Global 3D Printing Market Size, Share, Growth Analysis, By Component(Hardware, Software), By Printer Type(Desktop 3D Printer, Industrial 3D Printer), By Technology(Stereolithography, Fuse Deposition Modeling), By Software(Design Software, Inspection Software), By Application(Prototyping, Tooling), By Material(Polymer, Metal), By Vertical(Automotive, Aerospace & Defence) - Industry Forecast 2022-2028

Global 3D Printing market segmentation by component, printer type, software, technology, application, material, vertical and region. By component, the 3D Printing Market is segmented into hardware, software, and services. Based on printer type, the 3D Printing Market is segmented into desktop 3D Printer and Industrial 3D Printer. Based on software, the 3D Printing market is segmented into Design Software, Inspection Software, Printer Software, and Scanning Software. Based on technology, the 3D Printing market is segmented into Stereolithography, Fuse Deposition Modeling, Selective Laser Sintering, Direct Metal Laser Sintering, Polyjet Printing, Inkjet Printing, and Others. Based on software, the 3D Printing market is segmented into Design Software, Inspection Software, Printer Software, and Scanning Software. Based on application, the 3D Printing market is segmented into Prototyping, Tooling, Functional Parts. Based on material, the 3D Printing market is segmented into polymer, metal, ceramic. Based on vertical, the 3D Printing market is segmented into Automotive, Aerospace & Defence, Healthcare, Consumer Electronics, Industrial, and Others. Based on region, 3D Printing market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

It is anticipated that the industrial printer's category will maintain its dominance during the projection period

The industrial printer segment, which dominated the 3D Printing market, accounted for more than 70% of global revenue in 2021. The widespread use of industrial printers in heavy industries such as automotive, electronics, aerospace and defense, and healthcare can be attributed to industrial 3D printers' considerable market share. Some of the most popular industrial applications across these industry verticals include prototyping, designing, and tooling.

The extensive use of 3D printing for tooling, design, and prototype contributes to the expanding demand in the industrial sector. As a result, the industrial printer category is expected to maintain its dominance during the forecast period. Initially, desktop 3-dimensional printers were exclusively utilized by hobbyists and small businesses. However, they are increasingly being used for domestic and home purposes these days. Desktop printers are also utilized for technical training and research in the education sector, which includes universities, educational institutions, and schools.

The metal segment is likely to maintain its dominance throughout the forecast period

In 2021, the metal segment dominated the 3D printing market, accounting for more than 50% of global revenue. Additionally, the metal segment is likely to maintain its dominance throughout the forecast period. The industry has been further divided into three groups based on material: polymer, metal, and ceramic. The second-largest revenue share in 2021 was contributed by the polymer segment. The ceramic material market is anticipated to expand significantly during the coming years. Given that ceramic additive manufacturing is still relatively new, the growing R&D for 3D printing technologies like FDM and inkjet printing has resulted in a rise in demand for ceramic AM.

Hardware segment dominated the 3D Printing market

In 2021, the hardware segment dominated the market accounting for more than 60% of total 3D printing market revenue. The demand for sophisticated production techniques and rapid prototyping has greatly benefited the hardware industry. The expansion of the hardware market is mostly credited to a number of factors, including rapid industrialisation, rising consumer electronics penetration, improving civil infrastructure, quick urbanisation, and reduced labour costs. During the forecast period, the software is expected to grow at a rapid pace. 3D printing software is widely used in a variety of industry verticals to design the items and parts that will be printed. The use of 3D software to print prototypes of various manufacturing parts has increased as industries shift from conventional manufacturing techniques.

In 2021, North America dominated the market and generated more than 30% of global 3D printing market revenue. This is a result of additive manufacturing being widely used in the region. The US and Canada were among the leading and early users of these technologies in a variety of manufacturing processes. Europe is home to a number of industry participants in additive manufacturing that have extensive technical knowledge of the procedures. Hence, in 2021, the European 3D Printing market grew to become the second-largest regional market.

The region of Asia-Pacific is anticipated to grow at the greatest CAGR over the forecast period. Due to improvements made in the region's manufacturing sector, additive manufacturing (AM) has been adopted rapidly in Asia-Pacific. Also, the Asia-Pacific region is developing as a manufacturing powerhouse for the healthcare and automotive sectors. Other factors driving the region's rising three-dimensional printing demand include rapid urbanisation and a stronghold on consumer electronics manufacturing.

3D Printing Market Driver

• Significant government and technology investments to promote 3D Printing market growth

Massive digital disruptions in advanced manufacturing technologies are occurring in several nations throughout the world. Potential users of 3D technology include the United States. Even industry leaders in computer software like Autodesk, Microsoft, and HP have introduced technologies for additive and 3D printing manufacturing. Similar to this, China is working very hard to keep the manufacturing sector competitive in the international 3D Printing market. Chinese firms tend to invest in the research and development of this technology because they perceive it as both a risk and an opportunity for the Chinese industrial economy. India, on the other hand, is eagerly anticipating this technology as a chance to boost its position as a global manufacturing competitor. India's 3D Printing market is supported by active government programmes like the 'Make in India' Initiative. Korea has developed a unique roadmap for this technology's research and development and offers national support to carry it out. The Korean government is speeding industry regulatory agreements and giving financial incentives. Germany has a well-established Industry 4.0 infrastructure; thus, it is expected to design new plans for the technology.

• Ease in the development of customised products

Due to the availability of materials and developments in 3D printing technology, print-on-demand components are increasingly being used to produce specialised functional parts. Utilizing 3D printing, things may be made specifically to the demands and specifications of the customer. The businesses offer specialised services, such as fundamental design development by designers, followed by allowing the clients to co-create the product. The simple production of customised goods is enabled by ongoing technological advancements in available 3D printing technologies, declining printer costs, and the availability of a variety of materials.

3D Printing Market Restraint

• High initial investments to restrict 3D Printing market growth

The largest barrier to this technology's adoption is reportedly its high initial investment. This investment includes technology, software, supplies, certification, education in additive manufacturing, and employee training. A 3-dimensional system requires more resources and capital outlay than conventional printing techniques. However, the makers are assisting the final consumers in reducing the high starting prices with the development of the industrial desktop 3D printer. Desktop printers are less expensive than 3-dimensional printers and are also simpler to operate and manage.

The 3D printing market is highly fragmented due to the presence of various small & medium-sized 3D printing manufacturers as well as other established major giants and emerging start-ups. Some well-established players 3D Systems and Stratasys, Ltd. holds a market share of more than 10% in the global 3D printing market.

3D Printing Market Top Players Company Profiles

• 3D Systems Corporation (US)
• The ExOne Company (Germany)
• voxeljet AG (Germany)
• Materialise NV (Belgium)
• Made in Space, Inc. (US)
• Envisiontec, Inc. (Germany)
• Stratasys Ltd. (US)
• HP, Inc. (US)
• General Electric Company (GE Additive) (US)
• Autodesk Inc. (US)

3D Printing Market Recent Developments

• In March 2022, The Department of Science and Innovation (DSI) of South Africa started a pilot project to use 3D printing technology to construct about 25 homes in an effort to address the housing shortage there.
• In March 2022, The INDUSTRY F421 industrial FFF machine was introduced by 3DGence, a European company, and is suitable for high performance materials. The company has also released AS9100, a brand-new high-temperature filament that is approved for use in the aerospace and defense industries and produced using polyether ether ketone (PEEK).
• In February 2022, Imaginarium partnered with Ultimaker to introduce desktop & industrial 3D printer range in the India 3D Printing market. In India, where additive manufacturing is anticipated to make significant strides in the following years, this alliance will aid Ultimaker in growing its operations there.
• In May 2021, GE Additive partnered with Protolabs and fashion designer Zac Posen to construct four gowns and a headdress for showing at the Met Gala. Electron-beam melting (EBM), Multi Jet Fusion (MJF), and stereolithography (SLA) technology were used across the items to fulfil the design requirements of wearable clothes.

• Selective laser sintering (SLS) is the most preferred technology used in 3D printing. It is predicted to register the highest CAGR during the forecast period due to its numerous advantages over other technologies. As an alternative to the photosensitive resin used in stereolithography, SLS uses 12 powder nylon as raw material. Companies and research groups throughout the world have been recognized as using this material and technology to address issues such as the brittle quality of the resin when exposed to sunlight. Furthermore, SLS has been shown to be cost and material-friendly, as it does not require any dedicated support structure after printing. Furthermore, SLS has improved durability and may produce working parts or prototypes.

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, with the growing adoption of technology and the upcoming patent expirations, 3D printers are anticipated to become increasingly widespread. Businesses have already begun posting their product files on websites for clients to choose from, after which the things are shipped to the customers. Customers could anticipate more customisation of the things they buy as a result of this increased usage. As consumer usage rises, 3D piracy in which buyers make the products themselves rather than purchasing them from suppliers may also rise.