Global 3D Printing Market Industry Trends, Estimation & Forecast, 2018 - 2025

3D printing, also known as desktop fabrication or additive printing technology, allows manufacturers to develop objects using a digital file and various printing materials. The materials used in 3D printing include several types of polymers, metals, and ceramics. 3D printing offers methodologies that can make manufacturing of complex designs an apparent reality. Factors such as ease in development of customized products, reduction in manufacturing cost and process downtime, government investments in 3D printing projects, and development of new industrial-grade 3D printing materials are driving the growth of the 3D printing industry.

While, the factors that drive the 3D printing market are reduction of errors, decrease in development cost and time, and the ability to build customized products. In addition, increase in applications in healthcare and various other industries is expected to create lucrative growth opportunities for 3D printing market. On the contrary, the high cost of 3D printing, and scarcity of skilled labors hamper the growth of the market.

“Global 3D Printing market is estimated to be USD 9.2 billion in 2018 and it is expected to reach more than USD 35.6 billion by 2025, likely to grow at a CAGR of 19.7% during the forecast period”
 
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Based on technology, DMLS accounted for the largest share of the 3D printing market. The DMLS technology is used in applications such as tooling and manufacturing of fixtures and jigs. The technology enables the creation of high-quality metal parts as it facilitates the construction of complex geometrics (having sizes as small as up to 20 µm) of metals, which makes it ideal for the manufacturing industry. DMLS is used to develop complex structures in industries such as aerospace and automotive for tooling and machinery parts. The detailed resolution, cost-efficient production, and quick and easy handling are the major drivers for the growth of the market for 3D printing based on DMLS technology.

While, the prototyping application held the largest 3D printing market share in 2018, and the trend is expected to be the same during the forecast period. The market for the prototyping application is driven by the steady demand for these applications in several industries.3D printing or AM helps produce prototypes and models from 3D computer-aided design (CAD). This helps several companies to reduce wastage during prototype transitions in traditional manufacturing and also helps them to bring down their operational costs.

North America is expected to hold the largest share of the 3D printing industry, while the market in APAC is expected to grow at the highest CAGR during the forecast period. However,the US held the largest share of the 3D printing market in North America in 2017. Continuous investments in research and development have broadened the applications of 3D printing in the academics and other industries, such as aerospace & defense, automotive, healthcare, industrial, consumer products, jewelry, and energy, where 3D printing is used for developing prototypes and manufacturing end products.

The key players in the global 3D printing market include Stratasys (US), 3D Systems (US), EOS GmbH(Germany), GE Additive (US), and Materialise (Belgium), among others. Stratasys and 3D Systems dominated the 3D printing industry, in terms of revenues. These two players have been relying on their strong research and development (R&D) capabilities, diversified product portfolio, global reach, strategic partnerships, and mergers and acquisitions to hold a large share of the 3D printing market. The market also has many small players that together hold the remaining share.

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