The global 3D printing market size is projected to grow USD 12.6 billion in 2021 to USD 34.8 billion by 2026, at a CAGR of 22.5%. The market was declined in 2020, mainly due to the impact of COVID-19. The supply chain disruption caused by the pandemic is expected to affect the market significantly. Also, due to lockdown restrictions, companies were not able to source the required labor for their operations due to travel restrictions.
Though the market is impacted in 2020, it is expected to fully recover by 2021. The demand for customized products, reduction in manufacturing cost and process downtime, government investments in 3D printing projects and development of new industrial-grade 3D printing materials are some of the key factors driving the growth of the 3D printing market. Also, the growing use of 3D printing in automotive and consumer electronics applications is likely to boost market growth.
Stratasys (US), 3D Systems (US), EOS Gmbh (Germany), Materialise (Belgium), GE Additive (US), HP (US) , Carbon (US), SLM Solutions (Germany), Formlabs (US), Markforged (US), Desktop Metal (US), Ultimaker (The Netherlands), Covestro (Royal DSM) (Germany), TRUMPF (Germany), Groupe Gorgé (France), Protolabs (US), Renishaw (UK), ExOne (US), Höganäs (Sweden), voxeljet (Germany), Optomec (US), XYZprinting (Taiwan), CleanGreen3D (Ireland), Nano Dimension (Israel), and Beijing Tiertime (China) are the key players in the 3D printing market.
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The 3D printing market is fragmented, owing to the presence of several players. Key strategies adopted by these players to expand their product portfolio, increase their market share, and expand their presence in the market are deals and product launches. Many market players adopted product launches and deals as their primary business strategies. For instance, GE Additive acquired noticeable players, such as Arcam and Concept Laser, in the last five years to expand its presence. In March 2021, ExOne launched a controlled-atmosphere, extra-large production metal printer. The X1 160Pro metal 3D printer is one of the largest production-ready metal binder jetting systems that allow reactive materials to be processed. In January 2021, Stratasys acquired Origin, a 3D printing company, to accelerate the expansion into mass production additive manufacturing (3D Printing).
Stratasys is engaged in the manufacturing and sale of 3D printers, materials, software, professional services, and on-demand parts. The company offers its capabilities to various industry verticals, including aerospace, healthcare, consumer products, automotive, rail, and education. It sells its offerings under the following brands: Stratasys Direct Manufacturing, Blueprint Consulting Services, GrabCAD Design Community and 3D Printing Software, and MakerBot. In March 2021, the company has introduced a 3D printer that enables dental labs 3D printing efficiency paired with the company’s polyJet realism and precision technology. The J5 DentaJet 3D printer is a multi-material dental 3D printer that allows technicians to load mixed trays of dental parts. The new 3D printer consumes only 4.6 sq. ft (0.43 sq. m) of floor space and can produce at least five times more dental parts on a single mixed tray than competitive 3D printers.
3D Systems is a provider of additive manufacturing solutions. The company primarily develops three-dimensional (3D) printing and digital manufacturing solutions. Its products and solutions include 3D printers for plastics and metals, materials, software, maintenance and training services, and on-demand solutions. The company majorly caters to healthcare and industrial verticals. The healthcare vertical comprises dental and medical devices services; the industrial vertical comprises aerospace and transportation. 3D Systems has largely invested in research and development activities to integrate additive manufacturing into traditional production environments and develop customer-specific solutions. In March 2021, the company has collaborated with Huntington Ingalls Industries’ Newport News Shipbuilding division to develop Copper-Nickel (CuNi) and Nickel-Copper (NICU) alloys for powder bed fusion additive manufacturing. Under this collaboration, the newly developed corrosion-resistant alloys will allow Newport News Shipbuilding to 3D print parts thereby, reducing lead times by up to 75% and improve supply chain efficiency.
3D Printing Market with COVID-19 Impact Analysis by Offering (Printer, Material, Software, Service), Process (Binder Jetting, Direct Energy Deposition, Material Extrusion, Material Jetting, Powder Bed Fusion), Application, Vertical, Technology, and Geography - Global Forecast to 2026
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