Dublin, May 15, 2023 (GLOBE NEWSWIRE) -- The "Global 3D Printing Market Size, Share & Industry Growth Analysis Report by Offering (Printer, Material, Software, Service), Process, Application, Vertical, Technology and Region - Growth Drivers and Industry Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The 3D printing market is projected to reach from USD 15 billion in 2023 to USD 34.5 billion by 2028, at a CAGR of 18.1%
Some key factors attributing to the growth of 3D printers involve ease in developing customized products, reduction in manufacturing cost and process downtime, government investments in 3D printing projects, and development of new industrial-grade 3D printing materials.
The recession's impact on the 3D printing market has been analyzed in this study. The short-term outlook for semiconductors and materials revenues is expected to be worse in the third quarter of 2023.
Rising inflation, increasing interest rates, unemployment, and energy crises will lead to slow economic activity. As a result, end-user industries experience deterioration of their businesses, cash flow, and ability to obtain financing, delaying or canceling product purchase plans.
Industrial printer market to hold a significant share of the 3D printer market during the forecast period
Industrial printers are used for professional and production purposes in the aerospace & defense, automotive, healthcare, consumer products, energy, jewellery, and engineering industries.
Industrial printers are used to generate concept models, precision and functional prototypes, master patterns and molds for tooling, visual and functional prototypes, and real end-use parts. These printers use powders to develop molds and parts with superior accuracy up to 28 m layer thickness. High-performance materials, resins, metals, and alloys are mixed to develop extremely resistant, flexible, and strong parts.
FDM technology to hold the largest share of 3D printing market during the forecast period
FDM technology can produce prototypes and functional parts faster and at a low cost from various thermoplastic materials. The lead times of FDM are short (as fast as next-day delivery) due to the high availability of the technology.
A wide range of thermoplastic materials is available for prototyping and non-commercial functional applications. These materials are used to manufacture high-precision plastic components. FDM is a clean, simple-to-use, and office-friendly 3D printing technology.
It supports production-grade thermoplastics, which are mechanically and environmentally stable, and the technology is used to develop complex geometries and cavities. Stratasys (US), Ultimaker (Netherlands), and Afinia 3D (US) are some of the leading companies providing FDM-based 3D printing systems and services.
Consumer products vertical for 3D printing market is expected to grow at the second highest CAGR during the forecast period
The 3D printing market for consumer products has been growing with the rise in the adoption of desktop or personal printers. The introduction of low-cost desktop 3D printers, costing below USD 1,000, has driven the adoption of 3D printers.
Many start-up companies have entered the 3D printing industry with their services, such as designing, prototyping, or manufacturing customized functional products. Even the e-commerce giants such as Amazon (US), Staples (US), and the UPS Store (US) have entered the 3D printing market by providing customized consumer products as well as selling various branded desktop 3D printers.
Europe to hold a significant share of the 3D printing market during the forecast period
Europe is projected to hold a significantly large share for 3D printing market during the forecast period. Germany and the UK are the major countries contributing to the 3D printing market in Europe. The technique is widely used in the consumer, aerospace, automobile, and healthcare industries.
Technological advancements, increased availability of various raw materials, regulatory policies, government support, low financial requirements, and the ability to facilitate fast and accurate product development are the major factors driving the 3D printing market in Europe.
The European Space Agency (ESA) recently developed an X-Ray telescope using plasma metal deposition 3D printing. The ESA space telescope is designed to search for black holes and hot map structures to determine their physical properties. The demonstrator parts of this telescope will be designed and 3D printed by RHP Technology, an Austrian company.
Competitive landscape
The report profiles key players in the 3D printing market with their respective market ranking analysis. Prominent players profiled in this report are Intuitive Surgical (US), DJI (China), Daifuku (Japan), iRobot (US), Samsung Electronics (South Korea), JD.com Inc. (China), DeLaval (Sweden), Kongsberg Maritime (Norway), and Northrop Grumman (US) among others.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 290 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $15 Billion |
| Forecasted Market Value (USD) by 2028 | $34.5 Billion |
| Compound Annual Growth Rate | 18.1% |
| Regions Covered | Global |
Premium Insights
- Growing Demand from Automotive, Consumer Products, and Industrial Verticals to Create Opportunities for Players in 3D Printing Market
- Industrial Segment to Dominate Market for 3D Printers from 2023 to 2028
- Powder Bed Fusion Segment to Lead 3D Printing Market Throughout Forecast Period
- Printers Segment and US to Account for Largest Share of 3D Printing Market, in Terms of Value, in 2023
- 3D Printing Market in Asia-Pacific to Grow at Highest CAGR During Forecast Period
Company Profiles
Key Companies
- Stratasys
- 3D Systems
- Materialise
- EOS
- General Electric
- Desktop Metal
- Voxeljet
- HP
- SLM Solutions
- Renishaw
Other Players
- Protolabs
- Cleangreen3D
- Optomec
- Groupe Gorge
- Ultimaker
- Beijing Tiertime
- XYZprinting
- Hoganas
- Covestro
- Nexa3D
- Trumpf
- Formlabs
- Markforged
- Carbon
- Nano Dimension
Market Dynamics
Drivers
- Ease in Development of Customized Products
- Reduction in Manufacturing Cost and Process Downtime
- Global Government Investment in 3D Printing Projects
- Availability of Wide Variety of Industrial-Grade 3D Printing Materials
Restraints
- Lack of Standardized Testing Methods to Verify Mechanical Properties of 3D Printing Materials and High Cost of Raw Materials
- Inadequate Design and Process Control Data due to Lack of Printing Material Specifications
Opportunities
- Increasing Demand for Medical Products and Supplies in Post-Pandemic Scenario
- Rapid Advancements in Printing Technologies and Materials and Development of Knowledge and Skills Progression Framework
- Emerging Applications of 3D Printing Technology in Automotive, Printed Electronics, Jewelry, and Education Fields
Challenges
- Ensuring Consistent Quality of Final 3D Product with Repeatable and Stable Production Processes
- Threat of Copyright Infringement
- Decline in Sales of 3D Printing Devices due to Recession Impact
Case Studies
- Ashley Furniture Manufactured Replacement and Spare Parts Using 3D Printing Technology to Reduce Overall Cost
- Flashforge Developed 3D Printing Solutions to Upgrade Channel Letter Production Technology at Reduced Cost
- 3D Printed Technology Was Adopted by Adidas to Manufacture Standard Midsoles and by BOA to Produce Fasteners for Sneakers
- DLR Incorporated Additive Manufacturing to Optimize Fluid Dynamics
- ACS Used 3D Printers to Print Custom Ear Products, Hearing Aids, and Earphones in Bulk
- Porsche Adopted Additive Manufacturing Technique to Produce EV Parts
- Decathlon and Cobra Golf Used 3D Printing Technology to Design Sports Equipment
- Nexa3D and Form Labs Developed Nasopharyngeal (NP) Swabs and Face Shields Using 3D Printing Technique to Cope with COVID-19
- Waveoptics and Luxecel Created 3D-Printed Module to Design and Manufacture Lenses and Eyeglasses
- BMW Incorporated 3D Printers to Produce Polymer Parts Using Multi-Jet Fusion and Selective Laser Sintering Techniques
Pricing Analysis
- Value Chain Analysis
Ecosystem Mapping
- Material Suppliers
- Polymer Providers
- Metal Providers
- Software Providers
- Printer Providers
- Industrial 3D Printer Providers
- Desktop 3D Printer Providers
Technology Analysis
- Key Emerging Technologies
- Hybrid Manufacturing
- Adjacent Technologies
- CNC Machining
Technology Trends
- Shift Toward Service Providers for Functional Parts
- Entry of Printing Giants into 3D Printing Market
- Consolidation of 3D Printing Market with Entry of Large Industrial Enterprises
For more information about this report visit https://www.researchandmarkets.com/r/5m6xjf
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