Industrial 3D Printing Market Report Published by FMI is an in-depth Analysis of the Market Covering its Size, Share, Value, Growth and Current Trends for the Period of 2021-2031″. 3D Printing is an additive process of building 3-dimentional object layer by layer using 3D printer and CAD-based 3D modelling software.The most common raw material used to create 3D objects is plastic. Resins, metal, carbon fiber, graphite and graphene, nitinol, liquids or powder grains being fused together, also been used as raw material for 3D Printing. 3D Printing is exact opposite process of subtractive manufacturing processes.
The technologies like Fused Deposition Modeling (FDM), Direct Metal Laser Sintering (DMLS), Electron Beam Melting (EBM), Selective Heat Sintering (SHS), Selective Laser Melting (SLM), and Selective Laser Sintering (SLS), Electron Beam Melting (EBM), Drop on Demand (DOD), Material Jetting (MJ) are used predominantly in 3D printing.
These all technologies are used in development of complex parts of aerospace, automotive industry, as well as industrial machine parts. The flexible design, fast design and production, rapid prototyping, quick and easy handling of materials are the major drivers for the growing demand for Industrial 3D Printing in the market.
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What are the Key Trends Impacting Growth of the Industrial 3D Printing?
As new and emerging players entering into the market, the 3D Printing Industry is proving divers in nature. New start-ups like ICON(U.S.), Spectroplast(Switzerland), Laser Melting Innovations(Germany), One Click Metal (Germany) are coming up with new promising technologies like silicone 3D printing, developing of low-cost Laser Powder Bed Fusion 3D printer, new 3D printing based on the electro photographic process. Due to increase in number of new players and their new technologies in the market, the industrial 3D printing market has continued to grow and is now expanding and expect this number to grow considerably. It is thus fueling the healthy competition and pushing companies to focus more on innovation and development.
Industrial 3D Printing: Drivers for Market Demand
According to industry research, the global 3D printing market size is expected to reach nearly US$ 50 billion by 2026, and it will be surging at a CAGR of about 25% in the next 5 years. The 3D printing becoming popular in healthcare because of its applications such as to create patient-specific body parts and organs using data from CT and MRI scans. Also 3D-printing accurately replicated anatomical structures for treating aortic dissection and aortic aneurysm using CT scans of patients. Hence, looking into the growth, increasing application of 3D printing technology in healthcare is set to become a key driver.
What are the Key Challenges that may Restrain Growth of the Industrial 3D Printing?
The major challenge or restrain growth of the Industrial 3D Printing is high initial investment along with complex components, machinery, high level technology etc., and that’s why the manufacturing cost of 3D Printing is high. Also the challenge of the Industrial 3D Printing is, cost of raw materials for manufacturing of 3D printed industrial production parts and components. The 60-70% material used for 3D printing is polymers and cost of polymers is high as compare to other materials, due to which the overall production cost increases. The cost of metal material for 3D Printing is about US$ 500 per kg which is way more than the alternate products available in the market. Due to increase in production cost of the product 3D Printing industry’s growth is saturated.
Competition Landscape
The key vendors in the Industrial 3D Printing Market are identified based on their country of origin, different regions, developments, product diversification, and industry expertise. These vendors include-
- Stratasys
- 3D Systems
- Materialise
- EOS GmbH
- GE Additive
- ExOne
- voxeljet
- Others.
These vendors are adopting various key strategies, to increase their customer base locally and globally. They are spending millions of dollars into product research & development to fulfill the requirements of their customers.
What strategies are adopted by Prominent Vendors to Increase their Customer-base?
The companies involved in 3D Printing are carrying out different expansion strategies organic as well as inorganic for increasing their market share in the global Industrial 3D Printing Market.
- In February 2021, 3D Systems announced Introduction of next generation ‘High Speed Fusion’ 3D printing system for aerospace and automotive market applications. By introducing High Speed Fusion filament printer, 3D Systems focuses on their expansion of product portfolio in the growing market that demand high reliability products such as aerospace and automotive.
- In March 2020, Stratasys announced its partnership with m2nxt Solutions. This partnership aimed to deliver synergy to 3D printing solutions and additive manufacturing application to help enterprises prepare for Industry 4.0.
- In February 2021, SLM Solutions announced that the partnership between AMEXCI and SLM Solutions aims to boost industrialization and support companies to successfully implement AM technologies for serial production of complex metal parts.
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3D Printers Industry in Industry 4.0
Industry 4.0 has seen implementation and integration of new emerging technology like Big data, Model Simulation, Cloud Technology, Augmented Reality, 3D Printers/Additive Manufacturing, Artificial Intelligence, Autonomous Robots and Cyber security. Industry 4.0 introduce ‘Smart manufacturing’ in which physical systems expected to communicate with each other in Cloud Technology/virtual mode/ Internet of Things (IoT) though wireless web. Today 3D printing technology is at a stage where companies are starting to realize tangible value for themselves and their customers using the technology. The old technology printers were slow as per the time concern but it can be the opportunity for 3D printers industry in coming days. 3D printers will be the great solution for mass production if key vendors find the solution over time constraints.
Why is the U.S. region to contribute the Largest Market Share?
3D printing industry is spread over the region North America, Europe, Asia Pacific, and other regions. But North America, especially the US, is at top in 3D printing industry as majority of key vendors like Stratasys and other vendors are based out of US region. These vendors creates opportunities for the new emerging players in the technologies like Fused Deposition Modelling (FDM) and Stereolithography (SLA). The use of 3D printing is increased in U.S. due to high demand form industrial sectors such as aerospace, automotive, medical devices, oil and gas sectors and others, for wide range of applications to create production parts, tools and prototypes.
Key Segments of Industrial 3D Printing Covered in the Report
Based on Component:
- 3D Printers
- 3D Printing Software
- 3D Printing Services
Based on Technology:
- SLA
- FDM
- SLS
- Others
Based on Application:
- Rapid Prototyping
- Tools & Fixtures
- Production Parts
- Others
Based on End Users:
- Automotive
- Healthcare & Medical Devices
- Oil & Gas
- Electronics & Electricals
- Others
Based on Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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