Global 3D printing market was valued at USD 13.84 billion in 2021, and it is expected to reach a value of USD 51.95 billion by 2028, at a CAGR of 20.80% over the forecast period (2022-2028).
Westford, USA, Aug. 08, 2022 (GLOBE NEWSWIRE) -- 3D printing is quickly becoming one of the most popular technologies in the world. It has been used to create everything from prosthetic body parts and surgical implants to customized eyeglasses and airplane parts. The applications of 3D printing are only going to continue to increase in the future. This is because 3D printing is able to create complex objects very quickly and with high accuracy.
One of the biggest benefits of 3D printing market is that it can be used to create custom objects quickly and relatively cheaply. This means that it can be used in a variety of different industries, including manufacturing, construction, and medical research.
10 million 3D Printers to be Sold by 2030
Although the exact number of 3D printers to be sold by 2030 is impossible to predict with complete accuracy, SkyQuest analysis expect that the sales of 3D printers will continue to grow at a healthy CAGR of 20.38%. In 2015, global sales of 3D printers reached an estimated 0.8 million, and by 2019 this figure increased 1.5 million, and is projected to surpass a 10 million mark by 2030.
One key factor driving the growth of 3D printing market sales is the decreasing cost of these devices. In 2014, the average price of a consumer-grade 3D printer was approximately $1,000. Just two years later, in 2016, the average price of low-cost 3D printers has dropped to less $400. This decrease in prices is making 3D printers more affordable for a wider range of consumers and businesses, which is helping to drive growth in sales. On the other hand, industrial and professional 3D printer cost has come down to around $10,000 and $5,000 respectively, which used to more than $20,000 in 2015.
The demand for 3D printing is expected to grow in the coming years, as the costs and technological developments for the technology decline. This is especially true for medical applications, which are expected to account for a large share of future growth.
3D printing has already revolutionized manufacturing processes, and it is expected to do even more in the future. The technology can be used to produce customized products, which is why it is often used to create medical devices.
Advantages of 3D printing over other manufacturing processes include the ability to produce multiple copies of a product with minimal mistakes. Additionally, 3D printing is faster than other methods and it does not require specialized equipment. This makes it suitable for small businesses and Manufacturing Enterprises who need quick turnaround times on products.
SkyQuest has published a report 3D printing market that primarily focuses on demand and sales of 3D printers by application and end-use industry. The report also provides a detailed insights into number of units sold in each sector and their major buyers by region. This would help the market participant to identify market opportunities and target their potential consumers in the global 3D printing market. To get a detailed market analysis, pricing analysis, value chain and supply chain optimization, and forecast,
Get sample copy of this report:
https://skyquestt.com/sample-request/3d-printing-market
Automotive Industry Generates 27% of Sales in Global 3D Printing Market
The automotive industry generates a significant chunk of the global 3D printing market. As per SkyQuest Technology, the automotive industry generated 27% of sales in the global 3D printing market in 2021 and is projected to continue expanding their market share at a CAGR of around 22.3% in the years to come as the application area expands. As of 2021, the automotive industry generated market revenue of $2.3 billion and is projected attain a market value of $11.87 billion by 2028.
A number of factors are contributing to the growth in the automotive industry and 3D printing is one of them. Automotive companies are increasingly turning to 3D printing technology for various reasons. Some of the reasons include replacing parts with customized parts, manufacturing prototypes faster and more cost-effectively, and creating models for Toyota's Arcturus concept cars.
3D printing has also revolutionized the design process for carmakers. Instead of creating a model using 2D drawings, carmakers now use 3D prints to create accurate models that can be used for engineering and manufacturing purposes.
This report by SkyQuest on global 3D printing market provides a snapshot of the market trends and projections for 3D printing in the automotive industry. It provides insights on how this technology is changing the way carmakers work and helps to identify future opportunities.
Healthcare Holds 20% of Global 3D Printing Market
As per SkyQuest analysis, healthcare to generate a revenue of $5.8 billion by 2030. With rapidly changing market dynamics in the global healthcare market and advancing applications of 3D printing in healthcare domain, the market is projected to grow at a CAGR of around 20.9% until 2030.
While the healthcare industry only holds a 20% share of the global 3D printing market, it is clear that this technology is having a profound impact on how medical care is delivered. In particular, 3D printing is being used to create custom prosthetics and implants, as well as to produce models of organs and body parts for surgical planning. Additionally, 3D-printed pharmaceuticals are beginning to enter the market, offering patients personalized medication dosing based on their specific needs.
Medical implants and tissue engineering are booming industries that are seeing growing demand from patients all around the world. One reason for this increased demand is the advancement in 3D printing technology.
3D printing has revolutionized the manufacturing process for medical devices, and it is now more common than ever to find devices being printed using 3D printers. This is in part due to the fact that 3D printing is both cost-effective and accurate. Globally more than 30 million medical implants are done. Wherein, the US is the largest country and is holding higher market share. For instance, every year, the country witnesses over 1 million implants are being done for hip and knee replacement. On other hand more than 3 million dental implants taken place annually. This represents a huge opportunity and potential for 3D printing market for production of medical implants. As per SkyQuest analysis, the global market is flooded with at least 2 million types of medical devices, which is significantly huge.
In addition to medical devices, 3D printing is also being used to create tissues and organs for medical use. These tissues and organs can help to improve the quality of life for patients who have lost their own tissue or organ due to injury or disease. From the last few years, the global 3D printing market has been witnessing a significant surge in the demand for cosmetic and plastic surgeries. For instance, in 2021, more than 1.4 million surgical and non-surgical procedures were performed and this number is expected to grow at a CAGR of over 15.8% in the years come. As the number of procedures increases, it offers lucrative opportunity for the market participants since the demand for customized tissue is getting huge attention.
SkyQuest Technology has identified underlying market opportunities in the global 3D printing market by application and prepared report that answers how the market is advancing, where the demand is coming from, what are the market trends, which country and region has the most potential consumers, what are the government policies, and how end-users are responding in the market. The report also focuses on number of players active in the market, their market share, competitive landscape, and growth strategies. This comprehensive report would help you in identifying the most potential growth opportunities that the competitors have missed and provide deeper insights on how the market is performing across the globe. To get a detailed market analysis,
Browse summary of the report and Complete Table of Contents (ToC):
https://skyquestt.com/report/3d-printing-market
Recent Developments in 3D Printing Market
Researchers at Rutgers University and the University of Louisville have developed a Fused Filament Fabrication (FFF) system that’s capable of using multiple nozzles to rapidly 3D print different areas of the same part on a single gantry. The 3D printer is double the speed of standard FFF
In July 2022, a state of art 3D printing facilities is opened at Bengaluru, India
In March 2022, The Department of Science and Innovation (DSI) of South Africa started a pilot project to use 3D printing technology to construct about 25 homes in an effort to address the housing shortage there.
In March 2022, The INDUSTRY F421 industrial FFF machine was introduced by 3DGence, a European company, and is suitable for high performance materials. The company has also released AS9100, a brand-new high-temperature filament that is approved for use in the aerospace and defense industries and produced using polyether ether ketone (PEEK).
In February 2022, Imaginarium partnered with Ultimaker to introduce desktop & industrial 3D printer range in the India market. In India, where additive manufacturing is anticipated to make significant strides in the following years, this alliance will aid Ultimaker in growing its operations there.
In May 2021, GE Additive partnered with Protolabs and fashion designer Zac Posen to construct four gowns and a headdress for showing at the Met Gala. Electron-beam melting (EBM), Multi Jet Fusion (MJF), and stereolithography (SLA) technology were used across the items to fulfil the design requirements of wearable clothes.
Top Players in Global 3D Printing Market
Made in Space, Inc. (US)
General Electric Company (GE Additive) (US)
Speak to Analyst for your custom requirements:
https://skyquestt.com/speak-with-analyst/3d-printing-market
Related Reports in SkyQuest’s Library:
Global Smart Water Metering Market
Global IOT Connected Machines Market
Global Network Attached Storage Market
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
Email: sales@skyquestt.com
LinkedIn Facebook Twitter
Yahoo Finance Live's Brian Sozzi breaks down the stat of the day.
John Mackey is bowing out in the battle between CEOs and a new generation entering the workforce, but as he told "Reason," he’s not leaving silently.
Alibaba Group Holding Limited (NYSE: BABA) and Tencent Holding Ltd (OTC: TCEHY) submitted the algorithm details of some of their products to China's top internet watchdog, Reuters reports. The submission was a part of China's sweeping crackdown on the sector. The internet platforms faced flak for abusing algorithms to invade user privacy and manipulate their choices. The Cyberspace Administration of China (CAC) published a list of 30 algorithms used in some of the country's most popular apps, in
In this article, we discuss 10 cheap oil stocks to buy today. If you want to skip our detailed analysis of these stocks, go directly to 5 Cheap Oil Stocks to Buy Today. With WTI crude oil prices topping $120 per barrel as recently as mid-June, concerns over rising interest rates and a potential U.S. […]
Billionaire Mark Cuban is the latest celebrity on the receiving end of investor ire. A group of Voyager Digital customers filed a class-action suit in Florida federal court against Cuban, as well as the basketball team he owns, the Dallas Mavericks, alleging their promotion of the crypto platform resulted in more than 3.5 million investors losing $5 billion collectively. Voyager Digital's CEO, Stephen Ehrlich, was also named as a defendant in the suit.
(Bloomberg) -- Mexico — which imports nearly all of the natural gas it burns — has laid out a somewhat surprising mission: to become one of the world’s top exporters of the fuel, and fast.Most Read from BloombergAuthor Salman Rushdie Attacked on Lecture Stage in New YorkThe Fed’s Damage to the Housing Market May Last YearsStriking Drop in Stress Hormone Predicts Long Covid in StudyTrump Calls for Release of Warrant Documents Used in SearchPutin’s War Sends Russian Economy Back to 2018 in Single
Analysts at Goldman Sachs said commodity markets were behaving irrationally, and warned of "unsustainable prices." Prices and inventories are falling, while demand is beating expectations and supply is disappointing, they said in a note late Thursday. Normally, a combination of higher demand and lower supply would make prices rise. The bank lowered its forecast for Brent prices earlier this week. It now predicts $125 a barrel in three months' time and $120 a barrel in 12 months. Goldman Sachs pr
(Bloomberg) -- Five of China’s largest state-owned companies announced plans to delist from US exchanges as the two countries struggle to come to an agreement allowing American regulators to inspect audits of Chinese businesses.Most Read from BloombergAuthor Salman Rushdie Attacked on Lecture Stage in New YorkTrump Calls for Release of Warrant Documents Used in SearchThe Fed’s Damage to the Housing Market May Last YearsStriking Drop in Stress Hormone Predicts Long Covid in StudyPutin’s War Sends
Five Chinese state-owned companies said they intend to delist their American depositary shares from the New York Stock Exchange, as financial regulators in Beijing and Washington remain at loggerheads over U.S. audit requirements. In separate filings to Hong Kong’s stock exchange Friday, PetroChina , China Petroleum & Chemical , Aluminum Corp. of China , China Life Insurance Co , and Sinopec Shanghai Petrochemical Co said they have notified the NYSE that they plan to voluntarily delist their American depositary shares.
The “crying CEO” said he never intended to become a viral phenomenon. Braden Wallake’s emotional LinkedIn post about having to lay off employees at his Ohio-based marketing-services company became the talk of social media this past week. “I think I have 22,000 connections on LinkedIn and for most of my posts I get 20 engagements and a couple of comments,” he said in an interview on Friday afternoon.
Berkshire Hathaway's 13F filings don't tell the full story about the company's holdings.
Let's check out a few charts of crude oil prices to see if the rally is resuming. In this daily bar chart of the nearby crude oil futures contract, below, we can see that prices are trying to regain their strength and close back above the rising 200-day moving average line. The daily On-Balance-Volume (OBV) looks like it has been improving in August.
Not taking your job too seriously has a new name: quiet quitting. The phrase is generating millions of views on TikTok as some young professionals reject the idea of going above and beyond in their careers, labeling their lesser enthusiasm a form of “quitting.” It isn’t about getting off the company payroll, these employees say.
In this article, we discuss the 10 semiconductor stocks that US politicians are buying. If you want to read about some more semiconductor stocks that US politicians are buying, go directly to US Politicians are Buying These 5 Semiconductor Stocks. The global semiconductor industry has been one of the biggest winners of the rising inflation […]
Retirement planning can be tricky. These retirement planning tips can help you figure out the best way to save smarter if you're in your mid-60s and beyond.
After four years stuck in bankruptcy limbo, Sears Holdings and its creditors have reached a settlement with former Chief Executive and majority shareholder Eddie Lampert and other investors, clearing the path for the once-storied retailer to execute its bankruptcy plan.
Egypt will soon begin to ration electricity used for street lights, sporting venues, and government buildings, and set the air conditioning in shopping malls to a higher temperature, Prime Minister Moustafa Madbouly said on Aug. 10. The goal, he said, is to leave more gas available for export—to countries suffering their own gas shortages.
Electra Battery Materials Corporation (NASDAQ: ELBM) (TSX-V: ELBM) ("Electra") today announced the filing of its financial results for the second quarter ended June 30, 2022, and provided an update on the commissioning of its cobalt refinery located north of Toronto. All amounts are in Canadian currency unless stated.
U.S. manufacturing would make certain vehicle models eligible for a tax credit under the Inflation Reduction Act, a $430 billion bill focused on lowering healthcare costs, promoting clean energy and increasing corporate taxes. Demand for electric vehicles has surged as countries worldwide chase cleaner transport options and seek to achieve net-zero carbon emissions targets to tackle climate change. Production of the Ocean sports utility vehicle (SUV) is slated to begin this November at contract manufacturer Magna International's Austrian unit.
U.S. gas futures jumped about 8% on Thursday on talk of increased gas flows to the Freeport LNG plant, a drop in gas output and forecasts for more demand for the fuel over the next two weeks than previously expected. Freeport LNG started to pull in small amounts of pipeline gas to feed a power plant that sold electricity to the Texas grid in mid-July. Meanwhile, Freeport LNG retracted the force majeure it initially declared after the explosion in June, a development that could cost its buyers billions of dollars in losses.