3D Printing Market Projected to Reach $94.0 Billion by 2030

 

WILMINGTON -- 3D Printing Market Size, Share, Competitive Landscape and Trend Analysis Report, by Technology, by Application : Global Opportunity Analysis and Industry Forecast, 2020-2030

The global 3d printing market was valued at $13.2 billion in 2020 and is projected to reach $94.0 billion by 2030, growing at a CAGR of 22.1% from 2021 to 2030.

3D printing, commonly known as assistive printing technology, is an enhanced manufacturing process designed to enable users to create models utilizing a wide range of printing materials. Polymers, metals, ceramics, and other materials are among the materials utilized in 3D printing. Moreover, the printing medium chosen is determined by the characteristics of the printed product as well as the region of application. Certain 3D printers can create models using various materials at the same time, which simplifies the production process. In addition, the uses of 3D printing service have grown rapidly as it provides better speed, higher precision, and finer resolution.

The growth of the 3D Printing market is majorly driven by government investments in 3D printing projects coupled with ease in development in customized products. Furthermore, a reduction in manufacturing cost and process downtime is anticipated to drive the growth of the market. However, lack of standard process control and limited availability &high cost associated with 3D printing materials act as prime restraints of the market. On the contrary, the rise in utilization of 3D printing in healthcare sectors and applications in various industries paired with improved manufacturing processes are anticipated to provide lucrative opportunities for the expansion of the 3D Printing industry during the forecast period.