Projected Surge in Global 3D Printing Market to USD 95.31 Billion by 2032: An Impressive CAGR of 18.5% Anticipated

The Global 3D Printing Market Size was valued at USD 17.38 Billion in 2022 and the Worldwide 3D Printing Market Size is projected to reach USD 95.31 Billion by 2032, as reported by Spherical Insights & Consulting. Major companies in this field include Stratasys, Ltd., Materialise NV, EnvisionTec, Inc., 3D Systems, Inc., GE Additive, Autodesk Inc., Made In Space, Canon Inc., Voxeljet AG, Optomec, Groupe Gorgé, Renishaw, EOS GmbH among others.

New York, United States, Jan. 24, 2024 (GLOBE NEWSWIRE) — The Global 3D Printing Market Size will grow from USD 17.38 Billion in 2022 to USD 95.31 Billion by 2032, with a Compound Annual Growth Rate (CAGR) of 18.5% during the projected period.

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3D printing, also known as an additive manufacturing technology, doesn’t require a material block or a mold to create physical objects. Instead, it stacks and fuses layers of material. This typically results in it being faster, having lower fixed setup costs, and being capable of producing more complex geometries than ‘traditional’ technologies. The list of materials that it can work with is also constantly expanding. It is most commonly used in engineering, specifically for prototyping and creating lightweight geometries.

With the ability to create bespoke geometric parts with minimal additional complexity, sustainability has become a major market driver for the 3D printing industry. Benefits include the reduction of waste, increases in design flexibility and localization of production. Technological advancements have led to increased capabilities, improved efficiency, and reduced costs. Nonetheless, the high initial capital requirements remain a significant restraint for entry into the 3D printing industry.

Discover key industry insights spread across 200 pages with 120 market data tables and figures and charts from the report on the Global 3D Printing Market Size, Share, and COVID-19 Impact Analysis, Printer Type (Industrial 3D Printer, Desktop 3D Printer), By Printing Type (Stereolithography (SLA), Direct Light Processing (DLP) and Continuous Direct Light Processing (CDLP)), By Component (Software, Hardware, Services), By End-User (Automotive Industry, Residential, Commercial, Infrastructure), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”

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The Industrial 3D printer segment is anticipated to show the fastest growth in the global 3D Printing market during the forecast period. Based on printer type, the 3D printing market can be divided into industrial 3D printer, and desktop 3D printer. Among these, the industrial 3D printer segment is predicted to have the fastest growth in the global 3D printing market in the years to come. Industrial 3D printers are widely employed for prototyping, designing, and tooling across numerous industries including automotive, electronics, aerospace & defense, and healthcare.

The stereolithography (SLA) segment is projected to grow at the highest pace in the global 3D printing market during the forecast period. The global 3D printing market can be categorized based on the printing type into stereolithography (SLA), direct light processing (DLP), and continuous direct light processing (CDLP). Among these, the stereolithography (SLA) is anticipated to show growth at the highest pace in the global 3D Printing market in the future. Stereolithography is one of the oldest and most commonly used printing technologies. Its ease of use and numerous other benefits are driving its use. Nonetheless, technological advancements and continuous research and development efforts are paving the way for other efficient and reliable technologies.

The hardware dominates in the global 3D Printing market during the forecast period.
As per the component division of the global 3D printing market, which includes software, hardware, and services, hardware takes up the dominant space during the forecast period. This can be attributed to the rising significance of rapid prototyping and innovative manufacturing practices which largely benefit the hardware industry. Its growth is propelled further by swift industrialization, rapid urbanization, and the growing popularity of consumer electronic devices.

The automotive industry is predicted to experience the fastest growth in the global 3D printing market during the forecast period.
When it comes to the end-users, the global 3D printing market is segmented into the automotive industry, residential, commercial, and infrastructure sectors. Amid these, the automotive industry takes the lead in the global 3D printing market during the forecast timeframe. Beyond the obvious savings in weight and cost, the automotive industry is welcoming the adoption of 3D printing. It offers a quick pathway to prototype new or personalized parts for testing or limited production. For instance, if a certain part becomes unavailable, it can be produced in a small, tailored run, potentially including the production of spare parts.

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North America dominates the market with the largest market share over the forecast period.

North America stands as the leader in the global 3D printing market, expected to continue reigning over the forecasted timeline. Innovation, entrepreneurship and technological advancements are at the heart of North America’s dominance in 3D printing. The region’s thriving manufacturing sector together with industries like aerospace, automotive, healthcare, and consumer goods have all widely embraced 3D printing technologies for different applications such as prototyping, fast tooling, and low-volume manufacturing.

However, the fastest growth in the global 3D printing market is expected from the Asia-Pacific region. Much of this expansion can be traced back to the continuous improvements and developments within the region’s manufacturing industry. Asia Pacific is also emerging as a manufacturing giant, offering extensive contributions to sectors like automotive, healthcare, and consumer electronics.

Competitive Analysis

A comprehensive analysis of key organizations/companies involved in the global 3D printing market is presented in the report. This analysis provides an objective comparison based on their product offering, business overviews, geographical presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides a detailed analysis revolving around the latest news and developments from companies. This includes product development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and more, allowing a thorough evaluation of the overall competitive landscape within the market. Some of the significant vendors in the global 3D printing market include Stratasys, Ltd., Materialise NV, EnvisionTec, Inc., 3D Systems, Inc., GE Additive, Autodesk Inc., Made in Space, Canon Inc., Voxeljet AG, Optomec, Groupe Gorgé, Renishaw, EOS GmbH, and many others.

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Recent Market Developments

In July 2023, the company Creality, a 3D printer manufacturer based in Shenzhen, released the K1 Max 3D Printer, now available for $899. The K1 Max is designed to make high-quality 3D printing more accessible to a broader audience, offering a printing speed of 600mm/s in just 0.03s and a build volume of 300x300x300mm. It features a quick Core XY architecture, a lightweight 190g printhead, and a 1080p AI camera for real-time monitoring and time-lapses. The K1 Max also includes AI LiDAR technology, refining performance and accuracy.

Market Segment

This study projects revenue at global 3D printing, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global 3D printing market based on the below-mentioned segments:

Global 3D Printing Market, Printer Type Analysis

Industrial 3D Printer

Desktop 3D Printer

Global 3D Printing Market, Printing Type Analysis

Stereolithography (SLA)

Direct Light Processing (DLP)

Continuous Direct Light Processing (CDLP)

Global 3D Printing Market, Component Analysis

Software

Hardware

Services

Global 3D Printing Market, End User Analysis

Automotive Industry

Residential

Commercial

Infrastructure

Global 3D Printing Market, Regional Analysis

North America

US

Canada

Mexico

Europe

Germany

Uk

France

Italy

Spain

Russia

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Australia

Rest of Asia Pacific

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

UAE

Saudi Arabia

Qatar

South Africa

Rest of Middle East & Africa

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