About 3D Printing (3DP)
3D printing is also known as additive printing technology or desktop fabrication, which allows manufacturers to build objects by using a digital file and various other printing materials. The materials which are been used in 3D printing basically include numerous types of polymers, ceramics, and metals. 3D printing basically offers methodologies that can make the manufacturing of complex designs an obvious reality. The factors which are driving the 3D printing market are the reduction of errors, the ability to build customized products, and a decrease in development cost and time. In addition to this, an increase in applications in healthcare and several other industries is expected to create growth opportunities in a lucrative way. On the contrary, the high cost of 3D printing, and the low availability of skilled laborers are hampering the growth of the market. According to AMA, The global 3D printing (3DP) market size was estimated at USD 12.4 billion in 2021 and expected to register a CAGR of 23.6% and may see a market size of 23.3 Billion by 2027
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Billion) |
CAGR | 23.6% |
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies Analyst at AMA Research estimates that United States and German Players will contribute the maximum growth to Global 3D Printing (3DP) market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Stratasys (United States), 3D Systems Corporation (United States), EOS GmbH (Germany), GE Additive (United States), Materialise (Belgium), SLM Solutions (Germany), ExOne (United States), Voxeljet (Germany), HP (United States) and EnvisionTEC (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Autodesk, Made In Space and Canon.
Segmentation Overview
AMA Research has segmented the market of Global 3D Printing (3DP) market by Type (Industrial Printers and Desktop Printers), Application (Prototyping, Functional Part Manufacturing and Tooling) and Region.
On the basis of geography, the market of 3D Printing (3DP) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement.
If we see Market by , the sub-segment i.e. will boost the 3D Printing (3DP) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Development of New Industrial-Grade 3D Printing Materials and Rapid adoption of 3D Technology in the region is mainly due to technical advancements and improvements in the manufacturing industry
Market Growth Drivers:
Ease in Development of Customized Products, Reduction in Manufacturing Cost and Process Downtime and Government Investments in 3D Printing Projects
Challenges:
Ensuring Product Quality and Threat of Copyright Infringement
Restraints:
Limited Availability and High Cost of Materials, Limitation of Product Size and Lack of Standard Process Control
Opportunities:
Potential to Improve Manufacturing Processes and Enhance Supply Chain Management and Emerging Applications in Several Industries
Market Leaders and their expansionary development strategies
In May 2021, GE Additive partnered with Protolabs and fashion designer Zac Posen to construct four gowns and a headdress for showing at the Met Gala. and In March 2021, Renishaw collaborated with Domin, a manufacturer of hydraulic systems and direct drive servo valves, to develop a high-performance servo valve.
In May 2022 Stratasys Ltd., a leader in polymer 3D printing solutions, today announced the industry’s first 3D printer designed specifically for printing direct-to-textile. The Stratasys J850™ TechStyle™ 3D printer, the company’s newest PolyJet™ printer, is being launched to meet the unique needs of design and fashion manufacturers, which include 3D printing for high-end, premium textiles and clothing, bags and accessories, and footwear.
The FDA does not regulate 3D printers; rather, the FDA regulates the medical products created through 3D printing. The type of regulatory review required is determined by the type of product being manufactured, its intended use, and the potential risks to patients. Devices, the most common type of 3D printed product at the moment, are regulated by the FDA's Center for Devices and Radiological Health and fall into one of three regulatory categories, or classes. (The agency may also regulate imaging devices and software components used in the manufacture of these devices, but this is done separately.)
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.