COVID-19 Impact on 3D Printing Market

COVID-19 Impact on 3D Printing Market by Offering (Service, Printer, Material, and Software) - Global Forecast to 2025

Report Code: SE 7703 Jul, 2020, by marketsandmarkets.com

[55 Pages Report] Post-COVID-19, the global 3D printing market size is estimated to grow from USD 11.4 billion in 2020 to USD 30.2 billion by 2025; it is expected to grow at a CAGR of 18% during 2019-2025. The market in 2020 is estimated to see a drop of more than 19% in comparison to the pre-COVID 2020 estimates. A key reason for this is that although the operation of 3D printers is expected to be high in 2020, most of the activities for which the printers/services are being employed are being done free of cost during this time of need.

Despite the negative effects of the current pandemic, there are certain COVID-19-specific drivers that will allow the 3D printing market to grow. The disruption caused in the global supply chain has forced companies to look at technologies, which allow for remote manufacturing capabilities without the need for investment in large areas, and as such, 3D printing provides this answer. Further to this, the pandemic has created the need for companies to maintain digital copies/assets relating to data for the manufacturing of a component/object. In any case, the 3D printer bridges the gap by being able to utilize these digital designs to produce products as and when required.

Printer sales are expected to stagnate in 2020 and pickup again during forecast period showing healthy double-digit growth rates
The 3D printing market will continue to generate revenue in 2020 although not as much as initially estimated before the pandemic. The losses of the first half of the year are expected to be compensated to a certain extent by the revenue generated in the second half of the year. Growth in the following years will be as a result of backlog orders across all end-user industries as well as sales from new customers who previously had not thought of employing 3D printers until the pandemic had portrayed the benefits.

Material sales will follow similar trend to that of printers with players in future investing more on emerging material types

The revenue generated from the sales of materials for 3D printers would be following a similar trend as that of printers. Large volumes of printing may be taking place in the first quarter of 2020, however, in most of the cases, the materials have been provided free of cost. There will be a focus on the use of emerging materials for printing during the forecast period, however, the benefits of the same will start to emerge after the forecast period.

Overall 3D printing market will continue to be resilient during and post COVID-19 pandemic

The overall 3D printing market will witness a contraction in potential revenue that could be generated. For example, the drop in anticipated revenue for 2025 is expected to be USD 6.3, however, this is far better than what many other industries would be witnessing now as a result of the various implications of COVID-19. The encouraging fact for the 3D printing industry, however, is that the return to double-digit growth rates is expected to take place as early as next year, which is especially attractive for new players planning on entering the market in the next few years.

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Report Scope:

Report Metric

Details

Years considered

2017–2025

Base year

2019

Forecast period

2020–2025

Forecast units

Value (USD) in million/billion

Product segments covered

Offering

Regions covered

Global

In this report, the global 3D printing market is segmented based on offering

By Offering

  • Printer
  • Service
  • Software
  • Material

Critical Questions:

  • What is the impact of COVID-19 on the 3D printing market and its segments?
  • What are the opportunities for 3D printing market providers?
  • Which product segment provides lucrative growth opportunities compared to others?
  • What are a few of the strategies, which companies need to take note of in order to survive in the post-pandemic world?
  • What are the key industry trends in the 3D printing market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 8)
    1.1 STUDY OBJECTIVES
    1.2 DEFINITION
    1.3 RESEARCH METHODOLOGY
    1.4 KEY INDUSTRY INSIGHTS
    1.5 MARKET SIZE APPROACH
    1.6 DATA TRIANGULATION

2 RESEARCH ASSUMPTIONS (Page No. - 13)

3 COVID-19 (Page No. - 14)
    3.1 INTRODUCTION
    3.2 COVID-19 HEALTH ASSESSMENT
    3.3 COVID-19 ECONOMIC ASSESSMENT
           3.3.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT

4 INTRODUCTION TO 3D PRINTING (Page No. - 20)
    4.1 EFFECTIVE AND PRODUCT PROTOTYPE
    4.2 3D PRINTING SERVICES
           4.2.1 SAVINGS IN MANPOWER COSTS
           4.2.2 ACCESS TO GLOBAL INVENTORY OF MATERIALS AND DESIGNS
           4.2.3 GLOBAL DELIVERY COVERAGE
           4.2.4 HIGH-QUALITY PRODUCTION

5 GENERAL MARKET DYNAMICS (PRE-COVID-19 IMPACT) (Page No. - 23)

6 IMPACT OF COVID-19 ON 3D PRINTING ECOSYSTEM (Page No. - 26)
    6.1 EFFECT ON INDUSTRIES
    6.2 INVESTMENTS IN 3D ECOSYSTEM
    6.3 EFFECT ON PRINTER MANUFACTURERS & MATERIAL SUPPLIERS
           6.3.1 KEY TAKEAWAYS FOR PRINTER MANUFACTURERS AND MATERIAL SUPPLIERS
    6.4 EFFECT ON SERVICE AND SOFTWARE PROVIDERS
           6.4.1 KEY TAKEAWAYS FOR SERVICE AND SOFTWARE PROVIDERS

7 IMPACT OF COVID-19 ON 3D PRINTING MARKET, BY INDUSTRY (Page No. - 32)
    7.1 AUTOMOTIVE INDUSTRY
    7.2 AEROSPACE INDUSTRY
    7.3 OTHER INDUSTRIES

8 EMERGING 3D PRINTING TECHNOLOGIES (Page No. - 34)

9 3D PRINTING MARKET, BY OFFERING (Page No. - 36)

10 MACROECONOMIC INDICATORS (Page No. - 39)
     10.1 KEY MARKET DRIVERS (COVID-19 SPECIFIC)
             10.1.1 3D PRINTERS PROVIDING SUPPORT TO GLOBAL SUPPLY CHAIN
             10.1.2 MOVEMENT TOWARD INCREASED VARIETY IN PRODUCTS BEING DEVELOPED
             10.1.3 3D PRINTING FILLING IN SUPPLY SHORTAGE FOR HEALTHCARE ESSENTIALS
             10.1.4 CHANGE IN CERTIFICATION PROCESS FOR 3D PRINTING
             10.1.5 MOVE TOWARD INSOURCING
             10.1.6 INCREASING INVESTMENT IN SOFTWARE AND SERVICES SECTOR OF 3D PRINTING MARKET
             10.1.7 SHIFT TOWARD CONSULTING SERVICES IN SHORT TO MEDIUM TERM
     10.2 KEY MARKET RESTRAINTS (COVID -19 SPECIFIC)
             10.2.1 ACCESS TO RAW MATERIALS FOR PRINTING
             10.2.2 REGULATORY RIGHTS FOR PRINTING OF PRODUCTS
             10.2.3 DEPLOYMENT REQUIREMENTS

11 THE WAY FORWARD (Page No. - 47)
     11.1 SHORT-TERM STRATEGY
             11.1.1 WORKER SAFETY
             11.1.2 SHIFT IN SCHEDULED MANUFACTURING SHUTDOWNS
             11.1.3 MID TERM
             11.1.4 LONG TERM

12 KEY LEARNINGS FOR 3D PRINTING COMPANIES (Page No. - 51)

13 APPENDIX (Page No. - 52)
     13.1 KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL
     13.2 AVAILABLE CUSTOMIZATIONS
     13.3 RELATED REPORTS
     13.4 AUTHOR DETAILS


LIST OF TABLES (11 TABLES)

TABLE 1 TABLE 1 PARTIAL LIST OF COMPANIES PROVIDING 3D PRINTING SERVICES
TABLE 2 TABLE 2 KEY DRIVERS FOR 3D PRINTING
TABLE 3 TABLE 2 KEY RESTRAINTS FOR 3D PRINTING
TABLE 4 GOVERNMENT INVESTMENTS (PRE COVID-19)
TABLE 5 EMERGING 3D PRINTING TECHNOLOGIES
TABLE 6 3D PRINTING MARKET, BY PRINTER, 2017–2025 (USD BILLION)
TABLE 7 3D PRINTING MARKET, BY MATERIAL, 2017–2025 (USD BILLION)
TABLE 8 3D PRINTING MARKET, BY SERVICE, 2017–2025 (USD BILLION)
TABLE 9 3D PRINTING MARKET, BY SOFTWARE, 2017–2025 (USD BILLION)
TABLE 10 3D PRINTING MARKET, 2017–2025 (USD BILLION)
TABLE 11 2008–2009 RECESSION VS COVID-19 PANDEMIC


LIST OF FIGURES (12 FIGURES)

FIGURE 1 BOTTOM UP APPROACH
FIGURE 2 TOP DOWN APPROACH
FIGURE 3 COVID-19: THE GLOBAL PROPAGATION
FIGURE 4 COVID-19 PROPAGATION: SELECT COUNTRIES
FIGURE 5 COUNTRIES BEGIN WITH SIMILAR TRAJECTORIES BUT CURVES DEVIATE BASED ON MEASURES TAKEN
FIGURE 6 REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2020
FIGURE 7 CRITERIA IMPACTING THE GLOBAL ECONOMY
FIGURE 8 SCENARIOS IN TERMS OF RECOVERY OF THE GLOBAL ECONOMY
FIGURE 9 KEY MARKET DRIVERS PROPELLING 3D PRINTING
FIGURE 10 INDUSTRY ACTIVITY IN FIGHTING COVID-19
FIGURE 11 PHASE BY PHASE PLAN FOR COMPANIES TO NAVIGATE POST-COVID WORLD
FIGURE 12 KEY OPPORTUNITIES WITHIN AND OUTSIDE 3D PRINTING ECOSYSTEM

The study involved four major activities for estimating the size of the 3D printing market. Exhaustive secondary research has been conducted to collect information on the market, the peer markets, the parent market, and the impact of COVID-19 on the market. The next step involved has been validating these findings, assumptions, and sizing, with industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the overall market size. After that, the market breakdown and data triangulation techniques have been used to estimate the market size of segments.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study. Secondary sources such as government sources; corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and professional associations have been used to identify and collect information for an extensive technical and commercial study of the 3D printing market.

Primary Research

In the primary research process, primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for this report. Primary sources, such as experts from related industries and suppliers, have been interviewed to obtain and verify critical information, especially with respect to the impact of COVID-19. This research included studying the annual reports of various market players and interviewing key opinion leaders such as CEOs, directors, and marketing personnel.

COVID-19 Impact on 3D Printing Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches have been implemented, along with several data triangulation methods, to estimate and validate the size of the post-COVID-19 3D printing market and segments listed in this report.

  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research.

All percentage shares, splits, breakdowns, and COVID-19 impact estimation have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size, the total 3D printing market has been split into key segments. To complete the overall market engineering process and arrive at exact statistics for all segments, market breakdown, and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.

Study Objectives:

  • To describe and forecast the global 3D printing market, in terms of value, based on key offerings as a result of the recent COVID-19 pandemic
  • To understand, based on current market conditions, how governments are dealing with the current crisis and how this would affect the 3D printing ecosystem
  • To identify changes in the macroeconomic factors specific to the impact of COVID-19
  • To elaborate on the various strategies that the market as a whole would be moving toward in short, medium, and long terms
  • To provide detailed information regarding the major factors influencing the growth of
    the 3D printing market (drivers, restraints, opportunities, and challenges)
Report Code
SE 7703
Published ON
Jul, 2020
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