COVID-19 Impact on 3D Printing Market by Offering (Service, Printer, Material, and Software) - Global Forecast to 2025
“3D printing market is estimated to grow at CAGR of 18% during 2019–2025, which is lower than pre-COVID evaluations”
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.
“Printer sales are expected to stagnate in 2020 but will pick up 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 is expected 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 sale of materials for 3D printers would be following a similar trend as that of printers during the forecast period. 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.
Breakdown of the profiles of primary participants for the report has been given below:
This report covers the impact of COVID-19 on the 3D printing market based on offering, i.e services, printers, software, and materials. It also discusses the supply chain, drivers, and challenges of the market.
Reasons to Buy the 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.
“Printer sales are expected to stagnate in 2020 but will pick up 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 is expected 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 sale of materials for 3D printers would be following a similar trend as that of printers during the forecast period. 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.
Breakdown of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 = 25%, Tier 2 = 40%, and Tier 3 = 35%
- By Designation: C-level Executives = 20%, Directors = 55%, and Others = 25%
- By Region: North America = 25%, Europe= 30%, APAC = 45%
This report covers the impact of COVID-19 on the 3D printing market based on offering, i.e services, printers, software, and materials. It also discusses the supply chain, drivers, and challenges of the market.
Reasons to Buy the Report:
- The report speaks about the macroeconomic indicators that affect the 3D printing market as well as the specific indicators as a result of the COVID-19 pandemic and how this would translate into business opportunities for the future
- Information on what plans potential customers would be implementing in a post-pandemic world and how 3D printing will play a role in the future
- Information on a few of the challenges and risks, which organizations need to be aware of and accordingly navigate
1 INTRODUCTION
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
3 COVID-19
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
4.1 EFFECTIVE 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)
6 IMPACT OF COVID-19 ON 3D PRINTING ECOSYSTEM
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
7.1 AUTOMOTIVE INDUSTRY
7.2 AEROSPACE INDUSTRY
7.3 OTHER INDUSTRIES
8 EMERGING 3D PRINTING TECHNOLOGIES
9 GLOBAL 3D PRINTING MARKET, BY OFFERING
10 MACROECONOMIC INDICATORS
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 OFFERINGS 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
11.1 SHORT-TERM STRATEGY
11.1.1 WORKER SAFETY
11.1.2 SHIFT IN SCHEDULED MANUFACTURING SHUTDOWNS
11.1.3 MIDTERM
11.1.4 LONG TERM
12 KEY LEARNINGS FOR 3D PRINTING COMPANIES
13 APPENDIX
13.1 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.2 AVAILABLE CUSTOMIZATIONS
13.3 RELATED REPORTS
13.4 AUTHOR DETAILS
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
3 COVID-19
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
4.1 EFFECTIVE 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)
6 IMPACT OF COVID-19 ON 3D PRINTING ECOSYSTEM
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
7.1 AUTOMOTIVE INDUSTRY
7.2 AEROSPACE INDUSTRY
7.3 OTHER INDUSTRIES
8 EMERGING 3D PRINTING TECHNOLOGIES
9 GLOBAL 3D PRINTING MARKET, BY OFFERING
10 MACROECONOMIC INDICATORS
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 OFFERINGS 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
11.1 SHORT-TERM STRATEGY
11.1.1 WORKER SAFETY
11.1.2 SHIFT IN SCHEDULED MANUFACTURING SHUTDOWNS
11.1.3 MIDTERM
11.1.4 LONG TERM
12 KEY LEARNINGS FOR 3D PRINTING COMPANIES
13 APPENDIX
13.1 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.2 AVAILABLE CUSTOMIZATIONS
13.3 RELATED REPORTS
13.4 AUTHOR DETAILS
LIST OF TABLES
TABLE 1 TABLE 1 PARTIAL LIST OF COMPANIES PROVIDING 3D PRINTING SERVICES
TABLE 2 KEY DRIVERS FOR 3D PRINTING
TABLE 3 KEY RESTRAINTS FOR 3D PRINTING
TABLE 4 GOVERNMENT INVESTMENTS (PRE COVID-19)
TABLE 5 EMERGING 3D PRINTING TECHNOLOGIES
TABLE 6 GLOBAL 3D PRINTING MARKET, BY PRINTER, 2017–2025 (USD BILLION)
TABLE 7 GLOBAL 3D PRINTING MARKET, BY MATERIAL, 2017–2025 (USD BILLION)
TABLE 8 GLOBAL 3D PRINTING MARKET, BY SERVICE, 2017–2025 (USD BILLION)
TABLE 9 GLOBAL 3D PRINTING MARKET, BY SOFTWARE, 2017–2025 (USD BILLION)
TABLE 10 GLOBAL 3D PRINTING MARKET, 2017–2025 (USD BILLION)
TABLE 11 2008–2009 RECESSION VS COVID-19 PANDEMIC
TABLE 1 TABLE 1 PARTIAL LIST OF COMPANIES PROVIDING 3D PRINTING SERVICES
TABLE 2 KEY DRIVERS FOR 3D PRINTING
TABLE 3 KEY RESTRAINTS FOR 3D PRINTING
TABLE 4 GOVERNMENT INVESTMENTS (PRE COVID-19)
TABLE 5 EMERGING 3D PRINTING TECHNOLOGIES
TABLE 6 GLOBAL 3D PRINTING MARKET, BY PRINTER, 2017–2025 (USD BILLION)
TABLE 7 GLOBAL 3D PRINTING MARKET, BY MATERIAL, 2017–2025 (USD BILLION)
TABLE 8 GLOBAL 3D PRINTING MARKET, BY SERVICE, 2017–2025 (USD BILLION)
TABLE 9 GLOBAL 3D PRINTING MARKET, BY SOFTWARE, 2017–2025 (USD BILLION)
TABLE 10 GLOBAL 3D PRINTING MARKET, 2017–2025 (USD BILLION)
TABLE 11 2008–2009 RECESSION VS COVID-19 PANDEMIC
LIST OF FIGURES
FIGURE 1 BOTTOM-UP APPROACH
FIGURE 2 TOP-DOWN APPROACH
FIGURE 3 COVID-19: 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 GLOBAL ECONOMY
FIGURE 8 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY
FIGURE 9 KEY MARKET DRIVERS PROPELLING USE OF 3D PRINTING
FIGURE 10 INDUSTRY ACTIVITIES 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
FIGURE 1 BOTTOM-UP APPROACH
FIGURE 2 TOP-DOWN APPROACH
FIGURE 3 COVID-19: 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 GLOBAL ECONOMY
FIGURE 8 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY
FIGURE 9 KEY MARKET DRIVERS PROPELLING USE OF 3D PRINTING
FIGURE 10 INDUSTRY ACTIVITIES 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
