3D Printing Market Size, Share & Industry Growth Analysis Report by Offering (Printer, Material, Software, Service), Process (Binder Jetting, Direct Energy Deposition, Material Extrusion, Material Jetting, Powder Bed Fusion), Application, Vertical, Technology and Region - Global Growth Driver and Industry Forecast to 2028
[296 Pages Report] The global 3D printing market in terms of revenue was estimated to be worth USD 15.0 billion in 2023 and is poised to reach USD 34.5 billion by 2028, growing at a CAGR of 18.1% from 2023 to 2028. The new research study consists of an industry trend analysis of the market.
Effortlessness in development of tailored products, reduction in manufacturing cost and process downtime, government investment in additive manufacturing-based projects globally, and availability of wide variety of industrial-grade 3D printing materials are the few driving factors for the growth of 3D printing industry.
3D Printing Market Forecast to 2028
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3D Printing Market Dynamics
Driver: Global government investment in 3D printing projects
Globally, governments are undertaking initiatives and funding educational institutions, research centers, and research and technology organizations to explore further the opportunities provided by 3D printing technology and encourage its development. The US, the UK, and Canada have implemented national programs for promoting university-level 3D printing research, driving technology advancement and the establishment of start-ups. The emergence of new applications for 3D printing has attracted industrialists and governments worldwide toward the technology. For instance, the UK National Strategy for Additive Manufacturing 2018–2025 aims to achieve EUR 3,500 million gross value added (GVA) per year by 2025 and 60,000 jobs across sectors. The strategy depicts a full set of recommendations developed by workgroups responsible for certain themes.
Restraint: Lack of standardized testing methods to verify mechanical properties of 3D printing materials and high cost of raw materials
More raw materials are available for traditional manufacturing than for 3D printing-based manufacturing processes. 3D printing of products with mixed materials and technology, such as circuit boards, is still under development. Though the technology is a major process breakthrough, the materials that can be used are still limited. Also, the accuracy and reproducibility of the products formed by 3D printing are hampered due to the lack of standardized tests to verify the mechanical properties (strength, toughness, stiffness, and hardness) of the materials used. Another concern is characterizing material properties depending on their suitability in 3D printing. Various available materials have characteristic mechanical properties, porosity, powder composition, particle homogeneity, size, and morphology. Therefore, material characterization and standardization for 3D printing are some of the important issues.
Opportunity: Emerging applications of 3D printing technology in automotive, printed electronics, jewelry, and education fields
3D printing technology is increasingly adopted in industrial manufacturing, especially in the automotive, aerospace, and defense industries. 3D printing has potential opportunities in tooling, jigs and fixtures, injection molding, and production parts manufacturing. 3D printing technology is in an early stage of development across several sectors, such as printed electronics, textiles, footwear, and food and culinary; however, it is experiencing significant adoption from the education, art and architecture, and jewellery industries. The market has been experiencing the advancement of printers and printing technologies, improvement in printing materials, and the development of a skilled workforce. The advancements in printing technology, design tools, software, materials, and printed electronics will allow electronics to be embedded within the structure of the products instead of mounting the printed circuit boards (PCBs) separately within the device. 3D printing finds potential opportunities to eliminate PCBs and produce hearing aids, structural electronics, print sensors, cell phone antennae, batteries, solar cells, light-emitting diodes, and other active and passive devices.
Challenge: Decline in sales of 3D printing devices due to recession impact
During a recession, companies and individuals may reduce their spending on non-essential items such as 3D printers, which could decrease the demand for 3D-printed products. Companies using 3D printers may delay their plans to adopt newer technologies due to financial uncertainty, which could slow down the growth of the 3D printing market. Established players in the 3D printing market may witness a decline in their annual revenues at the end of FY2023 due to the recession. Customers from emerging markets will be looking for low-cost 3D printers, which could increase the competition among established players.
3D Printing Ecosystem
3D Printing Market Segment Overview
Service segment is expected to grow at highest CAGR during the forecast period
With the advancement in printing technology and materials, the 3D printing service sector is garnering significant traction as a source of profit generation compared to the sales of printers and materials.
As the 3D printing technology facilitates manufacturing products with complex geometries and offers competitive pricing compared to traditional manufacturing methods, several companies across several industries are expected to outsource everything, from design to production of customized products, to sustain in the highly competitive markets. As a result, the market for 3D printing services is expected to witness the highest growth rate in the near future.
SLS technology is expected to grow at highest CAGR during the forecast period
Selective laser sintering is the mostly preferred additive manufacturing technology for industrial applications. It is reliable to use due its ability to produce strong, functional parts and hence engineers and manufacturers across different industries prefer this technology.SLS 3D printers comprise of a high-powered laser to fuse small particles of polymer powder. The rising adoption of 3D printing to manufacture functional parts drives market growth.
Functional part manufacturing application is expected to grow at highest CAGR during the forecast period
The rising adoption of 3D printing for end-use part production in various industries drives the functional part manufacturing market growth. 3D printing is becoming a sustainable manufacturing option for certain medium-size production runs, predominantly in areas such as motorsports and luxury vehicles, where production numbers are lower than average.
With over 1 million parts 3D printed in the last decade, BMW is one of the early adopters of 3D printing components. BMW has effectively utilized 3D printing to develop a metal fixture for company’s i8 Roadster model. Also, the rising adoption of 3D printing for end-use product manufacturing in consumer product verticals provides an opportunity for the market.
Automotive is expected to grow at highest CAGR during the forecast period
The automotive vertical is likely to be the fastest-growing vertical in the 3D printing market. The automotive industry has also shifted from using 3D printing for prototyping applications to manufacturing final components and products. The demand for newer, better-performing vehicles and the need to optimize production and streamline supply chains and logistics drive the growth of the market.
Plastics are generally used in prototyping, while metals and special plastics are used to manufacture automotive end parts. The automotive vertical offers a huge potential market for 3D printing in the tooling segment, as a huge gap exists between tooling and automobile production. The number of new model vehicles being launched is increasing yearly, with the growing complexity of the parts involved in these vehicles.
3D printing market in Asia Pacific is expected to foresee the highest CAGR during the forecast period
The Asia Pacific region is expected to foresee the highest growth of 3D printing solutions during the forecast period. The region has witnessed a significant shift toward prototyping and advanced manufacturing using 3D printing. Government initiatives coupled with extensive research and development capabilities and foreign direct investment (FDI) have accelerated the growth of the market in this region. Technological advancements in China are another important driving factor for the market. China is one of the largest manufacturers of consumer devices and automotive vehicles.
3D Printing Market by Region
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Top 3D Printing Companies - Key Market Players
Major 3D printing companies are include Stratasys (US), 3D Systems (US), Materialise (Belgium), EOS GmbH (Germany), GE (US), Voxeljet (Germany), HP (US), SLM Solutions (Germany), CleanGreen3D Limited (Ireland), Protolabs (US), Optomec (US), Groupe Gorgé (France), Ultimaker (The Netherlands), Renishaw (UK), Beijing Tiertime Technology (China), XYZprinting (Taiwan), Höganäs (Sweden), Covestro (Royal DSM) (Germany), Desktop Metal (US), TRUMPF (Germany), Nano Dimension (Israel), Formlabs (US), Markforged (US), and Carbon (US).
3D Printing Market Report Scope
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Report Metric |
Details |
| Estimated Value | USD 15.0 billion in 2023 |
| Projected Value | USD 34.5 billion by 2028 |
| Growth Rate | CAGR of 18.1% |
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Market size available for years |
2019—2028 |
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Base year |
2022 |
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Forecast period |
2023—2028 |
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Units |
Value (USD Million/USD Billion) |
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Segments covered |
Offering, Technology, Process, Application, and Vertical |
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Geographic regions covered |
North America, Europe, Asia Pacific, and RoW |
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Companies covered |
Stratasys (US), 3D Systems (US), EOS GmbH (Germany), Materialise (Belgium), GE (US), Voxeljet (Germany), HP (US), SLM Solutions (Germany), CleanGreen3D Limited (Ireland), Protolabs (US), Optomec (US), Groupe Gorgé (France), Ultimaker (The Netherlands), Renishaw (UK), Beijing Tiertime Technology (China), and XYZprinting (Taiwan) among others |
3D Printing Market Highlights
The study categorizes the 3D printing market based on offering, technology, process, application, vertical and region.
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Segment |
Subsegment |
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By Offering: |
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By Process |
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By Technology |
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By Application |
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By Vertical |
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By Region |
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Recent Developments in 3D Printing Industry
- In March 2023, Materialise collaborated with Exactech, which is a developer of innovative instrumentation, implants, and other smart technologies for joint replacement surgery, to provide advanced treatment alternatives for patients with severe shoulder defects.
- In February 2023, Stratasys collaborated with Ricoh USA, Inc. to offer on-demand 3D-printed anatomic models for clinical settings. Under this agreement, Stratasys’ patient-specific 3D solutions integrated with its 3D printing technology; the cloud-based segmentation-as-a-service solution from Axial3D, a medical technology manufacturer; and precision additive manufacturing services from Ricoh combined to develop a single, convenient solution.
- In February 2023, Desktop Metal launched Einstein Pro XL, an affordable, high-accuracy, high-throughput 3D printer ideal for dental labs, orthodontists, and other medical device manufacturers.
- In December 2022, voxeljet developed ULAS-E-VAN (UltraLeicht AufbauStruktur eines Elektrischen VANs– UltraLightweight Body Structure of an Electric VAN); nine partners are developing lightweight solutions for the body structure and a modular battery carrier system of battery-electric powered light commercial vehicles.
- In October 2022, Stratasys acquired Riven, a quality assurance software company and California-based startup. This acquisition has been made to integrate Riven’s cloud-based software solution into Stratasys’ GrabCAD Additive Manufacturing Platform, benefiting customers using any Stratasys 3D printer running GrabCAD Print software.
Frequently Asked Questions (FAQ):
Which are the major companies in 3D printing market? What are the major strategies to strengthen their market presence?
Some of the key players in the 3D printing market include Stratasys (US), 3D Systems (US), Materialise (Belgium), EOS GmbH (Germany), GE (US), Voxeljet (Germany), and HP (US). These companies are adopting both organic and inorganic strategies to strengthen their position in the market.
What are the opportunities for the 3D printing market?
Increasing demand for medical products and supplies in post-pandemic scenario, rapid advancements in printing technologies and materials and development of knowledge and skills progression framework, and emerging applications of 3D printing technology in automotive, printed electronics, jewellery, and education fields are some of the major opportunities for 3D printing.
What are the various materials covered in 3D printing market?
The materials used in 3D printing are broadly classified into four main groups: plastics, metals, ceramics, and other materials. Each material has unique properties and is used individually or combined with other materials to suit various applications.
Which region is expected to adopt 3D printing market at a fastest rate during the forecasted period?
Asia Pacific region is expected to adopt 3D printing at the fastest rate. Few of the developing countries such as China, south Korea, and India are expected to have a high potential for the future growth of the 3D printing market.
What is the total CAGR expected to be recorded for the 3D printing market during forecasted period?
The CAGR is expected to record the of 18.1% from 2023-2028 for 3D printing market.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
The study involved four major activities in estimating the current size for 3D printing market. Exhaustive secondary research was done to collect information on the market, related market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. Both top-down and bottom-up approach was employed to estimate the overall market size. Subsequently, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary research process referred for this study include various secondary sources were referred to for identifying and collecting information related to this study. Secondary sources include annual reports; press releases; investor presentations; white papers; journals and certified publications; and articles from recognized authors, directories, and databases. Secondary research was conducted to obtain key information about the industry’s supply chain, value chain, total pool of key players, market segmentation according to the industry trends (to the bottommost level), regional markets, and key developments from the market- and technology-oriented perspectives.
After the complete market engineering (which includes calculations for market statistics, market breakdown, data triangulation, market size estimations, and market forecasting), extensive primary research was conducted to gather information and verify and validate the numbers obtained.
Primary Research
Extensive primary research was conducted after gaining knowledge about the 3D printing market scenario through various secondary sources. Exhaustive primary interviews were conducted with market experts from both demand-side (commercial application-specific peripheral providers) and supply-side (equipment manufacturers and distributors) across 4 major regions includes North America, Europe, Asia Pacific, and Rest of the World. The approximate segmentation of primaries were 20% and 80% for demand side and supply side, respectively. Primary data was collected through questionnaires, e-mails, meetings, and telephonic interviews.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The market sizing used to estimate and validate the size of the 3D printing market and other dependent submarkets include the complete engineering process, such as top-down and bottom-up approaches and several data triangulation methods. Key players in the market have been determined through primary and secondary resources. This complete research methodology involved the study of the annual and financial reports of top market players and extensive interviews with 3D printing industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) about the 3D printing market. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in the report.
3D Printing Market: Process Flow Of Market Size Estimation
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from demand and supply sides. The market size was also validated using top-down and bottom-up approaches.
Market Definition
Three-dimensional (3D) printing is the process of building up a real 3D object from a digital model by joining thin layers of materials (which might be in solid, powder, or liquid forms), usually layer-upon-layer in horizontal cross-section, unlike subtractive manufacturing methods. It is also known as AM (additive manufacturing) or freeform fabrication. 3D printing is the most common term in the consumer markets, while AM is more used in the industrial markets. 3D printing is used for prototyping, tooling, and functional part manufacturing. The manufactured functional parts are used in various industries, such as automotive, aerospace, healthcare, jewelry, education, tooling, consumer goods, and art and architecture.
Key Stakeholders
- The intended audience for this report is as follows:
- 3D printing products and solutions providers
- 3D printing-related service providers
- 3D printing materials and accessories providers
- 3D printing consulting companies
- 3D printing assembly companies
- 3D printing software providers
- 3D printing-related associations, organizations, forums, and alliances
- Government and corporate offices
- Venture capitalists, private equity firms, and start-up companies
- Distributors and traders
- End users willing to know more about 3D printing technologies and the latest technological developments in the 3D printing market
Report Objectives
- To define, describe, and forecast the global 3D printing market, in terms of value, based on offering, process, technology, application, vertical, and geography
- To define, describe, and forecast the 3D printer market, in terms of volume, by printer type
- To forecast the market size, in terms of value, for various segments, with respect to four main regions—North America, Europe, Asia Pacific, and Rest of the World (RoW)
- To provide detailed information regarding the major factors influencing the growth of the 3D printing market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities for the market stakeholders by identifying high-growth segments of the 3D printing market
- To benchmark players within the market using the proprietary Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of market rank and product offering
- To strategically profile the key players and comprehensively analyze their market shares and core competencies2 and provide a detailed competitive landscape for market leaders
- To analyze competitive developments such as partnerships, collaborations, agreements, and joint ventures; mergers and acquisitions; expansions; and product launches and developments in the 3D printing market
Available Customizations
MarketsandMarkets offers customizations according to the company’s specific needs and with the given market data. The following customization options are available for the report:
- Additional country-level analysis of the 3D printing market
- Profiling additional market players (upto 5)
Product Analysis
- Product matrix that gives a detailed comparison of the product portfolio of each company in 3D printing market
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Generating Response ...
Growth opportunities and latent adjacency in 3D Printing Market
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