The Report "COVID-19
Impact on 3D Printing Market by Offering (Service, Printer, Material,
and Software) - Global Forecast to 2025" Post-COVID-19, the
global 3D printing market size is estimated to grow from USD 11.4 billion in
2020 to USD 30.2 billion by 2025; it is expected to grow at a CAGR of 18% from
2019 to 2025. The market in 2020 is estimated to witness a drop of more than
19% in comparison to the pre-COVID 2020 estimates. A key reason for this is
that although the operation of 3D printers is expected to be high in 2020, most
of the activities for which the printers/services are being employed are being
done free of cost during this time of need.
Factors that will
drive the post-COVID-19 3D printing market growth include the need for 3D
printing to provide aid to the disrupted supply chain, move by companies to
increase the variety and range of products to be printed in the long term, and
companies moving toward creating a digital inventory. In the long term,
companies will have to start adopting new strategies, making radical changes to
ensure that they are not in a situation, which is similar to what they are
facing currently as a result of a possible future pandemic/disaster. As such,
3D printing forms an integral part of digitization plans in organizations,
which will now fastrack in the coming years to regain momentum.
Printer sales are expected to stagnate in 2020
and pickup again during forecast period showing healthy double-digit growth
rates
The 3D printing
market will continue to generate revenue in 2020 although not as much as
initially estimated before the pandemic. The losses of the first half of the
year are expected to be compensated to a certain extent by the revenue
generated in the second half of the year. Growth in the following years will be
a result of backlog orders across all end-user industries as well as sales from
new customers who previously had not thought of employing 3D printers until the
pandemic had portrayed the benefits.
Material sales will follow similar trend to
that of printers with players in future investing more on emerging material
types
The revenue
generated from the sales of materials for 3D printers would be following a similar
trend as that of printers. Large volumes of printing may be taking place in the
first quarter of 2020, however, in most of cases, the materials are being
provided free of cost. There will be a focus on the use of emerging materials
for printing during the forecast period, however, the benefits of the same will
start to emerge after the forecast period.
Global 3D printing market will continue to be
resilient during and post COVID-19 pandemic
The overall 3D
printing market will witness a contraction in potential revenue that could be
generated. For example, the drop in anticipated revenue for 2025 is expected to
be USD 6.3, however, this is far better than what many other industries would
be witnessing now as a result of the various implications of COVID-19. The
encouraging fact for the 3D printing industry, however, is that the return to
double-digit growth rates is expected to take place as early as next year,
which is especially attractive for new players planning on entering the market
in the next few years.
3D HUBS, 3D Printing
Ally, 3D Systems, Craftcloud, Formlabs, Materialise, Origin, SLM Solutions
Group, Stratasys Ltd, and Tinkerine are a few of the industry participants
present in the 3D printing market.
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