3D Printing Market: Global Industry Analysis and Forecast (2022-2029)

3D Printing Market was worth USD 4.18 Bn  in 2021 and total revenue is expected to grow at a rate of 28% CAGR from 2021 to 2029, reaching almost USD 30.17 Bn in 2029.
3D Printing Market Overview:
The market is expected to grow due to aggressive Research and Development (3DP) and rising demand for prototyping applications from various industry verticals, particularly healthcare, automotive, and aerospace and defense. Additive Manufacturing (AM) is the name given to the industrial application of 3DP, which entails the layer-by-layer addition of material to construct an object based on a three-dimensional file using software and a three-dimensional printer. The final step entails deploying this process across various industry verticals as needed. Manufacturers may create products utilizing a digital file and a variety of printing materials using 3D printing, also known as desktop fabrication or additive printing technology. Polymers, metals, and ceramics are some of the materials utilized in 3D printing. 3D printing provides approaches that can make complex design production a reality.

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3D Printing Market Dynamics:
The popularity of print-on-demand parts for the creation of customized functional parts has accelerated due to the availability of materials and developments in 3D printing technologies. 3D printing allows for the creation of personalized products that are customized to the individual's demands and specifications. The businesses offer customized services, such as fundamental design creation by designers, followed by the opportunity for customers to participate in the product design process. The easy manufacturing of custom-made products is made possible by ongoing technological advancements in existing 3D printing technologies, lower printer costs, and the availability of a variety of materials.

Traditional manufacturing procedures have access to a wider range of raw materials than 3D printing-based production processes. Due to high material costs, product manufacturing using 3D printing technology is a costly process, which is a key market limitation. The materials that can be employed are currently limited, despite the fact that the technique is a huge process innovation. In addition, due to a lack of suitable standards for the mechanical qualities of the materials employed, the accuracy and reproducibility of goods created by 3D printing are restricted.

Manufacturers of masks, personal protective equipment, testing equipment, and other medical goods have been encouraged to focus on their manufacturing due to increased demand. The rising number of patients combined with the shortage of raw materials needed to manufacture medical gadgets and personal protective equipment has wreaked havoc on the global supply chain. This has prompted manufacturers to look for alternatives that might assist in the mass production of these components while remaining as efficient as the original equipment.

The increased use of this technology and the expiration of patents, 3D printers are expected to become quite ubiquitous. Companies have already begun submitting their files to websites for buyers to select their products, after which they will be shipped to them. Customers may expect a higher level of personalization for the things they buy as a result of increased usage. Increased consumer adoption may lead to an increase in 3D piracy, or customers' ability to manufacture products themselves rather than purchasing them from suppliers.
3D Printing Market Segment Analysis:
3D Printing Market is segmented into by Technology, Offering, Process, End use and Application.

Based on Technology Type, The market is sub-segmented into Selective laser sintering, stereo lithography, Electron beam melting, laminated object manufacturing, fused deposition modeling and others. In 2021, the stereo lithography segment dominated the market, accounting for more than 10% of global sales. Stereo lithography, 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 other technologies have been segmented based on technology.

Based on Application, the market is sub-segmented into Prototyping, Tooling, and Functional Manufacturing. Prototyping is used extensively in the automotive, aerospace, and defense industries to precisely design and build parts, components, and complex systems. Manufacturers can attain improved accuracy and build more reliable end products by prototyping. As a result, over the forecast period, the prototyping segment is expected to continue to dominate the market. Prototyping is used extensively in the automotive, aerospace, and defense industries to design and create accurate parts, components, and complex systems. Manufacturers can attain more accuracy and build more dependable end products by prototyping. As a result, over the forecast period, the prototyping segment is expected to maintain its dominance.
3D Printing Market Regional Insights:
North America will continue to dominate the market in 2021, accounting for more than 35% of global sales. Because of the widespread use of additive manufacturing in the region, North America dominated the market. North American countries such as the United States and Canada were early adopters of 3D printing technologies in various manufacturing processes. Europe, on the other hand, is the largest region in terms of geographical area. It is home to a number of participants in the additive manufacturing business who have in-depth technical knowledge of the processes.

The Asia Pacific area, on the other hand, is expected to have the greatest CAGR during the forecast period. The expansion and improvement of Asia Pacific's manufacturing industry can be attributed to the region's quick adoption of additive manufacturing. In addition, the Asia Pacific area is becoming a manufacturing hub for the automobile and healthcare industries. Dominance on consumer electronics manufacture, along with increased urbanization, is driving up demand for three-dimensional printing in the region.

Objective of the report is to present a comprehensive analysis of the 3D Printing Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global market dynamics, structure by analyzing the market segments and project the 3D Printing Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the 3D Printing Market make the report investor’s guide
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Global 3D Printing Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
USD 4.18 Bn.


Forecast Period 2022 to 2029 CAGR:
28%
Market Size in 2029:
USD 30.17 Bn.


 Segments Covered:
by technology
• Selective Laser Sintering
• Sterio Lithography
• Electron Beam Melting
• Laminated Object Manufacturing
• Fused Deposition Molding
• Others


by Offering
• Printer
• Material
• Software
• Services


by Process
• Vat Polymerization
• Sheet Lamination
• powder bed Fusion


by End-User
• Defense
• Aerospace
• Industrial
• Education
• Consumer Products
• Automotive
• Electronics
• Energy
• Others


by Application
• Prototyping
• Tooling
• Functional Manufacturing



3D Printing Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
3D Printing Market key player
• Stratasys Ltd.
• 3D Systems Corporation.
• EOS GmbH Electro Optical Systems
• Concept – Laser GmbH, Sisma SpA
• ExOne Co.
• Arcam AB.
• SLM Solutions Group AG.
• Materialise NV (ADR).
• Proto Labs Inc.
• Citim GmbH.
• Digital Mechanics Sweden AB
• Stratasys Ltd.
• EOS GmbH
• Materialise NV
• SLM Solutions Group AG
• Arcam AB, Concept Laser GmbH
• The ExOne Company
• Voxeljet AG
• Proto Labs
• Optomec Inc.
• ARC Group Worldwide
• GROUPE GORGE
• EnvisionTEC GmbH
• Mcor Technologies Ltd.
• Beijing Tiertime Technology Co. Ltd.
• Renishaw plc
• XYZprinting
• Ultimaker BV

Frequently Asked Questions:

1. Which region has the largest share in Global 3D Printing Market?
Ans: Europe region held the highest share in 2021.

2. What is the growth rate of Global 3D Printing Market?
Ans: The Global 3D Printing Market is expected to grow at a CAGR of 28% during forecast period 2022-2029.

3. What is scope of the Global 3D Printing Market report?
Ans: Global 3D Printing Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global 3D Printing Market?
Ans: The important key players in the Global 3D Printing Market are – Stratasys Ltd., 3D Systems Corporation., EOS GmbH Electro Optical Systems, Concept – Laser GmbH, Sisma SpA, ExOne Co., Arcam AB., SLM Solutions Group AG., Materialise NV (ADR)., Proto Labs Inc., Citim GmbH., Digital Mechanics Sweden AB, Stratasys Ltd., EOS GmbH, Materialise NV, SLM Solutions Group AG, Arcam AB, Concept Laser GmbH, The ExOne Company, Voxeljet AG, Proto Labs, Optomec Inc., ARC Group Worldwide, GROUPE GORGE, EnvisionTEC GmbH, Mcor Technologies Ltd., Beijing Tiertime Technology Co. Ltd., Renishaw plc, XYZprinting, and Ultimaker BV.

5. What is the study period of this market?
Ans: The Global 3D Printing Market is studied from 2021 to 2029.