3D Printing Market size was valued at USD 20.5 Billion in 2023 and is poised to cross USD 227.3 Billion by the end of 2036, expanding at more than 22.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of 3D printing is evaluated at USD 23.7 Billion.
The construction sector has had exceptional growth in recent times, bolstered by both international investments and driven by elements including population growth, urbanization, and growing infrastructural needs. Construction companies and firms are increasingly adopting 3D printing to produce custom-made parts and structures, as well as for prototyping and testing purposes. As per a recent report, the construction industry of the United States plays a vital role in the growth and shaping of cities and infrastructure. Around USD 1.8 trillion was spent which contributes to 4% to the country’s economy.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
22.2% |
|
Base Year Market Size (2023) |
USD 20.5 Billion |
|
Forecast Year Market Size (2036) |
USD 227.3 Billion |
|
Regional Scope |
|
Technology (FDM, SLA, DLP, SLS, EBM, LOM)
Fused deposition modeling (FDM) segment is poised to hold more than 23% 3D printing market share by 2036 owing to thermoplastic filament through a hot end to print the desired 3D object. The rapid increase in the prototyping technique of FDM drives the 3D printing market during the forecast period as it enables a clean and cost-efficient development for small functional components.
As per a recent report, FDM processes can achieve pore sizes ranging from 160 to 700 microns, with porosities ranging from 48% to 77%. Fused deposition modeling works on a CAD/CAM-based design-specific diagram that is used in an FDM system, this system then sends a design-specific command to the controller’s head, and then ultimately the melted thermoplastic is released.
Component (Hardware, Software, Services)
By 2036, hardware segment is expected to account for around 63% 3D printing market share. The advanced hardware makes it possible for high-precision 3D printing to be applied in a variety of applications. The software component, on the other hand, provides the technology and processes for creating and managing print jobs. Its advanced capabilities allow for more complex designs as well as more efficient processes. According to the latest report, around 2.2 million 3D printer units were shipped in 2021.
End-Users (Aerospace & Aeronautics, Consumer Goods, Automotive, Industrial, Healthcare & Medical Devices)
In 3D printing market, aerospace & aeronautics segment is expected to capture around 33% revenue share by the end of 2036, which makes it a key segment for the rapid creation of prototypes and parts, and providing great savings in time & development costs for the industry which drives the segment growth.
According to the Aerospace Industry Association, in 2021, Aerospace and Defense industry exports increased by 11.2 percent to a total value of USD 100.4 billion. In addition, the 3D Printing is being increasingly applied to create custom-matched organs, implants, and other medical devices in the healthcare sector. With this technology, the industry can provide a more personalized and tailored treatment cost-effectively.
Our in-depth analysis of the 3D printing market includes the following segments:
|
Technology |
|
|
Component |
|
|
End-users |
|
North American Market Statistics
North America in 3D printing market is predicted to dominate over 35% revenue share by 2036, impelled by the growing aerospace and defense (A&D) industry in the region. According to the Aerospace Industries Association, in 2021, the A&D sector had a workforce of more than 2.1 million creating employment in every U.S. state.
The workforce was increased by around 6,000 employees in 2021 which is a 0.3% increase from 2020. The aerospace business, which supplies goods and services including satellites, space launch vehicles, spacecraft, and ground systems for both government and commercial use is one of the biggest in the region.
The growing demand for customized products in different sectors is driving the market of U.S. 3D printing market in the region. For instance, around 49% of customers want personalized and customized product experiences.
The government of Canada has started various initiatives that promote advanced manufacturing, and the regional government has made substantial investments in research and development which is resulting in the growth of the 3D printing market. According to a recent report, Canada has allocated USD 600 million for 3D printing to construct houses cheaper and more sustainable.
APAC Market Analysis
The Asia Pacific 3D Printing market is set to be the second largest, during the forecast timeframe led by the higher adoption of robotics and modern mechanics, this in return raises the demand for 3D printing in the industry.
According to the International Federation of Robotics, Asia has a robot density of 168 units per 10,000 employees in the manufacturing industry. Along with this, developments and upgradation in the manufacturing industry with increasing demand for fab shops in this region that aim to provide a 3D print of the component and several items according to the designs provided by the clients can act as a market’s key to growth in the upcoming years.
China is coming out as a manufacturing center for the automotive and healthcare industries to grow. For instance, annual sales of the automobile sector reached 26.9 million units in 2022 and around 23.6 million units were passenger cars.
Korea has a strong grip on the production of consumer electronics as with growing urbanization, demand for electronics is increasing in a parallel way.
The major players in the 3D printing market are offering a detailed portfolio of demand 3D technology in aerospace, construction, robotics, and others. These companies are developing and delivering high-quality 3D prints across various industries.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?