Technavio anticipates that the global 3D printing market size is expected to grow USD 4.77 billion from 2018 to 2022, growing at a CAGR of 26% during the forecast period. According to Technavio, the major factor driving market growth for the global 3D printing market is the increased demand for customized products across various industries. According to Technavio, one-fourth of online shoppers in the US demand customized products. We are starting to see companies cater to customers that foster brand loyalty and customized products leading to a promising 3D printing market potential in the future.
What does a 3D printer do? There are two major technologies within 3D printing; they are selective laser sintering and plastic extrusion. Plastic extrusion technology consists of a plastic filament that runs through a hot-end and heats it up and melts plastic while a stepper motor pushes that plastic through a nozzle. This is an ideal way to print plastic products. Selective laser sintering shoots a laser into a pile of powder that fuses it into a solid shape creating the desired product. Selective laser sintering is often referred to as SLS. Commonly, SLS is used more in industrial and commercial cases, while plastic extrusion is more limited to plastic use.
The global 3D printing industry forecast is promising, the market is moderately fragmented with 3D printing companies market share currently occupied by several key players. Due to demand from the education sector, forecasts are up considerably. In a market that demands customization, Technavio predicts that the global 3D printing market will post a compound annual growth rate (CAGR) of 26% between 2018 to 2022. The year-over-year growth rate of the global 3D printing market is 19.63%. A key contributing factor affecting the growth of the 3D printing market is due to the growing demand for 3D printing services from the education sector.
3D printers are also being increasingly used in the medical education sector, where certain challenges do exist. For instance, human cadaver models are not ideal in terms of patient age or disease condition. In addition, mass-produced medical models do not show a particular problem. Such issues arise during the training and education of doctors. These issues can be addressed using 3D printing objects and models.
“In 2017, a major vendor helped in addressing a few of these challenges for a key customer. Similarly, 3D printing can be used to address some of the challenges in the other educational sectors also. The growing applications of 3D printing in the education sector are expected to drive the growth of the market in the future,”
says a senior analyst at Technavio for research on enterprise application.
Technavio’s global 3D printing market research report does a deep dive analysis of the various factors affecting the global 3D printing market size and growth. According to Technavio, the largest 3D printing companies in the world are 3D Systems, Arcam, ExOne, Materialise and Stratasys. From a geographical market segment standpoint, the Americas continue to lead the way for the global dietary supplements market making up 45% of the market share, followed by the APAC and EMEA regions.
Technavio's report goes into detail about the main segmentations in the market, with the consumer products segment accounting for the largest share of the global 3D printing market size, accounting for nearly 24% of the market. Within the 3D printing industry, the consumer products segment is expected to increase its market share by 4% by 2022.
The report additionally segments by automotive, healthcare, aerospace & defense, and others. A deep analysis and accurate predictions for the market are also made in the report including leading trends in the market such as the rising demand for customized products. To get access to more detailed stats in the market look at Technavio's free market snapshot.
View market snapshot for free:
51% of the market share in the global dietary supplements market will be coming from the APAC region. Other key regions expected to see major growth are the Americas and EMEA regions. Technavio’s report will go through each geographical segment and define the various factors fueling the growth for the global pet care market size.
Globally, the dietary supplement industry's overall economic impact continues to rise — growing by $38.16 billion by 2022. Technavio finds that much of this growth has been driven by an increase in consumer demand for health and wellness products in a competitive landscape.
According to Technavio the follow companies continue to lead the global 3D printing market.
3D Systems, headquartered in Rock Hill, South Carolina, is a company that engineers, manufactures and sells 3D printers. Chuck Hull, the CTO, and former president invented stereolithography in 1986.
ExOne is a global leader in additive manufacturing technology, providing industrial 3D printing systems and services.
Arcam, founded in 1997, provides the leading technology for Additive Manufacturing of fully dense metal parts, Electron Beam Melting (EBM).
Materialise incorporates more than 25 years of 3D printing experience into a range of software solutions and 3D printing services for medical and manufacturing.
Stratasys is the global leader in 3D printing and additive solutions, materials, and services – delivering speed, innovation, performance and customization.
To learn more about the companies dominating the market, view our report.
Technavio’s report is highlighted by an in-depth analysis and predictions on customer needs such as the demand for customized driving the immense growth of the global 3D printing market size. Technavio’s market research insights also cover the variety of factors accelerating growth in the 3D printing industry and its related markets in the educational and medical education sectors. Comprehensive analysis of the global as well as regional markets of the 3D printing market; including a detailed analysis of what is leading to growing demand from the Americas, EMEA, and the APAC region.
Technavio is a global market research company specializing in niche and emerging technologies. The company has published over 15,000 reports on hundreds of industries and technologies, serving more than 1,000 organizations globally and over 100 Fortune 500 companies. Its offerings include syndicated research, subscription services, and custom research offerings to help businesses make fast, effective, well-founded decisions. Headquartered in London, UK and with offices across 7 countries, Technavio’s 500 in-house analysts and 16 years of experience allow the company to offer unmatched insights into countless markets. Discover what Technavio can do for you at https://www.technavio.com/.
If you are interested in more information, please contact our media team at media@technavio.com
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
