3D Printing Market Report - The Industry to Gain Benefit from Digital Transformation

A three-dimensional object is produced using the additive manufacturing technique of 3D printing by adding additional layers of material. Although the technology was first introduced in 1980, it only recently became popular. Manufacturers in a wide range of industries, aerospace, and healthcare, including automotive, consumer, and industrial products, are all incorporating 3D printing technologies. The Worldwide 3D Printing Market in 2021 was USD 14 billion, and it will reach USD 77.83 billion by 2030, growing at a 21% CAGR during 2021-2030.

3D Printing Market Insights:
• In 2021 the industrial printer segment ruled the overall market with a share of over 70% On the basis of printer type.
• The stereolithography segment held the maximum revenue share of more than 8.0% in 2021 on the basis of technology.
• The hardware segment ruled the overall market with a revue share of 60% in 2021 on the basis of components.
• On the basis of software, the printing software segment held a significant position, with a market share of greater than 35% in 2021.
• The prototyping segment in 2021 ruled the market with a revenue share of approximately 55% in terms of application.
• On the basis of materials, the metal segment withheld a significant position with a revenue share of nearly 50% in 2021
• By end-user, in 2021, the automobile segment held the highest revenue share of over 25%.
• North America ruled the overall 3D printing market, with a market share of nearly 30% in 2021.

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3D Printing Market Dynamics:
The market is expanding primarily due to the advantages of 3D printing for manufacturers, including prototyping, product development, innovation, and time-to-market. The market is expanding more quickly due to the ongoing commercialization of technology to increase market share and provide cutting-edge products. Globally active R&D in 3D printing technology and rising government investments are further boosting the market value.
The growth of 3D printing is anticipated to be constrained over the forecast period by capital-intensive technologies and high material costs. Additionally, the absence of common process controls on the market will likely hamper growth during the projection period. Conversely, untapped industry sectors like printed electronics and underwater 3D printing will likely open up new vistas of business opportunities over the forecast period.

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3D Printing Market Segmentation
The worldwide 3D Printing Market segmentation has been done on the basis of printer type, software, technology, application, end-user, material, component, and region.
By Printer type:
• Industrial
• Desktop

By Technology
• Electron Beam Melting
• Stereolithography
• Digital Light Processing
• Polyjet/Multijet Printing
• Fused Deposition Modelling
• Direct Metal Laser Sintering
• Selective Laser Sintering

By Software
• Design Software
• Scanning Software
• Printer Software
• Inspection Software

By Application
• Prototyping
• Manufacturing Functional Parts
• Tooling

By End-user
• Desktop 3D printing
• Educational Purpose
• Object
• Food
• Fashion and Jewellery
• Dental

• Industrial 3D printing
 Aerospace and Defence
 Consumer Electronics
 Industrial
 Automotive
 Healthcare
 Power and Energy
 Others

By Material
• Thermoplastics
• Ceramics
• Metal
• Photopolymer
• Plastic
• Other Materials

By component
• Hardware
• Software
• Service
By Process
• Material Jetting
• VAT Photopolymerization
• Powder Bed Fusion
• Binder Jetting
• Material Extrusion
• Other Processes

By Region
North America
• Canada
• Mexico
• United States

Europe
• Germany
• Italy
• United Kingdom
• France
• Rest of Europe
Asia Pacific
• South Korea
• Japan
• India
• China
• Rest of Asia Pacific
Rest of the world
• Africa
• Middle East
• South America

North America ruled the overall market in 2021 with a market share of nearly 30%. This is due to the region's widespread use of additive manufacturing. By 2030, the North American market for 3D printing materials will be worth more than USD 1.4 billion. The market growth in North America will be fuelled by positive trends in the medical and aerospace sectors. The adoption of 3D printing across a variety of sectors and the expanded selection of materials will provide growth opportunities. The American government's initiatives to advance 3D printing, along with funding for research and development, will hasten its adoption and increase demand for 3D printing supplies and machines.

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Key players in 3D Printing Market:
• Materialize
• Canon Inc
• Stratasys Ltd
• Voxeljet AG
• 3D Systems Inc
• Envision TEC Inc
• Autodesk Inc.
• HP Inc
• Made In Space
• GE Additive
• The ExOne Company

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This release was published on openPR.