3D Printing Market 2021 with COVID-19 After Effects – Growth Drivers, Top Key Players, Industry Segments and Forecast to 2027
3D Printing Market 2021 with COVID-19 After Effects –
Growth Drivers, Top Key Players, Industry Segments and
Forecast to 2027
The Global 3D Printing Market was valued at USD 14.2 Bn in 2020 is expected to reach USD 55.5
Bn by 2027, with a growing CAGR of 21.5% during the forecast period.
3D printing technology enhances the manufacturing process of the final merchandise throughout
an extensive range of end-use verticals. The utilization of 3D printing is growing constantly
throughout numerous industries, and it is benefiting expert surroundings financially and
operationally with improved performance and cost-effectiveness. Currently, there was a huge
growth in the demand for 3D printing, because the customers are inclined more towards the
custom-designed merchandise and price-efficient solutions and increasing demand for
automation throughout different industries.
Based on the end-use industry, the 3D printing market has been segmented into automotive,
aerospace and defense, healthcare, architecture and construction, consumer products, and
others. The automotive segment accounted for almost 35% share in the market in 2019 and
further expected to lead the 3D printing market during the forecast period. Latest developments
in 3D printing materials which are more suitable for advanced automobiles is one of the key
driving factors for this segment. Additionally, growth in the automotive industry in the past few
years and early adoption of 3D printing technology is propelling the segmental growth.
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The high cost of raw materials and limitations regarding product size are some of the factors which
are creating a major hindrance for its market growth. However, government initiatives to attract
foreign investments in 3D printing projects is anticipated to offer multiple growth opportunities
during the forecast period.
Global 3D Printing Market by Re