3D Printers Market worth $23.9 Billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

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Mar 10, 2022, 08:00 ET

REDDING, Calif., March 10, 2022 /PRNewswire/ -- According to a new market research report titled "3D Printers Market by Type (Industrial, Desktop), Technology (FDM, SLS, SLA, EBM), Material Usage (Metal, Polymer, Ceramics), End-Use Application (Industrial [Consumer Products, Medical, R&D], Service Providers) and Geography - Global Forecast to 2028", published by Meticulous Research®, the 3D printers market is expected to grow at a CAGR of 28.9% from 2021 to 2028 to reach $23.9 billion by 2028.

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3D printers are part of the additive manufacturing process that includes a printing device to print different objects ranging from various shapes and sizes. 3D printers are largely classified under industrial-level 3D printers and desktop-level 3D printers. The industrial level 3D printers are bulky and highly advanced, while desktop 3D printers are compact and less expensive than industrial printers. The major differences between these two printers are in terms of costs, capabilities, and applications. 3D printers are mainly utilized in industrial applications and also by home users for leisure or educational purposes.

Rising demand for manufacturing complex parts, reducing manufacturing expenses and minimizing wastes, and improvements in product developments and supply chains are factors driving the growth of this market. Additionally, the use of 3D printing for functional end-use parts and composite 3D printing offers lucrative opportunities for this market's growth.

However, restrictions in build sizes and the cost of pre-and post-processing are factors that restrain the growth of this market. This market also faces several challenges, including copyright issues and lack of awareness and demand for highly skilled professionals.

Impact of COVID-19 on the 3D Printers market

The pandemic severely impacted several sectors, including the industrial sector, with major manufacturers either shutting down their operations completely or operating at reduced capacities following the directives issued by their respective governments. Uncertainty regarding the duration of the lockdown and supply-chain disruptions made it more difficult for industry players to anticipate the recovery. This crisis caused structural shifts that had significant implications on the market.

The outbreak of the COVID-19 pandemic in 2020 resulted in a mixed impact on the usage of 3D printers across different applications. The 3D printer market was highly affected in terms of professional 3D printing and enterprise 3D printing, including several industrial manufacturers and verticals such as aerospace, automotive, energy, power, and semiconductor and electronics. However, a few of the industries, including research & development and medical, flourished during the period as these industries boosted their production using 3D printers to meet the emergency demand. On the other hand, low-cost 3D printers for designers, hobbyists, and desktop printers recorded higher sales than in 2019. Since numerous executives shifted to a work-from-home model, setting up a desktop 3D printer was easier and more convenient to conduct research operations. Also, there were several instances where hobbyists helped print PPE kits and masks to help the local community.

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Major end-use industries of 3D printers, such as manufacturing, aerospace, defense, electronics, and consumer goods, were severely affected due to disruptions in the supply chain. However, several companies took this as an opportunity and utilized 3D printing service providers to print spare parts, fixtures, joints, and jigs at or near the actual site, which enabled the companies to reduce the cost of transportation, import, and other taxes.

The 3D printers market is segmented based on type, technology, material usage, end-use application, and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Rising Demand for Manufacturing Complex Parts by Reducing Manufacturing Expenses and Minimizing Waste

3D printing methods create parts by adding material layer by layer, enabling engineers and designers to produce parts having geometric complexities and in a single piece which is impossible for traditional methods to produce. Such geometries include hollow cavities within solid parts and parts within parts. 3D printing allows the inclusion of multiple materials into a single object, enabling an array of colors, textures, and mechanical properties to be mixed and matched.

Also, the production of parts only requires the materials needed for the part itself, with little or no wastage compared to alternative methods that are cut from large chunks of non-recyclable materials, thus resulting in high costs and waste. This process saves resources and also reduces the cost of the materials being used. For instance, a respirator manufacturer that used injection molding to produce tubes for ventilation products previously used additive manufacturing to print tubes. 3D printing tubes with particular geometries were found to be not only cheaper but faster as well. Using an Origin 3D printer in combination with Henkel LOCTITE silicone resin, the company managed to cut production costs by approximately ten times. The U.S. Air Force also used 3D printing to cut down turnaround time and cost of manufacturing spare parts. Numerous planes were out of production, and spare part delivery could have taken more than a year. With 3D printing, the acquisition time for these parts was reduced from a year to 2 days. As this technology reduces the amount of material wastage, this process is inherently environmentally friendly. However, the environmental benefits are extended when factors such as improved fuel efficiency from lightweight 3D printed parts are considered. 3D printing creates parts from scratch, and lower materials are wasted when manufacturing a complex geometry, which leads to less time in the machine and lower production costs.

Meticulous Research^® has segmented this market based on type (industrial 3D printers, desktop 3D printers), technology (fused deposition modeling [FDM], selective laser sintering [SLS], stereolithography [SLA], direct metal laser sintering [DMLS], polyjet, multijet fusion [MJF], digital light processing [DLP], binder jetting, electron-beam melting [EBM], directed energy deposition [DED], laser metal fusion [LMF], selective absorption fusion [SAF], and LCD 3D printing), material usage (metal, polymer, ceramics, composites, resins, and other materials), end-use applications (industrial [aerospace & defense, automotive, consumer products, semiconductor & electronics, chemical & materials, medical, energy, research & development, oil & gas, and industrial applications], 3D printing service providers), and geography (North America, Europe, Asia-Pacific, and Rest of the World).

Based on type, the desktop 3D printer segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment is mainly attributed to the rising adoption of compact and advanced desktop printers after the emergence of the COVID-19 pandemic. Several users, including 3D printing enthusiasts, hobbyists, and small manufacturers, have utilized desktop 3D printers, contributing to the high market growth of this segment.

Based on technology, the electron-beam melting (EBM) segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to its advanced 3D printing method to produce low-cost and efficient metal parts for high-end prototyping and small series production.

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Based on material usage, the ceramic segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is mainly attributed to the rapid usage of ceramic for manufacturing 3D-printed ceramic decorative items such as vases, bowls, and sculptures. Additionally, the use of ceramics has also gained popularity in the electronics and semiconductor industry and can be used to print desired shapes from a mixture of powder with or without binders.

Based on end-use applications, the medical segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is mainly attributed to the growing demand for personalized and complex surgical instruments and precision medicine. 3D printers are also used in the medical sector for applications ranging from surgical planning models to 3D-printed vasculature and bioreactors.

Based on geography, the global 3D printers market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific region is expected to witness the fastest growth during the forecast period. The high growth rate of this region is primarily attributed to the rapid developments in the manufacturing sector in the region with growing interests in new technologies for efficient production. Additionally, increased digitization has fueled the growth and adoption of 3D printers for end-use industries such as consumer goods, construction, medical, electronics and semiconductor, and research and education.

Countries such as China, India, Japan, Malaysia, South Korea, Thailand, and Singapore are some of the largest economies in this region, with a huge potential for the 3D printers market due to the rapid increase in industrialization. China is among the leading nations with high production capacities of 3D printers and higher usage as well. During the COVID-19 pandemic, there has been higher adoption of 3D printers in the medical industry, which accelerated the utilization of 3D printers in the region.

In Asia-Pacific region, China is expected to account for the largest share of the 3D printers market in 2021. The market growth is mainly attributed to the high adoption rate of 3D printers for professional and industrial applications. Also, rapid urbanization plays a major role in driving the 3D printers market in China.

The global 3D printers market is dominated by the top five players. The five key players in this market are Stratasys Ltd. (Israel), EOS GmbH (Germany), GE Additive (U.S.), HP Inc. (U.S.), and 3D Systems Corporation (U.S.).

Browse in-depth TOC on "3D Printers Market - Global Opportunity Analysis And Industry Forecast (2021-2028)"
272 – Tables
33 – Figures
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Scope of the Report

3D Printers Market, by Type

Industrial 3D Printer
Desktop 3D Printer

3D Printers Market, by Technology

Fused Deposition Modeling (FDM)
Selective Laser Sintering (SLS)
Stereolithography (SLA)
Direct Metal Laser Sintering (DMLS)
PolyJet
MultiJet Fusion (MJF)
Digital Light Processing (DLP)
Binder Jetting
Electron-Beam Melting (EBM)
Directed Energy Deposition (DED)
Laser Metal Fusion (LMF)
Selective Absorption Fusion (SAF)
LCD 3D Printing

3D Printers Market, by Material Usage

Metal
Polymer
Ceramics
Composites
Resin
Other Materials

3D Printers Market, by End-Use Application

Industrial

Aerospace & Defense

Mounts & Fixtures
Body & Spare Parts
Weapon Printing
Prototype and Test Unit

Automotive

Prototyping
Custom & Spare Parts
Mounts & Fixtures

Consumer Products

Electronic Products
Jewelry & Luxury Goods
Decorative Arts
Parts & Fixtures

Semiconductor & Electronics

IC & PCB
Electronic Components

Chemical & Materials
Medical

Dental
Instrument Printing
Bio printing Tissues and Organs
Prototype and 3D Models
Prosthetic Printing

Energy
Research & Development
Oil & Gas
Industrial Applications

Machinery & Equipment Manufacturing
Molds & Tools Printing
Parts & Prototype Printing

3D Printing Service Providers

3D Printers Market, by Geography

North America

U.S.
Canada

Asia-Pacific

China
India
Japan
South Korea
Rest of Asia-Pacific

Europe

Germany
France
The U.K.
Italy
Spain
Russia
Rest of Europe (RoE)

Rest of the World

Middle East & Africa
Latin America

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