3D Printing Market Overview:
The 3D printing market is estimated to garner $8.6 billion by 2020, registering a CAGR of 21% during 2015 - 2020. 3D printing is also referred as additive printing technology that enables manufacturers to develop objects using a digital file and variety of printing materials. Global market for 3D printing material include polymers, metals and ceramics. In addition, 3D printing offers a wide array of applications in various industries, namely consumer products, industrial products, defense & aerospace, automotive, healthcare, education & research and others. The market has been analyzed across different geographic regions including North America, Europe, Asia-Pacific and LAMEA.
The factors driving this market are reduction of errors, high degree of accuracy, efficient use of raw materials, ability to build customized products, simultaneous use of multiple materials for printing, efficient use of production time and financials, and competency over traditional techniques among others. On the contrary, high production cost to individual users, expensive 3D printing software, lack of channel partner assistance, and scarcity of skilled labors are some of the restraints for the global 3D printing industry.
Key companies profiled in this report include 3D Systems, Arcam AB, Autodesk, Inc., Stratasys Ltd., The ExOne Company, Hoganas AB, Optomec, Inc, Organavo Holdings, Inc, Ponoko Limited, and Voxeljet AG.
The global market for 3D printing has been segmented based on component, application, and geography. Based on component, the market is classified into technology, material and services. Application wise, the market is categorized into consumer products, aerospace, defense, education & research, automotive, industrial, and others. Consumer products industry has been the highest revenue generating segment and is expected to be the highest generating segment even during forecasted period. Geographically, the market has been analyzed into North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific 3D Printing Market Scenario
Asia-Pacific region is expected to be the fastest growing market for 3D printing. This growth in 3D printing market is likely to take place due to the growing applications of additive manufacturing in healthcare, automobile and consumer industry. Rather than using conventional production techniques, additive printing is used for manufacturing automobile, consumer and healthcare products, such as mobile phones, toys, prosthetic implants, medical devices, engine parts, and others.
Automotive industry was the largest revenue-generating segment in the Asia-Pacific market in 2014 with the highest revenue. Consumer products industry would be the largest revenue-generating segment by 2020. Major factors contributing for this growth are the increasing demand of automobile and consumer products in Asia-Pacific market. This surge in demand for these products has developed due to the change in consumer lifestyle and increase in the spending capacity. The defense industry is expected to grow with higher CAGR from 2015 to 2020.
Market Share Analysis of 3D Printing Market by Application, 2014 & 2020 (% Comparison)
Regional Share Analysis
North America was the largest revenue-generating region in the industrial products market in 2014. Europe would be the largest revenue-generating region by 2020. This region is expected to hold its leadership by 2020. The LAMEA region is expected to grow with highest CAGR from 2015 to 2020. The factor contributing to the rapid growth of the LAMEA 3D printing market share is the expansion and development of industrial sector in this region.
Value Chain Analysis
Value chain of 3D printing includes various stakeholders, namely research and development, 3D printer and material manufacturers, retailers and final consumers. These stakeholders perform different role in their areas of operation. The primary activities conducted by these entities are directly helping the production process of 3D printers; however, the supportive activities fuel the primary activities without interrupting the processes. The external stakeholder, such as suppliers and consumers majorly influences the value chain of 3D printing market. External stakeholder majorly influences supportive activities, such as capital investment, technology and economies of scale.
Value Chain Analysis
Research and development are the first stakeholders in the primary activities. These stakeholders are responsible for changing the conventional techniques of manufacturing and introducing new technology into the market. Manufacturers are at second level of value chain, which construct components and accomplish higher precision and advanced resolution while providing faster manufacturing process and benefit of economies. Consumers of 3D printing are next to manufacturers who belong to diverse sectors namely automobile, consumer, defense, aerospace, industrial, healthcare, education and research, arts, architecture and others.
These activities indirectly influence the 3D printing market size. These activities are technology adoption, capital investment, patent protection and economies of scale. The high-end technologies used in development of new techniques for 3D printing add value to the industry and influence the role of stakeholders, such as manufacturers and consumers. Achieving economies of scale to achieve the return on investment is one of the major supporting activities in the value chain. Manufacturers in current market scenario are producing 3D printed objects on the demand and requirements from consumers.
- This report outlines the current and future trends of the global 3D printing market along with a detailed analysis of key factors influencing the market.
- The study is an intensive resolution of various segments and depicts the potential for 3D printing market growth.
- In this study, the current market position is analyzed qualitatively as well as quantitatively and a forecast for 2015‐2020 is provided to represent the financial potential of the market.
- Key companies in the 3D printing industry are profiled along with a SWOT analysis to highlight the required strengths and opportunities in the market.
- Porter’s Five Forces model illustrates the potency of buyers & suppliers, along with a detailed study on the market competition. This would enable the market players to develop effective strategies
- The report also provides a value chain analysis, evaluating the role and value addition of key intermediaries involved in the value chain
3D Printing Market Key Segments:
- Selective laser sintering
- Electron beam melting
- Fused deposition modeling (FDM)
- Laminated object manufacturing
- Metals & Alloys
- Consumer products
- Education & research
- North America
- Asia Pacific