3D Printing Market for Automotive and Aerospace Industry - HARD COPY

3D Printing Market for Automotive and Aerospace Industry - HARD COPY

Global 3D Printing Market for Automotive and Aerospace Industry: Focus on Technology, Material Type and End-use - Analysis and Forecast (2018-2023)

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Rapid growth in technological advancements, innovative designing, and development of a wide variety of materials are the factors propelling the development of the 3D printing market. Various companies across the globe are actively adopting 3D printing technology to develop prototypes and to manufacture end user products with the help of suitable materials and different processes. The usage of 3D printing in aerospace and automotive industries saves a lot of time and manpower, as it provides faster printing speed, higher accuracy, and helps in avoiding the post-manufacturing processes. Although the 3D printing market currently occupies a low share in the manufacturing industry all over the world, there can be witnessed a gradual increase in the market due to rising awareness across the industry, high adaptability, various intensive research and development and increasing government initiatives to adopt 3D printing for mass production of functional parts in industry verticals such as automotive and aerospace.

The 3D printing market for aerospace and automotive industry varies according to various geographical regions. The 3D printing market for aerospace and automotive industry holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). Geographically, North America led the global 3D printing market for aerospace and automotive industry in 2017 in terms of value. Additionally, APAC region is expected to witness the highest growth during the forecast period (2018-2023). Growing automotive industry and adoption of 3D printing technology for mass production are some of the factors expected to contribute to the market growth in the APAC region.
The global 3D printing market for aerospace and automotive industry has witnessed several strategic and technological developments in the past few years, undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the strategies covered in this section are product launches & development, business expansion, partnerships and collaborations, and mergers and acquisitions. The preferred strategy for the companies has been business expansion in order to strengthen their position in the global 3D printing market for aerospace and automotive industry.
The key market players in the global 3D printing market for aerospace and automotive industry are Stratasys Ltd., Materialise NV, 3D Systems, Inc., SLM Solutions Group, General Electric, Arkema, BASF SE, HP Development Company, L.P., Proto Labs, Evonik Industries AG, Royal DSM, EOS GmbH, Ultimaker B.V., Formlabs, Inc., ENVISIONTEC, INC., and Markforged, Inc.
The report is a compilation of different segments of the global 3D printing market for aerospace and automotive industry including market breakdown by technology, material-type, end-use, and region. The report further takes into consideration the market dynamics and the competitive landscape. The report also discusses in detail about the key participants involved in the industry. The report answers the following questions about the global 3D printing market for aerospace and automotive industry:
Key questions answered in the report
• What are the trends in the global 3D printing market for aerospace and automotive industry across different regions?
• What are the major driving forces that tend to increase the demand for the global 3D printing market for aerospace and automotive industry during the forecast period, 2018-2023?
• What are the major challenges inhibiting the growth of the global 3D printing market for aerospace and automotive industry?
• What was the revenue generated by the global 3D printing market for aerospace and automotive industry by technology in 2017, and what will be the estimates by 2023?
• Which material type (thermoplastic, metal and others) of the global 3D printing market for aerospace and automotive industry will dominate in the coming years?
• Which type of thermoplastic material will dominate the global 3D printing market for aerospace and automotive industry in the coming years?
• What is the revenue generated by the different technologies such as fused deposition modeling, stereolithography, selective laser sintering, polyJet, material jetting, selective laser melting and others?
• What is the revenue generated by each material used in aerospace and automotive industry?
• Who are the key players in the global 3D printing market for aerospace and automotive industry?
• What are the new strategies adopted by the existing market players to make a mark in the industry?
• What major opportunities do the 3D printing technology providers and material manufacturers foresee?
• What is the competitive strength of the key leading players in the global 3D printing market for aerospace and automotive industry?
Executive Summary
1 Market Dynamics
1.1 Market Drivers
1.1.1 Increasing Government Initiatives
1.1.2 Increasing Fuel Efficiency Requirements
1.1.3 Advancing 3D Printing Technology
1.2 Market Restraints
1.2.1 Higher Initial Investments
1.2.2 High Prices of Raw Materials used for 3D Printing
1.2.3 Lack of Skilled Labor
1.3 Market Opportunities
1.3.1 Evolving Start-ups and their Partnerships with Key Players in the Market
1.3.2 3D Printing for Mass Scale Production

2 Competitive Insights
2.1 Key Market Developments and Strategies
2.1.1 Business Expansions
2.1.2 Product Launches
2.1.3 Partnerships, Collaborations, and Joint Ventures
2.1.4 Mergers and Acquisitions
2.2 Market Share Analysis
3 Industry Analysis
3.1 Supply Chain Analysis
4 Global 3D Printing Market for Automotive and Aerospace Industry (by Technology), $Million, 2018 and 2023
4.1 Market Overview
4.2 Fused Metal Deposition
4.3 Stereolithography
4.4 Selective Laser Sintering
4.5 PolyJet
4.6 Material Jetting
4.7 Selective Laser Melting
4.8 Others
5 Global 3D Printing Market for Automotive and Aerospace Industry (by Material), $Million, 2018 and 2023
5.1 Thermoplastics
5.1.1 Acrylonitrile Butadiene Styrene (ABS)
5.1.2 Polycarbonate (PC)
5.1.3 Nylon/Polyamide
5.1.4 Others
5.2 Metals
5.2.1 Aluminum
5.2.2 Stainless Steel
5.2.3 Titanium
5.2.4 Inconel
5.3 Others
6 Global 3D Printing Market for Automotive and Aerospace Industry (by End-use), $Million, 2018 and 2023
6.1 Automotive
6.2 Aerospace
7 3D Printing Market for Automotive and Aerospace Industry (by Region), $Million, 2018 and 2023
7.1 North America
7.1.1 The U.S.
7.1.2 Canada
7.1.3 Mexico
7.2 Europe
7.2.1 Germany
7.2.2 The U.K.
7.2.3 France
7.2.4 Italy
7.2.5 The Netherlands
7.2.6 Rest-of-Europe
7.3 Asia-Pacific
7.3.1 China
7.3.2 Japan
7.3.3 India
7.3.4 South Korea
7.3.5 Rest-of-Asia-Pacific
7.4 Rest-of-the-World
8 Company Profiles
8.1 Overview
8.2 3D Systems, Inc.
8.2.1 Company Overview
8.2.2 Product Portfolio
8.2.3 Financials
8.2.3.1 Financial Summary
8.2.4 SWOT Analysis
8.3 Arkema
8.3.1 Company Overview
8.3.2 Product Portfolio
8.3.3 Financials
8.3.3.1 Financial Summary
8.3.4 SWOT Analysis
8.4 BASF SE
8.4.1 Company Overview
8.4.2 Product Portfolio
8.4.3 Financials
8.4.3.1 Financial Summary
8.4.4 SWOT Analysis
8.5 EnvisionTEC
8.5.1 Company Overview
8.5.2 Product Portfolio
8.5.2.1 Corporate Summary
8.5.3 SWOT Analysis
8.6 EOS GmbH
8.6.1 Company Overview
8.6.2 Product Portfolio
8.6.2.1 Corporate Summary
8.6.3 SWOT Analysis
8.7 Evonik Industries AG
8.7.1 Company Overview
8.7.2 Product Portfolio
8.7.3 Financials
8.7.3.1 Financial Summary
8.7.4 SWOT Analysis
8.8 FormLabs Inc.
8.8.1 Company Overview
8.8.2 Product Portfolio
8.8.2.1 Corporate Summary
8.8.3 SWOT Analysis
8.9 General Electric
8.9.1 Company Overview
8.9.2 Product Portfolio
8.9.3 Financials
8.9.3.1 Financial Summary
8.9.4 SWOT Analysis
8.10 HP Inc.
8.10.1 Company Overview
8.10.2 Product Portfolio
8.10.3 Financials
8.10.3.1 Financial Summary
8.10.4 SWOT Analysis
8.11 Materialise NV
8.11.1 Company Overview
8.11.2 Product Portfolio
8.11.3 Financials
8.11.3.1 Financial Summary
8.11.4 SWOT Analysis
8.12 Proto Labs
8.12.1 Company Overview
8.12.2 Product Portfolio
8.12.3 Financials
8.12.3.1 Financial Summary
8.12.4 SWOT Analysis
8.13 Royal DSM
8.13.1 Company Overview
8.13.2 Product Portfolio
8.13.3 Financials
8.13.3.1 Financial Summary
8.13.4 SWOT Analysis
8.14 SLM Solutions Group
8.14.1 Company Overview
8.14.2 Product Portfolio
8.14.3 Financials
8.14.3.1 Financial Summary
8.14.4 SWOT Analysis
8.15 Stratasys Ltd.
8.15.1 Company Overview
8.15.2 Product Portfolio
8.15.3 Financials
8.15.3.1 Financial Summary
8.15.4 SWOT Analysis
8.16 Ultimaker B.V.
8.16.1 Company Overview
8.16.2 Corporate Summary
8.16.3 Product Portfolio
8.16.4 SWOT Analysis
9 Research Scope & Methodology
9.1 Report Scope
9.2 Global 3D Printing Market for Automotive and Aerospace Industry Research Methodology
9.2.1 Assumptions
9.2.2 Limitations
9.2.3 Primary Data Sources
9.2.4 Secondary Data Sources
9.2.5 Data Triangulation
9.2.6 Market Estimation and Forecast
List of Tables
Table 4.1 3D Printing Market for Automotive and Aerospace Industry (by Technology), 2016–2023
Table 5.1 3D Printing Market for Automotive and Aerospace Industry (by Materials), 2016–2023
Table 5.2 Thermoplastics in 3D Printing Market for Automotive and Aerospace Industry, 2016–2023
Table 5.3 Metals in 3D Printing Market for Automotive and Aerospace Industry, 2016–2023
Table 6.1 3D Printing Market for Automotive and Aerospace Industry, by End-use, 2016–2023
Table 7.1 3D Printing Market for Automotive and Aerospace Industry (by Region), 2016–2023
Table 7.2 North America 3D Printing Market for Automotive and Aerospace Industry (by Technology), 2016–2023
Table 7.3 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.4 U.S. 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.5 Canada 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.6 Mexico 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.7 3D Printing Market for Automotive and Aerospace Industry (by Technology), 2016–2023
Table 7.8 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.9 Germany 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.10 The U.K. 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.11 France 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.12 Italy 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.13 The Netherlands 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.14 Rest of Europe 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.15 3D Printing Market for Automotive and Aerospace Industry (by Technology), 2016–2023
Table 7.16 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.17 China 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.18 Japan 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.19 India 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.20 South Korea 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.21 Rest of Asia-Pacific 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 7.22 3D Printing Market for Automotive and Aerospace Industry (by Technology), 2016–2023
Table 7.23 3D Printing Market for Automotive and Aerospace Industry (by Material), 2016–2023
Table 8.1 3D Systems, Inc.: Product Portfolio
Table 8.2 Arkema: Product Portfolio
Table 8.3 BASF SE: Product Portfolio
Table 8.4 EnvisonTEC: Product Portfolio
Table 8.5 EOS GmbH: Product Portfolio
Table 8.6 Evonik Industries AG: Product Portfolio
Table 8.7 FormLabs Inc.: Product Portfolio
Table 8.8 General Electric: Product Portfolio
Table 8.9 HP Inc.: Product Portfolio
Table 8.10 Materialise NV: Product Portfolio
Table 8.11 Proto Labs: Product Portfolio
Table 8.12 Royal DSM: Product Portfolio
Table 8.13 SLM Solutions Group: Product Portfolio
Table 8.14 Stratasys Ltd.: Product Portfolio
Table 8.15 Ultimaker B.V.: Product Portfolio
List of Figures
Figure 1 Global 3D Printing Market for Automotive and Aerospace Industry Snapshot
Figure 2 Global 3D Printing Market for Automotive and Aerospace Industry (by Technology), 2017 and 2023
Figure 3 Global 3D Printing Market for Automotive and Aerospace Industry (by Region), 2017
Figure 1.1 Market Dynamics
Figure 1.2 Impact Analysis of Drivers
Figure 1.3 Impact Analysis of Restraints
Figure 1.4 Impact Analysis of Opportunities
Figure 2.1 Strategies Adopted by the Key Players
Figure 2.2 Strategies Adopted by the Players in the 3D Printing Industry, 2015-2018
Figure 2.3 Business Expansions Share of Key Market Players, 2015-2018
Figure 2.4 Product Launches Share of Key Market Players, 2015-2018
Figure 2.5 Partnership, Collaboration and Joint Venture Share of Key Market Player, 2015-2018
Figure 2.6 Mergers and Acquisitions Share of Key Market Players, 2015-2018
Figure 2.7 3D Printing Market for Automotive and Aerospace Industry, Market Share Analysis, 2017
Figure 3.1 3D Printing Industry Supply Chain
Figure 4.1 Technologies used in 3D Printing Market for Automotive and Aerospace Industry
Figure 4.2 3D Printing Market for Automotive and Aerospace Industry (by Technology), 2017 and 2023
Figure 4.3 FDM Technology in 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 4.4 SLA Technology in 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 4.5 SLS Technology in 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 4.6 PolyJet Technology in 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 4.7 Material Jetting Technology in 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 4.8 SLM Technology in 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 4.9 Others Technology in 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 5.1 3D Printing Market for Automotive and Aerospace Industry (by Technology), 2017 and 2023
Figure 5.2 Thermoplastics in 3D Printing Market for Automotive and Aerospace Industry, 2017 and 2023
Figure 5.3 Thermoplastics in 3D Printing Market for Automotive and Aerospace Industry, (ABS), 2017 and 2023
Figure 5.4 Thermoplastics in 3D Printing Market for Automotive and Aerospace Industry, (PC), 2017 and 2023
Figure 5.5 Thermoplastics in 3D Printing Market for Automotive and Aerospace Industry, (Nylon/Polyamide), 2017 and 2023
Figure 5.6 Thermoplastics in 3D Printing Market for Automotive and Aerospace Industry, (Others), 2017 and 2023
Figure 5.7 Metals in 3D Printing Market for Automotive and Aerospace Industry, 2017 and 2023
Figure 5.8 Metals in 3D Printing Market for Automotive and Aerospace Industry, (Aluminum), 2017 and 2023
Figure 5.9 Metals in 3D Printing Market for Automotive and Aerospace Industry, (Stainless Steel), 2017 and 2023
Figure 5.10 Metals in 3D Printing Market for Automotive and Aerospace Industry, (Titanium), 2017 and 2023
Figure 5.11 Metals in 3D Printing Market for Automotive and Aerospace Industry, (Inconel), 2017 and 2023
Figure 5.12 Others in 3D Printing Market for Automotive and Aerospace Industry, 2017 and 2023
Figure 7.1 3D Printing Market for Automotive and Aerospace Industry - Regional Segmentation, 2017
Figure 7.2 3D Printing Market for Automotive and Aerospace Industry Growth Rate, 2018-2023
Figure 7.3 U.S. 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 7.4 Canada 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 7.5 Mexico 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 7.6 Germany 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 7.7 The U.K. 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 7.8 France 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 7.9 Italy 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 7.10 The Netherlands 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 7.11 Rest of Europe 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 7.12 China 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 7.13 Japan 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 7.14 India 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 7.15 South Korea 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 7.16 Rest of Asia-Pacific 3D Printing Market for Automotive and Aerospace Industry, 2016-2023
Figure 8.1 Company Profiles by Ownership Type, 2018
Figure 8.2 3D Systems, Inc.: Overall Financials, 2015-2017
Figure 8.3 3D Systems, Inc.: Net Revenue by Business Segment, 2015-2017
Figure 8.4 3D Systems, Inc.: Net Revenue by Region, 2015-2017
Figure 8.5 3D Systems, Inc.: SWOT Analysis
Figure 8.6 Arkema: Overall Financials, 2015-2017
Figure 8.7 Arkema: Net Revenue by Business Segment, 2015-2017
Figure 8.8 Arkema: Net Revenue by Region, 2015-2017
Figure 8.9 Arkema: SWOT Analysis
Figure 8.10 BASF SE: Overall Financials, 2015-2017
Figure 8.11 BASF SE: Net Revenue by Business Segment, 2015-2017
Figure 8.12 BASF SE: Net Revenue by Region, 2015-2017
Figure 8.13 BASF SE: SWOT Analysis
Figure 8.14 EnvisonTEC: SWOT Analysis
Figure 8.15 EOS GmbH: SWOT Analysis
Figure 8.16 Evonik Industries AG: Overall Financials, 2015-2017
Figure 8.17 Evonik Industries AG: Net Revenue by Business Segment, 2015-2017
Figure 8.18 Evonik Industries AG: Net Revenue by Region, 2016-2017
Figure 8.19 Evonik Industries AG: SWOT Analysis
Figure 8.20 FormLabs Inc.: SWOT Analysis
Figure 8.21 General Electric: Overall Financials, 2015-2017
Figure 8.22 General Electric: Net Revenue by Business Segment, 2015-2017
Figure 8.23 General Electric: Net Revenue by Region, 2015-2017
Figure 8.24 General Electric: SWOT Analysis
Figure 8.25 HP Inc.: Overall Financials, 2015-2017
Figure 8.26 HP Inc.: Net Revenue by Business Segment, 2015-2017
Figure 8.27 HP Inc.: Net Revenue by Region, 2015-2017
Figure 8.28 HP Inc.: SWOT Analysis
Figure 8.29 Materialise NV: Overall Financials, 2015-2017
Figure 8.30 Materialise NV: Net Revenue by Business Segment, 2015-2017
Figure 8.31 Materialise NV: Net Revenue by Region, 2015-2017
Figure 8.32 Materialise NV: SWOT Analysis
Figure 8.33 Proto Labs: Overall Financials, 2015-2017
Figure 8.34 Proto Labs: Net Revenue by Business Segment, 2015-2017
Figure 8.35 Proto Labs: Net Revenue by Region, 2015-2017
Figure 8.36 Proto Labs: SWOT Analysis
Figure 8.37 Royal DSM: Overall Financials, 2015-2017
Figure 8.38 Royal DSM: Net Revenue by Region, 2015-2017
Figure 8.39 Royal DSM: Net Revenue by Business Segment, 2015-2017
Figure 8.40 Royal DSM: SWOT Analysis
Figure 8.41 SLM Solutions Group: Overall Financials, 2015-2017
Figure 8.42 SLM Solutions Group: Net Revenue by Business Segment, 2015-2017
Figure 8.43 SLM Solutions Group: Net Revenue by Region, 2015-2017
Figure 8.44 SLM Solutions Group: SWOT Analysis
Figure 8.45 Stratasys Ltd.: Overall Financials, 2015-2017
Figure 8.46 Stratasys Ltd.: Net Revenue by Business Segment, 2015-2017
Figure 8.47 Stratasys Ltd.: Net Revenue by Region, 2015-2017
Figure 8.48 Stratasys Ltd.: SWOT Analysis
Figure 8.49 Ultimaker B.V.: SWOT Analysis
Figure 9.1 Global 3D Printing Market for Automotive and Aerospace Industry Scope
Figure 9.2 Report Design
Figure 9.3 Primary Interviews Breakdown (by Player, Designation, and Region)
Figure 9.4 Sources of Secondary Research
Figure 9.5 Data Triangulation
Figure 9.6 Top-down and Bottom-up Approach
3D printing has long been considered a tool to design and create unique prototypes of objects quickly. With the advancement in 3D printing technology, the framework of the manufacturing industry is currently under the process of transformation. The 3D printing technology has brought a revolutionary change in the manufacturing industry. The first 3D printing prototype was attempted by Dr. Hideo Kodama of Japan in 1980, for developing a rapid prototyping technique. The growing demand for prototyping has substantially reduced the price of 3D printing over the years. Additionally, the innovative products that will be used as prototypes are expected to further reduce the cost of 3D printing. Therefore, 3D printing is expected to significantly impact the manufacturing industry in the future.
The establishment of 3D printing within the manufacturing industry has resulted in high growth of related service providers, 3D printing engineering and consulting services, as well as manufactures for 3D printing materials. The 3D printing technology is anticipated to dominate the manufacturing industry across the globe for 3D printing functional parts, fit and finish components and the molds and tooling segments for aerospace and automotive industry. The rapid speed and flexibility of the 3D printing technology as compared to conventional manufacturing processes, is a boon for manufacturing functional parts such as engine parts, turbines, headlights, and bezels in the aerospace and automotive industry.
In 2017, the global 3D printing market for automotive and aerospace industry in terms of value was valued at $3.07 billion, which is expected to reach $9.36 billion by 2023 with a Compound Annual Growth Rate (CAGR) of 17.86% during the forecast period 2018-2023. This growth is attributed to the reliability and accuracy of 3D printed parts, manufactured using 3D printing technology and their cost effectiveness, as compared to parts manufactured conventionally. Additionally, the growing awareness of 3D printing technology in the emerging economies such as India, South Korea and Thailand, among countries of Asia-Pacific (APAC) regions, has propelled the growth of the global 3D printing market servicing the aerospace and automotive industry.
The 3D printing market has developed significantly since 2014 and much has been attributed to the technological advancements in this field. The ecosystem of 3D printing market comprises material suppliers, 3D printed parts manufacturers, and end users. The market has matured in developed regions such as North America and Europe and is gaining popularity in regions such as Asia-Pacific, Middle East and Africa, and South America. However, barriers such as high investment cost, lack of skilled labor and higher cost of raw materials used are challenges that the 3D printing industry needs to look at.
On the basis of material, the 3D printing market for aerospace and automotive industry includes thermoplastics, metals and others.
Thermoplastics dominated the global 3D printing market for aerospace and automotive industry in 2017 and are anticipated to maintain its dominance throughout the forecast period. Thermoplastics are one of the significant material-types used in 3D printing, with Acrylonitrile Butadiene Styrene (ABS) and Polycarbonate (PC) as the commonly used plastics in the 3D printing market. The demand for ABS and PC type 3D printing materials has grown aggressively because of the increasing awareness of the benefits of 3D printing to manufacture objects using various plastic materials. This growth in demand for ABS and PC type printing materials is expected to continue in the forecast period of 2018 to 2023. As the 3D printing market matures, manufacturers are looking towards exploring new plastic materials which have better printing properties as compared to the traditionally used materials.
On the basis of technology, the 3D printing market for aerospace and automotive industry includes thermoplastics, metals and others. Fused Deposition Modeling (FDM) dominated the global 3D printing market for aerospace and automotive industry in 2017 and is anticipated to maintain its dominance throughout the forecast period. The demand for FDM technology is majorly due to its capability to build tough and durable parts for functional testing and prototyping using high strength materials such as nylon, polycarbonate, and ABS, among others. In addition, FDM technology can process cheaper filaments reducing the final cost of the product used in automotive and aerospace industries.
On the basis of end-use, the automotive industry is expected to register the highest growth rate for the 3D printing market. 3D printing, when used in the automotive sector, can reduce the cost of production and can replace the critical Computer Numerical Control (CNC)-milled parts with in-house manufactured parts. In addition, 3D printed parts are light in weight, reducing the overall weight of the vehicle by 40%, thereby increasing the fuel efficiency of automobiles. Furthermore, the use of 3D printing technology in the automotive industry reduces lead time, transportation cost and inventory costs decreasing the overall cost of the final product.
This report also covers the global 3D printing market for aerospace and automotive industry, by geography, and consequently provides the revenue of the key regions which include North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (Middle East & Africa, and South America).
North America dominated the market in 2017 with the U.S. as the highest revenue generating country for this market. Industrial advancements, extensive investments for dedicated R&D facilities, and development of 3D printing-based products are some of the major propellers of the growth for the market in the region. Additionally, decreasing prices of printers as well as technological advancements in 3D printing are expected to help the market grow at a very high rate. Asia-Pacific is estimated to be the fastest growing market. The potential growth is expected to be supported by a large industrial base, encouraging government policies, and increasing financial support for research and development in countries such as Japan and China.
The global 3D printing market for aerospace and automotive industry has witnessed several strategic and technological developments in the past few years, undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the strategies covered in this section are product launches, business expansions, joint venture, and partnership, among others. The preferred strategy for companies has been business expansion in order to strengthen their position in the global 3D printing market for aerospace and automotive industry.
North America
The U.S.
Canada
Mexico
Europe
Germany
The U.K.
France
Italy
The Netherlands
Rest-of-Europe
Asia-Pacific
China
Japan
India
South Korea
Rest-of-Asia-Pacific
Rest-of-the-World
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According to a new market intelligence report by BIS Research, titled "Global 3D Printing Market for Aerospace and Automotive Industry - Analysis and Forecast, 2018-2023", the 3D Printing Market for Aerospace and Automotive Industry was valued at $3.06 billion in 2017 and is anticipated to reach $9.36 billion by 2023 growing at a CAGR of 17.86% during the forecast period 2018-2023. The growth in the market can be attributed to the rising government initiatives to develop 3D printing technology for mass production. The adoption of Industry 4.0 to enable faster, flexible and efficient processes to manufacture high quality products at lower cost is also expected to increase the adoption of 3D printing technology, globally. Some of the factors driving the growth of 3D Printing Market for Aerospace and Automotive Industry are increasing investments for research and development (R&D), advancements in 3D printing technologies, and increasing fuel efficiency requirements in the automotive industry. The key market players in the global 3D Printing Market for Aerospace and Automotive Industry are 3D Systems, Inc., HP, Inc., Stratasys Ltd., SLM Solutions Group, EOS GmbH, BASF SE, Arkema, Evonik Industries AG, Materialise NV, General Electric, and Ultimaker B.V., among others.
The adoption of 3D printing technology has gained enormous traction and has acted as a game changer for the automotive and aerospace industry. Even though 3D printing is still in its nascent stage, it has the ability to bring high-level implications that transform the manufacturing industry. With the increasing applications of 3D printing in both automotive and aerospace industry, the technology has captured the interest of both the Original Equipment Manufacturers (OEMs) and consumers. With companies such as General Electric, Ford Motors, BMW and Volkswagen heavily investing in 3D printing technology to speed-up the prototyping process, integration of 3D printing at production stage is expected to simplify the mass production of complicated parts. The rapid speed and flexibility of 3D printing technology as compared to the conventional manufacturing makes this technology a boon for many applications such as manufacturing engine parts, turbines, headlights, and bezels in the aerospace and automotive industry. Owing to the growing popularity of 3D printing, BIS Research has published a report titled, “Global 3D Printing Market for Aerospace and Automotive Industry, Analysis & Forecast 2018-2023”, incorporating a comprehensive segmentation of the market into technology, material-type, end-use and geography.
Due to the ongoing changes in the industry, BIS Research has incorporated a detailed chapter on the market dynamics including the key driving and restraining forces, along with the opportunities for the global 3D printing market for aerospace and automotive industry. The market numbers play an important role in the industry, following which a proper market sizing and estimation for material-type, technology, end-use and regions have been undertaken for the industry.
The report has skillfully identified the potential for further development in the form of product launches, joint ventures, business expansion and partnerships, among others. The report has also included a separate section of detailed competitive landscape. The recent activities by the key players in this market have also been tracked in the form of company profiles. Some of the key companies covered in the report are Stratasys Ltd., Materialise NV, 3D Systems, Inc., SLM Solutions Group, General Electric, Arkema, BASF SE, HP Development Company, L.P., Proto Labs, Evonik Industries AG, Royal DSM, EOS GmbH, Ultimaker B.V., Formlabs, Inc., ENVISIONTEC, INC., and Markforged, Inc.
According to our analyst Arpit Gupta, “The 3D printing market for aerospace and automotive industry is expected to grow over $9.36 billion by 2023 growing at a CAGR of 17.86% in the forecast period 2018-2023, with North America leading the market. Increasing investments in R&D and integration of manufacturing facilities with 3D printing technology to speed up the production process for product manufacturing and mass customization by manufacturing giants such as General Electric, Ford Motor Company, and Boeing, among others is expected to boost the market for 3D printing during the forecast period 2018-2023. Globally, by material-type, thermoplastic is expected to dominate the global 3D printing market for aerospace and automotive industry, mainly due to their capability to produce lightweight durable parts which reduces the vehicle weight thereby increasing fuel economy.”
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary, and SWOT analysis. The overall market has been segmented by technology, materials, end-use and also includes a comprehensive section on the geographical analysis which has been sub-segmented into four major regions namely: North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW).
This report is a meticulous compilation of research on more than 50 major players in the 3D printing industry. Moreover, it draws upon insights from in-depth interviews of key opinion leaders of more than 15 leading companies, market participants, and vendors.
• What are the trends in the global 3D printing market for aerospace and automotive industry across different regions?
• What are the major driving forces that tend to increase the demand for the global 3D printing market for aerospace and automotive industry during the forecast period, 2018-2023?
• What are the major challenges inhibiting the growth of the global 3D printing market for aerospace and automotive industry?
• What was the revenue generated by the global 3D printing market for aerospace and automotive industry by technology in 2017, and what will be the estimates by 2023?
• Which material type (thermoplastic, metal and others) of the global 3D printing market for aerospace and automotive industry will dominate in the coming years?
• Which type of thermoplastic material will dominate the global 3D printing market for aerospace and automotive industry in the coming years?
• What is the revenue generated by the different technologies such as fused deposition modeling, stereolithography, selective laser sintering, polyJet, material jetting, selective laser melting and others?
• What is the revenue generated by each material used in aerospace and automotive industry?
• Who are the key players in the global 3D printing market for aerospace and automotive industry?
• What are the new strategies adopted by the existing market players to make a mark in the industry?
• What major opportunities do the 3D printing technology providers and material manufacturers foresee?
• What is the competitive strength of the key leading players in the global 3D printing market for aerospace and automotive industry?
3D Systems, Inc.
Arkema
BASF SE
EnvisionTEC
EOS GmbH
Evonik Industries AG
FormLabs Inc.
General Electric
HP Inc.
Materialise NV
Proto Labs
Royal DSM
SLM Solutions Group
Stratasys Ltd.
Ultimaker B.V.
Global 3D Printing Market for Aerospace and Automotive Industry to Reach $9.36 Billion by 2023, BIS Research Reports

Additional Info

Author BIS Research INC.
Published by BISRESEARCH
Document type Report
ICS 25.030 : Additive manufacturing
Number of pages 188
Weight(kg.) 0.4196
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