3D Printing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2028

  • Report ID : 100072
  • Category : Technology and Communication
  • Pages : -----
  • Reporting status : Published Jan, 19
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3D printing is the process of designing and printing in three dimensional shape and maintaining structure, texture and rigidity of the material. It is the technique where, material is brought into digital designs identical to real world objects, which are tangible with the help of machines called 3D printers. 3D Printing (3DP), also known as additive manufacturing, was developed in the 1980’s as a process used to make 3 dimensional objects. Additive manufacturing (3DP) creates fragments from the ground up by fusing together layer by layers of material.

The complete 3D printing technology can be fragmented into 3 steps – (a) 3D Design (b) Slicing (c) 3D Printing. 3D digital model is the starting point for any 3D printing process in which the digital model is prepared by using various 3D design software or can also be created using 3D scanning. The 3D model is then sliced into split layers by this means converting the design into an information file readable by 3D printer. 3D printer then print this source file layer by layer using the raw material given as input to the 3D printer (3DP). There are a number of different types of 3D printing technologies, which process different materials in different ways to create the final object. Functional metals, plastics, sand and ceramics are all routinely utilized for industrial prototyping and production applications.

The market is gaining traction from a number of factors such as heavy customization where multiple individualized items can be manufactured simultaneously, saving time and energy while improving efficiency over the forecast period. The major benefactors benefitted from the technology include advanced prosthetics and concept visualization. Furthermore, factors enhancing the market include technological developments for enhanced flexibility, and rising demand driven by the increasing developments coupled with enabling faster designs and favorable funding in developed economies. However, High cost of equipment, lack of infrastructure, and lack of an international standards body regulating manufacturers may restraint the market.

The 3D printing market based on use has been sub segmented into commercial and personal. Commercial utilization segment, which serves as the most significant amount of demand, includes rapid manufacturing, rapid prototyping, mass production, and mass customization. On the counter prospective, personal applications involves printing 3D objects in-house for personal use. The commercial segment accounts for major demand-share, contributing to major amount of revenue.

On the basis of Technology, the global 3D printing (3DP) market is segmented into Polyjet, Selective Laser Sintering (SLS), Fused Deposition Modeling (FDM), and Stereo Lithography (SLA). PolyJet technology accounts for major of the total market share, and is expected to exhibit an exponential growth rate. Fused Deposition Modeling (FDM) segment is the second most prominent shareholding segment, and dominates the 3D printing market in terms of volume shipment. FDM is also widely utilized in a variety of industrial applications, from consumer goods to automotive. Further, the 3D printing market is bifurcated based on application, which is segmented as consumer products and electronics, medical, automotive, industrial, aerospace, military and defense, education, and architecture. Consumer product segment holds the maximum demand, trailed by the automotive sector, wherein 3D printing (3DP) is utilized to design a number of parts for automobiles. Few examples of vehicles interior parts are engines, gearbox handle, shafts, gears, brakes and spare parts and external parts such as window frames, doors, camshafts, body parts, steering rack, head and taillights.

Geographically, the 3D printing (3DP) market is bifurcated into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Among these regions, North America is expected to hold the largest market share of the 3D printing. Increasing household and commercial utilization among consumers is anticipating to contribute for the growth. Moreover, the capability of 3D printers to print on demand structures, materials, objects is expected to contribute to the fastest growth of the –Asia Pacific market over the forecast period.

Major market players in the global 3D printing includes, TNO, Stratasys Ltd., 3D Systems Corporation, EOS GmbH, Materialise NV, SLM Solutions Group AG, Arcam AB, Concept Laser GmbH, The ExOne Company, Voxeljet AG, Proto Labs, Inc., Optomec Inc., ARC Group Worldwide, Inc., GROUPE GORGÉ, EnvisionTEC GmbH, Mcor Technologies Ltd., Beijing Tiertime Technology Co. Ltd., Renishaw plc, XYZprinting, Ultimaker BV, Koninklijke DSM N.V., Höganäs AB, taulman3D, LLC, Nano Dimension, Carbon Inc., Markforged, Inc., and Cookson Precious Metals Ltd. among all the others.

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