3D printing is a manufacturing process that creates a solid three-dimensional model from the digital model by layer-by-layers deposition. These layers are made of ceramic, plastic, metals or polymers. The process follows bottom to top approach to create 3-dimensional solid models.
Increasing spending on research and development, growth in end user segment, and ease of manufacturing are major factors driving growth of the global 3D printing market. Increasing application especially in automotive and healthcare sector is further spurring demand for 3D printing market globally. In addition, product features such as reduction in time-to-market, reduction of raw material wastage, innovation and customization, along with its increasing popularity among hobbyist is expected to drive demand significantly during the forecast period. Adoption of 3D printers by local vendors as well to provide 3D printing, 3D modelling, 3D printing material, and software have created many business opportunities.
High material cost, and lack of skilled workforce to use and manage this technology are primary factors hampering growth of the global 3D printing market. Furthermore, production of large objects, and lack of standard process controls are other factors restricting market growth. Currently, intellectual property and copyright infringement challenges, which should be taken into consideration by key players, are restraining market growth to a certain extent. The current trend observed in the market is increasing use of 3D printing technology to produce automotive prototypes and dental implants.
North America market holds major market share in terms of revenue owing to presence of key market manufacturers, and high demand from healthcare, aerospace and automotive sector in countries in the region. Europe ranks second in terms of revenue generation. Among other regional markets, Asia Pacific market is expected to witness rapid growth in terms of revenue during the forecast period owing to government initiatives for development of 3D printing industry in countries in the region.
Global 3D Printing Market Segmentation:
Global 3D printing market segmentation by Technology:
Fused Deposition Modeling (FDM)
Selective Laser Sintering (SLS)
Global 3D printing market segmentation by application:
Global 3D printing market segmentation by industrial vertical:
Military and defense
Global 3D printing market segmentation by region:
Middle East & Africa
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3D Systems Corporation
SLM Solutions Group AG
Concept Laser GmbH
The ExOne Company
Proto Labs Inc.