A Guide on 3D Printing Market Size and Global Outlook

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3D printers seem quite popular these days but the technology is not as new as it is propagated. The first 3D was created in 1983 as a tool for recreational activities. At that time, the creator, Chuck Hull did not even realize its potential for industrial use. Despite being forgotten for some time, 3D printers evolved due to technological innovations in other fields. T3D printers were slowly being used for different purposes but not commercially. The media also highlighted the benchmarks set by 3D but their use on the industrial scale was still in the pipeline. Nonetheless, many industries saw 3D printer as an amazing prototyping tool and the machine entered the industrial landscape.

Global 3D Printing Market Outlook:

Since then, the 3D printing market has reached to exponential heights and it is now being used as a major manufacturing tool in many industries in the mature markets. The 3D printing market size is also increasing with every passing quarter as it is being favored in almost every developing region. The technology is already quite popular in the industrially developed regions such as North America and Europe. The major end-use industries that employ 3D printing products and/or technology are automotive, pharmaceutical, rapid prototyping, and Original Equipment Manufacturer (OEM).

The industries that are going to be the future end-users are aerospace, defense, fashion, and energy. Among all the industries, the demand for 3D printed products in aerospace, defense, and construction is currently growing at a Compound Annual Growth Rate (CAGR) of 15 percent and it is expected to reach approximately 25 percent. On the other hand, the demand in the fashion and energy sector is growing at a CAGR of 25 percent and it is likely to reach approximately 35 percent in the coming years.    

Here is a brief description of the market variables that affect the global 3D printing market in general.

  • Apart from the use in a variety of industries, 3D printed products are used for presentation models that are functional as well. Some other uses of 3d printed products include pattern-making on casting, and new product design and development. In any case, direct part production is also an aggressive trend among different industries that prefer 3D printing technology for the same.
  • The technologies or methods used in 3D printing include FDM, LA, and SLS printing. FDM is a thin plastic element that is used in the filament form through material extrusion method. This is also the most cost-effective method. The other methods such as SLA use layers of the material for producing the object. This is basically polymerization which uses UV light for hardening the material. This is also the first 3D printing method. Lastly, SLS is powder bed fusion that uses laser technology for creating 3D shapes from a powdered material. The materials can be plastic, metal, ceramic, etc.

3D printing technology has made its place in almost every industry. Although the technology and its methods take some time for producing materials, the objects derived from the process are flawless and do not lack details even on a micro level.