3D printing is an additive manufacturing technology utilized to produce components. The "additive" nature means it doesn't necessitate a solid block or mold to fabricate physical objects; instead, it builds and joins successive layers of materials. This method is generally rapid, involves minimal fixed setup expenses, and enables the creation of intricate shapes that may be challenging for conventional techniques. Moreover, the range of materials compatible with 3D printing continues to grow. In the engineering sector, it finds extensive use, especially for prototyping and crafting lightweight structures.

The increasing adoption of 3D printing technologies by various players across the globe for their various product manufacturing processes is driving the global market growth over the forecast period. For instance, according to a report by Formlabs, a 3D printing technology manufacturer and developer of 3D Printing Applications Report, globally, the adoption rate of 3D printing technology accounted for 40%. Technology is becoming more accessible to students, entrepreneurs, hobbyists, and massive factories worldwide.

The Global 3D Printing Market was valued at around US $15.67 BN in 2022 and is expected to reach US $35.45 BN by 2030 with a CAGR of 19.20% during the forecast period.

Factors Driving the Market

Drivers

Increasing adoption of 3D printing technology across healthcare, defense, and Automotive Industries

The 3d printing technology is getting increasingly popular across the various end-user industries worldwide, whereas healthcare, defense and automotive industry are the primary industries in which 3D printing is heavily used. In the healthcare sector, 3D printing has found diverse applications in various fields, including healthcare. It is widely utilized for designing innovative surgical cutting and drill guides, crafting customized prosthetics, and producing patient-specific replicas of bones, organs, and blood vessels.

3D printing is also used in defense to produce rocket shells, engines, and even an astronaut's uniform components. 3D printing in the Defence sector is used for the manufacturing of bullets, parts of pistols, guns, tanks, ships, bunkers, storage houses and other equipment. 3D printing is also used in aerospace rocket shells, rocket engines and even parts of Astronaut’s Uniform. The increasing government initiatives to boost the adoption of 3D printing technology across the defense sector are driving the global 3D printing market.

Increasing innovations in the automotive industry using 3D printing technology for creating lightweight vehicles are also driving market growth. For instance, in April 2023, Relativity Space, an American Aerospace manufacturing company, announced their plan to develop Terran R, a medium-to-heavy lift orbital launch vehicle created using 3D-printed aluminum, designed for reusability. Such innovations are expected to boost the global demand for 3D printing technology for different applications over the forecast period.

Other drivers include increasing government initiatives to support 3D printing technology across various sectors.

Challenges

The high initial cost of 3D printing technology

The high cost of 3D printing is attributed to the intricate process and the quality of materials utilized. Several factors contribute to this higher expense, including significant initial investments, advanced technology incorporation, the printing process's intricacy, and the expenses associated with post-processing tasks.

Several factors influence the high cost of 3D printing technology, such as high machine and tooling costs, the slow process leading to high energy consumption, raw material cost, post-processing cost and others. The highest cost contributing to the high cost of 3D printing is the machine and tooling required for additive manufacturing; according to the Study report by the National Institute of Standards and Technology (NIST), the initial and machine costs of additive manufacturing account for 45 to 74% of the total cost.

Additive manufacturing, or 3D printing, is a slow process that consumes more time and energy than conventional manufacturing.  The metal used for additive manufacturing or 3D printing costs up to eight times more per unit of weight than conventional materials. All these factors contribute to the higher price of 3D printing, a major challenge for the global 3D printing market.

Other challenges include regulatory compliance and public perceptions and acceptance.

Trends

Increasing sustainability in additive manufacturing

There is an increasing sustainability trend in additive manufacturing; various steps are adopted to achieve sustainability in 3D printing technology. 3D printing enables the creation of lightweight yet structurally efficient designs, particularly in industries like aerospace and automotive. Lighter components can reduce fuel consumption and emissions, contributing to sustainability efforts. The 3D printing industry continually explores and develops sustainable materials, including bio-based polymers, biodegradable resins, and recycled metal powders. Using eco-friendly materials in the printing process contributes to overall sustainability goals. For instance, in November 2022, Arkema, a global specialty materials manufacturing company, announced the launch of performance liquid materials for UV-curable 3D printing, this new technology is used for high-temperature material with excellent toughness and high HDT properties. Furthermore, in May 2022, Braskem, a global polyolefin manufacturing company, announced the launch of three new eco-friendly 3D printing filaments for the additive manufacturing industry. As per the company, the new 3D printing filaments are made up of bio-based ethylene vinyl acetate (EVA), recycled polyethylene and polypropylene (PE/PP) which is free from carbon fiber.

These innovations and adopting sustainability in additive manufacturing are the global 3D printing market trend.

Other trends include the Integration of software technology for 3D printing.

Market Segmentation

By Technology

Based on technology, the market is divided into stereolithography (SLA), fused deposition modeling (FDM), selective laser sintering, electron beam melting, digital light processing, and others. Stereolithography led the global 3D Printing market in 2022 and is expected to continue to lead the market during the forecast period. This segment contributed around XX% in 2022. Stereolithography (SLA) is a type of 3D printing technology that utilizes photopolymerization to create three-dimensional objects layer by layer. In SLA, a liquid resin is selectively exposed to ultraviolet (UV) light, causing it to solidify and form the desired shape. The build platform is lowered after each layer is completed, and the process continues until the entire object is fabricated.

Selective laser sintering will be the fastest-growing segment during the forecast period, with a CAGR of around XX%, owing to the technology's rapid prototyping and iteration ability. Selective laser sintering is fast and allows for rapid prototyping, enabling companies to quickly iterate designs, test concepts, and bring products to market more efficiently, thus contributing to the market share.

By End User Industry

Based on the end-user industry, the market is divided into automotive, aerospace and defense, healthcare, architecture and construction, consumer products, education, and others (food, energy, etc.). The automotive segment led the global 3D Printing market in 2022 and is expected to continue to lead the market during the forecast period. This segment contributed around XX% in 2022. 3D printing in automotive allows for the rapid creation of prototypes in a matter of hours, which allows automotive manufacturers to faster testing, iteration, and design changes of automobile components and assemblies. Furthermore, 3D printing is also used for manufacturing lightweight automotive parts manufacturing.

Healthcare will be the fastest-growing segment during the forecast period, with a CAGR of around XX%. 3D printing is used in healthcare for various applications, such as fabricating tissues and organoids, producing surgical tools, developing patient-specific surgical models, and crafting custom-made prosthetics. This increasing application of 3D printing in healthcare contributes to the market share.

By Regions

The market is divided by geography into North America, Europe, APAC, and others. North America led the dengue market in 2022 with a market share of around XX%. The high number of key players across the region and the increasing number of startups operating across the region is driving the market growth.

APAC will be the fastest-growing region during the forecast period, with a CAGR of around XX% due to the increasing prototyping and advanced manufacturing across medical and automotive industries. Also, increasing government initiatives across the region for the adoption of 3D printing is expected to drive market growth globally.

Competitive Landscape

Stratasys, Ltd. dominates the Market. The company was established in 1989. Stratasys manufactures automotive, aerospace, consumer products, and healthcare additives. The various technologies the company offers include FDM Technology, PolyJet Technology, Selective Absorption Fusion (SAF) Technology¸, P3 Technology, Stereolithography Technology, and 3DFashion Technology. The company also manufactures software for 3D printers, such as GrabCAD Software, Connectivity and Digital Anatomy Creator.

Takeda Pharmaceuticals is the second revenue generator in the market. 3D Systems Corp offers complete 3D printing and digital manufacturing solutions. They make 3D printers for plastic and metal materials, software, and digital design tools. They also provide on-demand manufacturing services. The company has two main parts: Healthcare Solutions and Industrial Solutions. Their highest revenue comes from the Industrial segment. The company has a global presence across various regions, including North America, Europe, Asia Pacific and the Middle East.

 Companies Developing 3D Printing

• Materialise – The company manufactures 3D printing technologies for industrial and healthcare sector. For the healthcare sector the company caters to healthcare professionals, medical device companies’ patients and academics.
• EOS GmbH – EOS GmbH is the leading technology provider for industrial 3D printing of metals and plastics. The manufacture and distribution of integrated solutions for additive manufacturing. The company has a presence in over 35 countries across the globe.
• Codagenix – GE Additive specializes in metal additive (MA) design and manufacturing. It includes additive machine brands Concept Laser and Arcam EBM. The company caters to aerospace, military and defense, industrial manufacturing and automotive sector.
• voxeljet AG– Voxeljet AG is a company that specializes in industrial 3D printing and manufacturing. Its product portfolio consists of 3d printers such as VX200, VX500, and VX100. The company supplies its products to the industries such as Foundries, Automotive industries, Aerospace, Pumps, Architecture, Film, and Museum etc.
• EnvisionTec, US LLC., – ETEC offers a variety of 3D printing systems that can mass produce polymer parts with the speed and quality needed for demanding end-use applications. ETEC printers deliver parts with exceptional accuracy, superior part properties, fine feature detail, and smooth surface finish at a scale and cost that is competitive with traditional manufacturing techniques like injection molding.
• KM Biologics – SLM Solutions Group AG is a publicly traded company headquartered in Lübeck, Germany. As an inventor of the selective laser melting process, our company focuses on developing and distributing the most innovative, production-oriented metal additive manufacturing systems. Our focus is to be a leader in product performance and innovation and for you, as our customer, to benefit from that approach.
• Canon, Inc., – Canon has developed a 3D printer material that reduces “shrinkage” during the firing process, and is providing them to leading industries such as the automotive, healthcare, industrial equipment and aviation industries, hence dramatically expanding the potential applications of ceramic parts.

Recent Developments

1. May 26, 2023: Stratasys Ltd. and Desktop Metal Inc. announced a partnership to develop additive manufacturing technology for mass production with a stock transaction of USD 1.8 billion.

4. April 5, 2023: Stratasys Ltd., a company involved in manufacturing polymer 3D printing solutions, announced the acquisition of the additive manufacturing materials business of Covestro AG. The acquisition will strengthen the company’s additive manufacturing business.
5. November 25, 2022: Wipro 3D, India’s leading provider of Additive Manufacturing Solutions, has launched the Wipro 3D F300-2, its flagship industrial grade 3D printer, operating on the Fused Filament Fabrication (FFF) technology. This is the first product in its line of indigenously developed printers to be announced in the coming future.
6. November 15, 2021: 3D Systems announced its plant to boost additive manufacturing (AM) innovation by introducing new products and collaborations. The plans include unveiling high-throughput 3D printing technologies, forming a strategic partnership with UK startup Additive Manufacturing Technologies (AMT) to introduce innovative 3D printing workflows, enhancing AM software, and introducing a new production-grade light-activated resin designed for automotive components.

3D Printing Market Scope