Post-COVID-19, the
global 3D printing market 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 18.0% during 2019-2025. The market in 2020 is estimated to
experience 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.
Despite the negative
effects of the current pandemic, there are certain COVID-19-specific drivers
that are expected to allow the 3D printing market to grow. The disruption in
the global supply chain has forced companies to look at technologies, which
allow for remote manufacturing capabilities without the need for investment in
large areas, and as such, 3D printing provides this answer. Further to this,
the pandemic has shown the need for companies to maintain digital copies/assets
relating to data for the manufacturing of a component/object. In any case, a 3D
printer bridges the gap by being able to utilize these digital designs to
produce products as and when required.
Printer sales are expected to stagnate in
2020, however, they will pick up 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. There be will be growth in the
following years as 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 a 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. A large volume of printing has taken place
in the first quarter of 2020, however, in most of the cases, the material has
been 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.
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Overall 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 rate 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.
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