3D Printing Technology Market To Be Worth USD 45.67 Billion By 2028|Stratasys, 3D Systems, ExOne GmbH

Market Overview:
Global 3D Printing Technology Market was valued at USD 13.12 Billion in 2021 and is expected to reach USD 45.67 Billion by the year 2028, at a CAGR of 19.5%.

3D printing technology, also known as additive printing technology or desktop fabrication, permits manufacturers to construct objects using a digital file and a variety of printing materials. Materials such as polymers, metals, and ceramics are utilized by 3D printing technology. It introduces methodologies that can make the production of complex concepts a reality. The revolutionary and cutting-edge 3D printing technology has the potential to revolutionize manufacturing and industry. It facilitates the design, scanning, uploading, and transfer of digital creations of real-world objects using 3D printing technology, as well as the transformation of digital documents into physical objects.

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Market Dynamics:
Driver:
In recent years, the 3D printing industry has made significant strides in the automotive sector. It is possible to manufacture lightweight vehicle components using 3D printing, thereby reducing vehicle weight, enhancing vehicle performance, and enhancing fuel economy. In addition, 3D printing technology can increase the efficiency of injection molding tool production. Before they can be installed in automobiles, plastic components produced with conventional techniques must cool. By integrating internal cooling channels into the injection molding process, 3D printing technology will reduce production time, enhance tool quality, and lower tool maintenance costs. These advantages support the market growth of 3D Printing Technology.

Opportunities:
The growing research and development by the major players create the opportunity for 3D Printing Technology in the forthcoming years. For instance, In October 2022, PostProcess Technologies and EOS established a distribution partnership in order to offer EOS customers a fully automated and environmentally friendly depowering solution. PostProcess claims that the Variable Acoustic Displacement (VAD) technology solution will complement the EOS printer product line and automate the gross depowering of 3D-printed parts. Therefore, these technologies will strengthen the market during the forecast period.

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Market Segmentation:
By Application
• Tooling
• Prototyping
• Functional Part Manufacturing
By Technology
• FDM
• SLM
• SLS
• MJP
• Others

By Industry Vertical
• Automotive
• Healthcare
• Aerospace & Defense
• Consumer Electronics
• Power & Energy

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Regional Outlook of 3D Printing Technology Market
North America holds the highest market share in 3D printing technology, followed by Europe, Latin America, and the Asia Pacific. North America has raised its investment for the development of innovative technologies and applications of 3D printing such as healthcare, defense & aerospace, electronics, and other applications. As the world's second-largest economy and the new game-changer in global markets, China has the potential to grow at a rapid rate during the forecast years. Numerous macroeconomic factors and internal market forces will shape the development and growth of the trends in emerging countries in the Asia-Pacific region.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Players Covered in 3D Printing Technology Market are:
The 3D printing technology market is highly consolidated owing to the majority of the market share are owned by top players in the industry.
• Stratasys
• Arcam AB
• 3D Systems
• Protolabs
• Materialise
• ExOne GmbH
• EOS GmbH
• SLM Solutions
• Concept Laser
• Ultimaker and other major players.

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