The Cleveland-based research firm, Freedonia Group, released a new study projecting the global demand for 3D printers will grow 24% annually, reaching $5.4 billion by 2021. The report, titled, “Global 3D Printing Markets, 2nd Edition”, includes data from 2006, 2011, and 2016, generating forecasts for 2021 separated by country.
The market drivers behind the growth differ among regions, with end users in developed areas using 3D printing for material and labor savings, mostly in small-scale production. Users in China and the Pacific/Asian region fuel the desktop printer market tied to usage in educational settings.
Current numbers place demand for 3D printers as $1.8 billion in 2016, with production printers accounting for 24% of this figure. Although 70% of 3D printer demand in 2016 was for smaller scale prototype printers, analyst Zoe Biller comments, “Despite their dominance of unit sales, desktop printers only represented 6% of the printing hardware market in value terms.”
In all regions around the globe, a growing number of materials that 3D printers can print, as well as refinement of existing polymer materials, is further driving the technology’s adoption in new markets. For instance, advances in metal printing caught the attention of the aerospace industry, with 3D printed metal pieces now able to pass safety requirements. Less conventional materials are spuring researchers to investigate commercialization of the 3D printing for human tissue.
