The report "3D Printing Market by Offering (Printer, Material, Software, Service), Process (Binder Jetting, Direct Energy Deposition, Material Extrusion, Material Jetting, Powder Bed Fusion), Application, Vertical, Technology and Region - Global Forecast to 2028" The 3D printing market is estimated to grow from USD 15.0 billion in 2023 to USD 34.5 billion by 2028, at a CAGR of 18.1%. Some key factors attributing to the growth of 3D printers involve ease in developing tailored products, decrease in manufacturing cost and process downtime, government investments in 3D printing projects, and advancements in industrial-grade 3D printing materials.
Services segment is
expected to have second largest share of the 3D printing market in 2023.
The 3D printing services
are broadly classified into two types: after-sales and custom design and
manufacturing. After-sales services include a warranty, maintenance, software,
and training. Custom design and manufacturing services include contract
manufacturing (outsourcing of quick parts or end parts production); design
services; online platform services including content creation tools, cloud or
online printing services, licensing, and others for third parties. Protolabs
(US), Shapeways (US), ARC Group (US), 3D Hubs (Netherlands), and Sculpteo
(France) are some of the 3D printing service providers known to provide
on-demand 3D printing services.
SLA technology is
projected to have second largest share of 3D printing market in 2023.
SLA-based 3D printing is
used to create anatomical models, lightweight concept models, architectural
models, urethane casting patterns, and large investment cast patterns. 3D
Systems (US), Form Labs (US), Autodesk (US), and 3D Ceram (France) are some of
the major companies offering 3D printers based on the SLA technology and
services related to them. SLA is ideal for concept models, form and fit studies,
and investment casting patterns, as the technology provides a high-quality
surface finish.
Healthcare vertical is
projected to have second largest share of 3D printing market in 2023.
Several medical
products, such as surgical equipment, prosthetics, implants, and tissue
engineering, are manufactured through 3D printing technologies. Apart from
these, 3D printing is also used in orthopedic, dental, and craniomaxillofacial
medical applications. New and improved technologies, financial support from the
governments, and rapid product development at low costs are the major drivers
that affect the market. In September 2021, Nexa3D, a developer of ultrafast
polymer 3D printers, partnered with Henkel, a provider of functional polymers,
to manufacture a 3D-printed connected SKOP stethoscope for WeMed company.
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North America to hold
the largest share of 3D printing market in 2023.
North America is
projected to hold the largest share of the 3D printing market during the
forecast period. North America is a highly attractive market for the 3D
printing market for the education vertical. The industry is adopting 3D
printing systems to bring awareness about this new manufacturing method among
students worldwide. 3D printing involves selecting materials based on the application
and technology used to produce a product. In 2022, MakerBot, a 3D printing
provider company, donated the MakerBot SKETCH, MakerBot METHOD X, MakerBot
Replicator 3D printers, and 3D printing materials to several educational
organizations that support underserved and low-income communities across the
US.
Major players operating
in the 3D printing market are Stratasys (US), Materialise (Belgium), 3D Systems
(US), EOS GmbH (Germany), GE (US), Voxeljet (Germany), HP (US), SLM Solutions
(Germany), CleanGreen3D Limited (Ireland), Protolabs (US), Optomec (US), Groupe
Gorgé (France), Ultimaker (The Netherlands), Renishaw (UK), Beijing Tiertime
Technology (China), XYZprinting (Taiwan), Desktop Metal (US), TRUMPF (Germany),
Nano Dimension (Israel), Formlabs (US), Markforged (US), and Carbon (US).
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