25 August 2021
As per the report published by UnivDatos Market Insights (UMI), the global 3D printing market is anticipated to reach the market valuation of US$ 25,420.8 Million by 2024 expanding at sky rocketing CAGR of 24.7% during the forecasted period (2018-2024). Products, materials, services paired with 3D printing technologies and applications are the significant 3D printing technology segments analyzed during the course of the study. The benefits of 3D printing technology can be witnessed among various industrial verticals wherein adoption of the additive technology has been the game changer for end-user industries such as manufacturing and healthcare among others. In 2017, product segment dominated the global 3D printing market. The segment is estimated to generate revenue of US$ 3,003.8 million by 2019. Alternatively, under technology segment, fused deposition modelling is projected to enjoy the rapid expansion throughout the reviewed period, owing to its user friendly characteristics and familiarity with consumers. Moreover, 3D printing applications as direct manufacturing technologies are further bringing wider disruption. Thus, disruption is constantly occurring as functional parts production is gaining prominence in the global 3D printing technology landscape. Additionally, rapidly expanding manufacturing sector is expected to present sufficient advancement of additive manufacturing.
Although 3D printing technology stands at the infancy stage and needs time to reach mass adoption, however, with the combination of several innovative technologies, the technique is expected to displays tremendous potential to radically transform and customize designs and production processes. Dramatic uptake in investments with respect to product and development in 3D solutions, regulatory support and growing manufacturing sector has considerably influenced the growth prospects of 3D printing technology globally. Moreover, as the technology has successfully transmitted to the phase of reaching at the top of the plateau of productivity, the healthcare sector is rapidly turning itself to 3D technique to design surgical guides, orthopedic device and medical implants. Furthermore, booming concept of dental 3D printing and launch of dental labs has completely revolutionized 3D printing technology in the healthcare sector, in turn displaying promising advancements in medical and dental fields.
Unique variations of 3D printing technology is bifurcated extensively into component, technologies, applications and end-user industries. Determined by component type, product market is bifurcated into industrial and personal 3D Printers. Industrial 3D printer segment has generated revenue of US$ 1,687.8 million in 2017. While polymer, plastics, metal and alloys and ceramics are the significant sub-segments of 3D printing material types available in the market. Polymers are anticipated to witness rapid adoption while ceramic material is predicted to witness highest CAGR growth of 26.9% throughout the forecast period. Moreover, custom design & manufacturing dominated the service segment of the 3D printing market in 2017. Additionally, based on technology type, 3D printing is segmented into fused deposition modelling, selective laser sintering, stereolithography, electron beam melting, and laminated object manufacturing technologies. In 2017, fused deposition modelling centered the market with optimum share. Among various 3D applications such as functional parts, fit and assembly, prototype modelling, education, metal casting, visual aids and presentation modelling, functional parts dominated the market with ~one third of the market in 2017. Furthermore, manufacturing sector dominated the end-user industry segments of the global 3D printing technology market, with a market size of US$ 1,052 million, followed by healthcare and aerospace & defense sector.
Additionally, for better investigation and penetration of 3D printing solutions the report bifurcates the global 3D printing technology market into distinct region and countries including North America (U.S., Canada, Mexico and rest of North America), Europe (Russia, Germany, France, U.K., Italy, Spain and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and rest of Asia-Pacific) , Latin America (Brazil, Argentina, Chile and Rest of Latin America) and Middle East and North Africa( UAE, Saudi Arabia, Kuwait,, Qatar, Algeria, Egypt and rest of Middle East and North Africa). In 2017, North America dominated the global 3D printing technology market with major share coming from the United States, owing to its mature stage in the manufacturing sector paired with first mover advantage in the technological advancement space. Moreover, Asia-Pacific and MENA regions are anticipated to register drastic advancement throughout the forecast period attributed to influx of numerous players and strong expertise on 3D printing technique coupled with favorable government policies and surging expenditure on 3D solutions.
Some of the major companies profiled in the global 3D Printing study include 3D Systems Corporation, Arcam AB, Royal DSM NV, Stratasys Ltd, Autodesk Inc., ExOne Company, Hoganas AB, Organovo Holdings Inc., Mcor Technologies Ltd and Voxeljet AG. These players consistently aim to focus on product development, new product launch and enhance their existing portfolios to expand their customer base and strengthen their market position through partnerships and collaborations which further offers them growth opportunities for geographic expansion.
Market Insight, by Component
Market Insight, by Technology
Market Insight, by Application
Market Insight, by Industry Vertical
By Geography
Companies Profiled
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