by The global Microscale 3D Printing Market is estimated to be valued at US$ 20.65 Bn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Microscale 3D printing, also known as desktop 3D printing, enables manufacturing of detailed models and prototypes at an affordable cost. Microscale 3D printers use materials such as plastic, metal alloy, ceramic, and others to build three dimensional solid objects from a digital file. The key advantages of microscale 3D printing include ability to create customized products on-demand, reduction in production lead time, and cost-effective small volume production. These factors are contributing to the growing uptake of microscale 3D printing across various industries.
Market key trends:
One of the major trends gaining traction in the microscale 3D printing market is the rising demand for custom product models from industries such as automotive, aerospace, and consumer goods. Microscale 3D printing allows prototype development and manufacturing of customized components as per the specific requirements of clients. Additionally, the cosmetic industry is increasingly adopting microscale 3D printing technology for production of customized implants, dental models, and surgical guides. Furthermore, advancements ininkjet-based 3D printing materials are expanding the application scope of microscale 3D printing in fields such as education, healthcare, and jewelry making. The emergence of multi-material microscale 3D printers is also supporting the market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low to moderate due to high capital requirements needed for R&D and production. However, technological advancements have lowered the entry barriers.
Bargaining power of buyers: The bargaining power of buyers is high given the presence of many vendors providing similar offerings. Buyers can negotiate on price and seamlessly switch between suppliers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers for raw materials used for 3D printing. However, specialized material suppliers enjoy some bargaining power.
Threat of new substitutes: The threat of substitutes is moderate as alternative methods for small-scale manufacturing like CNC machines, laser cutting, and injection molding are used. However, 3D printing helps produce customized designs quickly.
Competitive rivalry: The industry currently sees intense competition between numerous global and regional players.
Key Takeaways
The Global Microscale 3d Printing Market is expected to witness high growth, exhibiting a CAGR of 23% over the forecast period, due to increasing demand from healthcare and automotive industries for customized medical implants and car components.
Regional analysis: The North American region is expected to dominate the market, accounting for over 35% of the global market share in 2023 due to presence of major players and increased adoption in aerospace and defense sectors across the U.S. and Canada. Asia Pacific is anticipated to be the fastest growing region owing to government initiatives to support adoption of advanced technologies in industries across China, India, Japan and Southeast Asia.
Key players: Key players operating in the microscale 3d printing market are Desktop Metal, Formlabs, HP, HUBS, WASP, GE Additive, Aleph Objects (Lulzbot), Apis Cor, 3D-Fuel (3DomFuel), Doob Group, E3D, Nano Dimension, Open Bionics, Zortrax, Nanoscribe GmbH, Monoprice, Stratasys, 3D Systems, Divergent3D, and Optomec. These players are focusing on offering specialized materials, multi-material machines and higher resolution printers to cater to emerging applications in industries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
