3D printing, also known as additive printing technology, allows manufacturers to develop objects using a digital file and variety of printing materials. The materials used in 3D printing include various types of polymers, metals, and ceramics and similar others. 3D printing offers methodologies that make manufacturing of complex designs an apparent reality. Widespread applications of 3D printing, and the potential prospects of 3D printing in diverse fields would fuel the market growth. The factors driving this market are reduction of errors, high degree of accuracy, efficient use of raw materials, ability to build customized products, simultaneous use of multiple materials for printing, and competency over traditional techniques. On the contrary, high production cost to individual users, expensive 3D printing software, lack of channel partner assistance, and scarcity of skilled labors are some of the key restraining factors for the global 3D printing market. The global 3D printing market is in the progressive phase of its life cycle, valued at $2,811.8 million in 2014, and is anticipated to reach $8,683.7 million by 2020, growing at a CAGR of 21% during 2015 -2020.
World 3D printing market is segmented on the basis of components, application and geography. The components segments is further classified as technology, materials and services. Based on technology, 3D printing market is segmented into stereolithography, selective laser sintering, electron beam melting, fused deposition modeling, laminated object manufacturing and others. These technologies follow additive manufacturing process in which model is built by adding successive layers of material. Among these technologies, stereolithography is expected to play the most prominent role as it has revolutionized the speed and techniques of designing and manufacturing objects, which has benefited various industries significantly. Based on the input materials, the 3D printing material market is segmented into polymers, metals and alloys, ceramic and others. Polymers are the most extensively used 3D printing material in the current scenario. The 3D printing services market includes application development, installation, and maintenance services.
3D printing has a wide array of applications in various industries, namely consumer products, industrial products, aerospace, defense, automotive, healthcare, education & research and others. Among these industries, consumer products, followed by automotive are expected to be the largest revenue generating sectors. 3D printing is widely used for developing consumer products such as toys, shoes, electronic products, bottles, containers, dishware, mobile phone cases, jewelry, ceramics and similar others.
Based on geography, the market is segmented into North America, Asia-Pacific, Europe and LAMEA (Latin America, Middle East and Africa). North America and Europe are the most prominent markets for 3D printing due to their rapid technological adoption, constant research and development in various industries, and the dominant economic status.
Leading players profiled in the report include 3D Systems, Arcam AB, Autodesk, Inc., Stratasys Ltd, ExOne, and others. These major market players are chiefly concentrating on development of technology, launching products with new variations, and partnership & collaboration to remain competitive in the market.
The global 3D printing market is categorized into three segments, namely components, applications and geography.
MARKET BY COMPONENTS
MARKET BY APPLICATION
MARKET BY GEOGRAPHY
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