The global 3D printing market size is expected to reach around USD 41 Bn by 2026 and will grow at a CAGR of around 20.1% over the forecast period 2019 to 2026.
3D printing refers to the process of making a three-dimensional solid object from a digital file or computer-aided design (CAD) model. It is also called desktop fabrication, additive printing or additive manufacturing because the creation takes place by laying down many thin layers of material until the object is created. The various process are carried out for the development of object, which includes Powder Bed Fusion, Material Extrusion, Vat Photopolymerization, Material Jetting, Binder Jetting, Directed Energy Deposition, and Sheet Lamination. Desktop and industrial 3D printers are used for printing. Furthermore, in the healthcare sector, 3D printing is used in the form of bioprinting, where bioprinters use a computer-guided pipette to layer living cells which referred to as the bio-ink. It is used to create artificial living tissues in medical laboratories. In automotive, 3D printing is used for the manufacturing of plastic parts which are cheaper and have short production time for in-house, especially for complex bodies. 3D printing in aerospace is majorly used by engineers for making rapid prototyping, tooling and easier and cost-efficient part manufacturing.
The benefits associated with the 3D printing for the manufacturers such as prototyping, product development, innovation, and time-to-market is primarily driving the market growth. The ongoing commercialization of the technology to expand the market share and also to offer advanced products in the market is accelerating the market growth. Increasing government investments & ongoing R&D in the 3D printing technology across the globe is further propelling the market value. The ease in the development of customized products with less manufacturing cost and process downtime is also boosting the market value.
However, capital intensive technologies and high material prices are the concern associated with 3D printing, which is expected to hamper the growth over the forecast period. In addition, the unavailability of standard process controls in the market is further likely to hinder the growth during the forecast period. Whereas, untapped industry verticals, such as printed electronics and 3D printing underwater is likely to create potential opportunities over the forecast period.
On the basis of technology, the Fused Deposition Modelling (FDM) segment accounted for the highest share in the year 2018. The segment is having the largest share due to its affordability to build durable and stable parts in industries including automotive, consumer goods, and aerospace among others. The advancement in technology has resulted in the development of low-cost FDM solutions, which is an important factor fueling market growth.
On the basis of offering, the service segment accounted for the largest share in the year 2018. The segment is having the maximum share owing to the increasing demand for custom design and manufacturing. The early adopters of technology in industry verticals such as healthcare, aerospace and automotive are further favoring the growth of the segment.
The market research study on “3D Printing Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight on the global 3D printing market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global 3D printing market, its technology, offering, end-user, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global 3D Printing market size and volume, and segment markets by technology, offering, end-user and geography along with the information on companies operating in the market. The 3D Printing market analysis is provided for major regional markets including North America, Europe, China, Southeast Asia, Japan, and India followed by major countries. For each region, the market size and volume for different segments have been covered under the scope of the report.
On the basis of region, the global 3D printing market is studied across the region of North America, Europe, Latin America, Asia Pacific and the Middle East and Africa. From the aforementioned segment, North America accounted for the largest market share due to a series of new product launches, mergers, and acquisitions. Additionally, the continuous evolution of new technologies in various applications across the sectors including automotive, healthcare, consumer electronics, and aerospace & defense among others is further favoring the regional market growth. Apart from these, Asia Pacific is expected to experience significant growth over the forecast period. The market is gaining pace owing to rising government initiatives, funding in research and development, and the presence of an extensive industrial base.
The players profiled in the report 3D Systems, Arcam AB, Autodesk, Inc., Stratasys Ltd, The ExOne Company, Hoganas AB, Optomec, Inc., Organovo Holdings, Inc., Ponoko Limited, and Voxeljet AG. The major players are involved in mergers and acquisitions, partnerships and new product development for the expansion of market share over the forecast period.
Market By Technology
Market By Offering
Market By End User
Market By Geography
3D printing refers to the process of making a three-dimensional solid object from a digital file or computer-aided design (CAD) model.
3D printing in aerospace is majorly used by engineers for making rapid prototyping, tooling and easier and cost-efficient part manufacturing.
According to Acumen Research and Consulting, the global 3D printing market size is expected to reach around USD 41 Bn by 2026
The global 3D printing market is anticipated to grow at a CAGR of around 20.1% over the forecast period 2019 to 2026.
The benefits associated with the 3D printing for the manufacturers such as prototyping, product development, innovation, and time-to-market is primarily driving the market growth.