3D printing market size and trend forecast report: 2021 – 2028
A survey report from grand view research analyzes ,the overall market scale and future development trend for different categories of 3D printing industry, components, printer types (desktop / industry), technology, software, applications, vertical, materials, regions and other market segments, and predicts the 3D printing market trend from 2021 to 2028.
The report points out that the global 3D printing market will reach US $13.78 billion in 2020, It is expected to grow at a compound annual growth rate (CAGR) of 21.0% from 2021 to 2028. The global shipment of 2.1 million 3D printers in 2020 is expected to reach 15.3 million by 2028. The R&D of 3D printing (3DP) and the growing demand for prototype applications in various vertical industries (especially healthcare, automotive, aerospace and national defense) are expected to drive market growth.
△2017-2028 North American market 3D printing technology trend
3D printing industrial applications involve adding materials layer by layer in software and 3D printers to form 3D objects, and performing this process in different vertical industries as needed. The whole process includes providing installation services, consulting and customer support, as well as dealing with aspects related to copyright, licensing and patents. 3D printing benefits manufacturers in prototyping, structure and final product design, modeling and time to market. Finally, the production cost is greatly reduced, and the manufacturer can provide better products at a reasonable price. Because of these benefits, the report predicts that the market demand for 3D printers will increase in the next few years.
△Scope of 3D printing Market Report
However, the widespread misunderstanding of the prototyping process by small and medium-sized manufacturers is hindering the adoption of additive manufacturing. Companies involved in design, especially small and medium-sized enterprises, are still hesitant to invest in prototyping, rather than trying to understand the advantages and benefits of prototyping. These enterprises generally believe that prototyping is only an expensive stage before manufacturing. This view, coupled with factors such as lack of technical knowledge and lack of standard process control, is expected to hinder market growth.
△3D printing Market: value chain analysis
The outbreak of COVID-19 has a major impact on the global economy as well as the subsequent 3D printing industry. Due to the rapid spread of the virus, governments around the world issued orders to completely block some key cities, affecting the production of 3D printing manufacturers. At the same time, labor shortage and logistics and supply chain disruption also hindered 3D printing production and overall market growth in the first and second quarters of 2020.
Printer aspect
3D printers lead the market, accounting for more than 76% of global revenue in 2020. According to the printer type, the industry is further subdivided into industrial 3D printer and desktop 3D printer. Desktop and industrial 3D printer segments are further divided into hardware, software and services.
△Estimate and forecast of global hardware 3D printing market from 2016 to 2027 (USD million)
Industrial printers have a high share of revenue due to their wide applications in heavy industry, such as automobile, electronics, aerospace, national defense and health care. Prototyping, design and tools are some of the most common industrial applications in these vertical industries, and are constantly promoting the growth of demand in the industrial sector. Therefore, the report expects the industrial printer sector to continue to dominate during the forecast period.
△Market estimates and forecasts for desktop 3D printers, 2016-2027 ($million)
On the other hand, desktop 3D printers were initially used only in enthusiasts and small businesses. Today, however, they are increasingly used in the education sector, including families, schools, educational institutions and universities, and in technical training and research. Small businesses especially favor desktop printers, diversify their business operations, and provide 3D printing and other related services. For example, the concept of "fabshops" is becoming more and more popular in the United States. These fabshops provide on-demand 3D printing of parts and components according to customer design and requirements. Therefore, the report predicts that the demand for desktop printers will increase significantly during the forecast period.
Technical aspects
In terms of technology, stereolithography is a leading market segment, accounting for more than 10% of global revenue in 2020. The technology-based market segments include stereolithography (SLA), melt deposition molding (FDM), direct metal laser sintering (DMLS), selective laser sintering (SLS), inkjet, polyjet, laser metal deposition (LMD), electron beam melting (EBM), digital light processing (DLP), laminated object manufacturing (LOM), etc.
△Estimation and forecast of 3D printing market by technology from 2019 to 2027 (USD million)
At present, stereolithography occupies the largest share because it is one of the most traditional printing technologies. Compared with other technologies in additive manufacturing process, the stereolithography segment will account for about 11% in 2020. Although the advantages and ease of operation of stereolithography technology are expanding the adoption rate of this technology, the technological progress and active R & D activities of industry experts and researchers provide opportunities for several other efficient and reliable technologies.
△3D printing market estimation and forecast of stereolithography technology from 2016 to 2027 (USD million)
Due to its application in various processes, FDM also accounts for a considerable share of revenue. DLP, EBM, inkjet printing and DMLS are also expected to be increasingly adopted because these technologies are suitable for professional additive manufacturing processes. The increasing demand of vertical industries such as aerospace, defense, healthcare and automobile will create opportunities for these technologies.
Software aspect
The report points out that in 2020, the design software sector accounted for more than 36% of global revenue, leading the 3D printing market. The market segments of 3D printing software include design software, detection software, printer software, scanning software, etc. Design software is used to build the design scheme of the object to be printed, especially in the fields of automobile, aerospace, national defense, architecture and engineering. Design software is the bridge between print objects and printer hardware, so it will occupy the largest share in 2020 and is expected to continue to dominate the market.
△Estimation and forecast of design software 3D printing market in 2016-2027 (USD million)
△Prototyping 3D printing market estimates and forecasts, 2016-2027 (USD million)
△Estimation and forecast of global polymer 3D printing market from 2016 to 2027 (USD million)
△Percentage of global 3D printing market share by component in 2020
△3D printing market, component revenue change analysis, 2019 and 2027