The crisis forced market players across the globe to reduce their operational expenditure.

It was demobilized, reflecting supply chain disruption, and reviving financial market conditions. As a result of the fast-spreading pandemic, the overall industrial production across the globe experienced a sharp decline. Post outbreak of the COVID-19 crisis, industrial hubs, manufacturing sectors witnessed an immediate supply chain disruption and halts on production. Supply Chain Disruption and Halts on Production Units Negatively Impact Printing Industry Amid Lockdown Customization of the automotive interior is another major application of this technology in the automotive industry. Rapid tooling incorporated with additive manufacturing has become the priority of many automotive manufacturers.

Automotive industry is expected to show a huge adoption of this technology.

For instance, Boeing leverages industrial 3D printing to manufacture the interior parts of its plane, whereas, NASA uses it to build rocket engines and parts of the satellite.

Aerospace companies are exploring this 3D printing for manufacturing various hardware parts of their products.

These technologies increase the chances of broader adoption and greater utilization of this technology across industries, including aerospace, automotive, healthcare, among others. Rapidly increasing digitization, increasing adoption of advanced technologies such as Industry 4.0, smart factories, robotics, machine learning, and others fuel the demand for online 3D printing for simulation purposes. Based on our analysis, the global market exhibited an average growth of 20.2% in 2020 as compared to 2019.

The global 3D printing market size was valued at USD 15.10 billion in 2021 and is projected to grow from USD 18.33 billion in 2022 to USD 83.90 billion by 2029, exhibiting a CAGR of 24.3% during the forecast period.

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