3D Printing Market Size, Share & Industry Analysis, By Component (Hardware, Software, Services), By Technology (FDM, SLS, SLA, DMLS/SLM, Polyjet, Multi Jet Fusion, DLP, Binder Jetting, EBM, CLIP/CDLP, SDL, LOM), By Application (Prototyping, Production, Proof of Concept, Others), By End User (Automotive, Aerospace, and Defense, Healthcare, Architecture and Construction, Consumer Products, Education, Others), and Regional Forecast, 2024-2032

The global 3D printing market size was valued at USD 22.39 billion in 2023 and is projected to grow from USD 27.52 billion in 2024 to USD 150.20 billion by 2032, exhibiting a CAGR of 23.6% during the forecast period. The North America 3D printing market held a share of 36.53% in 2023. Additionally, the US 3D printing market is expected to significantly, reaching an estimated value of USD 33,782.4 million in 2032, driven by substantial investments of governments and tech giants in the market.

Rapid rise in digitization and increase in the adoption of advanced technologies including smart factories, Industry 4.0, machine learning, and robotics will fuel the demand for online 3D printing in simulation applications. 3D printing has a wide application scope through these technologies across industries, including automotive, aerospace, healthcare, and others. For instance,

• Aerospace companies are exploring this printing technology for manufacturing various hardware parts of their products. For instance, Boeing leverages industrial 3D printing to manufacture the interior parts of its plane, whereas, NASA uses it to build rocket engines and parts of the satellite.


• Automotive industry is expected to show a huge adoption of this technology. Rapid tooling incorporated with additive manufacturing has become the priority of many automotive manufacturers. Customization of the automotive interiors is another major application of this technology in the automotive industry.

Post the spread of the COVID-19 crisis, industrial hubs and manufacturing sectors witnessed immediate supply chain disruptions and halts on production. As a result of the fast-spreading pandemic, overall industrial production across the globe had experienced a sharp decline. It was demobilized, reflecting supply chain disruptions and reviving financial market conditions. The crisis forced market players across the globe to reduce their operational expenditures. Fewer operational expenditures restricted the investments of market players in this technology in 2020, impacting the 3D printing market growth.

3D Printing Market Trends

Advancements in 3D Hardware and Software to Generate New Revenue Streams for Market Players

Tech-savvy start-ups and established market players are upgrading and developing new technologies. The advancements in hardware have led to faster and more reliable 3D printers for production applications. Polymer printers are one of the most used 3D printers.

• December 2022 – Redington Limited made an agreement for ETEC, Materialize & Wipro products to establish full stack services and products for enterprises to facilitate a 3D manufacturing process. Moreover, Redington Limited partnered with Wipro 3D to facilitate the launch of polymer 3D printers across India.

The statistics show that developments in polymer additive manufacturing would create new opportunities for the market players.

Fused Filament Fabrication (FFF) and powder bed fusion technologies, such as Multi Jet Fusion offered by HP Inc. are expected to be the most preferred industrial 3D technologies among manufacturers due to their ability to facilitate high-volume manufacturing and increase productivity. Similarly, resin-based technologies, such as Digital Light Processing (DLP) and Stereolithography (SLA) are more likely to witness high demand from the dental and consumer goods industries.

Similarly, software developments are gaining pace in the 3D industry, driven by the demand to streamline operations. The technology has been extensively used in the manufacturing process, which has surged the need for software that can help manufacturers increase production volumes and enhance their additive manufacturing processes efficiently.

Following are the other 3D printing market trends which play a crucial role:

• Automation across the 3D printing workflow


• High-performance 3D printing materials development


• Demand for large-format systems in metal 3D printing


• Reliability across 3D printing technologies


• Adoption of 3D printing across existing markets and a stronger entry into newer markets


• Robust supply chains and on-demand production

3D Printing Market Growth Factors

Substantial Investments of Governments and Tech Giants to Foster Market Growth

Many countries across the globe are experiencing massive digital disruptions in advanced manufacturing technologies. The U.S. is a potential user of 3D technology. In 2018, the U.S. Department of Defense included this technology as an important capability in its budget. Even tech software giants, such as Autodesk, Microsoft, and HP have launched products for additive and 3D printing manufacturing.

Similarly, China is making significant efforts to maintain the competitive index of the manufacturing industry in the global market. Chinese manufacturers view this technology as a risk and an opportunity to boost the economy, and hence they tend to invest in the research and development of this technology.

India is looking forward to this technology as an opportunity to increase its share in the global manufacturing competitiveness. The market in India is supported by active government initiatives, such as the Make in India initiative. For instance, in May 2022, India Cements partnered with a construction 3D printing startup, Tvasta to promote sustainability in the construction sector.

Korea has established an independent roadmap for the research and development of this technology and provides national support to execute it. The government of Korea is introducing tax incentives and accelerating industry regulatory agreements to encourage the adoption of this technology.

The U.K. government has developed an independent 3D technology strategy; however, the strategy is witnessing some uncertainties in the country’s manufacturing sector due to Brexit. Germany is expected to define new strategies for the technology as the country has a well-established Industry 4.0 infrastructure.

According to the 3D Printing Trend Report 2022 by HUBS, 3D printing can make production chains more volatile during global crises, such as climate change and the COVID-19 pandemic. This technology can boost the sustainability of manufacturing and support environmental goals. As the market is moving to a mature stage, 3D printing will play a supportive role in various manufacturing processes, will continue to be used as a prototype to accelerate product development, and become more feasible for end-use applications.

RESTRAINING FACTORS

High Initial Investments to Restrict Market Growth

High initial investments are observed to be the most significant restraint for the adoption of this technology. This investment encompasses investment in hardware, software, materials, certification, additive & manufacturing education, and training for the employees. The capital and resources required to set up a 3-dimensional system are more expensive than the traditional printing methods.

However, with the introduction of the industrial Desktop 3D printer, the manufacturers are helping the end customers cut the high initial costs. Desktop printers are easy to use & handle and less expensive than the 3-dimensional system.

3D Printing Market Segmentation Analysis

By Component Analysis

Software Segment to Witness Strong Growth Owing to Wide Use in Design of Objects and Parts

On the basis of component, the market is divided into hardware, software, and services.

Adoption of hardware for manufacturing 3D printed materials is maximum and hence, this segment is likely to maintain its dominance during the forecast period. The demand for hardware is increasing as major market players are enhancing their product portfolio and launching new technologies to serve high demand from several industry verticals. Companies are investing in research & development activities, which will have a positive impact on the segment’s growth.

The software segment is expected to record a high CAGR during the forecast period. The 3D software is widely used in different industry verticals to design the objects and parts to be printed. As manufacturing companies are shifting away from traditional manufacturing methods, the adoption of 3D printing software has grown to print iterations of different manufacturing parts.

By Technology Analysis

Fused Deposition Modeling (FDM) Technology to Gain Traction Owing to Ease of Operation

Based on technology, the market has been divided into FDM, SLS, SLA, DMLS/SLM, Polyjet, Multi Jet Fusion, DLP, Binder Jetting, EBM, CLIP/CDLP, SDL, and LOM.

The Fused Deposition Modeling (FDM) technology segment captured the maximum market share in 2022. The growth of FDM is mainly due to the ease of operation and advantages associated with the technology. This technology is highly used in making durable, strong, and dimensionally stable parts.

The Direct Metal Laser Sintering (DMLS/SLM) technology segment is expected to record a high CAGR during the forecast period. The technology promotes the production of high-quality metal components, making them suitable for the manufacturing industry to create complex geometries of metals of extremely small sizes.

The Selective Laser Sintering (SLS) segment is expected to show significant growth in the coming years owing to its growing popularity in the consumer goods sector. SLS finds a wide variety of applications in industries, including aerospace, defense, automotive, and others. Polyjet, Multi Jet Fusion, DLP, Binder Jetting, EBM, CLIP/CDLP, SDL, and LOM technologies are expected to witness a significant rise in adoption in the coming years.

By Application Analysis

Prototyping Application Segment to Capture Maximum Market Share Due to its Wide Use Across Key Industry Vertical

3D printing technology has applications in prototyping, production, proof of concept, and others.

The prototyping segment represented the largest 3D printing market share in 2022 due to widespread acceptance of the prototyping process across various industrial verticals. Prototyping helps businesses achieve greater precision and produce consistent end-products. This technology helps manufacture 3-dimensional Computer-Aided Design (CAD) models and prototypes.

The production segment is expected to witness strong growth during the forecast period as manufacturers are shifting from traditional manufacturing processes toward advanced manufacturing processes. Also, the wide usage of this technology to produce complex and low-volume parts is expected to boost the segment’s growth during the forecast period.

By End User Analysis

Automotive Industry to Lead Market Owing to Maximum Use of Technology in Producing Prototype Equipment

Automotive, aerospace & defense, healthcare, architecture & construction, consumer products, education, and others are some of the end users of these printers.

The automotive industry held the maximum market share in 2022. For decades, the automotive industry has been using this technology to produce prototype equipment and small custom products in a short time span. The technology is being widely used to manufacture lightweight components for automobiles and OEMs.

Additive manufacturing has tremendous potential in the aerospace industry, where light, solid, and geometrically complex parts are required — and normally manufactured in limited quantities. Aerospace and defense companies are heavily using this technology to produce lightweight components. For instance, in March 2022, South Africa’s Department of Science and Innovation developed a pilot project to build around 25 houses by applying this printing technology to fight the shortage of housing in the country.

Additive processing in the healthcare industry helps create artificial tissues and muscles that mimic normal human tissues that can be used in replacement operations. These uses are anticipated to lead to the high acceptance of 3DP in the healthcare sector's development.

On the other hand, architecture & construction, consumer products, and education industries are anticipated to record a significant CAGR during the forecast period.

REGIONAL ANALYSIS

Geographically, the market is divided into five major regions, such as North America, South America, Asia Pacific, Europe, and the Middle East & Africa. They are further categorized into countries.

Globally, North America accounted for the maximum share in the global market mainly due to rising expenditure on advanced manufacturing technologies by developed countries, such as Canada and the U.S. Also, various government agencies, such as the National Aeronautics and Space Administration (NASA) have identified major R&D investments that can greatly contribute to space applications and create new technologies that drive business expansion.

Europe holds the second-highest share in the global market. The demand for this technology is high among small and medium-sized industries that require high-speed, reliable, and inexpensive prototypes for manufacturing purposes. The regional market is expected to showcase strong growth in adopting this technology in the manufacturing and semiconductors industry.

Asia Pacific is anticipated to record the highest CAGR during the forecast period. An increasing interest in the development of a sustainable printing environment has been backed by the regional manufacturers and the implementation of several policies and legislative proposals by governments in the region. Given the massive government funding for the industry, China is possibly the main force behind the adoption of this technology in Asia Pacific.

The Middle East and Latin America are expected to showcase high growth during the forecast period. The rapid adoption of 3D technology in these regions is mainly due to technological advancements and improvements in the manufacturing industry.

COMPETITIVE LANDSCAPE

Companies are Focusing on Partnerships and Collaborations for Safer Internet Environment

The prominent players in the market are focusing on offering advanced and innovative solutions to cater to the growing needs of industries. These key players are investing in R&D to provide innovative services and materials. They are entering strategic partnerships and collaborations to provide next-generation solutions. These companies are offering consumer-centric solutions to help boost business growth. Similarly, they are keen on offering a vast range of 3-dimensional materials to be used in every industry application.

• December 2022 – FITTLE partnered with Formlabs, a 3D printing provider, to aid and facilitate access to cost-effective digital manufacturing tools. This collaboration aided Formlabs in making Formlabs 3D printers even more accessible to users across North America.


• February 2022 – Imaginarium partnered with Ultimaker to introduce a desktop & industrial 3D printer range in the Indian market. This partnership would help Ultimaker expand its business in India, where additive manufacturing is anticipated to reach a point of breakthrough in the coming years.

List of Top 3D Printing Companies:

• 3D Systems Corporation (U.S.)


• The ExOne Company (Germany)


• voxeljet AG (Germany)


• Materialise NV (Belgium)


• Redwire Corporation (U.S.)


• Envisiontec, Inc. (Germany)


• Stratasys Ltd. (U.S.)


• HP, Inc. (U.S.)


• General Electric Company (GE Additive) (U.S.)


• Autodesk Inc. (U.S.)

KEY DEVELOPMENTS IN 3D PRINTING INDUSTRY:

• April 2023 – Nexa3D acquired AddiFab, a printing equipment supplier, to expand its printing technology. With this acquisition, AddiFab’s Freeform Injection Molding technology will be supported by NXE 400 SLA 3D printers.


• March 2023 - Neotech AMT partnered with APES to expand the reach of 3D printed electronics in North America. This partnership enabled both companies to share resources and technologies to improve the development and manufacturing capabilities of additive manufacturing.


• January 2023 – Lithoz agreed to a partnership with Wendt India Ltd. to expand sales operations in this market in India. By collaborating together, the companies aim to establish and develop ceramic 3D printing in India.


• January 2023 - Japanese group Nikon acquired industrial 3D printer manufacturer SLM Solutions. This acquisition aided Nikon in strengthening its presence in integrated metal additive manufacturing.


• March 2022 – 3DGence, a European manufacturer, launched a new industrial FFF machine, INDUSTRY F421, which is well-suited for high-performance materials. Additionally, the firm also introduced AS9100, a new high-temperature filament, which is made using polyether ether ketone (PEEK) and certified for use in the defense and aerospace sectors.

REPORT COVERAGE

The research report highlights leading regions across the world to offer the user a better understanding of the market. Furthermore, it provides insights into the latest industry trends and analyzes technologies that are being deployed at a rapid pace at the global level. It further offers information on the drivers and restraints, helping the reader gain in-depth knowledge about the market.

REPORT SCOPE & SEGMENTATION

ATTRIBUTE	DETAILS
Study Period	2019-2032
Base Year	2023
Estimated Year	2024
Forecast Period	2024-2032
Historical Period	2019-2022
Growth Rate	CAGR of 23.6% from 2024 to 2032
Unit	Value (USD billion)
Segmentation	By Component Hardware Software Services By Technology Fused Deposition Modeling (FDM) Selective Laser Sintering (SLS) Stereolithography (SLA) Direct Metal Laser Sintering (DMLS)/ Selective Laser Melting (SLM) Polyjet Multi Jet Fusion Digital Light Processing (DLP) Binder Jetting Electron Beam Melting (EBM) Continuous Liquid Interface Production (CLIP)/ Continuous Digital Light Projection (CDLP) Selective Deposition Lamination (SDL) Laminated Object Manufacturing (LOM) By Application Prototyping Production Proof of Concept Others (R&D, Tooling, and Others) By End User Automotive Aerospace and Defense Healthcare Architecture and Construction Consumer Products Education Others (Food, Fashion, and Others) By Region North America (By Component, By Technology, By Application, By End User, and By Country) U.S. (By Application) Canada (By Application) Europe (By Component, By Technology, By Application, By End User, and By Country) U.K. (By Application) Germany (By Application) France (By Application) Italy (By Application) Spain (By Application) Rest of Europe Asia Pacific (By Component, By Technology, By Application, By End User, and By Country) China (By Application) Japan (By Application) India (By Application) Southeast Asia (By Application) Rest of Asia Pacific Middle East & Africa (By Component, By Technology, By Application, By End User, and By Country) GCC (By Application) South Africa (By Application) Rest of the Middle East & Africa Latin America (By Component, By Technology, By Application, By End User, and By Country) Brazil (By Application) Mexico (By Application) Argentina (By Application) Rest of Latin America