Increase in demand for 3D printing in the dental industry and rise in government initiatives toward the adoption of 3D printing technology drive the growth of the global personal 3D printers market.
PORTLAND, Ore., July 8, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Personal 3D Printers Market By Type (Hardware, Software, and Services), Material (Plastic, Metal, Ceramic, Resins, and Other), Technology (Fused Deposition Modeling (FDM), Stereolithography (SLA), Digital Light Processing (DLP), Continuous liquid Interface Production (CLIP), Selective Laser Sintering (SLS), Selective Deposition Lamination, Multi Jet Fusion, Polyjet, Selective Laser Melting (SLM), and Others), Form (Filament, Powder, and Liquids), Additive Manufacturing Process (Material Extrusion, Powder Bed Fusion, Photopolymerisation, Material Jetting, and Sheet Lamination), and Application (Education, Entertainment, Photography, Architecture, Fashion & Jewelry, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global personal 3D printers industry was estimated at $1.69 billion in 2020, and is anticipated to hit $5.44 billion by 2030, registering a CAGR of 13.50% from 2021 to 2030.
Increase in demand for 3D printing in the dental industry and rise in government initiatives toward the adoption of 3D printing technology drive the growth of the global personal 3D printers market. On the other hand, lack of skilled labor impedes the growth to some extent. However, growing adoption of 3D printers in several industries is expected to create lucrative opportunities in the industry.
Disrupted production processes gave way to shortage of raw materials needed to manufacture personal 3D printers. Also, there was a sharp decline in demand for 3D printers from industries such as entertainment, education, photography etc.
Also, reduction in various capital budgets and delay in planned projects in various industries hampered the market growth, especially during the first phase of the lockdown.
However, the global situation is being ameliorated slowly and steadily, and the market is projected to recoup soon.
Based on type, the hardware segment contributed to more than half of the global personal 3D printers market share in 2020, and is expected to maintain the lion's share by the end of 2030. The hardware sector for 3D printing is evolving rapidly, as companies are constantly improving on the available systems and developing new hardware solutions. The software segment, on the other hand, would cite the fastest CAGR of 16.20% during the forecast period. This is because 3D printing software is one of the most scalable, efficient, and consistent software and it plays a key role in almost every process of manufacturing.
The Plastics Segmentto Maintain the Dominant Share
Based on materials, the plastics segment held more than one-third of the global personal 3D printers market revenue in 2020, and is projected to lead the trail by 2030. Growing environmental concern has led to increase in use of plastics derived from renewable materials such as Polylactic Acid (PLA). Due to their low cost, ease of manufacture, versatility and water resistance, plastics are used in a multitude of products and sectors. Simultaneously, the metals segment would manifest the fastest CAGR of 13.50% from 2021 to 2030. Factor such as increasing print speed and technological advancements in several industries propel the segment growth.
Based on region, North America generated the highest share in 2020, garnering nearly two-fifths of the global personal 3D printers market, owing to surge in initiatives of the American governments for the development of 3D printing and funding for R&D in this province. At the same time, the market across Asia-Pacific would cite the fastest CAGR of 15.50% from 2021 to 2030, due to growth in applications of additive printing in medical, entertainment, fashion & jewelry, and other industries.
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