3D Printing Market

Global 3D Printing Market Size, Share & Industry Trends Analysis Report By Component (Product, Software, and Services), By Technology, By Application, By Vertical, By Regional Outlook and Forecast, 2023 - 2030

Report Id: KBV-866 Publication Date: October-2023 Number of Pages: 551
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Market Report Description

The Global 3D Printing Market size is expected to reach $86.4 billion by 2030, rising at a market growth of 21.4% CAGR during the forecast period.

3D printing is transforming healthcare by allowing the production of patient-specific implants, prosthetics, and anatomical models for surgical planning. Consequently, the Healthcare segment would register 1/5th share in the market by 2030. This technology improves patient outcomes, reduces surgery times, and enhances medical training. The dental industry benefits from 3D-printed crowns, bridges, and orthodontic devices. Drug delivery systems and tissue engineering applications have also emerged, offering promising solutions for personalized medicine and regenerative therapies. The efficiency, precision, and customization capabilities of 3D printing in healthcare significantly impacts patient care and the medical field's overall advancement.

3D Printing Market Size - Global Opportunities and Trends Analysis Report 2019-2030

The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In June, 2023, Voxeljet AG unveiled Cold IOB, a new inorganic 3D process technology. This launch would be an important step towards further adoption of printed cores and molds with inorganic binders in the foundry industry. Additionally, In June, 2022, Stratasys unveiled Stratasys RadioMatrix, to produce ‘radio-realistic models’ that could be under CT scans & X-rays.

KBV Cardinal Matrix - Market Competition Analysis

Based on the Analysis presented in the KBV Cardinal matrix; Canon, Inc. is the forerunner in the 3D Printing Market. Companies such as Autodesk, Inc., Stratasys Ltd., and 3D Systems Corporation are some of the key innovators in 3D Printing Market. In May, 2022, Stratasys launched F190 CR and F370 CR machines, F123 Series of FDM 3D printers, and FDM Nylon-CF10 material, new carbon fiber-reinforced, developed for manufacturers & industrial machinists to produce end-use components, and jigs, fixtures & work holding tools.

3D Printing Market - Competitive Landscape and Trends by Forecast 2030

Market Growth Factors

Rising regulatory support by national and local government bodies

Governments worldwide recognize the potential of 3D printing to drive innovation, boost local manufacturing, and address various societal challenges. China has made significant investments in 3D printing as part of its "Made in China 2025" initiative, which aims to upgrade its manufacturing capabilities. The German government has supported various 3D printing projects and research initiatives, especially in Industry 4.0. Germany's Fraunhofer Institute, a leading research organization, has been involved in numerous additive manufacturing projects. Some governments offer tax incentives and subsidies to encourage the adoption of 3D printing in manufacturing and small businesses. These incentives can help reduce the initial investment required for 3D printing equipment and materials. Thus, the rising support from government bodies is enabling the expansion of the market.

Expansion of the global manufacturing sector

The expansion of the global manufacturing sector profoundly impacts the 3D printing market. One significant effect is the growing adoption of 3D printing technology across various manufacturing industries. As manufacturers seek to streamline their production processes, reduce lead times, and improve cost efficiency, 3D printing offers an attractive solution. Moreover, the expansion has led to greater collaboration between traditional manufacturing processes and 3D printing. Companies are integrating 3D printing to create tooling, molds, and prototypes, supporting a seamless transition from design to production. Therefore, the expansion of the global manufacturing sector has significantly impacted the 3D printing market by driving adoption, fostering innovation, promoting on-demand production, and encouraging collaboration between 3D printing and traditional manufacturing processes.

Market Restraining Factors

High initial costs and limited material selection

The high initial costs associated with 3D printing technology can significantly hinder its broader adoption and growth. For many businesses and organizations, especially smaller enterprises, the substantial upfront investment required to acquire 3D printing equipment and related infrastructure can be a deterrent. These costs encompass the purchase of the 3D printer itself and the expenditure on materials, software, and maintenance. Consequently, the restricted material selection can hinder the adoption of 3D printing in industries that demand a broader range of material options for their production needs. Thus, the high initial costs and limited material selection significantly deter the growth of the 3D printing market.

Component Outlook

Based on components, the 3D printing market is characterized into product, software, and services. The services segment procured a considerable growth rate in the 3D printing market in 2022. The service segment is gaining significant momentum as a source of profit generation as a result of advancements in printing technology and materials. Many businesses across various industries are anticipated to outsource everything, from product design to production, to survive in the fiercely competitive markets, as 3D printing technology makes it possible to manufacture products with complicated shapes and presents competitive pricing in contrast to traditional manufacturing methods.

Product Outlook

The product segment is further segmented into printer and material. The printer segment acquired the largest revenue share in the 3D printing market in 2022. 3D printers are versatile tools that offer rapid prototyping, enabling designers to quickly iterate and test their concepts. These printers are cost-effective for low-volume production, promote customization, and reduce material waste. They support on-demand and localized manufacturing, shortening supply chains, and can serve as educational tools.

Printer Outlook

The printer segment is further bifurcated into industrial and desktop. The desktop segment garnered a remarkable growth rate in the revenue share in the 3D printing market in 2022. Desktop 3D printers are typically more budget-friendly than industrial-grade counterparts, making them accessible to individuals, hobbyists, small businesses, and educational institutions with limited budgets. Many desktop 3D printers are designed to be user-friendly and require minimal setup. They often come with intuitive software interfaces that simplify the 3D printing process, making it accessible to beginners.

Technology Outlook

By technology, the 3D printing market is segmented into stereolithography, selective laser sintering, electron beam melting, fused deposition modeling, laminated object manufacturing, and others. The stereolithography segment garnered the maximum revenue share in the 3D printing market in 2022. Stereolithography (SLA) is known for its exceptional precision and surface finish. It excels at producing highly detailed and intricate parts, making it ideal for jewelry, dentistry, and medical field applications. SLA's ability to create complex geometries with minimal support structures reduces post-processing efforts, saving time and resources.

3D Printing Market Share and Industry Analysis Report 2022

Application Outlook

Based on application, the 3D printing market is classified into education/research, visual aids, presentation modeling, fit & assembly, prototype tooling, metal casting, functional parts, and others. The fit and assembly segment witnessed a remarkable growth rate in the 3D printing market in 2022. 3D printing's precision in creating parts with exact fit and assembly capabilities is invaluable. It enables the production of seamlessly integrated components, reducing the need for post-processing adjustments. This leads to enhanced product quality, streamlined manufacturing, and reduced assembly time. The technology also supports just-in-time production, eliminating excess inventory and reducing storage costs.

Vertical Outlook

On the basis of vertical, the 3D printing market is fragmented into education, industrial, automotive, aerospace & defense, healthcare, consumer goods, construction, and others. The aerospace and defense segment recorded a considerable growth rate in the 3D printing market in 2022. 3D printing has become a game-changer in the aerospace and defense sectors by significantly reducing the weight of aircraft and spacecraft components, enhancing fuel efficiency, and lowering production costs. The technology allows for the rapid prototyping and production of complex, lightweight, and high-strength parts, which translates to improved performance, reduced maintenance needs, and faster innovation cycles.

Software Outlook

On the basis of software, the 3D printing market is divided into design software, inspection software, printer software, and scanning software. The design software segment recorded the largest revenue share in the 3D printing market in 2022. 3D design software offers a plethora of benefits. It empowers designers and engineers to create intricate 3D models with precision and ease, facilitating rapid prototyping and product development. They often include design validation and analysis features, helping identify and address potential issues early in the design process.

3D Printing Market Report Coverage
Report Attribute Details
Market size value in 2022 USD 18.6 Billion
Market size forecast in 2030 USD 86.4 Billion
Base Year 2022
Historical Period 2019 to 2021
Forecast Period 2023 to 2030
Revenue Growth Rate CAGR of 21.4% from 2023 to 2030
Number of Pages 551
Number of Table 934
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling
Segments covered Component, Technology, Application, Vertical, Region
Country scope US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers
  • Rising regulatory support by national and local government bodies
  • Expansion of the global manufacturing sector
  • High initial costs and limited material selection

Regional Outlook

Region-wise, the 3D printing market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region procured the maximum revenue share in the 3D printing market in 2022. North American manufacturers increasingly use 3D printing for low-volume and small-batch production runs. The COVID-19 pandemic underscored the importance of supply chain resilience. 3D printing supports localized and on-demand manufacturing, reducing reliance on global supply chains and ensuring a more resilient production process. North America's healthcare industry has embraced 3D printing for applications like patient-specific implants, surgical guides, and medical devices. These applications improve patient outcomes, reduce surgery times, and enhance medical treatment.

Free Valuable Insights: Global 3D Printing Market size to reach USD 86.4 Billion by 2030

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hoganas AB, 3D Systems Corporation, Materialise NV, General Electric Company, Stratasys Ltd., Autodesk, Inc., The ExOne company (Desktop Metal, Inc.), Organovo Holdings, Inc., voxeljet AG and Canon, Inc.

Strategies deployed in the Market

» Partnerships, Collaborations, and Agreements:

  • May-2023: Materialise NV teamed up with Vuzix Corporation, an optical technology company that specializes in making AR solutions. With this collaboration, the company aims to help industrial smart eyewear advance technologically and accelerate consumer and business market adoption of smart eyewear.
  • Mar-2022: Stratasys formed a partnership with Oqton and Riven with the continued expansion of the GrabCAD Software Partner Program. This Program is part of the latest unveiled GrabCAD Additive Manufacturing Platform, which would unify GrabCAD applications & third-party GrabCAD Software Partners through the GrabCAD Software Development Kit (SDK).
  • Mar-2022: Organovo Holdings, Inc. signed an agreement with BICO, a leading provider of life science solutions and laboratory automation. Following this agreement, both companies aimed to widen their product portfolio, and further strengthen it to continue to advance in the 3D bioprinting space.
  • Feb-2022: 3D Systems Corporations entered into a partnership with Saremco Dental AG. The company aimed to improve its digital dentistry material portfolio. Under this partnership, the companies would expand the distribution of the Swiss manufacturer’s CROWNTEC combined resins in the U.S. for 3D printing of biocompatible permanent restorations like onlays, crowns, veneers, inlays, & artificial teeth for dentures within dental clinics & labs.
  • Nov-2021: Stratasys entered into a partnership with ECCO, a Danish shoe manufacturer and retailer. This partnership aimed to innovate footwear manufacturing using 3D printing technology, which would boost automation and a more simplified development process.
  • Sep-2021: General Electric Renewable Energy formed a partnership with Fraunhofer and Voxeljet. The companies aimed to create the world's largest 3D printer for offshore wind applications. Under this partnership, the companies would develop a large-format 3D printer capable of producing sand molds to cast metal parts for use in an offshore wind turbine nacelle.
  • Feb-2021: ExOne came into a partnership with ABC Corporation. This partnership aimed to authorize ABC Corporation as a channel partner to sell ExOne industrial solutions in South Korea.

» Product Launches and Product Expansions:

  • Jun-2023: Voxeljet AG unveiled Cold IOB, a new inorganic 3D process technology. This launch would be an important step towards further adoption of printed cores and molds with inorganic binders in the foundry industry.
  • Oct-2022: General Electric Company released the Series 3 binder jet platform. The Series 3 has the capability of depositing a proprietary binder into parts with a maximum weight of 25 kilos and 500µm wall thickness. Series 3 is based on the Beta versions of H1 Alpha and H2 models and facilitates continuous production of parts that are of better quality than their casting equivalents.
  • Jun-2022: Stratasys unveiled Stratasys RadioMatrix, the latest material for its Digital Anatomy 3D printers. This material makes it possible to produce ‘radio-realistic models’ that could be under CT scans & X-rays. In addition, the material is the first radiopaque material available for polymer 3D printing leading providers to largely adopt Digital Anatomy systems, which would enable consumers to create full color & biomechanically realistic models for training, pre-surgical planning & medical device development.
  • May-2022: Stratasys launched F190 CR and F370 CR machines, F123 Series of FDM 3D printers, and FDM Nylon-CF10 material, new carbon fiber-reinforced. The latest composite 3D printers are developed for manufacturers & industrial machinists to produce end-use components, and jigs, fixtures & work holding tools.
  • Nov-2021: General Electric Additive unveiled a cloud-based process management software platform at Formnext. The main advantage of the Print Model module comprises automation of manual tasks, like support generation, nesting & slicing to process an ability to carry out design work while process-intensive tasks run in the background.
  • Oct-2021: Autodesk unveiled the latest version of its Netfabb 3D printing, design, and simulation platform. This platform is developed to offer customers a more refined experience and update its tool pathing and simulation tools.
  • May-2021: Stratasys introduced three new 3D printers. These printers together would address a huge portion of the multi-billion-dollar market growth prospect in additive manufacturing of end-use parts. These systems would enhance the shift from conventional to additive manufacturing for low-to-mid-volume production applications underserved by conventional manufacturing ways.
  • Mar-2021: Stratasys launched the J5 DentaJet 3D printer. The J5 DentaJet is the only multi-material dental 3D printer, that allows technicians to load mixed trays of dental parts. The new 3D printer can give at least five times more dental parts on a single mixed tray than competitive 3D printers, yet its compact footprint takes only 4.6 sq. ft (.43m2) of floor space.
  • Feb-2021: 3D Systems unveiled a novel High-Speed Fusion industrial 3D printer platform & material portfolio. Under this collaboration with Jabil, this dynamic High-Speed Fusion family of products, comprising the Roadrunner 3D printer, is likely to deliver the best economics of any high throughput industrial fused filament offering in the present market.

» Acquisitions and Mergers:

  • Sep-2022: Materialise acquired Identify3D, a company that develops software to encrypt, distribute, and trace the flow of digital parts across complex supply chains. With this acquisition, the company would enable the manufacturers to secure the flow of digital parts and maintain a competitive advantage.
  • Feb-2022: 3D Systems took over Titan Additive, a polymer extrusion 3D printing company. This acquisition aimed at expanding the company's reach in the medical & industrial market, which would enable the company to address its consumers' needs for large build volumes, superior performance & enhanced productivity at a lesser cost.
  • Feb-2022: 3D Systems signed an agreement to acquire Kumovis, an additive manufacturing solutions provider for personalized healthcare applications. In this acquisition, 3D Systems aimed to add a unique extrusion technology to its extensive polymer printing healthcare portfolio, enabling the company to expand its addressable market for customized healthcare applications.
  • Nov-2021: Materialize signed an agreement to acquire Link3D, an additive workflow & digital manufacturing software company. By combining Link3D’s additive MES (Manufacturing Execution System) solution with the Materialise Magics software suite into a unified, cloud-based software platform, various manufacturers would be able to run and constantly enhance the most efficient, repeatable, automated, and controlled processes to mass-produce identical or personalized products.
  • Oct-2021: 3D Systems took over Volumetric Biotechnologies, a Houston-based biotech company. Under this acquisition, 3D Systems would establish a top-class research capability in Houston, Texas that would be determined to lead in technologies associated with life sciences.
  • Apr-2021: The ExOne Company took over Freshmade 3D, an Ohio-based startup. This acquisition aimed to strengthen ExOne’s position as a provider of large-format 3D printed tooling for various industrial applications.

» Geographical Expansions:

  • Sep-2022: Autodesk expanded its geographical footprint by opening its UK Technology Centre in Birmingham. This center would assist people in solving the world's most innovative high-value manufacturing challenges. This center would house a variety of tools from subtractive to additive manufacturing (AM) and robotics and would benefit customers such as BMW and GKN Aerospace
  • Apr-2022: General Electric Company announced the establishment of a new research and development facility in Bergen, New York, United States. The new facility would be used for researching 3D printing of wind turbine's concrete base.
  • Feb-2021: 3D Systems expanded its geographical footprints in South Carolina headquarters through the addition of 100,000 square feet in space. The expansion is established as a vehicle that would bring to market his Stereolithography 3D printing technology.

Scope of the Study

Market Segments Covered in the Report:

By Component

  • Product
    • Printer
      • Industrial
      • Desktop
    • Material
      • Polymer
      • Metal & Alloys
      • Ceramic
      • Others
    • Software
      • Design Software
      • Inspection Software
      • Printer Software
      • Scanning Software
    • Services

By Technology

  • Stereolithography
  • Fused Deposition Modeling
  • Selective Laser Sintering
  • Laminated object Manufacturing
  • Electron Beam Melting
  • Others

By Application

  • Functional Parts
  • Fit & Assembly
  • Prototype Tooling
  • Metal Casting
  • Visual Aids
  • Presentation Modeling
  • Education/Research
  • Others

By Vertical

  • Consumer Goods
  • Construction
  • Education
  • Industrial
  • Healthcare
  • Aerospace & Defense
  • Automotive
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Hoganas AB
  • 3D Systems Corporation
  • Materialise NV
  • General Electric Company
  • Stratasys Ltd.
  • Autodesk, Inc.
  • The ExOne company (Desktop Metal, Inc.)
  • Organovo Holdings, Inc.
  • voxeljet AG
  • Canon, Inc.
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