The 3D Printing Market is expected to reach USD 5.78 Billion by 2026, according to a new report by Reports and Data. Accelerated prototyping is being broadly accepted as a technology for product design, prototyping, product sampling, and concept modeling to the final steps of manufacturing, thereby increasing the growth of the 3D Printing market. 3D printing is considered as one of the significant disruptive technologies of this century, shifting from prototyping to a potential production process across several industries. 3D printing is anticipated to have a positive influence on several end-use industries, such as automotive, healthcare, aerospace defense, and consumer goods.
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The market in the North America region accounts for the largest share of 31.3% of the market in 2018. The presence of large organized players in this region contributes to the large share. These organizations are stimulating their attempts to be in line with market trends. Metal powder producers and suppliers are spending in capacity developments to match the growing demand from their end-users.
The Key players in the 3D Printing Market include:
General Electric, Arkema S.A., Höganäs AB, D Systems Corporation, The Exone Company, Royal Dsm N.V., Stratasys, Ltd., EOS GmbH Electro Optical Systems, Sandvik AB, Materialise NV, Evonik Industries AG.
Market Overview:
Demand for innovative materials is driven by transformations in the energy, automotive, logistics, manufacturing, construction, and other industries, as well as growing industry 4.0 technologies. Sustainability, lightweighting, 3D printing, and surface engineering are all hot topics in the materials sector, as are intelligent materials, nano-formulations, and new composites with improved properties. Furthermore, increased adoption of artificial intelligence (AI), machine learning (ML), and data management strategies encourages scientists to investigate and develop novel materials considerably more quickly, reducing time-to-market from decades to only a few years.
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Further key findings from the report suggest
- The 3D Printing Market is estimated to reach USD 5.78 Billion by 2026, at a CAGR of 21.7% during the forecast period.
- The 3D filament form segment accounts for the largest share of 33.8% of the market in 2018.
- The ceramic product type is anticipated to grow at the highest rate of 22.2% during the forecast period.
- The automotive end user segment is anticipated to grow at the highest rate of 22.0% during the forecast period.
- Growing automotive production and sales, along with strong 3D printing demand in the automotive industry, especially for personal vehicles, will drive the overall business shortly.
- Increasing consumer demand for improving the vehicles aesthetic appearance by printing is the primary factor spurring the demand.
- Consumer electronics and automotive are expected to dominate the 3D Printing market, as these industries use 3D printing technology for more than just prototyping, in order to manufacture components with 3D methods. The medical industry is expected to have the third-largest 3D Printing market, where it will be used to manufacture mass customized finished goods, such as hearing aids.
- Metal powder producers and suppliers are spending in capacity developments to match the growing demand from their end-users.
- Asia Pacific is expected to be the fastest growing region and is forecasted to witness the highest CAGR of 22.1% during the forecast period.
- The 3D Printing market is anticipated to witness an increasing demand from India, China, and other countries of the Asia Pacific region. The augmentation of consumer products, automotive, healthcare, and other enterprises across the countries in the region will facilitate the market to achieve momentum during the forecast period.
- The market in this region is forecasted to witness an escalating demand for polymers due to the rising demand for desktop printers.
- Various players are developing strategies to mark their presence in the industry.
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For the purpose of this study, Reports and Data have segmented the market on the basis of Form, Product Type, End Users, Application, and region:
Product Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Plastic
- Metal
- Ceramic
End Users Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Consumer electronics
- Automotive
- Medical
- Industrial
- Others
Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Manufacturing
- Prototyping
- Others
Regional Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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