Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

3D printing or also referred to as additive manufacturing is the construction of a three-dimensional object from a CAD model or digital 3D model. An object of any shape and size can be created by using a digital model. The primary principle in 3D printing includes the flexibility of output, translation of code, and material cartridges into a visible pattern. At present, this technology is used for rapid prototyping, speedy manufacturing, mass customization, and mass production.

The global 3D printing market is estimated to account for US$ 15,320.8 Mn in terms of value by the end of 2027.

Market Dynamics- Drivers

  1. Expanding applications in consumer products and automotive industries is expected to drive growth of the global 3D printing market during the forecast period

3D printing has witnessed massive adoption in the recent past, owing to expanding application areas. Growing awareness about the benefits of using 3D printing over conventional methods of manufacturing has further increased the adoption of 3D printing. Moreover, technological advancements such as the incorporation of new materials and surface enhancement of the final model, are expected to expand the application areas of 3D printing. In consumer applications, 3D printing is used in jewelry, home décor, toys, art, gadgets, and glass frames. Currently, this technology is set to replace die-casting and sand casting in the early phases of production. Therefore, these factors are expected to drive growth of the global 3D printing market during the forecast period.

  1. Growing trend to manufacture technologically advanced products is expected to propel the global 3D printing market growth over the forecast period

3D printing technology has witnessed technological evolution in the recent past. These innovations are created with high precision and accuracy, which in turn, has increased the demand for 3D print printing technology and associated products. Moreover, key players in the market are focused on research and development activities, in order to innovate novel products and expand the product portfolio. For instance, Fused Deposition Modeling (FDM) and Polyjet technology are the most widely used technologies at present in the 3D printing industry. Therefore, these factors are expected to propel the global 3D printing market growth over the forecast period.

Statistics:

North America held dominant position in the global 3D printing market in 2019, accounting for 39.0% share in terms of value, followed by Europe, APAC and RoW respectively

Figure 1: Global 3D Printing Market Share (%), in terms of Value, By Region, 2019

3D Printing  | Coherent Market Insights

Market Dynamics- Restraints

  1. Presence of counterfeit products is expected to restrain growth of the global 3D printing market during the forecast period

The major threat for market players is the violation of copyrighted products. This infringement of rights has disrupted the harmony of intellectual property laws in many countries. Although governments in many countries are conducting rigorous investigations, the issues regarding counterfeit products and infringement remain prevalence. As a result of this, certain laws and regulations have been exercised to prevent such felonies. For instance, using the Digital Millennium Copyright Act (DMCA) in the U.S., a copyright holder can notify an online service provider to claim and stop the continued infringement. Thus, these factors are expected to restrain growth of the global 3D printing market during the forecast period.

  1. Inability to mass produce in quick time is expected to hamper the global 3D printing market growth over the forecast period

3D printing is expected to replace conventional manufacturing in numerous countries since it is a simple and fast way of producing objects. It is economical, and the technology is currently being used to manufacture parts for assembling. For instance, computer parts such as chips and automotive components can be manufactured by 3D printing. However, the technology has not yet been successful in mass manufacturing of larger objects. Thus, these factors are expected to hamper the market growth in the near future.

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3D Printing Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 7,240.0 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 9.8% 2027 Value Projection: US$ 15,320.8 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, Rest of Middle East
  • Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Use: Commercial, Personal.
  • By Technology: Polyjet, FDM, SLS, SLA, Others.
  • By Application: Consumer electronics, Automotive, Medical, Industrial or business machines, Aerospace, Military and defense, Architectural, Education, Others.
Companies covered:

3D Systems, Inc., Voxeljet Technology GmbH, Arcam AB, Stratasys, Ltd., Concept Laser GmbH, Solidscape, Inc., EOS GmbH Electro Optical Systems, SLM Solutions GmbH, ExOne GmbH, and Optomec.

Growth Drivers:
  • Expanding applications in consumer products and automotive industries
  • Growing trend to manufacture technologically advanced products
Restraints & Challenges:
  • Presence of counterfeit products
  • Inability to mass produce in quick time

Market Opportunities

  1. Replacement of conventional manufacturing by 3D printing can present lucrative opportunities

3D printing has gained massive popularity in the recent past. The low cost and faster manufacturing in 3D printing have seen higher adoption of this technology in commercial applications. This is owing to the low manufacturing requirements of this technology. For instance, the US Naval Undersea Warfare Center (NUWC) got reductions in lead-time for the reverse engineering of submarine compressor pump casting from 51 weeks to 8 weeks. The cost for the same was reduced from US$ 29,562 to US$ 18,200.

  1. Development of 3D scanning can pose excellent opportunities for market players

Advent of 3D scanner has present numerous opportunities. A 3D scanner can scan objects of any dimension and print them into 3D models. Over the year, the 3D printing industry has witnessed significant development. For instance, Occipital developed and launched “Structure,” a 3D scanner for iPad devices that can scan objects in 3D space. The device uses infrared LEDs and a camera to model and measure its surroundings in 3D. Moreover, currently, technological advancements in the field of 3D scanning to develop 3D desktop scanners are taking place. For instance, in 2013, MakerBot Industries, a key player in the 3D printing market, launched “Digitizer,” a new 3D desktop scanner.

Figure 2: Global 3D Printing Market Value (US$ Mn), 2017 - 2027

3D Printing  | Coherent Market Insights

The global 3D printing market was valued at US$ 7,240.0 Mn in 2019 and is forecast to reach a value of US$ 15320.8 Mn by 2027 at a CAGR of 9.8% between 2020 and 2027.

Market Trends

  1. High demand from consumer product & electronics and automotive sector

The demand for 3D printing for consumer products and electronics and automotive has increased over the last couple of years due to the incorporation of new printing materials such as metal. This is supporting the growth of 3D printing. 3D printed electronic gadgets and 3D printed cars are expected to raise the demand in the future.

  1. Growing adoption of 3D printing for personal us

In the near future, the market for personal use is expected to experience a faster growth. This is due to declining cost of 3D printers and increased accessibility through 3D printing service centers. Moreover, this trend is expected to continue during the forecast period.

Global 3D Printing Market - Impact of Coronavirus (Covid-19) Pandemic

Due to Covid-19 pandemic, many industries witnessed significant shift in their business. There is significant impact on 3D printing market, as healthcare industries have suffered significant shortage of products. During this time of social and economic despair, most of the healthcare industries are under stress due to shortage of beds and medical equipment’s. There are disruption in the supply chain of these medical equipment throughout Europe, US and in India and due to this there is a shortage of medical equipment and kits. For instance, in Italy, there is a shortage of medical equipment’s and PPE kits for the protection of the heath workers in the hospitals.

Competitive Section

Major companies operating in the global 3D printing market are 3D Systems, Inc., Voxeljet Technology GmbH, Arcam AB, Stratasys, Ltd., Concept Laser GmbH, Solidscape, Inc., EOS GmbH Electro Optical Systems, SLM Solutions GmbH, ExOne GmbH, and Optomec.

Key Developments

  1. Major companies operating in the market are focused on product development, in order to expand product portfolio. For instance, in November 2019, 3D Systems, Inc. introduced its new application-specific production solution for automotive, aerospace, and healthcare industries.
  2. Key players are involved in partnerships and collaborations, in order to gain a competitive edge in the market. For instance, in November 2019, Voxeljet Technology GmbH partnered with Evonik for next-generation binder jetting technology.

3D printing is the process which involves layer by layer addition of material to form a three dimensional object from a software. The three dimensional object is created with the help of computer-aided-design (CAD) software. The material used for 3D printing process are polymers, ceramics and metals. 3D printing allows to produce complex shapes using minimal materials as compared to traditional manufacturing methods. Nowadays, CNC machines are replaced by 3D printing which produces multiple patterns within a very short time as well as reduced cost compared to the traditional pattern-making techniques.

Market Dynamics

Rising adoption of 3D printers among manufacturers is expected to drive the growth of 3D printing over the forecast period. This is attributed to its accuracy in printing objects. 3D printing technology is mainly used by the manufacturers to identify deficiency or discrepancies and to improve performance of the machines. This technology allows major players to manufacturer products according to the customer preferences. Moreover, 3D printing enables manufactures to optimally use raw materials and produce reliable products.

Furthermore, increased application of 3D printing in healthcare sector is expected to drive the growth of this market. Healthcare sector is now focusing on reducing costs, improving quality and becoming more patient-centric. This technology is helpful to people who are using prosthetic arms and legs. As this technology is used to produce artificial body parts for the people, time to produce body parts has reduced. For instance, in November 2016, Bioniks, launched first 3D printed prosthetic arm for a five-year-old boy in Pakistan. Hence, healthcare sector is expected to create lucrative opportunities for this market.

Market Taxonomy

This report segments the global 3D printing market on the basis of use, technology, application and region. On the basis of use 3D Printing market is segmented into commercial and personal. On the basis of technology, the global 3D Printing market is segmented into Polyjet, FDM, SLS, SLA, Others. On the basis of application, the global 3D printing market is segmented into Consumer electronics, Automotive, Medical, Industrial or business machines, Aerospace, Military and defense, Architectural, Education and Others. On the basis of region, the global 3D printing market is segmented into North America, Europe, Asia Pacific, ROW.

Key features of the study:

  • This report provides an in-depth analysis of the global 3D printing market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global 3D printing market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global 3D printing market are 3D Systems, Inc., Voxeljet Technology GmbH, Arcam AB, Stratasys, Ltd., Concept Laser GmbH, Solidscape, Inc., EOS GmbH Electro Optical Systems, SLM Solutions GmbH, ExOne GmbH, and Optomec.
  • The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global 3D Printing market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global 3D printing market.

Detailed Segmentation:

  • Global 3D Printing Market, By Use:
    • Commercial
    • Personal
  • Global 3D Printing Market, By Technology:
    • Polyjet
    • FDM
    • SLS
    • SLA
    • Others
  • Global 3D Printing Market, By Application:
    • Consumer electronics
    • Automotive
    • Medical
    • Industrial or business machines
    • Aerospace
    • Military and defense
    • Architectural
    • Education
    • Others
  • Global 3D Printing Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Rest of World
  • Company Profiles
    • 3D Systems, Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Voxeljet Technology GmbH
    •  Arcam AB
    • Stratasys, Ltd.
    • Concept Laser GmbH
    • Solidscape, Inc.
    • EOS GmbH Electro Optical Systems
    • SLM Solutions GmbH
    • ExOne GmbH
    •  Optomec

 *Browse all the market data tables and figures on “Global 3D Printing Market- Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Use
      • Market Snippet, By Technology
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New System Launch/Approval
  4. Impact of COVID-19 Pandemic on 3D Printing Market
    • Short Term and Long Term Impact, By Region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East and Africa
    • Short Term and Long Term Impact, By Application
  5. Global 3D Printing Market, By Use, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Commercial
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Personal
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Global 3D Printing Market, By Technology, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Polyjet
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • FDM
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • SLS
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • SLA
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global 3D Printing Market, Application, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Consumer electronics
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Automotive
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Medical
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Industrial or business machines
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Aerospace
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Military and defense
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Architectural
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Education
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  8. Global 3D Printing Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Use, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Use, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Regional Trends
      • Market Size and Forecast, By Use, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Use, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Use, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Technology, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  9. Competitive Landscape
    • Company Profiles
      • 3D Systems, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Voxeljet Technology GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Arcam AB
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Stratasys, Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Concept Laser GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Solidscape, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • EOS GmbH Electro Optical Systems
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • SLM Solutions GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • ExOne GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Optomec
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  10. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse XX market data tables and XX figures on “Global 3D Printing Market-forecast to 2027”.

Frequently Asked Questions

The global 3D printing market size was valued at US$ 7240.0 million in 2019 and is estimated to exhibit a CAGR of 9.8 % between 2020 and 2027.
Consumer electronics segment held the major market share in 2019 owing to recent advancement in the technologies and allowed manufactures to design more innovative and robust products.
Major factor driving the growth of global 3D printing market during the forecast period are expanding applications in consumer products and automotive industries.
Major factors hampering the growth of the 3D printing market during the forecast period constitutes presence of counterfeit products.
North America 3D printing market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are 3D Systems, Inc., Voxeljet Technology GmbH, Arcam AB, Stratasys, Ltd., Concept Laser GmbH, Solidscape, Inc., EOS GmbH Electro Optical Systems, SLM Solutions GmbH, ExOne GmbH, and Optomec.
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