3D Printing market and forecast

The 3D Printing technology has roots that go back for decades. But for years, 3D Printing did not apply in the commercial manufacturing. Nevertheless, 3D Printing presents compelling business opportunities and we are now observing different application of 3D Printing due to decrease in cost, technological advances, and flexibility in design.

Growth in global 3D Printing market

Global 3D Printing market is driven by new innovations, optimization in printing performance, expanding application, and declining price. The global 3D Printing market is projected to reach USD 32.78 Billion by 2023.

Prototyping and proof of concept are the leading use of 3D Printing. However, accelerating product development, product customization, and increase flexibility in production are the future priorities. 3D Printing industry’s segmentation are:

  • Prototyping
  • Service
  • Industrial goods
  • Medical
  • Consumer goods
  • Construction

The consumer electronics and automotive industries are early-adopter of the additive manufacturing and contribute for more than 20% of the 3D Printing market. 3D Printing has generated positive results for the consumer electronics industry through developing prototype, increasing flexibility in new product, and designing concepts. The next big 3D Printing opportunity for the consumer electronics industry is in smartphones, which comprise an estimated 35% of total consumer electronics sales. Medical device industry is the next biggest contributor in 3D Printing market (16%). Industrial Goods is also a very dynamic sector while service is a quite different market from other industries when it comes to 3D Printing.

Current top user of 3D Printing technology; ; source data [1]

3D Printing market is maturing, and it is evolving from its roots in the volunteer maker movement into a highly competitive business. This new technology can reduce the cost and barriers in manufacturing. There are reasons to believe that 3D Printing will begin to infiltrate the mainstream, with success belonging to products and services that focus on the object being made, rather than the hobbyist’s thrill in the futuristic manner of how it was made.

  • The primary market (3D Printing systems, materials, supplies, and service) will grow 30% each year.
  • Increase application of 3D Printing in medical and dental industries are driven by capability of new generation of 3D Printers to fabricate precise complex geometries [2].
  • While US is the leader in additive manufacturing applications followed by Europe, there is a clear trend in the adoption of additive manufacturing by Asian countries.

1. References:

[1] Wohlers Associates, Wohlers Report 2015: 3D Printing and Additive Manufacturing State of the Industry Annual Worldwide Progress Report, 2015.

[2] MarketsndMarkets, 3D Printing Market- Global Forecast to 2023, Marketsandmarkets.com. (2017). https://www.marketsandmarkets.com/Market-Reports/3d-printing-market-1276.html.