Market Overview:
3D Printing Technology Market Size Was Valued at USD 15.7 Billion in 2022, and is Projected to Reach USD 66.17Billion by 2030, Growing at a CAGR of 19.7% From 2023-2030.
A digital file and a variety of printing materials are used by manufacturers to create artifacts using 3D printing technology, also known as additive printing technology or desktop fabrication. One of the materials utilized in 3D printing technology is polymers. Other materials include metals and ceramics. It introduces approaches that can allow the generation of complicated concepts possible. A revolutionary and cutting-edge technology with the potential to revolutionize manufacturing and industry is 3D printing. It facilitates the construction, scanning, uploading, and 3D printing of digital replicas of actual objects as well as the transformation of digital documents into physical things.
Top Key Players Covered In The 3D Printing Technology Market:
- Stratasys (Israel)
- Arcam AB (Sweden)
- 3D Systems (US)
- Protolabs (US)
- Materialise (Belgium)
- ExOne GmbH (Germany)
- EOS GmbH (Germany)
- SLM Solutions (Germany)
- Concept Laser (Germany)
- Ultimaker (Netherlands), and other major players.
Market Dynamics and Factors:
Governments all around the world are launching programs and providing financing to educational institutions, research facilities, and research and technology organizations to further study the possibilities offered by 3D printing technology and promote its development. National programs have been put in place in the US, UK, and Canada to support university-level 3D printing research, promote technology, and foster the creation of start-ups. Industrialists and governments all around the world are becoming interested in 3D printing as new applications for technology emerge. For instance, the UK National Strategy for Additive Manufacturing 2018–2025 seeks to create 60,000 employment across sectors and EUR 3,500 million in gross value added (GVA) year by 2025. The strategy shows a comprehensive list of suggestions created by workgroups in charge of particular subjects.
The use of 3D printing in industrial manufacturing is on the rise, particularly in the aerospace, automotive, and defense sectors. Manufacturing of production parts, jigs and fixtures, injection molding, and tooling could all benefit from 3D printing. Although 3D printing technology is still in its infancy in several fields, including printed electronics, textiles, footwear, and food and gastronomy, it is already widely used in the fields of education, art and architecture, and jewelry. The market has seen improvements in printing materials, the creation of a skilled workforce, and the evolution of printers and printing technology. In addition to producing batteries, solar cells, light-emitting diodes, hearing aids, structural electronics, print sensors, cell phone antennae, and other active and passive devices, 3D printing identifies possible PCB elimination opportunities.
3D Printing Technology Market Report Highlight:
- By Application, the Prototyping segment is anticipated to lead the growth of the 3D Printing Technology market in the forecasted timeframe. Due to the increasing adoption of the prototype method across numerous industry sectors. Prototyping is used extensively in the automotive, aerospace, and defense industries to precisely design and build parts, components, and complex systems.
- By Technology, the selective laser sintering (SLS) segment is expected to have the highest share of the 3D Printing Technology market over the projected period. Among the various options, selective laser sintering (SLS) is the most favored technology. It is anticipated to advance at the highest rate over the predicted timeframe because of its many advantages over other technologies. To address problems like the resin's brittleness when exposed to sunlight, businesses and research organizations from all over the world have been established as possible consumers of this substance and technology.
- By Industry Vertical, the Healthcare segment is set to develop at the highest share during the forecasted timeframe. The healthcare sector's major priorities are to reduce costs, boost productivity, and put patients first. Human-sized bones, cartilage, and muscles may be printed using bioprinting research, and 3D printing technology has made it possible to take a more patient-centric approach to dentistry and prosthetics.
- The North American region is expected to have the highest share of the 3D Printing Technology market over the projected period. The U.S. and Canada are two examples of North American nations that were among the leading and early users of these technologies in a variety of manufacturing processes.
Key Industry Developments in the 3D Printing Technology Market:
In February 2023, Carbon3D Partners with adidas for High-Performance Footwear, Carbon3D, known for its rapid 3D printing technology, teamed up with Adidas to develop high-performance running shoes with customized midsoles. This collaboration showcased the potential of 3D printing for personalized sport equipment.
In February 2023, 3D Systems Acquires Additive Works for Metal 3D Printing Software, 3D Systems bolstered its metal 3D printing software portfolio by acquiring Additive Works. This move aimed to streamline workflows and improve part quality for metal printing users.
3D Printing Technology Market Segmentation:
By Application
- Tooling
- Prototyping
- Functional Part Manufacturing
By Technology
- FDM
- SLM
- SLS
- MJP
- Others
By Industry Vertical
- Automotive
- Healthcare
- Aerospace & Defense
- Consumer Electronics
- Power & Energy
For this report, Introspective Market Research has segmented the 3D Printing Technology Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
