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3D Printing Market Size by Offering (Printer, Material, Software, Services), Technology (Fused Deposition Modelling, Stereolithography), Process (Powder Bed Fusion, Material Extrusion, Binder Jetting), Application, Vertical & Region - Global Forecast to 2029

January 2025 | 198 pages | ID: 3C9AFC4B8F4CEN
MarketsandMarkets

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The 3D printing market is poised on the edge of a significant growth trajectory, driven by technological advancements and expanding applications across various sectors. In addition to the description of the 3D printing market, this report also covers the key drivers and restraints, competitive landscape, company profiles, and evaluation matrix for both key players as well as startups/SMEs present in the market.

3D printing is an innovation that revolutionizes manufacturing, prototyping, and even supply chain dynamics and has been embraced across multiple verticals, including the aerospace, automotive, and healthcare sectors, which are actively leveraging 3D printing technologies for efficient production solutions.

Market Description

3D printing, a process of creating three-dimensional objects from digital files, , allows for customization and creates opportunities for innovation in manufacturing techniques. The technology offers significant cost reductions in manufacturing and assists in producing complex geometric structures that are laborious or impossible with traditional methods. 3D printing has numerous applications in various domains, ranging from aerospace to healthcare.

Market Dynamics

Key Driver: Ease in Manufacturing Customized Products

The ease of manufacturing customized products is one of the main drivers pushing the adoption of 3D printing technology. The capability to produce intricate designs with minimal waste allows manufacturers to meet specific customer requirements effectively and efficiently, reducing overproduction and keeping inventory costs low.

Key Restraint: High Material Costs

Despite its transformative potential, the 3D printing market faces several obstacles, the most significant of which is the high cost of materials. The cost of metals and specialized plastics required for 3D printing is significantly higher compared to traditional materials, which hinders widespread adoption across cost-sensitive industries.

Key Challenge: Ensuring Consistent Quality

A significant challenge in the industry is ensuring the consistent quality of final products. There is an ongoing need to develop standards that ensure repeatability and reliability across printing batches, which is crucial for acceptance in sectors like aerospace and healthcare.

Opportunity: Post-Pandemic Demand for Medical Products

In the medical sector, the COVID-19 pandemic showcased the role that 3D printing can play in addressing urgent demands for medical supplies, such as protective gear and parts for ventilation systems, highlighting a potential for large-scale adoption in the future.

Competitive Landscape

The competitive landscape of the 3D printing market is populated by a mix of established companies and dynamic startups. Top companies, such as Stratasys, 3D Systems, Inc., HP, and EOS GmbH, are leaders due to their extensive product portfolios and continuous innovation strategies. These companies, and startups such as Xometry and Proto3000 form a competitive ecosystem energized by rapid technological advancements and evolving customer requirements.

Key Players

Stratasys: Stratasys is a leader in providing 3D printing solutions and is known for its innovations in material sciences and applications in the automotive and medical industries.

3D Systems, Inc.: 3D Systems is a pioneer in 3D printing technology focusing on precision and product reliability, especially in the healthcare and aerospace industries.

Startups

Xometry: Xometry specializes in advanced manufacturing solutions, offering a comprehensive platform that integrates a wide range of services beyond traditional 3D printing.

Proto3000: Known for innovative dental and medical 3D printing applications, Proto3000 emphasizes precision and customizability.

Evaluation Matrix

An evaluation matrix assesses the position of key companies and startups/SMEs within the market based on several criteria, including innovation, market reach, and financial strength. The matrix highlights progressive companies as those that manage to combine traditional manufacturing strengths with innovative 3D printing solutions, while responsive companies adapt quickly to technological shifts and market demands.

Conclusion

The 3D printing market in 2024 presents a complex landscape where opportunities and challenges coexist. Continued innovation, combined with strategic investments and partnerships, will play a crucial role in shaping the future of 3D printing. This report highlights the importance of adapting to rapidly changing market conditions and emphasizing quality and cost-efficiency to unlock the full potential of 3D printing across industries.
1 EXECUTIVE SUMMARY

2 MARKET OVERVIEW

2.1 INTRODUCTION
2.2 EVOLUTION OF 3D PRINTING
  2.2.1 IMPACT OF 3D PRINTING, BY VERTICAL
2.3 MARKET DYNAMICS
  2.3.1 DRIVERS
    2.3.1.1 Ease in manufacturing of customized products
    2.3.1.2 Reduction in manufacturing costs and process downtime
    2.3.1.3 Increasing government-led investments in 3D printing projects
    2.3.1.4 Availability of various industrial-grade 3D printing materials
    2.3.1.5 High demand for lightweight yet durable parts in aerospace & defense vertical
  2.3.2 RESTRAINTS
    2.3.2.1 Lack of standardized testing methods to verify mechanical properties of 3D printing materials and high raw material costs
    2.3.2.2 Inadequate design and process control data due to lack of printing material specifications
  2.3.3 OPPORTUNITIES
    2.3.3.1 Increasing demand for medical products and supplies in post-pandemic scenario
    2.3.3.2 Rapid advancements in printing technologies and materials and development of knowledge and skill progression frameworks
    2.3.3.3 Emerging applications of 3D printing technology in automotive, printed electronics, jewelry, and education verticals
    2.3.3.4 Advancements in 3D printing materials
  2.3.4 CHALLENGES
    2.3.4.1 Ensuring consistent quality of final 3D-printed products with repeatable and stable production processes
    2.3.4.2 Threat of copyright infringement
    2.3.4.3 Decline in sales of 3D printing devices attributed to recession
2.4 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
2.5 PRICING ANALYSIS
  2.5.1 AVERAGE SELLING PRICE (ASP) OF 3D PRINTERS OFFERED BY KEY PLAYERS, BY TYPE
  2.5.2 AVERAGE SELLING PRICE (ASP) TREND OF 3D PRINTERS, BY REGION
2.6 VALUE CHAIN ANALYSIS
  2.6.1 RESEARCH AND DEVELOPMENT ENGINEERS
  2.6.2 MATERIAL AND SOFTWARE PROVIDERS
  2.6.3 MANUFACTURERS
  2.6.4 SERVICE PROVIDERS
  2.6.5 END-USER INDUSTRIES
  2.6.6 AFTER-SALES SERVICE PROVIDERS
2.7 ECOSYSTEM ANALYSIS
  2.7.1 MATERIAL SUPPLIERS
    2.7.1.1 Polymer providers
    2.7.1.2 Metal providers
  2.7.2 SOFTWARE PROVIDERS
  2.7.3 PRINTER PROVIDERS
    2.7.3.1 Industrial 3D printer providers
    2.7.3.2 Desktop 3D printer providers
2.8 INVESTMENT AND FUNDING SCENARIO
2.9 TECHNOLOGY ANALYSIS
  2.9.1 KEY TECHNOLOGY
    2.9.1.1 Hybrid manufacturing
    2.9.1.2 MELD process
  2.9.2 COMPLEMENTARY TECHNOLOGY
    2.9.2.1 3D bioprinting and tissue engineering
    2.9.2.2 IoT integration and connectivity
  2.9.3 ADJACENT TECHNOLOGY
    2.9.3.1 Computer numerical control (CNC) machining
    2.9.3.2 Injection molding
2.10 PATENT ANALYSIS
  2.10.1 LIST OF PATENTS
2.11 TRADE ANALYSIS
  2.11.1 IMPORT SCENARIO
  2.11.2 EXPORT SCENARIO
2.12 KEY CONFERENCES AND EVENTS, 2024–2025
2.13 CASE STUDY ANALYSIS
  2.13.1 SWINBURNE UNIVERSITY COLLABORATED WITH RENISHAW TO ENHANCE ELECTRIC CARS’ PERFORMANCE IN COMPETITION AGAINST PETROL-POWERED VEHICLES
  2.13.2 LINEX CORPORATION ENHANCED INSPECTION PRECISION USING RENISHAW’S CUSTOM ADDITIVE MANUFACTURED STYLUS
  2.13.3 PROTOLABS’ DMLS SERVICE HELPED ALEX DEGNES ADDRESS TWO-STROKE ENGINE SPEED RECORD CHALLENGE
  2.13.4 PEPSICO ACHIEVED RAPID TOOLING DEVELOPMENT, DURABILITY, AND COST REDUCTION USING NXE 400 3D PRINTER
  2.13.5 LALALAND PRODUCTION AND DESIGN REVOLUTIONIZED FOOTWEAR MANUFACTURING USING NEXA3D’S SLS PRINTER
2.14 REGULATORY LANDSCAPE AND STANDARDS
  2.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  2.14.2 STANDARDS RELATED TO 3D PRINTING
2.15 PORTER’S FIVE FORCES ANALYSIS
  2.15.1 THREAT OF NEW ENTRANTS
  2.15.2 THREAT OF SUBSTITUTES
  2.15.3 BARGAINING POWER OF SUPPLIERS
  2.15.4 BARGAINING POWER OF BUYERS
  2.15.5 INTENSITY OF COMPETITIVE RIVALRY
KEY STAKEHOLDERS AND BUYING CRITERIA
  2.15.6 KEY STAKEHOLDERS IN BUYING PROCESS
  2.15.7 BUYING CRITERIA

3 COMPETITIVE LANDSCAPE

3.1 OVERVIEW
3.2 STRATEGIES ADOPTED BY MAJOR PLAYERS
3.3 REVENUE ANALYSIS, 2019–2023
3.4 MARKET SHARE ANALYSIS, 2023
3.5 VALUATION AND FINANCIAL METRICS, 2024
3.6 BRAND/PRODUCT COMPARISON
3.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
  3.7.1 STARS
  3.7.2 EMERGING LEADERS
  3.7.3 PERVASIVE PLAYERS
  3.7.4 PARTICIPANTS
  3.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
    3.7.5.1 Overall footprint
    3.7.5.2 Offering footprint
    3.7.5.3 Technology footprint
    3.7.5.4 Process footprint
    3.7.5.5 Application footprint
    3.7.5.6 Vertical footprint
    3.7.5.7 Region footprint
3.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
  3.8.1 PROGRESSIVE COMPANIES
  3.8.2 RESPONSIVE COMPANIES
  3.8.3 DYNAMIC COMPANIES
  3.8.4 STARTING BLOCKS
  3.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
    3.8.5.1 List of key startups/SMEs
    3.8.5.2 Competitive benchmarking of key startups/SMEs
3.9 COMPETITIVE SCENARIOS AND TRENDS
  3.9.1 PRODUCT LAUNCHES
  3.9.2 DEALS

4 COMPANY PROFILES

4.1 KEY PLAYERS
  4.1.1 STRATASYS
    4.1.1.1 Business overview
    4.1.1.2 Products/Solutions/Services offered
    4.1.1.3 Recent developments
      4.1.1.3.1 Product launches/developments
      4.1.1.3.2 Deals
      4.1.1.3.3 Others
    4.1.1.4 MnM view
      4.1.1.4.1 Key strengths/Right to win
      4.1.1.4.2 Strategic choices
      4.1.1.4.3 Weaknesses/Competitive threats
  4.1.2 EOS GMBH
    4.1.2.1 Business overview
    4.1.2.2 Products/Solutions/Services offered
    4.1.2.3 Recent developments
      4.1.2.3.1 Product launches/developments
      4.1.2.3.2 Deals
      4.1.2.3.3 Expansions
    4.1.2.4 MnM view
      4.1.2.4.1 Key strengths/Right to win
      4.1.2.4.2 Strategic choices
      4.1.2.4.3 Weaknesses/Competitive threats
  4.1.3 HP DEVELOPMENT COMPANY, L.P.
    4.1.3.1 Business overview
    4.1.3.2 Products/Solutions/Services offered
    4.1.3.3 Recent developments
      4.1.3.3.1 Product launches
      4.1.3.3.2 Deals
      4.1.3.3.3 Others
    4.1.3.4 MnM view
      4.1.3.4.1 Key strengths/Right to win
      4.1.3.4.2 Strategic choices
      4.1.3.4.3 Weaknesses/Competitive threats
  4.1.4 3D SYSTEMS, INC.
    4.1.4.1 Business overview
    4.1.4.2 Products/Solutions/Services offered
    4.1.4.3 Recent developments
      4.1.4.3.1 Product launches
      4.1.4.3.2 Deals
      4.1.4.3.3 Others
    4.1.4.4 MnM view
      4.1.4.4.1 Key strengths/Right to win
      4.1.4.4.2 Strategic choices
      4.1.4.4.3 Weaknesses/Competitive threats
  4.1.5 GENERAL ELECTRIC
    4.1.5.1 Business overview
    4.1.5.2 Products/Solutions/Services offered
    4.1.5.3 Recent developments
      4.1.5.3.1 Product launches
      4.1.5.3.2 Deals
      4.1.5.3.3 Others
    4.1.5.4 MnM view
      4.1.5.4.1 Key strengths/Right to win
      4.1.5.4.2 Strategic choices
      4.1.5.4.3 Weaknesses/Competitive threats
  4.1.6 MATERIALISE NV
    4.1.6.1 Business overview
    4.1.6.2 Products/Solutions/Services offered
    4.1.6.3 Recent developments
      4.1.6.3.1 Product launches
      4.1.6.3.2 Deals
      4.1.6.3.3 Others
  4.1.7 DESKTOP METAL, INC.
    4.1.7.1 Business overview
    4.1.7.2 Products/Solutions/Services offered
    4.1.7.3 Recent developments
      4.1.7.3.1 Product launches
      4.1.7.3.2 Deals
  4.1.8 VOXELJET AG
    4.1.8.1 Business overview
    4.1.8.2 Products/Solutions/Services offered
    4.1.8.3 Recent developments
      4.1.8.3.1 Product launches
      4.1.8.3.2 Deals
      4.1.8.3.3 Others
  4.1.9 SLM SOLUTIONS (ACQUIRED BY NIKON INDIA PVT LTD)
    4.1.9.1 Business overview
    4.1.9.2 Products/Solutions/Services offered
    4.1.9.3 Recent developments
      4.1.9.3.1 Product launches
      4.1.9.3.2 Deals
  4.1.10 RENISHAW PLC.
    4.1.10.1 Business overview
    4.1.10.2 Products/Solutions/Services offered
    4.1.10.3 Recent developments
      4.1.10.3.1 Deals
4.2 OTHER PLAYERS
  4.2.1 PROTOLABS
  4.2.2 OPTOMEC, INC.
  4.2.3 PRODWAYS GROUP
  4.2.4 ULTIMAKER
  4.2.5 TIERTIME
  4.2.6 XYZPRINTING
  4.2.7 HЦGANДS AB
  4.2.8 UNIONTECH
  4.2.9 NEXA3D
  4.2.10 TRUMPF
  4.2.11 FORMLABS
  4.2.12 MARKFORGED
  4.2.13 CARBON
  4.2.14 NANO DIMENSION
  4.2.15 RAPID SHAPE GMBH

5 APPENDIX

5.1 INTRODUCTION
  5.1.1 MARKET DEFINITION
    5.1.1.1 Inclusions and exclusions
5.2 LIMITATIONS
5.3 STAKEHOLDERS
5.4 RECESSION IMPACT
5.5 RESEARCH METHODOLOGY
  5.5.1 RESEARCH DATA
    5.5.1.1 Secondary data
      5.5.1.1.1 Key secondary sources
      5.5.1.1.2 Key data from secondary sources
    5.5.1.2 Primary data
      5.5.1.2.1 Primary interviews with experts
      5.5.1.2.2 Key data from primary sources
      5.5.1.2.3 Key industry insights
      5.5.1.2.4 Breakdown of primaries
5.6 DATA TRIANGULATION
  5.6.1 RESEARCH ASSUMPTIONS
  5.6.2 RISK ASSESSMENT
  5.6.3 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON 3D PRINTING MARKET
5.7 AUTHOR DETAILS


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