Global 3D Printing Market Report and Forecast 2024-2032

Global 3D Printing Market Outlook

The global 3D printing market size reached approximately USD 20.60 billion in 2023. The market is further projected to grow at a CAGR of 22.1% between 2024 and 2032, reaching a value of USD 124.24 billion by 2032.

Key Trends in the Market

3D printing which is also commonly known as additive or layer manufacturing is a method of creating three-dimensional objects using computer created designs. It turns a digital model into a solid tangible object by laying thin layers of a material.

• Rapid advancements in 3D printing technologies such as improved resolution, expanded material options, faster printing speeds, and increased accuracy are boosting the 3d printing market demand. These advancements have expanded the applications of 3D printing in automotive, jewellery, and education sectors.

• Rising demand for 3D printing from healthcare sector owing to their ability to produce highly personalised and customised products is driving the market growth. They can create specific medical products tailored to the requirements and preferences of individual customers.

• Governments of various countries including the United Kingdom, the United States, and Canada are implementing national programs for university level 3D printing research, promoting technological development, and are funding various research organisations to bring further innovations in 3D printing technology.

Global 3D printing Market Analysis

Based on component, the market is divided into hardware, software, and services. By printer type, the market is bifurcated into desktop 3D printer and industrial printer. On the basis of technology, the market is classified into stereolithography, fuse deposition modelling (FDM), selective laser sintering (SLS), direct metal laser sintering (DMLS), polyjet printing, inkjet printing, electron beam melting (EBM), laser metal deposition, digital light processing, and laminated object manufacturing, among others.

By material, the market is categorised into polymer, metal, and ceramic, among others. Based on process, the 3d printing market segmentation includes binder jetting, material extrusion, material jetting, powder bed fusion, and vat photopolymerisation, among others. On the basis of application, the market is categorised into prototyping, tooling, and functional parts.

By end use, the market is divided into automotive, education, aerospace and defence, healthcare, consumer electronics, and power and energy, among others. Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global 3D printing market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• 3D Systems, Inc.

• Xometry, Inc.

• Stratasys Ltd.

• Proto Labs, Inc.

• Velo3D, Inc.

• Desktop Metal, Inc.

• Materialise NV

• Nano Dimension Ltd

• Shapeways, Inc.

• Markforged, Inc.

• Others

Market Share by End Use

Automotive sector is expected to account for a szignificant 3D printing market share owing to the rising demand for new and better performing vehicles. The growing need to streamline logistics and supply chains and optimise production is driving the market growth. The growing complexity of parts involved in the vehicles is expected to boost the demand for 3D printing in the automotive sector. Incorporation of 3D printing in the automotive sector is further being supported as it lowers lead times and costs.

Market Share by Region

The Asia Pacific is anticipated to account for a significant share of the market over the forecast period as various countries in the region are increasingly adopting 3D printing technology in prototyping and advanced manufacturing processes. The rapid adoption of the 3D printing technology by the aviation sector in China is boosting the 3D printing market growth in the Asia Pacific region.

Competitive Landscape

3D Systems, Inc. was founded in 1986 and is headquartered in South Carolina, United States. The engineering company manufactures and sells 3D printers, 3D scanners, and 3D printing materials, and provides 3D printing services.

Xometry Inc. was founded in 2013 and is headquartered in Maryland, United States. The company offers CNC machining, sheet metal and injection moulding, and 3D printing services to its customers around the globe.

Stratasys Ltd. was established in 1989 and has its headquarters located in Rehovot, Israel. The additive manufacturing company provides its customers with 3D printers, materials, and software for polymer additive manufacturing.

Other 3D printing market key players include Proto Labs, Inc., Velo3D, Inc., Desktop Metal, Inc., Materialise NV, Nano Dimension Ltd, Shapeways, Inc., and Markforged, Inc., among others.

Key Highlights of the Report