COVID-19 Impact on 3D Printing Market worth $30.2 billion by 2025

The Report "COVID-19 Impact on 3D Printing Market by Offering (Service, Printer, Material, and Software) - Global Forecast to 2025" Post-COVID-19, the global 3D printing market size is estimated to grow from USD 11.4 billion in 2020 to USD 30.2 billion by 2025; it is expected to grow at a CAGR of 18% from 2019 to 2025. The market in 2020 is estimated to witness a drop of more than 19% in comparison to the pre-COVID 2020 estimates. A key reason for this is that although the operation of 3D printers is expected to be high in 2020, most of the activities for which the printers/services are being employed are being done free of cost during this time of need.

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Factors that will drive the post-COVID-19 3D printing market growth include the need for 3D printing to provide aid to the disrupted supply chain, move by companies to increase the variety and range of products to be printed in the long term, and companies moving toward creating a digital inventory. In the long term, companies will have to start adopting new strategies, making radical changes to ensure that they are not in a situation, which is similar to what they are facing currently as a result of a possible future pandemic/disaster. As such, 3D printing forms an integral part of digitization plans in organizations, which will now fastrack in the coming years to regain momentum.

Printer sales are expected to stagnate in 2020 and pickup again during forecast period showing healthy double-digit growth rates

The 3D printing market will continue to generate revenue in 2020 although not as much as initially estimated before the pandemic. The losses of the first half of the year are expected to be compensated to a certain extent by the revenue generated in the second half of the year. Growth in the following years will be a result of backlog orders across all end-user industries as well as sales from new customers who previously had not thought of employing 3D printers until the pandemic had portrayed the benefits.

Material sales will follow similar trend to that of printers with players in future investing more on emerging material types

The revenue generated from the sales of materials for 3D printers would be following a similar trend as that of printers. Large volumes of printing may be taking place in the first quarter of 2020, however, in most of cases, the materials are being provided free of cost. There will be a focus on the use of emerging materials for printing during the forecast period, however, the benefits of the same will start to emerge after the forecast period.

Global 3D printing market will continue to be resilient during and post COVID-19 pandemic

The overall 3D printing market will witness a contraction in potential revenue that could be generated. For example, the drop in anticipated revenue for 2025 is expected to be USD 6.3, however, this is far better than what many other industries would be witnessing now as a result of the various implications of COVID-19. The encouraging fact for the 3D printing industry, however, is that the return to double-digit growth rates is expected to take place as early as next year, which is especially attractive for new players planning on entering the market in the next few years.

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3D HUBS, 3D Printing Ally, 3D Systems, Craftcloud, Formlabs, Materialise, Origin, SLM Solutions Group, Stratasys Ltd, and Tinkerine are a few of the industry participants present in the 3D printing market.

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This release was published on openPR.