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Desktop 3D Printer Market size is expected to grow USD 212.14 billion by 2027

08-15-2022 11:17 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Desktop 3D Printer Market

/ PR Agency: Market Statsville Group
Desktop 3D Printer Market size is expected to grow USD 212.14

The global desktop 3d printer market size is expected to grow from USD 59.79 billion in 2020 to USD 212.14 billion by 2027, at a CAGR of 23.5% from 2021 to 2027. Desktop 3D printing uses different materials, technologies, and services, to save time and improve the traditional manufacturing process by precisely applying the inputs with proper analysis of the printing technology, materials, and 3DP process conditions. The Desktop 3D printer market has been analyzed for the key components: types of 3DP materials (like plastics, photopolymers, resins, and others) and technologies (FFF, SLA, DLP, SDL, and others). The Desktop 3D printers are extensively used in various consumer sectors such as education & art, fashion & aesthetics, toys & consumer devices, healthcare, and household goods.

Desktop 3D printer ensures rapid prototyping in a cost-effective manner combining increased complexity of structure. 3D printing materials like thermoplastics, photopolymers, bio-ink, and composites are highly demanded materials in the healthcare sector because of their bio-compatibility, production, and low cost. With the growth of advancements in medical technology and the availability of various types of bio-compatible materials, the shipments of desktop 3D printers in healthcare are estimated to grow significantly.

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3D printing technology is the essential bridge between digital and physical disruption. It has the ability to turn digital files into physical objects, which allows people to design, scan, share, and send digital representations of physical objects anywhere to print 3D objects. 3D printing technology operates similarly to that of 2D printing on paper. In 3D printing technology, thousands of layers of material are printed layer upon layer with the help of an extruder to create the objects in 3D. Desktop 3D printers are considered the fastest-growing segment of 3D printing technology because of the lower cost of 3D printers, ease of use, and easy portability. Desktop 3D printing can be done at home, in offices, schools, and universities. The desktop 3D printer market is continuously reaching out to the clients, from small service providers to universities to home.

Global Desktop 3D Printer Market Dynamics
Drivers: Government Initiatives and Rising Investment for R&D
Although many factors play a vital role in making technology mainstream, the government finally takes technology to the next level through supportive policy formulations and by providing good fiscal strength.

Government organizations have started encouraging research and development initiatives foreseeing various advantages in bringing this technology to the masses. Owing to the government support and initiatives with the help of various desktop 3D printer manufacturers, the Chinese government announced a new policy to install a 3D printer in each of its approximately 400,000 elementary schools over the next two years. This campaign and financial investments by the government for the R&D of 3D printing technology largely increase customers' technological awareness.

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Restraints: Quality of Desktop 3D Printers
The quality of 3D printed object plays a pivotal role in deciding the quality of desktop 3D printers. The application of 3D printed parts requires high strength, superior surface finish, and high performance. The production of high performance and superior surface finish 3D printed object require superior quality desktop 3D printers. The printing of superior finish objects from desktop 3D printers requires technical expertise and state-of-the-art technology. Processing 3D printing filaments/liquid material to get fine & superior quality print using desktop 3D printer does not come cheap. FDM is the most preferred 3D printing technology across various consumer sectors because of its ease of use, lower cost, and ability to build tough and durable parts.

Healthcare is one of the most upcoming applications for Desktop 3D printers. A Desktop 3D printer can be used to print limbs, implants, and other body parts. A high-quality SLA desktop 3D printer is largely used for printing implants and prosthetics. The quality of desktop 3D printers changes for different consumer applications such as education & art, toys & consumer devices, fashion & aesthetics, housewares, and healthcare. A low-cost FDM 3D printer is largely used in the education & art sector. In contrast, a high-quality FDM 3D printer is used to print objects in fashion & aesthetics, toys & consumer devices, housewares, and healthcare.

Opportunities: Opportunities in the Enterprise Market
In any manufacturing industry /consumer sector, 3D printing technology means innovation in new technologies and the development of products at a low cost in less duration of time. While the main driver of the sector growth is expected to be the consumer market, there is also little space for innovation in the enterprise market. The manufacturers are focusing on new manufacturing techniques, products, or verticals and the other prospects in the ecosystem, from the recycling of printed plastic products to the sorting of 3D printed products for the consumers. Based on the analysis conducted, it is observed that there is still a gap between what desktop 3D printers can do and what they will end up being used for. Desktop 3D printer manufacturers and technology experts working with this technology continue to stretch the boundaries of applications.

A desktop 3D printer is currently mainly used for consumer sectors due to lower build volume and lower temperature capacity. However, a desktop 3D printer has larger scope in various manufacturing industries such as automotive, aerospace & defense, and heavy industries. Many R&D programs by desktop 3D printer manufacturers are going on to develop larger build volume sizes desktop 3D printers that can be used in various manufacturing industries.

Scope of the Report
By Components (Revenue, USD Billion, 2017-2027)
3D Printing Materials
Technologies
By Application (Revenue, USD Billion, 2017-2027)
Education & Art
Fashion & Aesthetics
Toys & Consumer Devices
Household Goods
Healthcare
Others (Prototyping, R&D, Food, Mold, Commercial Products
By Region (Revenue, USD Billion, 2017-2027)
North America (US, Canada, Mexico)
South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The 3D printing materials segment of the desktop 3d printer market is projected to account for the largest share by components
Based on the components, the desktop 3d printer market has been segmented into 3d printing material and technologies. The desktop 3d printer segment accounted for the largest share of 84.17% of the global desktop 3d printer market in 2020 and grew at a CAGR of 18.3%. 3D printing technology works in the same way as 2D printing on paper. 3D printing technology is the bridge between digital and physical disruption. It has the ability to turn digital files into physical objects, which allows people to design, scan, share, and send digital representations of physical objects anywhere to print 3D objects. The rapid growth of incompatible printing materials for desktop 3D printers has transformed the 3D printing technology and led to an advanced lifestyle with the printing of dresses, housewares, and fashionable accessories. Moreover, these materials can also be used for 3D printing of toys & consumer devices, fashion & aesthetics, and food.

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Asia Pacific accounts for the highest CAGR during the forecast period in the desktop 3d printer market.
Based on the regions, the global desktop 3d printer market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific I the fastest-growing region, having a CAGR of 30.3% during the forecast period and have a market revenue share of 36.53% in 2020. In Asia-Pacific, four main countries, namely, China, India, Japan, and the Rest of Asia-Pacific, are analyzed. Asia-Pacific holds the second position in the global desktop 3d printer market. The Asian countries have a higher consumer base. This can be attributed to the fact that this region is home to the world's fastest developing economies. With governmental organizations putting in relentless efforts to make a mark with 3D printing, new companies along with well-established names are setting up their centers in this region due to favorable policies. Developing economies like China and India offer tremendous growth opportunities for 3D printing technology because of the rise in lifestyle and income levels. The technological awareness through various campaigns and financial investment by the government in R&D is also largely helping in the progress of 3D printing technology.

China accounted for a major share of this market in 2020, and India is expected to experience rapid growth during the forecast period. However, developing countries such as India, Singapore, Hong Kong, Taiwan, and others have been recognized as essential markets, owing to rapid technological growth. The major players strive to develop manufacturing units in these markets to improve the production quantities and serve the Asian industries. Many other developments in the field of desktop 3D printing have helped China to capture significant revenue off the desktop 3D printer market such as researchers from Tsinghua University in China developed a new 3D printing technique which helps the doctors/surgeons to directly print 3D medical electronics inside the biological body through sequential injections of biocompatible packaging material and conductive liquid metal ink.

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Moreover, The Indian 3D printing market is relatively at a nascent stage compared to that of the 3D printing market on a global scale. Still, the growth has been very encouraging due to the rise of new startups and few global company operations in India. Owing to the gradual developments occurring in technology as a whole, 3D printing is now establishing itself to be a crucial part of the manufacturing sector. Factors such as an increase in government's support through programs like the Make in India campaign, companies are taking measures to create awareness among the public, making readily-available materials in the market to 3D print available to one and all, and advancement in 3D printing technologies, among others, which are driving the overall market growth in this domain. Thus, the improvement in overall production facilities is expected to create opportunities for the growth of this region's desktop 3d printer market.

Key Market Players
The desktop 3d printer market is mildly concentrated in nature with few numbers global players operating in the market such as 3DCeram, Canon, Inc., Autodesk, Inc., Arcam AB, 3D Systems, Inc., EnvisionTec, Inc., ExOne, Made In Space, Optomec, Inc., Proto Labs, Inc., Shapeways, Inc., Stratasys Ltd., Tiertime, Voxeljet AG, Dassault Systemes, EOS (Electro-Optical Systems) GmbH, GE Additive, HP Inc., Materialise NV. Organovo Holdings Inc. These players have been adopting various winning strategies to gain higher shares or retain leading positions in the market.

Eric Martin
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