The 3D printing market will reach $148.4 billion by 2032
The global 3D printing market is expected to create an absolute dollar opportunity with a valuation of $22.9 billion by 2022, according to Future Market Insights.
The market is expected to grow with an impressive CAGR of 20.5% by 2022-2032, while the 3D packaging market share is expected to be valued at around $148.4 billion by the end of 2032.
According to IMF reports, the market is expected to accelerate at a steady pace owing to active R&D in three-dimensional printing, as well as growing preference for prototype applications from different industry verticals that are sure to gain momentum. accelerate market growth.
Similar to any other modern technology, 3D prints didn’t sell much in their early years due to their high price tag, but in 2014 over $2 billion in sales were reported by the global 3D printing market. 3D printing, and surprisingly enough, not all of them. sales were driven by large publicly listed companies. On the contrary, it was increasingly used by the entertainment and media industry. It has been predicted that existing transportation companies and component manufacturers will all experience severe short-term disruption due to 3D printing market trends.
Due to its versatile use in all industries that goes beyond mere prototyping, it is expected to sustain the growth of the 3D printing market during the forecast period 2022-2032. 3D printers for beginners can produce a wider range of subjects faster, bigger, and with more efficiency and finish.
According to the report, the year 2017 was marked by flawless sales in the 3D printing market with total revenue from all companies combined of around US$9.6 billion in that year. According to the previous 3D printing market analysis report by IMF, the annual growth rate of the industry was significantly above 10% in the following years.
Global exports of 3D printers were estimated at 2.2 million units in 2021, and sales are expected to reach 25 million by 2032. With more and more materials potentially 3D printable, its global sales are skyrocketing .
According to FMI, mixed material printers are becoming more prevalent and boosting the 3D printing business, its applicability in multiple end-use verticals, driving sales acceleration in the 3D printing market.
Across various industry verticals, modeling, prototyping, and forging are some of the most popular industrial applications driving opportunities in the 3D printing market. For training and technical studies, academic institutions and research centers are also adopting flash forge 3D printers and driving the market.
The European market is expected to become the second largest regional 3D printing market, with an overall market share of 28.5%.
North America dominated the global 3D printing market and generated more than 35% of global revenue in 2022. Industries in the United States and Canada are widely adopting additive manufacturing, which has driven the growth of the 3D printing market.
In terms of geographic segmentation, the US 3D printing market is the dominant region for the target market. Due to the presence of several players in the additive manufacturing industry who have in-depth technical knowledge of the procedures, the net worth of the 3D printing market is estimated to be around US$5.76 billion in the United States .
With an expected CAGR of 21.63% for the Asia-Pacific region over the projection period, it is considered the fastest growing among all major geographies.
According to IMF analysis, the Asia-Pacific region is divided into the geographical regions of East Asia and South Asia with a net worth of US$4.3.7 billion and US$2.2 billion. US respectively for the year 2022. Advancements in the industrial sector in the region have contributed to the rapid adoption of 3D printing in Asia-Pacific countries.