Industrial 3D Printing Market

Industrial 3D Printing Market Size

Industrial 3D Printing Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 21.3% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 9.4 billion and is projected to reach USD 79.2 billion by the completion of 2034.

Industrial 3D printing, also known as additive manufacturing, is an advanced production method that constructs three-dimensional objects layer by layer using digital models. Traditional subtractive manufacturing involves material removal, whereas 3D printing deliberately adds material to create elaborate complex designs. This technology is often used in industrial settings to generate working prototypes, end-use parts, and components for various industries such as aerospace, automotive, healthcare, and engineering. Additionally, industrial 3D printing is well-known for its ability to provide rapid and cost-effective production while accommodating complicated geometries, playing an important role in modern manufacturing. Consequently, industrial 3D printing is flexible in dealing with various materials, including plastics, metals, ceramics, and composites, which contributes to its significant impact on innovation, efficiency, and customization across industries.

Market Highlights

Industrial 3D Printing Market is expected to grow at a compound annual growth rate (CAGR) of 21.3% from 2024 to 2034

Industrial 3D Printing Market is projected to reach USD 79.2 billion over the forecast period, due to its transformative influence on manufacturing across various sectors. The demand for customized and complex components has pushed the adoption of industrial 3D printing for rapid prototyping and production. Materials, such as metals, polymers, ceramics, and composites, have numerous applications, which is a primary factor encouraging this growth. Moreover, industries such as aerospace and healthcare, benefit from 3D printing to create lightweight, long-lasting components and personalized medical implants. Furthermore, technological innovations and a shift toward large-scale manufacturing play a significant role in defining the industrial 3D printing market. Therefore, as companies acknowledge cost savings, low waste, and creative freedom provided by industrial 3D printing, the market will witness a long-term growth, which will support innovation and challenge traditional production methods.

Source: Fatpos Global

Industrial 3D Printing Market Segmentation

Powder Bed Fusion segment will dominate due to its benefits in providing smooth workflow

By Process, Industrial 3D Printing Market is divided into Binder Jetting, Powder Bed Fusion, Direct Energy Deposition, Material Extrusion, Vat Photopolymerization, Material Jetting, and Sheet Lamination. The powder bed fusion segment is expected to dominate the industrial 3D printing market as it is one of the most prevalent methods for industrial additive manufacturing (AM). This category includes well-known techniques such as selective laser sintering (SLS) for plastics and selective laser melting (SLM) for metals. Additionally, the distinctive advantage that pushes powder bed fusion to the forefront is its ability to eliminate the need for support structures. This is particularly crucial when working with plastics and their derivatives, as the surrounding powder bed provides support during the 3D printing process. Therefore, the elimination of support structures provides smooth production workflow, which contributes to the high adoption and dominance of powder bed fusion in the industrial 3D printing market.

Printers segment will lead due to its high usage and assistance in production

Based on Offering , the Industrial 3D Printing Market is segmented into Printers, Materials, Software, and Services. The printers segment will likely maintain its dominance in the industrial 3D printing market throughout the forecast period. During its early stages, 3D printers were seen as more of a novelty than a functional tool. However, as costs continue to fall and improvements in technology occurred, the consumer base for 3D printers witnessed dramatic growth. These printers are currently essential in professional printing applications and helps in the production of complex and lightweight components for high-value products ranging from aircraft to race cars. Furthermore, the growth of the printers segment is attributed to the evolving perception of 3D printing. This shift in perception, combined with ongoing improvements in printer technology, solidifies the dominance of printer segment and positions it as a major driver for the expansion of industrial 3D printing market.

Source: Fatpos Global

Market Dynamics

Growth Drivers

Innovation and Technological Progress Create Growth Opportunities

Technological improvements and continuous innovation are integral drivers for the growth of industrial 3D printing market. Continuous development in 3D printing hardware and procedures significantly expands the potential of 3D printing technology and improves its accuracy, speed, and adaptability. Additionally, improvements such as faster printing speeds, larger build volumes, and the introduction of new materials help to widen the usefulness of 3D printing across a variety of industries. These continual developments attract new users to adopt 3D printing and encourage existing users to explore new possibilities, resulting in a dynamic market landscape. Therefore, constant dedication to innovation makes industrial 3D printing as a significant manufacturing solution, which assist in driving market growth and expanding its reach across several industries.

Increasing Adoption in the Aerospace and Healthcare Industries will Lead to Market Expansion

Increasing integration of industrial 3D printing in essential sectors such as aerospace and healthcare emerges as a substantial growth catalyst. The technology's ability to produce precise, lightweight components meets the strict demands of aerospace industry. Additionally, in healthcare sector, industrial 3D printing accelerates the development of customized medical implants and accurate prototypes, bringing a paradigm shift toward patient-specific treatment. Moreover, as these industries increasingly adopt 3D printing for critical applications, the market will continue to experience growth. Therefore, the rising use case and success stories in aerospace and healthcare considerably boosts the reputation of 3D printing technology, thereby attracting more investment and adoption across a wide range of industrial applications.

Restraints

Industry Growth is Hindered by High Equipment Costs and Initial Investments

High initial investment and equipment expenses associated with the adoption of 3D printing is a substantial limitation surrounding the industrial 3D printing market. The acquisition and establishment of industrial-grade 3D printing machinery, especially for extensive production, can be financially demanding. The costs associated with advanced hardware, premium materials, and essential infrastructure create a challenge, particularly for smaller businesses and enterprises operating within limited budgets. This elevated entry cost has the potential to impede wide adoption, especially in sectors where financial constraints play a crucial role. Therefore, addressing this limitation requires strategic initiatives such as the introduction of cost-effective solutions, the provision of financing options, or collaborative efforts which are aimed at making industrial 3D printing more accessible to a diverse spectrum of businesses.

Recent Developments

• In December 2023, Stratasys Ltd. introduced the F940, a new industrial FDM printer with faster build speeds and improved material compatibility for demanding applications.
• In November 2023, 3D Systems Corporation acquired Cimat, a specialist in metal binder jetting technology, expanding its metal 3D printing portfolio. The company is looking to diversify its metal 3D printing offerings and catering to different technology preferences.
• In October 2023, ExOne partnered with a major aerospace company to develop and implement sand 3D printing for lightweight aircraft components.

• In December 2023, Materialise NV invested in research and development of software solutions for optimizing and automating industrial 3D printing workflows. The aim is to strengthen its software offerings and positioning itself as a complete 3D printing solutions provider.

• In November 2023, EOS GmbH unveiled the EOS M290, a compact and modular metal powder bed fusion system for smaller production runs and prototyping.

Industrial 3D Printing Market

Key Players:

• Stratasys Ltd.
• 3D Systems Corporation
• ExOne
• Materialise NV
• EOS GmbH
• Voxeljet AG
• SLM Solutions Group AG
• HP Inc.
• General Electric Company
• EnvisionTEC
• Renishaw plc
• Desktop Metal
• Protolabs
• Arcam AB
• Carbon, Inc.
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Industrial 3D Printing Market is segmented based on regional analysis into five key regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The North America region will maintain its dominance in the industrial 3D printing market owing to the participation of well-established market leaders, including Stratasys, 3D Systems, GE Additive, ExOne, Protolabs, and HP, which significantly contributes to the leadership of North America in the global market. These companies bring extensive expertise, along with technological innovation and a diverse range of offerings. Moreover, major companies in North America are increasingly turning to 3D printing for product innovation and heavily depend on the capacity of 3D printing technology to use modern designs and efficient manufacturing methods. The adoption of 3D printing enables cost-effective small-batch manufacturing, swift production cycles, and low material wastage, which driving the integration of 3D printing across North America region.

Source: Fatpos Global

Impact of Covid-19 on Industrial 3D Printing Market

COVID-19 pandemic exerted a mixed influence on the industrial 3D printing market. Supply chain disruptions due to global lockdowns presented challenges in procuring essential raw materials and components for 3D printing processes. Additionally, many businesses that were grappling with financial constraints, reduced their expenditure which affected the adoption of advanced technologies such as industrial 3D printing. However, the pandemic presented major opportunities as well. For instance, the urgent demand for medical equipment highlighted the significance of 3D printing in fast prototyping and production. Furthermore, the shift toward digital transformation during the pandemic accelerated the rise of 3D printing as a durable manufacturing method and placed the industry for possible growth in the post-pandemic age.

Industrial 3D Printing Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Industrial 3D Printing Market Scope and Segments:

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