The global 3D printing market is estimated to generate revenue of USD 36.8 billion by 2027, witnessing a 22.1% CAGR during the forecast period. The mounting development of customized products, reduced manufacturing cost and process downtime, support from government investment in 3D printing projects, advancement in new industrial-grade 3D printing materials will further propel the growth in the 3D printing market. The rapidly growing digitalization, adoption of developed technologies like Industry 4.0, smart factories, robotics, machine learning will accelerate the growth of online 3D printing for simulation purposes.

The COVID-19 pandemic has led to immediate disruption in the supply chain and production. The industry players need to reduce the operational cost which will restrict investment in new 3D technologies, resulting in hindering the growth of the 3D printing market.

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Based upon application, the global 3D printing market is divided into healthcare, automotive, printed electronics, architecture & construction, consumer products, education, aerospace & defense, jewelry, energy, industrial, food & culinary, and others. The aerospace and defense, healthcare, and automotive industries are expected to grow substantially owing to the growth of industrial additive manufacturing and the adoption of technology in different processes in these industries.

North America dominates the 3D printing market owing to the widespread adoption of additive manufacturing in the U.S. and Canada. North America is becoming an emerging manufacturing hub for the automotive and healthcare industry in the 3D printing market. Moreover, a stronghold in the production of consumer electrics, rapid R&D investment, urbanization will accelerate the growth of the 3D printing market in the region.

Key players operating in the 3D printing industry Materialise NV, Stratasys Ltd., 3D Systems Corporation, Envisiontec GmbH, The Exone Company, Sciaky Inc., Voxeljet AG, SLM Solutions Group AG., Proto Labs, Arcam Group, and Mcor Technologies Ltd.

Source: VynZ Research