Market Insights - Industry Research Report

3D Printing Market

3D Printing Market by Component (Hardware, Software, Services), By Technology, By Application, By End-Users (Aerospace & Defense, Automotive, Healthcare, Architecture & Construction, Consumer Products, Education), Geography Analysis and Competitive Landscape: Premium Insights Industry Size, Share, Growth, Trends, Research, and Forecast From 2024 to 2032

According to the latest forecast, the 3D Printing Market is expected to grow significantly in the coming years. The 3D Printing market is currently valued at USD 20.18 billion in 2023 and is projected to reach USD 108.11 billion by 2032. This translates to a compound annual growth rate of 20.5% between 2024 and 2032.

3D Printing Market Overview

3D (three-dimensional) printing is also known as additive manufacturing. It is a process of making a tangible object with the help of a three-dimensional digital model. The 3D printing process includes hardware and software that deposits successive layers of material such as plastic resin, or steel into different shapes to create a 3D digital model. The increasing commercialization of emerging technologies and the decrease in process downtime and manufacturing costs are fueling the demand for 3D printers across the globe. In addition, the growing benefits of 3D printing among various end-use industries, coupled with the increasing investment in digitalization, and the growth of Industry 4.0 is further bolstering the market demand in the forthcoming years.

Key aspects of the 3D printing market
  • The 3D printing market has been experiencing significant growth, driven by advancements in technology, increased adoption across industries, and the development of new materials suitable for 3D printing.
  • 3D printing technology is being increasingly adopted across various industries, including healthcare, aerospace, automotive, consumer goods, and more. Each sector has unique applications for 3D printing, ranging from prototyping to end-use part production.
  • In the healthcare sector, 3D printing is used for creating customized implants, and prosthetics, and even for printing human tissues and organs. This has the potential to revolutionize personalized medicine and improve patient outcomes.
  • The aerospace and automotive industries have embraced 3D printing for rapid prototyping, manufacturing lightweight components, and producing complex geometries that would be challenging with traditional manufacturing methods.
  • Ongoing research and development in materials suitable for 3D printing have expanded the range of applications. New materials, such as advanced polymers, metals, ceramics, and composites, continue to emerge, enhancing the versatility of 3D printing.
  • Improvements in 3D printing software and hardware have contributed to enhanced precision, speed, and the ability to handle more complex designs. This has made 3D printing more accessible and efficient for businesses and individuals.
  • The 3D printing industry is increasingly focusing on sustainability. The ability to produce items on demand, reduce waste through additive manufacturing, and use eco-friendly materials align with global sustainability goals.
  • Despite the growth, challenges such as cost, speed of production, and the need for standardized processes still exist. Ongoing efforts are being made to address these challenges and further improve the overall efficiency of 3D printing technologies.

 

3D Printing Market

COVID-19 Impact Analysis on 3D Printing Market

The COVID-19 pandemic outbreak has shown a major effect on the global economy. Accordingly, the 3D printing market was also affected substantially during this widespread. The manufacturing sector was halted to some extent owing to the imposition of stringent social distancing norms and lockdown procedures. The overall lockdown influenced the production of 3D printing manufacturers because of the disruption in the supply chain and the unavailability of adequate resources. However, the healthcare sector has witnessed an exponential rise in demand for personal protective equipment including ear straps, shields, face masks, and so on. Also, demand for regulators and venture valves highly adopted to support patients to breathe has increased.

Moreover, the flourishing development of the e-commerce sector has also supported the growth of industries such as consumer electronics, retail, jewelry, food & culinary, and education, among others. 3D printing manufacturers have complete control over the raw materials used in production, as well as the conditions of storage and delivery, which allows buyers to print the product themselves according to their choice. Thereby, the gradual opening of the lockdown, as well as the expansion of some end-use industries has supported the market growth at a significant rate.

3D Printing Market Segmentation:

The global 3D Printing Market is segmented based on Component (Hardware, Software, Services), the basis of Technology (Stereolithography (SLA), Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Direct Metal Laser Sintering (DMLS), Polyjet/Multijet Printing (MJP), Electron Beam Melting (EBM), Digital Light Processing (DLP), Other Technologies), based on Application (Prototyping, Tooling, Functional Part Manufacturing, Other Therapeutic Applications), based on End Users (Aerospace & Defense, Automotive, Healthcare, Architecture & Construction, Consumer Products, Education, Other End Users)

The services segment is anticipated to grow with the highest CAGR over the forecast years

The market is categorized into hardware, software, and services based on components. Hardware is dominating the market with the highest market share owing to the increasing requirement for advanced manufacturing practices and rapid prototyping. In addition, the developing civil infrastructure, growing adoption of consumer electronic products, and increasing industrialization and urbanization are also contributing to the segment growth.

Whereas, the service segment will likely grow at the highest CAGR over the forecasting years. The segment growth is primarily driven by the flourishing development of industries such as healthcare, aerospace, and automotive. In comparison to the sales of printers and materials, the 3D printing service sector is growing significantly due to advancements in printing technology and materials, and numerous companies across industries are inclined to outsource design to manufacture customized products. Thus, the manufacturing of products with complex geometries is leveraging various growth opportunities for segment development in the coming years.

The stereolithography segment is expected to be the largest segment in terms of market shares in 2022

Based on Technology, the stereolithography segment is estimated to lead the market and account for the highest market share in 2022. Stereolithography technology is considered the most conventional printing technology that features ease of operation. Also, the growing investment in research and development activities and high adoption of stereolithography technology by the leading industry experts and researchers are further presenting opportunities for other effective and better technologies. On the other hand, Fused Deposition Modeling (FDM) is also significantly growing because of the high adoption of the technology in several 3DP processes to create strong, durable, and dimensionally stable parts.

3D Printing Market Dynamics:

Drivers:

The growing investment in technological developments by various government bodies and chief tech giants is driving market growth

The rapid shift toward technological developments in 3D printing technologies and the availability of materials is fuelling the adoption of print-on-demand parts to manufacture customized functional parts. The usage of 3D printing facilitates the creation of personalized products based on individual needs. Accordingly, various businesses offer specialized services, such as the initial design development by designers, and enable customers to co-design the products. In addition, the rising availability of different materials for easy manufacturing of custom-made products, as well as reducing costs of printers further present ample opportunities for 3D printing technology and encourage its development. For instance, in March 2021, Renishaw announced that the company collaborated with Domin, which aims to advance a high-performance servo valve. Under this agreement, Domin planned to boost its productivity and lessen cost per part by utilizing Renishaw’s RenAM 500Q, a four-laser AM system for serial production applications. Moreover, various countries implemented national programs for promoting global-level 3D printing research and the establishment of start-ups. Consequentially, the emergence of new applications for 3D printing is gaining huge prominence among governments and industrialists to explore other opportunities offered by 3D printing technology, which, in turn, accelerates market growth around the world.

Regional Analysis:

North American 3D Printing Market is expected to dominate the market with the highest market shares in 2022

North America accounts for the largest revenue and is expected to dominate the global market in 2022. Factors such as the growing investment in 3D printing start-ups, as well as the rising focus on technological advancements are the primary factors that are bolstering the expansion of the regional market. In addition, various government bodies are supporting the growth of developed countries such as the U.S. and Canada to advance manufacturing technologies. Also, the presence of engineering companies, service bureaus, and additive manufacturing companies is heavily investing in R&D activities across different verticals. Therefore, these key factors are estimated to lead the 3D printing market in terms of revenue shares across the region.

Recent Development
  • Partnerships and collaborations between 3D printing companies and traditional manufacturers.
  • Advances in metal 3D printing technologies for industrial applications.
  • Increased investment in research and development by key players in the 3D printing industry.

Key Market Players and Competitive Landscape

Some of the key market players operating in the global 3D printing market are:

  1. GE Additive (US)
  2. Nano Dimension (Israel)
  3. Markforged (US)
  4. EOS (Germany)
  5. Stratasys (US)
  6. HP (US)
  7. Materialise (Belgium)
  8. 3D Systems (US)
  9. Beijing Tiertime (China)
  10. Desktop Metal (US)
  11. ExOne (US)
  12. Optomec (US)

The Beyond Market Insights research has segmented the Global 3D Printing Market report based on Component, Technology, Application, End Users, and region

3D Printing Market, Component Outlook:
  1. Hardware
  2. Software
  3. Services
3D Printing Market, Technology Outlook
  1. Stereolithography (SLA)
  2. Fused Deposition Modeling (FDM)
  3. Selective Laser Sintering (SLS)
  4. Direct Metal Laser Sintering (DMLS)
  5. Polyjet/Multijet Printing (MJP)
  6. Electron Beam Melting (EBM)
  7. Digital Light Processing (DLP)
  8. Other Technologies
3D Printing Market, Application Outlook
  1. Prototyping
  2. Tooling
  3. Functional Part Manufacturing
3D Printing Market, End Users Outlook
  1. Aerospace & Defense
  2. Automotive
  3. Healthcare
  4. Architecture & Construction
  5. Consumer Products
  6. Education
  7. Other End Users
3D Printing Market, Regional Outlook
  1. North America
    • United States
    • Canada
  2. Europe
    • France
    • Germany
    • UK
    • Italy
    • Rest of Europe
  3. Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of the APAC
  4. Latin America
    • Mexico
    • Brazil
    • Rest of Latin America
  5. Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa
    • Rest of the Middle East & Africa

3D Printing Market Report Scope

Report AttributeDetails
Market size value in 2023USD 20.18 billion
Revenue Forecast in 2032USD 108.11 billion
Growth RateCAGR of 20.5% from 2024 to 2032
Base Year for estimate2023
Historical data2018 to 2023
Forecast years2024 to 2032
Quantitative unitsRevenue in USD billion and CAGR from 2023 to 2030
Report CoverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments CoveredComponent, Technology, Application, End Users, Region
Regional scopeNorth America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scopeU.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; Japan; China; India; South Korea; Singapore; Brazil
Key companies profiledGE Additive (US), Nano Dimension (Israel), Markforged (US), EOS (Germany), Materialise (Belgium), HP (US), Stratasys (US), 3D Systems (US), Beijing Tiertime (China), Desktop Metal (US), ExOne (US), Optomec (US)

Frequently Asked Questions

The global 3D printing market size was estimated at USD 20.18 billion in 2023 and is expected to reach USD 24.32 billion in 2024.
The global 3D printing market is expected to grow at a compound annual growth rate of 20.5% from 2024 to 2032 to reach USD 118.11 billion by 2032.
The vital companies run in the market are Stratasys (US), 3D Systems (US), EOS Gmbh (Germany), Materialise (Belgium), GE Additive (US), and HP (US).
The stereolithography segment led the global 3D printing market and accounted for more than an 8.8% share of the global revenue in 2022.

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