, education, printed electronics, and food & culinary. Among these, the aerospace and defense category accounted for the largest 3D printing market share in 2017 owing to the widespread adoption of 3D printing by aerospace and defense component manufacturers to design and test products in a shorter duration, along with reducing the cost of manufacturing tooling and fixtures. The energy category is predicted to witness the highest CAGR during the forecast period, The energy sector is increasingly using advanced 3D printing processes for designing/manufacturing high-resolution prototypes and complex production parts, which, in turn, would drive the market of 3D printing in energy industry.

Geographically, the North American region accounted for the largest share in the 3D printing market in 2017 owing to the widespread adoption of the technology, technological advancements, and increasing research and development (R&D) investments. In North America, various government initiatives are financially supporting advanced manufacturing and 3D printing research. The National Additive Manufacturing Innovation Institute (NAMII) is a public–private institute for manufacturing innovation, located in the U.S., which helps in the speedy integration of 3D printing technologies in the country’s manufacturing sector.

3D Printing Market Dynamics

Trends

One of the key trends being observed in the 3D printing market is the rapid shift of manufacturers toward this technology from traditional manufacturing processes. 3D printing offers higher speed and better quality, in addition to high surface finish and geometrical and dimensional accuracy, due to which an increasing number of manufacturers are shifting toward it from traditional manufacturing processes. The biggest advantage of 3D printing over traditional manufacturing, though, is that it doesn’t require any special new tooling to manufacture a product. Due to this reason, many companies are actively adopting the 3D printing technology to pursue cost savings by reducing their inventories. 3D printing allows for easy and inexpensive innovation in design, due to which it is being adopted more over the traditional manufacturing process.

Drivers

3D printing is meeting the demand generated for customization by the end users. Mass customization is the production of goods on the basis of the preference of the consumer. Today, consumers want products that match their individuality, such as highly customizable gadgets and personal vehicles, which is positively impacting the 3D printing market. For instance, Skoda Auto, a car manufacturer, at the time of launching a new model of its car series, Fabia, let users make their own 3D car models. A mini-model of the car was delivered to the user with their name under the car.

Mass customization is not only limited to this; it is also highly sought-after in lifestyle and fashion. Today, shoes are also being made by 3D printers. Such shoes are tailored to the need of the user, primarily comfort, as accurate fit of the shoes on the user’s feet is highly desirable. This is also a key factor helping in the growth of 3D printing popularity in mass customization, thereby driving the 3D printing market.

Restraints

The emission of fine particles, associated with desktop 3D printers, is hindering the growth of the 3D printing market. Desktop 3D printers emit a large number of ultrafine particles, which are hazardous to health. When emitted in confined spaces, these particles may settle in the bloodstream of the user, posing risks of cancer and other conditions, which can be attributed to thermoplastic extrusion and deposition. These disadvantages are expected to limit the growth of 3d printing market during the forecast period.

Opportunities

The adoption of 3D printing in direct digital manufacturing (DDM) is providing lucrative opportunities to the 3D printing market. DDM is the process that is used to make the required parts directly, using computer-aided design (CAD) or other software, to drive additive manufacturing. Companies are integrating the DDM process into their operations to eliminate investments in tooling, remove the time lag between designing and production, and do away with the avoidable expenses for redesign. 3D printing technology-driven DDM enables companies to accomplish these objectives, which, in turn, increases the demand for 3D printing.

3D Printing Market Competitive Landscape

The global 3D printing market is highly competitive in nature, primarily due to the presence of numerous players. Some of the key companies operating in the 3D printing market are 3D Systems Inc., Stratasys Ltd., The ExOne Company, Voxeljet AG, Arcam AB, SLM Solutions Group AG, EnvisionTEC Inc., Materialise NV, Concept Laser GmbH, and Autodesk Inc.

Key questions answered in the report

• What is the current scenario of the global 3D printing market?
• What are the emerging technologies for the development of 3D printing?
• What are the historical size and the present size of categories within the market segments and their future potential?
• What are the major catalysts for the market and their impact during the short, medium, and long terms?
• What are the evolving opportunities for the players in the market?
• Which are the key regions from the investment perspective?
• What are the key strategies being adopted by the major players to expand their market share?