Industrial 3D Printing Market Size Global Forecast to 2026 | MarketsandMarkets

Posted by Steve Stark on February 28th, 2022

The industrial 3D printing market is projected to grow from USD 2.1 billion in 2021 to USD 5.2 billion by 2026; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 20.0% from 2021 to 2026.

Industrial 3D printing technology is transforming from prototyping to high-volume production. Mass production using 3D printing can significantly reduce time to market by eliminating traditional tooling methods and cutting lead times on prototypes and end-use parts. The industrial 3D printing market has been segmented based on offering, process, technology, application, industry, and geography. These market segments are further analyzed on the basis of market trends across the four regions considered in this study.

Driver: Increased focus on high-volume production using 3D printing

Industrial 3D printing technology is transforming from prototyping to high-volume production. Currently, 3D printing is considered a suitable technology for low- to mid-volume production. However, opportunities for high-volume production with 3D printing are expected to emerge in the future. High-volume additive manufacturing (AM) refers to the use of 3D printing systems and processes for production at volumes less than 1 million units. The advantage of high-volume AM is its ability to support a large mix of products. By eliminating tooling, a single 3D printing system and the process can create numerous products of different designs in a batch. In highly competitive industries, time to market is a deciding factor determining a brand’s success. Mass production using 3D printing can significantly reduce time to market by eliminating traditional tooling methods and cutting lead times on prototypes and end-use parts.

Restraint: High capital requirement for additive manufacturing

Buying an industrial 3D printer can be a high capital expense for a company all on its own. For instance, a Metal FDM printer costs around USD 100,000, whereas an SLM printer costs ~USD 200,000. Additionally, it often involves investments in hiring staff to set up software, provide maintenance, and purchase and install materials. Fixed costs such as the costs associated with 3D printers, service contracts, installation, and maintenance together add to the total equipment ownership cost. These expenses arise regardless of whether the 3D printer is idle or produces dozens of parts a week. In addition, raw 3D printing materials and other consumables required to create parts are available at varying prices. Powdered metals used in 3D printers can be expensive and cost-prohibitive, especially when used to manufacture large items. Besides, an additive manufacturing setup may require reconfiguration of overall operations. Another point of concern for end users is the cost associated with pre- and post-processing of 3D-printed items. Post-processing workflows vary based on the 3D printing process, but in most cases include cleaning of parts and removal of supports or excess materials. For instance, FDM parts require lengthy manual post-processing to improve the quality and remove layer lines.

Opportunity: Smart manufacturing with Industry 4.0

The 3D printer is a vital part of Industry 4.0. Leading corporates and consultants worldwide are making substantial investments in gaining 3D printing knowledge and enhancing capabilities to advise and join their clients in the Industry 4.0 trend and revolutionize supply chains, product portfolios, and business models. A few important factors that are fueling the adoption rate of industrial 3D printers are printing speed, quality, safety, low environmental impact, and advancements in related software. In the industrial sector, many manufacturing companies are set to benefit by adopting 3D printing technology at the earliest.

3D printing and Industry 4.0 are being promoted through several initiatives worldwide. DFactory BCN is one such initiative undertaken by the Consorci de la Zona Franca de Barcelona (CZFB) organization with the aim to become the largest Industry 4.0 hub in southern Europe. Additionally, the facilities of the 3D Factory Incubator, Europe’s first high-tech incubator in 3D printing, has more than 50 companies specializing in AM. Project DIAMOnD in Michigan, US, seeks to help bring manufacturing into the revolution of Industry 4.0. The maturity of the technology, wide range of possibilities offered by 3D printing, and high emphasis by institutions are expected to establish additive manufacturing as a leading technology in multiple industries in the future.

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Challenge: Adverse impact of large-scale 3D printing on environment

Plastic filament is a widely used material for 3D printing. While it is relatively inexpensive, its byproduct ends up in landfills. The widespread use of 3D printing can lead to a significant release of byproducts, which can affect the environment. Another issue regarding 3D printing is energy use. 3D printers consume about 50–100 times more electrical energy than traditional injection molding when making an item of the same weight. Laser direct metal deposition, on the other hand, uses more than 100 times the electricity as traditional foundry machines. 3D printers for industrial applications must be equipped with exhaust ventilation or filtration accessories and be used in an adequately ventilated environment.