3D printing has undergone significant advancements in recent years, resulting in widespread adoption by businesses and an increasing number of consumers entering the market. This technology allows users to transform their digital designs into physical objects, such as creating a custom phone case on a computer and printing it out using a 3D printer. By layering materials like plastic or metal, the printer can construct the casing to create a unique and valuable final product. Many organizations utilize 3D printing software to translate their designs into a format that can be understood by the printer.
To understand the future of the 3D printing market, let’s explore some key statistics:
– North America currently holds the largest market share, accounting for over 30% in 2022. The United States is the largest individual market, contributing $3.1 billion or 22%.
– Europe is home to 52% of all 3D printing businesses, with the UK being the second-largest market in Europe and the fifth-largest globally, estimated at £468 million.
– The global market for 3D printing is projected to grow by 20.8% annually, reaching a potential value of $62.76 billion (£48.88 billion) by 2030. The UK 3D printing market is expected to reach £685 million by 2026, growing at a CAGR of approximately 10%.
– 61% of 3D printer users express a desire to increase their investment in the technology, while only 36% wish to maintain their current level.
– Customers spend an average of £8,000 annually on 3D printing, with 23% spending close to £80,000. Cost is the main barrier preventing more frequent utilization of 3D printing, according to 55% of respondents.
– German suppliers account for 62% of all PBF metal additive manufacturing (AM) systems installed worldwide. The market for small industrial metal printers is expected to reach $1 billion by 2027.
– The global 3D printer market is projected to increase by $25 million between 2022 and 2027, at a CAGR of 23.49%.
The 3D printing market consists of three primary segments: hardware, software, and services. Hardware, which includes the actual 3D printers, commands the largest portion of the market at over 63%. The functional components market for 3D printing applications is expected to grow rapidly, with a CAGR of 21.5% from 2021 to 2028. Metal is a significant component of the printing materials market, accounting for over 48% of global revenue. The ceramics market is also predicted to grow at a CAGR of 23.3% in 2022. By 2026, the market for CAD software and on-demand parts services is expected to triple. Industrial printers capture a significant share of the 3D printing market, accounting for over 76% of global sales.
Various industries worldwide employ 3D printers, with users categorized as either industrial or desktop. Industrial users operate large machinery for high-volume production, while desktop users work in smaller workshops, educational institutions, and healthcare facilities. The manufacturing industry heavily relies on 3D printing for specialized parts, car interiors, healthcare equipment, and more. The North American market for 3D printing was valued at $5.72 billion in 2021, and the industry is projected to grow between 18% and 27% annually. In 2021 alone, around 2.2 million 3D printers were shipped, with the 3D printing materials market worth $1.7 billion and the equipment market worth $4.5 billion. Profitable manufacturers in this industry include AutoDesk, HP Inc., 3D Systems, Desktop Metal, and Proto Labs.
The most widely used 3D printing technology is fused deposition modeling (FDM) or fused filament fabrication (FFF), followed by selective laser sintering (SLS). Stereolithography (SLA) is being rapidly replaced by faster technologies. Metal 3D printing is gaining popularity as industries prioritize concerns about plastic usage. In 2018, metal was used in 36% and plastic in 65% of 3D printers. As of 2021, there were 871,000 3D printing machines in use globally.
With regards to usage, more than 68% of companies employ 3D printing for prototyping and pre-series manufacturing. The value of 3D printing for prototyping was estimated at $4.4 billion in 2020. Proof of concept is the second-most popular use, with 59% of respondents utilizing 3D printing for this purpose. Functional items are produced by 40% of businesses, while 26% use the technology for tool manufacturing. Additionally, 27% of businesses utilize 3D printing to produce finished consumer goods. The molds and tooling market is predicted to grow from $5.2 billion in 2020 to $20 billion within the next ten years.
In summary, 3D printing has seen significant growth and adoption in recent years. Its ability to transform digital designs into physical objects has revolutionized various industries. The market is expanding globally, with North America and Europe being key players. The 3D printing industry is dominated by hardware, with metal and ceramics gaining traction. The manufacturing industry heavily relies on 3D printing, and the technology is expected to continue advancing and finding new applications in the future.
<p>The post 69 Must-Know Facts and Emerging Trends for 2023 first appeared on The Start-Up Resource Blog.</p>
