Automotive 3D Printing Market by Technology (Selective Laser Sintering (SLS), Fused Deposition Modeling (FDM), Electron Beam Melting (EBM), Stereolithography (SLA), and Poly Jet), Application (Prototyping & Tooling, Manufacturing, and R&D Activities) - Analysis & Forecast 2019-2030
Report ID : 167 | Published Date : May 2020 | Pages : 160 | Region : Global | Report Code : AT-4
Automotive 3D Printing Market Overview and Introduction
3D printing, also known as Additive Manufacturing (AM), is a process of building 3-dimensional solid objects using different types of technologies and materials. In the automotive industry, 3D printing is commonly used to develop functional prototypes, manufacture small & complex parts of vehicles, and develop specific tools and R&D activities. Selective Laser Sintering (SLS), Fused Deposition Modeling (FDM), Electron Beam Melting (EBM), Stereolithography (SLA), and polyJet, among others, are the most popular 3D printing technologies present in the automotive industry. Polymers are the most used materials in automotive 3D printing over metals, resins, wax, and ceramics. Stratasys, Protolab, 3D Systems, Materialise, Exone, SLM Solutions, and PRODWAYS GROUP are some of the major players present in the market.
3D printing has largely impacted the automotive industry owing to its wide range of applications. As a result, several major automotive companies, such as BMW, Ford, and Volkswagen, among others, have been using this technology to print different automotive components as 3D printing technology assists in lowering production costs and saving time for designing prototypes. For instance, in 2016, the use of 3D printing technology by the Volkswagen Autoeuropa factory in Portugal helped the company to make annual savings worth US$160,000 using FDM desktop 3D printers. It reduced the production costs by over 90% and time spent on tool development by 95%. Ease of manufacturing customized requirements, cost-saving, and reduced process downtime are the major factors that are driving market growth.
The global automotive 3D printing market is segmented by technology, application, and region.
Automotive 3D Printing Market By Technology
Based on technology, the global automotive 3D printing market is segmented into Selective Laser Sintering (SLS), Fused Deposition Modeling (FDM), Electron Beam Melting (EBM), Stereolithography (SLA), poly jet, and others. Stereolithography technology is expected to register the highest CAGR in automotive 3D printing market, owing to SLA materials offering extensive mechanical properties and having application opportunities for parts requiring ABS or polypropylene-like characteristics such as automotive styling components, snap- fit assemblies, and master patterns.
Automotive 3D Printing Market By Application
Based on application, the market is segmented into prototyping & tooling, manufacturing, and R&D activities. The manufacturing segment is expected to grow at the highest CAGR in the coming years. This growth can be attributed to a wide range of 3D printing advantages for manufacturing applications such as reduced cutting requirements, leftover or waste materials and elimination of the need to reprocess raw materials.
Automotive 3D Printing Market By Region
Based on region, the global automotive 3D printing market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). In 2018, North America dominated the automotive 3D printing market. However, Asia Pacific is expected to grow with the highest CAGR during the forecast period due to the immense potential that emerging countries such as China, India, Japan, and South Korea hold. These countries have been prominent markets for the development of automotive parts & vehicles, owing to the enormous automotive sector and abundant engineering & technical capabilities.
Automotive 3D Printing Market Prominent Players
Some of the prominent players in the automotive 3D printing market include 3D Systems, Inc., Stratasys Ltd., Materialise, ExOne, Voxeljet, SLM Solutions, and Autodesk Inc., Renishaw plc, Höganäs AB and HP Development Company, L.P. among others.