Global Industrial 3D Printing Market Outlook (2023 to 2033)
The global industrial 3D printing market was valued at US$ 2.4 billion in 2022 and is expected to reach US$ 17.7 billion by 2033, at a CAGR of 21% from 2023 to 2033. With increasing customization and flexibility, engineers and designers can test tools, while the demand for medical devices with enhanced functions is stimulating the market for industrial 3D printing. A growing market for digitization and the use of artificial intelligence (AI) technologies for designing and manufacturing these devices is expected to grow the market in the future.
In light of the increasing demand for Industry 4.0 and faster turnaround times, 3D printing services with reduced costs will grow in the market. Several countries such as China and Japan are expected to continue investing in research and development, which will create opportunities for the Asia Pacific 3D printing market to grow over the next few years.
The market growth is expected to be supported by:
Creating functional prototypes of products
Implementation of tools
Using lightweight components
Development of products at a faster pace
Flexibility in the design process
Providing tailored solutions
Creating complex geometries
Medical devices with enhanced functionality
The rapid prototyping process
Research and development activities are on the rise
An increase in investments
Materials that offer an advanced level of performance
Technologies are constantly evolving
Compared to traditional processes, 3D printing produces fewer wastes, requires no tools or molds, and produces customizable outputs. Therefore, 3D industrial printing is in high demand. Industrial and consumer printers can be used to rapidly produce prototypes and final vehicle parts in the automotive industry using a variety of materials, including plastics, metals, and alloys.
As technology continues to evolve, the number of companies using 3D printing has increased rapidly. A growing number of potential applications for 3D printing is encouraging companies to explore ways of using the technology to create new business models and opportunities, as the potential applications of the technology are growing.
Due to the demand for intricate parts in the aerospace and defense industries, that are produced in low volumes, 3D printing has become a popular solution in the market. By utilizing this technology, complicated geometries are developed efficiently without costly tooling investments, which might prove expensive in the future. The technology provides aerospace OEMs and suppliers with an economical method of producing small amounts of parts. In the forecast period, aerospace 3D printing is predicted to grow at a CAGR of 17% during the forecast period.
As part of the defense industry, the 3D printing of electronics is a new but rapidly growing area of interest. A modern circuit board design and prototyping technology allows engineers to create complex circuit boards and antennas on site. As a result, manufacturers will be able to speed up their product development process by avoiding outsourcing high-value projects to third parties.
The prototyping process has become an essential part of product development, allowing parts to be tested and validated before being manufactured. Using 3D printing to design and produce parts is quick and cost-effective. Creating custom parts using 3D printing proves to be an effective and flexible way for automakers to be cost-effective and to keep costs down.
For instance, Porsche recently launched a new concept for sports car seating that incorporates 3D printing and lattice structures. They have 3D-printed polyurethane cushions for the seat and backrest, and the firmness can be customized.
Taking inspiration from the motorsport industry, which specializes in customized seats for drivers, the German automaker offers personalized seating. To develop street-legal versions by mid-2021, Porsche developed 40 prototype seats that were tested on European race tracks by May 2020.
According to estimates, 3D printing was used to fabricate over 600,000 implants by 2020. It is expected that this number will reach 4 billion by 2027. Anatomy models specific to individual patients are increasingly produced using 3D printing in hospitals. 3D printing techniques like Material Jetting are usually used to create these models, which are based on a patient's MRI and CT scan.
Data Points
Key Statistics
Estimated Base Year Value (2022)
US$ 2.4 billion
Expected Market Value (2023)
US$ 2.62 billion
Anticipated Forecast Value (2033)
US$ 17.7 billion
Projected Growth Rate (2023 to 2033)
21% CAGR
3D Printing is an additive process of building 3-dimentional object layer by layer using 3D printer and CAD-based 3D modelling software. The most common raw material used to create 3D objects is plastic. Resins, metal, carbon fiber, graphite and graphene, nitinol, liquids or powder grains being fused together, also been used as raw material for 3D Printing. 3D Printing is exact opposite process of subtractive manufacturing processes.
The technologies like Fused Deposition Modeling (FDM), Direct Metal Laser Sintering (DMLS), Electron Beam Melting (EBM), Selective Heat Sintering (SHS), Selective Laser Melting (SLM), and Selective Laser Sintering (SLS), Electron Beam Melting (EBM), Drop on Demand (DOD), Material Jetting (MJ) are used predominantly in 3D printing.
These all technologies are used in development of complex parts of aerospace, automotive industry, as well as industrial machine parts. The flexible design, fast design and production, rapid prototyping, quick and easy handling of materials are the major drivers for the growing demand for Industrial 3D Printing in the market.
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What are the Key Trends Impacting Growth of the Industrial 3D Printing?
As new and emerging players entering into the market, the 3D Printing Industry is proving divers in nature. New start-ups like ICON(USA), Spectroplast(Switzerland), Laser Melting Innovations(Germany), One Click Metal (Germany) are coming up with new promising technologies like silicone 3D printing, developing of low-cost Laser Powder Bed Fusion 3D printer, new 3D printing based on the electro photographic process.
Due to increase in number of new players and their new technologies in the market, the industrial 3D printing market has continued to grow and is now expanding and expect this number to grow considerably. It is thus fueling the healthy competition and pushing companies to focus more on innovation and development.
Industrial 3D Printing: Drivers for Market Demand
According to industry research, the global 3D printing market size is expected to reach nearly US$ 50 billion by 2026, and it will be surging at a CAGR of about 25% in the next 5 years. The 3D printing becoming popular in healthcare because of its applications such as to create patient-specific body parts and organs using data from CT and MRI scans.
Also 3D-printing accurately replicated anatomical structures for treating aortic dissection and aortic aneurysm using CT scans of patients. Hence, looking into the growth, increasing application of 3D printing technology in healthcare is set to become a key driver.
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What are the Key Challenges that may Restrain Growth of the Industrial 3D Printing?
The major challenge or restrain growth of the Industrial 3D Printing is high initial investment along with complex components, machinery, high level technology etc., and that’s why the manufacturing cost of 3D Printing is high. Also the challenge of the Industrial 3D Printing is, cost of raw materials for manufacturing of 3D printed industrial production parts and components.
The 60-70% material used for 3D printing is polymers and cost of polymers is high as compare to other materials, due to which the overall production cost increases. The cost of metal material for 3D Printing is about US$ 500 per kg which is way more than the alternate products available in the market. Due to increase in production cost of the product 3D Printing industry’s growth is saturated.
Competition Landscape
The key vendors in the Industrial 3D Printing Market are identified based on their country of origin, different regions, developments, product diversification, and industry expertise. These vendors include-
Stratasys
3D Systems
Materialise
EOS GmbH
GE Additive
ExOne
voxeljet
SLM Solutions
EnvisionTEC
HP
Electro-Optical Systems
Concept - Laser GmbH
Sisma SpA
Arcam AB (GE Aviation)
Hewlett Packard Inc.
Proto Labs Inc.
Others.
These vendors are adopting various key strategies, to increase their customer base locally and globally. They are spending millions of dollars into product research & development to fulfill the requirements of their customers.
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What strategies are adopted by Prominent Vendors to Increase their Customer-base?
The companies involved in 3D Printing are carrying out different expansion strategies organic as well as inorganic for increasing their market share in the global Industrial 3D Printing Market.
In February 2021, 3D Systems announced Introduction of next generation ‘High Speed Fusion’ 3D printing system for aerospace and automotive market applications. By introducing High Speed Fusion filament printer, 3D Systems focuses on their expansion of product portfolio in the growing market that demand high reliability products such as aerospace and automotive.
In March 2020, Stratasys announced its partnership with m2nxt Solutions. This partnership aimed to deliver synergy to 3D printing solutions and additive manufacturing application to help enterprises prepare for Industry 4.0.
In February 2021, SLM Solutions announced that the partnership between AMEXCI and SLM Solutions aims to boost industrialization and support companies to successfully implement AM technologies for serial production of complex metal parts.
3D Printers Industry in Industry 4.0
Industry 4.0 has seen implementation and integration of new emerging technology like Big data, Model Simulation, Cloud Technology, Augmented Reality, 3D Printers/Additive Manufacturing, Artificial Intelligence, Autonomous Robots and Cyber security. Industry 4.0 introduce ‘Smart manufacturing’ in which physical systems expected to communicate with each other in Cloud Technology/virtual mode/ Internet of Things (IoT) though wireless web.
Today 3D printing technology is at a stage where companies are starting to realize tangible value for themselves and their customers using the technology. The old technology printers were slow as per the time concern but it can be the opportunity for 3D printers industry in coming days. 3D printers will be the great solution for mass production if key vendors find the solution over time constraints.
Why is the USA region to contribute the Largest Market Share?
3D printing industry is spread over the region North America, Europe, Asia Pacific, and other regions. But North America, especially the USA, is at top in 3D printing industry as majority of key vendors like Stratasys and other vendors are based out of USA region.
These vendors creates opportunities for the new emerging players in the technologies like Fused Deposition Modelling (FDM) and Stereolithography (SLA). The use of 3D printing is increased in USA due to high demand form industrial sectors such as aerospace, automotive, medical devices, oil and gas sectors and others, for wide range of applications to create production parts, tools and prototypes.
Why UAE market would grow at significant rate in MEA region?
As per the announcement by government across MEA region, it is expected that the construction of 25% of buildings in Dubai to be based on 3D printing technologies by 2030. The major driving factor to adopt 3D printing industry in MEA is construction, which is supposed to increase the demand for sustainable 3D printing technology market.
Dubai has adopted 3D printing technology by considering major factors like reduction in the labour costs, reduce time, increase in accuracy, customization of the products. UAE accounted for around 18% of the MEA 3D printing market in 2021 and is expected to hold nearly 22% of the market share by the year 2025. So UAE is expected to dominate in 3D Printing market in coming years, in the MEA region.
Key Segments of Industrial 3D Printing Covered in the Report
