3D Printing Market Market Outlook
According to a new report by Expert Market Research titled, “Global 3D Printing Market Size, Share, Analysis, Report and Forecast 2023-2028″, the 3D printing market reached a value of USD 16.87 billion in 2022. Aided by the rising demand for customisable products and the increasing applications of 3D printing across various industries, the market is projected to further grow at a CAGR of 22.10% between 2023 and 2028 to reach a value of USD 55.9 billion by 2028.
3D printing, also known as additive manufacturing, is a process that creates physical objects from a digital design by depositing material layer by layer. It has revolutionised the manufacturing process by offering rapid prototyping, customisation, and on-demand production. Besides its speed and flexibility, 3D printing also offers waste reduction, making it a more sustainable manufacturing process. The technology finds extensive applications in various industries, including automotive, aerospace, healthcare, and consumer goods.
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The burgeoning consumer preference for customised products is driving the global 3D printing market growth. With the evolving customer expectations and growing desire for personalised products, there has been a significant shift towards on-demand production, leading to a surge in demand for 3D printing. Moreover, the trend of Industry 4.0 and the digital transformation of manufacturing processes have further contributed to the popularity of 3D printing.
The diverse applications of 3D printing in various industries also play a significant role in boosting the 3D printing market expansion. In the automotive and aerospace industries, 3D printing is used for rapid prototyping and the production of complex parts, reducing the time and cost associated with traditional manufacturing processes. The healthcare sector leverages 3D printing for the production of custom prosthetics, implants, and medical devices, which has significantly improved patient care. Moreover, the consumer goods industry uses 3D printing for the creation of personalised products, further expanding the scope of the 3D printing market.
Additionally, the growing adoption of 3D printing in the education sector has led to an increased focus on this technology as an essential tool for learning and innovation. With the rising emphasis on STEM education and the increasing popularity of experiential learning, 3D printing has emerged as a crucial component in educational institutions, thereby contributing to the 3D printing market development.
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3D Printing Market Segmentation
The market can be divided based on component, printer type, technology, material, process, application, end use, and region.
Market Breakup by Component
Market Breakup by Printer Type
- Desktop 3D Printer
- Industrial Printer
Market Breakup by Technology
- Fuse Deposition Modelling (FDM)
- Selective Laser Sintering (SLS)
- Direct Metal Laser Sintering (DMLS)
- Polyjet Printing
- Inkjet Printing
- Electron Beam Melting (EBM)
- Laser Metal Deposition
- Digital Light Processing
- Laminated Object Manufacturing
Market Breakup by Material
Market Breakup by Process
- Binder Jetting
- Material Extrusion
- Material Jetting
- Powder Bed Fusion
- Vat Photopolymerisation
Market breakup by Application
- Functional Parts
Market Breakup by End Use
- Aerospace and Defence
- Consumer Electronics
- Power and Energy
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global 3D printing companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- 3D Systems, Inc.
- Xometry, Inc.
- Stratasys Ltd.
- Proto Labs, Inc.
- Velo3D, Inc.
- Desktop Metal, Inc.
- Materialise NV
- Nano Dimension Ltd
- Shapeways, Inc.
- Markforged, Inc.
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