Binder Jet Market Analysis

Component (Hardware, Software, Service Material)

The hardware segment is expected to hold 50% share of the global binder jet market during the forecast period. Rapid prototyping and enhanced production methods have become increasingly important, and this has greatly helped the hardware sector. The main factors driving the expansion of the hardware industry include increasing industrialization, growing consumer electronics penetration, developing civil infrastructure, rapid urbanization, and reduced labor costs. Desktop 3D printers first used by small businesses and researchers are being more and more utilized for domestic and personal purposes, which makes them a transportable category for global binder jet industry participants. Annually, consumers spend more than USD 8722 on 3D printing, with over 23% spending close to USD 87227. More than 68% of businesses that use 3D printing do so for pre-series manufacturing and prototyping. It is anticipated that the growing trend of creating small-scale enterprises for these services would encourage category expansion.

End-Use (Healthcare, Automotive, Aerospace & Defense)

The automotive segment in the binder jet market is anticipated to hold the largest revenue share of about 42% during the forecast period. The growth of the market is due to increasing demand for customization in the automotive sector. Numerical control manufacturing is best suited for large-scale production and highly customized automotive parts. Custom auto parts can be produced with the help of binder jetting services. Customers can customize it to their preferences. Many automakers utilize binder jetting for serial item production and customization.

Our in-depth analysis of the global market includes the following segments: