India 3D printing Market

India 3D printing Market is project to grow at robust CAGR of 21.3% during the forecast period between 2024 and 2031.

India 3D Printing Market Overview

3D printing is also referred to as additive manufacturing, which is a process of creating three-dimensional solid objects from a digital file. These 3D objects are made with the additive processes. Additive processes include laying down several layers of material until the final object is created. 3D printing is the reverse of subtractive manufacturing, which is the process of cutting or hollowing a material or object to get the final product. 3D printing provides the final object without using a large amount of material.

Major India 3D Printing Market Drivers

The growing trend of moving from traditional manufacturing to functional part manufacturing in several industries such as medical, aerospace, consumer goods, and medical is driving the growth of the 3D printing market in India. 3D printing is a process, which requires no special tools and less material to manufacture the object, thus making it a cost-efficient, less time-consuming, and easy to use operation. These features have attracted several verticals to incline towards 3D printing. Covid-19 pandemic has led to a lot of innovations to provide faster medical cures. In Europe and the U.S., India’s 3D printing technology has provided leading-edge testing and medical solutions, which has promoted India’s developing 3D printing industry.

Moreover, the increasing demand for 3D printing in sectors such as aerospace, healthcare, manufacturing, and automotive, has raised the number of start-ups in the 3D printing industry. India is at a growing stage in the 3D printing industry, which is the reason for huge investments and government funding research & development to accelerate 3D printing as a manufacturing technique in all the sectors. The automobile & electronics industry has a significant contribution to the GDP of India. Implementation of 3D printing in the manufacturing process will reduce the cost, material consumption, and time. These are the features surging the growth of 3D printing market in India.

Based on the technology, the market is segmented into stereolithography (SLA), fused deposition modeling (FDM), selective laser sintering (SLS), direct metal laser sintering (DMLS), polyjet/multijet printing (MJP), inkjet printing, electron beam melting (EBM), laser metal deposition (LMD), direct light projection (DLP), laminated object manufacturing (LOM), and others. The direct metal laser sintering (DMLS) segment is expected to grow at a higher CAGR over the forecast period. This technology offers easy manufacturing of complex structures in industries such as aerospace and automotive. It has features such as superior mechanical strength, less production time, wide variety of materials, and enhanced quality of highly complex products, which is increasing the implementation of DMLS in the manufacturing of various parts such as functional manufacturing and medical prosthetics. These implementations are propelling the growth of this segment.

Based on application, the market is segmented into prototyping, functional part manufacturing, and tooling. The prototyping segment is anticipated to witness a faster CAGR over the forecast period. The growing adoption of 3D printing in prototype applications by various industries attributed to the low operational costs, is a major factor that is increasing the demand of the segment. These features aid in the growth of the prototyping segment in the 3D printing market in India.

Key Developments:

• • In 2020, SLM Solutions in partnership with Honeywell Corporation, created a new parameter sets 3D printed aluminium alloy. Both the companies aimed at reducing time in manufacturing and production cost in 3D printed aircraft components.
  • In 2019, HP announced to build a 3D printing center of excellence (CoE) in the state of Andhra Pradesh in India. This center will be provided with high-end 3D printers which can handle short-run production and prototyping.

India 3D Printing Market Segmentation:

The India 3D Printing Market has been segmented on the basis of Technology, Material Type and End-user Industry. Based on the Technology, the market is segmented into SLA, FDM, Electron Beam Melting, Digital Light Processing, SLS and Others. Based on the Material Type, the market is segmented into Metal, Plastic, Ceramics and Others. Based on the End-user Industry, the market is segmented into Automotive, Aerospace and Defense, Healthcare, Construction and Architecture, Energy, Food and Others..

Market Segmentation

India 3D Printing Market by Technology

• • Stereo Lithography (SLA)
  • Fused Deposition Modeling (FDM)
  • Electron Beam Melting
  • Digital Light Processing
  • Selective Laser Sintering (SLS)
  • Others

India 3D Printing Market by Material Type

• • Metal
  • Plastic
  • Ceramics
  • Others

India 3D Printing Market by End-user Industry

• • Automotive
  • Aerospace and Defense
  • Healthcare
  • Construction and Architecture
  • Energy
  • Food
  • Others