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3D Printing Market to Exhibit a CAGR of 24.0% by 2028; Partnership of Ditto Eyeglasses and Materialise NV to Incite Business Development

July 14, 2021 | Information & Technology

The global 3D printing market size is expected to reach USD 68.71 billion by 2028, exhibiting a CAGR of 24.0% between 2021 and 2028. The growing acceptance of advanced technologies such as Industry 4.0, Smart Factories, Robotics, machine learning, and others will have a tremendous impact on the market growth, mentioned in a report, titled “3D Printing Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, Services), By Technology (FDM, SLS, SLA, DMLS/SLM, Poly jet, Multi Jet Fusion, DLP, Binder Jetting, EBM, CLIP/CDLP, SDL, LOM), By Application (Prototyping, Production, Proof of Concept, Others), By End User (Automotive, Aerospace, and Defense, Healthcare, Architecture and Construction, Consumer Products, Education, Others) and Regional Forecast, 2021-2028.” The market size stood at USD 12.57 billion in 2020.


Market participants all across the world have been compelled to cut their administrative costs as a result of the coronavirus crisis. Companies’ investments in new 3D printing technologies are expected to be limited as a result of lower operating expenses. This might have an influence on the expansion of the market. However, following COVID 19, manufacturers will prioritize 3D type of printing technology above other innovations such as robots, 5G, digital security, and artificial intelligence, among others. This indicates that businesses' increased expenditures in technology would likely boost 3D printing market growth in the foreseeable future.


Announcement of Innovative 3D Electronics Printer by Optomec to Augment Growth


Optomec, a Major provider of printing technology, has delivered an industrialized 3D Printed Electronics system to a large US medical company that will employ the equipment to mass-produce leading computerized imaging equipment. The strategic benefit is a $1 million contract that calls for highly sophisticated capability and industrial processes. The early request will use Aerosol Jet to directly print multi-layer 3D circuitry onto a structural component, replacing laborious integration of flex circuits." In comparison to previous approaches, this Additive Manufacturing methodology will bring cost savings and higher yield, and enhanced flexibility for next-generation designs. The new development of Optomec will spur opportunities for the market, as the new machine is ideally equipped for dealing with a diverse variety of medical device applications. Moreover, the Aerosol Jet technique can print conductive, insulating, adhesive, and biological materials in 3D space with dimensions as tiny as 10um at its core.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/3d-printing-market-101902


Governments' Significant Investments to Promote Market Growth


In modern industrial technology, several nations throughout the world are facing huge digital disruptions. However, the heavy investments by governments in 3D type of printing technology will uplift the market share in the foreseeable future.  The Canadian government awarded the University of Waterloo USD 8.9 million in May 2017 to establish a 3D printing lab to speed up additive manufacturing processes. This demonstrates that governments are well-versed in the benefits and advantages of this equipment and, as a result, are focused on making a significant investment in the technology. Similarly, Korea has developed an autonomous roadmap for 3D printing research and development and gives state assistance to carry it out. To boost its adoption, the Korean government is proposing financial incentives and speeding up industry regulatory agreements.


Companies focus on Partnership and Collaboration Activities to Consolidate Business


The market's leading competitors are concentrating on providing improved and new solutions to meet the rising demands of industries. These major firms are putting money into R&D in order to deliver cutting-edge services and materials. They've formed a strategic relationship and are working together to develop next-generation 3D printing products. These businesses provide consumer-focused solutions to aid in business growth. Similarly, the major firms are eager to provide a diverse range of materials that may be used in various industries.


Key Development:



  • September 2020: Materialise NV has announced a collaboration with Ditto Eyeglasses to create a virtual eyewear try-on platform. The firms hope to provide clients with a personalized shopping experience by supplying 3D printed frames as part of their relationship.

  • June 2020: 3D Systems Inc. has stated that its plastics materials offering would be expanded to provide a broader range of applications. The new product should be suited for a wide range of industrial applications.


The Report Lists the Key Companies in the Global Market:



  • 3D Systems Corporation (Carolina, United States)

  • The ExOne Company (Gersthofen, Germany)

  • voxeljet AG (Friedberg, Germany)

  • Materialise NV (Leuven, Belgium)

  • Hoganas Holding AB (Skane, Sweden)

  • Optomec, Inc. (New Mexico, United States)

  • Made in Space, Inc. (Carolina, United States)

  • Envisiontec, Inc. (Gladbeck, Germany)

  • Stratasys Ltd. (Minnesota, US)

  • HP, Inc. (Carolina, United States)

  • General Electric Company (GE Additive) (Massachusetts, United States)

  • Autodesk Inc. (Carolina, United States)


Further Report Findings:



  • Regional Insights: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the five key areas in which the market is divided. The market in North America is expected to hold the largest share during the forecast period due to the rising expenditure on advanced manufacturing technologies by developed countries such as Canada and the United States. Europe is expected to account for the second-highest market share due to the demand for this advanced technology in medium-sized industries.

  • Leading Segment: Based on technology, the market is classified into FDM, SLS, SLA, DMLS/SLM, Polyjet, Multi Jet Fusion, DLP, Binder Jetting, EBM, CLIP/CDLP, SDL, and LOM. Fused Deposition Modeling (FDM) technology accounted for the largest share during the forecast period. FDM technology is used in the creation of durable, strong, and dimensionally stable parts.


The global Market is Segmented into:






















































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Billion)



Segmentation



  Component; Technology; Application; End User; and Region



By Component




  • Hardware

  • Software

  • Services



By Technology




  • FDM

  • SLS

  • SLA

  • DMLS/SLM

  • Polyjet

  • Multi Jet Fusion

  • DLP

  • Binder Jetting

  • EBM

  • CLIP/CDLP

  • SDL

  • LOM



By Application




  • Prototyping

  • Production

  • Proof of Concept

  • Others



By End-User




  • Automotive

  • Aerospace and Defense

  • Healthcare

  • Architecture and Construction

  • Consumer Products

  • Education

  • Others



By Region




  • North America (By Component; By Technology; By Application; By End User; and By Country)

    • United States

    • Canada



  • Europe (By Component; By Technology; By Application; By End User; and By Country)

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe





  • Asia Pacific (By Component; By Technology; By Application; By End User; and By Country)


    • China

    • Japan

    • India

    • Southeast Asia






    • Rest of Asia Pacific



  • The Middle East & Africa (By Component; By Technology; By Application; By End User; and By Country)

    • GCC

    • South Africa

    • Rest of the Middle East & Africa



  • Latin America (By Component; By Technology; By Application; By End User; and By Country)

    • Brazil

    • Mexico

    • Rest of Latin America




3D Printing Market
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  • 2020
  • 2017-2019
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