3D Printing Market worth $34.5 billion by 2028 - Exclusive Report by MarketsandMarkets™

Rhea-AI Summary

The 3D printing market is projected to grow from USD 15.0 billion in 2023 to USD 34.5 billion by 2028, achieving a CAGR of 18.1%. Key factors driving this growth include the decrease in manufacturing costs, advancements in industrial-grade materials, and increased government investments. The market challenges include a decline in sales of 3D printing devices due to recession impacts. Opportunities arise from emerging applications in sectors like automotive and healthcare. Notable players in this space include Voxeljet (VJET) and Nano Dimension (NNDM), underscoring the competitive landscape and innovation in 3D printing technologies.

Positive

• Projected growth of 3D printing market from $15.0 billion in 2023 to $34.5 billion by 2028.
• CAGR of 18.1% indicates robust market expansion.
• Emerging applications in automotive and healthcare present significant growth opportunities.

Negative

• Decline in sales of 3D printing devices due to recession impact.

CHICAGO, April 13, 2023 /PRNewswire/ -- The 3D printing market is estimated to grow from USD 15.0 billion in 2023 to USD 34.5 billion by 2028, at a CAGR of 18.1% according to a new report by MarketsandMarkets™. Some key factors attributing to the growth of 3D printers involve ease in developing tailored products, decrease in manufacturing cost and process downtime, government investments in 3D printing projects, and advancements in industrial-grade 3D printing materials.

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Browse in-depth TOC on "3D Printing Market" 
184 – Tables
53 – Figures
296 – Pages

3D Printing Market Report Scope:

Report Coverage	Details
Market Revenue in 2023	$15.0 billion
Estimated Value by 2028	$34.5 billion
Growth Rate	Poised to grow at a CAGR of 18.1%
Market Size Available for	2019–2028
Forecast Period	2023–2028
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Offering, Technology, Process, Application, and Vertical
Geographies Covered	North America, Europe, Asia-Pacific, Middle East Rest of the World
Key Market Challenge	Decline in sales of 3D printing devices due to recession impact
Key Market Opportunities	Emerging applications of 3D printing technology in automotive, printed electronics, jewellery, and education fields
Key Market Drivers	Global government investment in 3D printing projects

 

Services segment is expected to have second largest share of the 3D printing market in 2023.

The 3D printing services are broadly classified into two types: after-sales and custom design and manufacturing. After-sales services include a warranty, maintenance, software, and training. Custom design and manufacturing services include contract manufacturing (outsourcing of quick parts or end parts production); design services; online platform services including content creation tools, cloud or online printing services, licensing, and others for third parties. Protolabs (US), Shapeways (US), ARC Group (US), 3D Hubs (Netherlands), and Sculpteo (France) are some of the 3D printing service providers known to provide on-demand 3D printing services.

SLA technology is projected to have second largest share of 3D printing market in 2023.

SLA-based 3D printing is used to create anatomical models, lightweight concept models, architectural models, urethane casting patterns, and large investment cast patterns. 3D Systems (US), Form Labs (US), Autodesk (US), and 3D Ceram (France) are some of the major companies offering 3D printers based on the SLA technology and services related to them. SLA is ideal for concept models, form and fit studies, and investment casting patterns, as the technology provides a high-quality surface finish.

Healthcare vertical is projected to have second largest share of 3D printing market in 2023.

Several medical products, such as surgical equipment, prosthetics, implants, and tissue engineering, are manufactured through 3D printing technologies. Apart from these, 3D printing is also used in orthopedic, dental, and craniomaxillofacial medical applications. New and improved technologies, financial support from the governments, and rapid product development at low costs are the major drivers that affect the market. In September 2021, Nexa3D, a developer of ultrafast polymer 3D printers, partnered with Henkel, a provider of functional polymers, to manufacture a 3D-printed connected SKOP stethoscope for WeMed company.

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North America to hold the largest share of 3D printing market in 2023.

North America is projected to hold the largest share of the 3D printing market during the forecast period. North America is a highly attractive market for the 3D printing market for the education vertical. The industry is adopting 3D printing systems to bring awareness about this new manufacturing method among students worldwide. 3D printing involves selecting materials based on the application and technology used to produce a product. In 2022, MakerBot, a 3D printing provider company, donated the MakerBot SKETCH, MakerBot METHOD X, MakerBot Replicator 3D printers, and 3D printing materials to several educational organizations that support underserved and low-income communities across the US.

Major players operating in the 3D printing market are Stratasys (US), Materialise (Belgium), 3D Systems (US), EOS GmbH (Germany), GE (US), Voxeljet (Germany), HP (US), SLM Solutions (Germany), CleanGreen3D Limited (Ireland), Protolabs (US), Optomec (US), Groupe Gorgé (France), Ultimaker (The Netherlands), Renishaw (UK), Beijing Tiertime Technology (China), XYZprinting (Taiwan), Desktop Metal (US), TRUMPF (Germany), Nano Dimension (Israel), Formlabs (US), Markforged (US), and Carbon (US).

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FAQ

What is the projected growth of the 3D printing market from 2023 to 2028?

The 3D printing market is projected to grow from USD 15.0 billion in 2023 to USD 34.5 billion by 2028.

Which companies are key players in the 3D printing market?

Key players include Voxeljet (VJET) and Nano Dimension (NNDM).

What is the CAGR of the 3D printing market according to the report?

The CAGR is projected at 18.1% from 2023 to 2028.

What are the main challenges faced by the 3D printing market?

A major challenge is the decline in sales of 3D printing devices due to the impact of recession.

What opportunities exist in the 3D printing market?

There are opportunities in emerging applications of 3D printing technology, particularly in automotive and healthcare sectors.