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A00145 | Pages: 312 | Charts: 59 | Tables: 122 |
The global 3d printing market was valued at $13.2 billion in 2020 and is projected to reach $94.0 billion by 2030, growing at a CAGR of 22.1% from 2021 to 2030.
3D printing is a manufacturing technique for creating three-dimensional items from a digital file. 3D printing is used to create objects through additive processes of sequential layers of material. Owing to its great precision and economical use of resources. Further, 3D printing solutions such as resin 3d printers, 3d printer filaments, and 3d printing services have gained popularity in a variety of sectors for the production of bespoke items. Previously, 3D printing was only used for quick prototyping. However, as technology advances and applications expand, 3D printing is increasingly being utilized for the functional testing of prototypes under working settings as well as the creation of final goods.
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In addition, 3D printing is a part of additive manufacturing and uses similar techniques such as inkjet printer-albeit in three dimensions. Moreover, the 3D printing method has witnessed a surge in demand across the healthcare, defense, and automotive sectors owing to the rise in deployment of 3D technology, thereby driving the market growth.
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The 3D Printing industry is expected to witness notable growth during the forecast period, owing to a reduction in manufacturing cost and process downtime. Furthermore, government investments in 3D printing projects have driven the growth of the market. Moreover, the ease of development of customized products is expected to propel the growth of the 3D Printing market growth during the forecast period.
However, lack of standard process control and limited availability & high cost associated with 3D printing materials are some of the prime factors that restrain the market growth. On the contrary, the rise in utilization of 3D printing in healthcare sectors, applications in various industries, and improved manufacturing processes are expected to provide lucrative opportunities for the growth of the market during the forecast period.
The outbreak of COVID-19 has significantly impacted the growth of the 3D printing market outlook in 2020, owing to a significant impact on prime players operating in the 3D printing supply chain. However, the rise in penetration of 3D printing solutions in the healthcare sector during COVID-19 has significantly boosted the market growth during the pandemic. On the contrary, the market was principally hit by several obstacles created amid the COVID-19 pandemic, such as a lack of skilled workforce availability and delay or cancelation of projects due to partial or complete lockdowns, globally. Furthermore, the surge in the adoption of smart infrastructure solutions across the automotive, retail, and healthcare sectors is expected to strengthen the 3D printing market size.
The 3D Printing market is segmented into technology, applications, and country. Depending on the technology, the market is segregated into stereolithography (SLA), selective laser sintering (SLS), electron beam melting (EBM), Fused deposition modeling (FDM), laminated object manufacturing (LOM), and others. The selective laser sintering (SLS) segment dominated the market, in terms of revenue, in 2020, and is expected to follow the same trend during the forecast period.
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Based on application, it is categorized into consumer electronics, industrial, aerospace, automotive, healthcare, defense, education & research, and others. The consumer electronics segment acquired the largest 3D Printing market share in 2020, however, the healthcare segment is expected to grow at a high CAGR from 2021 to 2030.
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Region-wise, the 3D display market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of the Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America, specifically U.S., remains a significant participant in the global 3D printing industry This is attributed to the fact that major organizations and government institutions in the country are intensely putting resources into the technology, which is anticipated to open new avenues for the expansion of the market.
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Key Market Segments
Key Market Players