The term "Additive Manufacturing" (AM) is frequently used to describe the use of 3D printing in industrial applications. With the aid of software and a 3-dimensional printer, additive manufacturing involves adding material layer by layer to create an object from a three-dimensional file. To carry out the process, a pertinent 3D printing technology is chosen from the pool of options. The final step entails implementing this procedure across many industry verticals as necessary. The deployment comprises resolving copyright, licencing, and patenting-related issues as well as supplying installation services, consultation solutions, and customer support. In terms of prototyping, designing the structure and final goods, modelling, and speed to market, 3D printing is advantageous for manufacturers. Because of the significant decrease in production costs, firms are now able to sell superior items for less money. These advantages are anticipated to increase the demand for 3D printers in the upcoming years. According to the research report, “Global 3D Printing Market Outlook, 2028”, published by Bonafide research the market is anticipated to reach USD 61.33 Billion by 2028 with a robust CAGR of 23.20% from USD 17.80 Billion in 2022. The use of print-on-demand parts for the creation of specialised functional parts has been pushed by improvements in 3D printing technology and the availability of materials. With 3D printing, customised products may be produced to meet each customer's wants and specifications. The businesses offer specialised services, such as fundamental design development by designers, after which they let the clients collaborate on the product's design. The simple production of specialised goods is made possible by ongoing technological developments in the field of 3D printing, declining printer prices, and the availability of a variety of materials. Governments from all around the world are taking action and supporting organisations, businesses engaged in technology and research, and research centres in an effort to further explore the opportunities presented by 3D printing technologies and advance their development. Some countries, notably the US, the UK, and Canada, have established national efforts to assist the study of this technology at colleges. Global governments and businesspeople are showing increasing interest in 3D printing as a new use for cutting-edge technologies. Tech-savvy start-ups and well-established industrial heavyweights are both updating and developing new technology. Hardware advancements have led to 3D printers for production that are speedier and more reliable. The polymer printer is one of the most well-liked varieties of 3D printer. Regionally, North America dominated the market in 2022, with more than 33% of worldwide revenue. This is a result of additive manufacturing being widely used in the area. The U.S. and Canada are two examples of North American nations that were among the leading and early users of these technologies in a variety of manufacturing processes. Given its size in terms of geography, Europe is the largest continent. It is home to a number of industry participants in additive manufacturing that have extensive technical knowledge of the procedures. Hence, in 2022, the European market grew to become the second-largest regional market. The highest CAGR of over 25% is anticipated for the Asia Pacific region throughout the projection period. The advancements made in the region's manufacturing sector have contributed to the rapid adoption of AM in Asia Pacific. Also developing as a manufacturing powerhouse for the healthcare and automotive sectors is the Asia Pacific area. Rapid urbanisation and dominance on consumer electronics manufacturing are other factors boosting three-dimensional printing demand in the area. The market can be divided into Printer, Material, Services, and Software based on offerings. In 2022, the Printer segment held the majority of the market, with a share of 44.79%. The demand for better manufacturing techniques and rapid prototyping has greatly benefited the printer market. This segment's growth is primarily linked to a number of variables, including expanding industrialisation, rising consumer electronics penetration, developing civil infrastructure, fast urbanisation, and reduced labour costs. Also, throughout the projected period, the Material segment is anticipated to expand at a noteworthy CAGR of 24.67%. The simplicity, with which customised items may be developed, as well as the decline in production costs and process downtime, is factors that have contributed to the market's rise. Throughout the projection period, the software is anticipated to rise at a strong CAGR. To design the items and parts that will be printed, 3D printing software is widely utilised in a variety of industry verticals. The use of 3D software to print prototypes of various manufacturing parts has increased as manufacturing organisations move away from conventional manufacturing techniques. The market can be divided into two categories based on printer type: desktop 3D printers and industrial 3D printers. In 2022, the industrial printer segment dominated the market and generated more than 78% of total revenue. The widespread use of industrial printers in heavy industries including automotive, electronics, aerospace and defence, and healthcare can be blamed for the significant market share of industrial 3D printers. Some of the most popular industrial applications across these industry verticals include prototyping, designing, and tooling. Particularly small firms are adopting desktop printers and expanding their product offerings to include 3D printing and related services. For instance, the idea of "fabshops" is becoming more popular in the United States. These fabshops provide 3D printing of parts and components on demand based on the specifications and designs supplied by the customers. Therefore, it is anticipated that during the forecast period, demand for desktop printers will increase significantly. The market can be divided into Plastic, Metal, Ceramics, and Other Material categories based on the type of material used. Due to their versatility, affordability, and ease of use, plastic materials are the market leader with a share of 52.88% in 2022. This is because they are perfect for a variety of applications and sectors. Over the projection years, the metal category is anticipated to rise at a CAGR that is higher than 26.11%. Given that ceramic additive manufacturing is still relatively new, the demand for ceramic AM has increased as a result of increased research and development (R&D) for 3DP technologies like FDM and inkjet printing. Over the projection period, the segment is anticipated to expand at a high CAGR. The market can be divided into Design Software, Inspection Software, Printer Software, and Scanner Software based on the type of software used. The market's largest sector, design software, controlled more than 36.10% of global sales in 2022. Particularly in the automotive, aerospace and military, construction and engineering verticals, design software is utilised to create the designs of the thing to be printed. The hardware of the printer is connected to the objects that will be printed via design software. Over the forecast period, the printing software segment is expected to rule the global market. Design-based software is widely used to produce the blueprint of the products that will be printed in the automotive, aerospace, and military, construction, and engineering industries. The growing practise of scanning items and saving scanned papers is expected to increase demand for scanning software. Over the forecast period, the scanning software segment is anticipated to be driven by the ability to retain the scanned images of objects, regardless of their size or dimensions, for 3-dimensional printing of these products as needed. In accordance with the increasing deployment of scanners, the scanning software category is anticipated to rise at a healthy CAGR of 24.47% from 2023 to 2028 and produce significant revenues. The market can be divided into prototyping, manufacturing of functional parts, and tooling based on application type. In 2022, the prototyping market segment held the top spot and was responsible for more over 53% of worldwide sales. Due to widespread adoption of the prototyping process across numerous business verticals, the prototyping segment accounted for the biggest share in 2022. Prototyping is used extensively in the automotive, aerospace, and defence industries to precisely design and build parts, components, and complex systems. Manufacturers can build trustworthy final goods and attain improved precision through prototyping. Thus, it is anticipated that the prototyping category would continue to rule the market during the projection period. Smaller joints and other metallic hardware connecting elements are examples of functional pieces. While developing machinery and systems, accuracy and accurate sizing of these functional pieces are of the utmost importance. The category for functional components is anticipated to grow at a sizable CAGR of 24.68% from 2023 to 2028 in line with the rising demand for functional parts in both design and construction. The market can be divided into Powder Bed Fusion, VAT Photo Polymerization, Material Extrusion, Material Jetting, Binder Jetting, and Other Processes based on the type of process used. In 2022, Material Extrusion had a 36% market share, leading the industry. A continuous filament of composite or thermoplastic material is deposited using the additive manufacturing (AM) technique of material extrusion to create 3D parts layer by layer. A heated extruding nozzle heats the filament as it is pushed through it before depositing it onto a build platform. Vat polymerization also plays a significant role in 2022; the sculpture is built layer by layer out of a vat of liquid photopolymer resin. When necessary, an ultraviolet (UV) light is utilised to cure or harden the resin, and a platform is used to lower the object as each successive layer is completed. Throughout the forecast period, binder jetting is anticipated to expand at a substantial CAGR of 25.52%. Two components—a powder-based substance and a binder—are used in the binder jetting method. Between the layers of powder, the binder serves as an adhesive. Typically, the construction material is in powder form and the binder is in liquid form. Alternating layers of the construction material and the binding material are deposited by a print head as it advances horizontally along the machine's x and y axes. The printed product is slid onto its build platform after each layer. The market can be segmented based on the technology used, namely Stereolithography (SLA), Fuse Deposition Modelling (FDM), Selective Laser Sintering (SLS), Direct Metal Laser Sintering (DMLS), Polyjet Printing (Multijet), Electron Beam Melting (EBM), Digital Light Processing (DLP), and others. In 2022, the Stereolithography market segment held the top spot and accounted for more than 11% of worldwide revenue. One of the earliest and most widely used printing processes is Stereolithography. Although the benefits and convenience of use of Stereolithography technology are boosting its adoption, technological advancements and strong research and development efforts by industry experts and researchers are creating prospects for a number of other effective and dependable technologies. Due to the widespread implementation of the technology across numerous 3DP processes, Fused Deposition Modelling (FDM) accounted for a sizeable revenue share in 2022. Throughout the projected period, Direct Metal Laser Sintering (DMLS/SLM) technology is anticipated to expand at the highest CAGR of 25.11%. Since the technique makes it possible to produce intricate metal geometries in extremely small scales, it is well suited for the industrial sector because it encourages the manufacture of high-quality metal components. In the upcoming years, Selective Laser Sintering (SLS) is anticipated to experience rapid expansion. SLS has several different vertical applications, including those in the automotive, aerospace, and defence industries. In the following years, it's anticipated that usage of technologies like Polyjet, DLP, Binder Jetting, EBM, CLIP/CDLP, SDL, and LOM would significantly increase. On the Basis of Vertical Type, the market can be segmented into Industrial, Aerospace & Defense, Automotive, Healthcare, Architecture & Construction, Consumer Products, Education and Research, Other Verticals (Fashion & Jewellery, Food, Energy, Printed Electronics, & others). The adoption of 3D Printing technology in Aerospace & Defense sector holds the maximum share of 23.41% in 2022. This is due to The Aerospace and Defense industry has been a innovator in the global 3D industry market due to the unique requirements of their products and the benefits that 3D printing offers. With 3D printing, aerospace and defense companies can rapidly produce and iterate prototypes, reduce manufacturing time and costs, and create complex geometries that would be difficult or impossible to manufacture using traditional methods. Moreover, 3D printing enables the personalization and improvement of parts and components, resulting in enhanced functionality and performance. These advantages have led to a rise in the use of 3D printing technology in the aerospace and defence sectors, strengthening its position as the market leader in the world of 3D printing. Throughout the projection period, the automotive sector is anticipated to have a strong CAGR of 25.68%. The automotive sector uses this technology to quickly make small custom products and prototype machinery. The technology is probably going to be applied to the creation of lightweight OEM and automotive components. In the healthcare sector, additive processing aids in the development of synthetic muscles and tissues that resemble healthy human tissues and can be utilised in substitute procedures. The vertical acceptance of 3DP in healthcare and the growth of the sector are projected to result from these skills. On the other hand, it is projected that the sectors of architecture and building, consumer goods, and education will expand at a considerable CAGR during the forecast period. The adoption of additive manufacturing is being hampered by the widespread misunderstandings small and medium-sized firms have about prototyping procedures. Instead of attempting to comprehend the advantages and benefits of prototype, businesses involved in design, especially small and medium-sized organisations, are hesitating before considering expenditures in prototyping as responsible investments. These businesses generally hold the belief that prototype is only an expensive step before manufacturing. Such misconceptions about prototype, in addition to a lack of technical expertise and an impending lack of standardised process controls, are anticipated to restrain industry expansion. Recent Development: • In December 2022, INTAMSYS launched a Functional Material, FUNMAT PRO 310, an industrial-grade 3D printer. The new 3D printer was unveiled at Formnext 2022 event. Formnext is a leading European show for additive manufacturing. The FUNMAT PRO 310 3D printer is designed for high-temperature 3D printing capabilities. • In December 2022, Photo centric, a UK-based 3D printer manufacturer, launched Liquid Crystal (LC) Titan 3D Printer. This 3D printer has the largest and most potent photo-centric unit to date. • In December 2022, a world-leading brand of resin 3D printers, Creality, launched laser modules to turn 3D printers into laser cutters. • In December 2022, a 3D printer start-up in Arizona, Mechanano, launched a new carbon nanotube-based electrostatic dissipative 3D printing resin in the market designed to yield vat polymerization 3D printed parts with enhanced impact resistance. • In December 2022, Horizon Micro technologies, a micro fabrication start-up, launched a new microscale 3D printing technology. This new technology will help bring greater manufacturing versatility to the production of electrodes. • In December 2022, a US-based software company, Conflux, launched a new cartridge heat exchanger developed with 3D printing technology. The heat exchanger is configurable and provides high performance. • In November 2022, Switzerland-based 3D printer material provider, NematX launched its material extrusion platform Nex01 liquid crystal polymer 3D printer at Formnext 2022. It is designed to provide high performance for production with maximum process control with micron resolution 3D printing capabilities. Covid-19 Impact: Every industry was negatively impacted by the abrupt covid-19 epidemic, including the worldwide 3d printer business. The stringent lockdown had an impact on the manufacture of 3d printers, which stopped production and delayed or rejected projects and contracts. The import and export of materials required for manufacturing was impacted by the trade restrictions. The supply chain was disrupted by a labour shortage, and logistics had a detrimental impact on the economy of the 3d printer sector as a whole. The covid-19 pandemic had an impact on business and income for many significant firms in the worldwide 3d printing market. Also, because of the pandemic's shattered economy, trade shows, meetings, new corporate partnerships, strategic collaboration, and company mergers was either postponed or rejected. Companies Mentioned in this Report: Stratasys, 3D Systems,Inc., Materialise NV, EOS GmbH, General Electric Additive, voxeljet AG , SLM Solutions, Renishaw plc, Proto Labs, Design fusion, Ultimaker BV, Tiertime, New Kinpo Group, Hoganas AB, Covestro, Desktop Metal,Inc., Nano Dimension, Formlabs, Carbon, Inc. , Markforged Holding Corp Considered in this report • Geography: Global • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Global 3D Printing market with its value and forecast along with its segments • Region-wise 3D Printing market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Regions & Countries covered in the report: • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Spain, Italy, Russia) • Asia-Pacific (China, Japan, India, Australia, South Korea) • South America (Brazil, Argentina, Colombia) • Middle East & Africa (UAE, Saudi Arabia, South Africa) By Offerings: • Printers • Materials • Services • Software By Printer Type: • Desktop 3D Printer • Industrial 3D Printer By Material Type: • Plastic (Thermoplastics, ABS, PLA, Nylon, Other Thermoplastics, Photopolymers) • Metal (Steel, Aluminium, Titanium, Nickel) • Ceramics • Other Material Types (Composites, Resin, etc.) By Software Type: • Design Software • Inspection Software • Printer Software • Scanning Software By Application Type: • Prototyping • Functional Part Manufacturing • Tooling By Process: • Powder Bed Fusion • VAT Photopolymerization • Material Extrusion • Material Jetting • Binder Jetting • Other Processes (Directed energy deposition, Sheet lamination, etc.) By Technology Type: • Stereolithography • Fuse Deposition Modelling • Selective Laser Sintering • Direct Metal Laser Sintering • Polyjet Printing • Electron Beam Melting • Digital Light Processing • Others (Laser Metal Fusion (LMF), Selective Absorption Fusion (SAF), LCD 3D Printing, Continuous Liquid, Interface Production (CLIP)/ Continuous, Digital Light Projection (CDLP), Selective Deposition Lamination (SDL), Laminated Object Manufacturing (LOM), Etc.) By Vertical Type: • Industrial • Aerospace & Defense • Automotive • Healthcare • Architecture & Construction • Consumer Products • Education and Research • Other Verticals ( Fashion & Jewellery, Food, Energy, Printed Electronics & others) The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to 3D Printing industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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