3D printing is reshaping industries and revolutionizing how we create products. From its humble beginnings to its current status as a global market force, 3D printing continues to grow at an exponential rate. In this article, we examine the key statistics on 3d printing and trends shaping the 3d printing industry growth, providing an in-depth look at its growth, future projections, market segmentation, and more. Join us as we explore the fascinating journey of 3D printing and its transformative impact on our world.
Global Market Overview
The global 3D printing market is experiencing unprecedented growth, with North America leading the charge, holding over 30% of the market in 2022. According to 3d printing industry trends, the United States alone contributed $3.1 billion, accounting for 22% of the market. Europe is not far behind, housing 52% of all 3D printing businesses. The UK, with a 3D printing market estimated at £468 million, ranks as the second-largest in Europe and fifth globally.
Future Projections and Growth
The innovation of 3d printing is set for explosive growth, expected to increase by 20.8% annually by 2030, potentially reaching a value of $62.76 billion (£48.88 billion). Similarly, the global innovative 3D printer market size is predicted to increase by $25 million at a CAGR of 23.49% between 2022 and 2027.
Market Segmentation and Material Usage
Interestingly, hardware dominates the 3D printing market, accounting for over 63% when segmented into software, hardware, and services. Metal is the primary material used in 3D printing, contributing over 48% of global revenue. The ceramics market, despite its novelty, was expected to grow at a CAGR of 23.3% in 2022.
Industrial and Manufacturing 3D Printing Trends
Industrial printers hold a significant share of the 3D printing market, accounting for more than 76% of global sales. As a testament to the technology’s effectiveness, 49% of poll participants in 2022 reported using 3D printing for manufacturing runs involving more than ten items.
Emerging Markets and Technologies
The market for functional components in 3D printing applications is expected to experience rapid growth, with a CAGR of 21.5% from 2021 to 2028. By 2026, the market for CAD software and on-demand parts services is estimated to have tripled. The most popular technology in 3D printing is fused deposition modeling (FDM) or fused filament fabrication (FFF), while stereolithography (SLA) is being phased out in favor of speedier technologies.
Investment in 3D Printing
Investment in 3D printing technology is also rising, with 61% of users expressing a desire to increase their investment. In 2018 trend report , over $300 million in venture capital funding was provided to 3D printing startups.
In conclusion, the 3D printing industry is experiencing significant growth worldwide, driven by advancement in 3d printing technology, increasing investment, and a shift towards more sustainable materials. As the market continues to evolve, the potential of 3D printing technology is only set to increase, offering exciting opportunities for businesses and consumers alike.