The 3D printing industry is experiencing accelerated growth, with consumer-grade printers entering a rapid expansion phase led by Chinese manufacturers, while industrial-grade printers remain dominated by traditional industrial powerhouses like Germany and the U.S. The sector is poised for robust growth, particularly driven by the booming commercial aerospace industry. In 2024, global shipments of consumer 3D printers reached approximately 4.1 million units, with Chinese firms capturing 94% of the market share.
3D printing, or additive manufacturing (AM), is revolutionizing high-end production by replacing traditional CNC machining with superior precision, reduced material waste, and cost efficiency. The global 3D printing market was valued at $21.9 billion in 2024, with printers and services accounting for 74% and materials making up 20%.
**Consumer-Grade 3D Printers: China’s "Four Dragons" Soar** Consumer 3D printing emphasizes affordability, ease of use, and customization for individual users and maker communities. Technological advancements have addressed historical issues like slow speed and operational complexity, while prices for entry-level models have dropped below ¥1,000, significantly lowering adoption barriers. AI-powered tools, such as Gemini Nano Banana, further simplify usage by converting 2D images into 3D models. In 2024, the global consumer 3D printer market was worth $4.1 billion, projected to grow to $16.9 billion by 2029. Chinese manufacturers—Bambu Lab, Creality, Anycubic, and Snapmaker—collectively shipped 3.02 million units, dominating 94% of the market.
**Commercial Aerospace: Industrial 3D Printing’s Key Driver** Aerospace is the largest downstream sector for industrial 3D printing, contributing 61% and 50% to the revenues of Bright Laser Technologies and Farsoon Technologies, respectively. The global commercial space industry is at an inflection point, with SpaceX achieving 138 rocket launches in 2024. China’s progress includes the successful maiden flight of the Zhuque-3 reusable rocket, marking a new phase in its commercial space endeavors. The domestic commercial space market, valued at ¥2.3 trillion in 2024, is expected to reach ¥2.8 trillion in 2025.
3D printing is critical for rocket engine production (50% of engine costs), slashing manufacturing cycles to 1/6 of traditional methods and reducing costs by 90% while cutting engine weight by half. China’s large-scale satellite constellation projects could drive cumulative demand for aerospace 3D printing to ¥47.5 billion.
**Tech & New Consumer Applications** - **3C Sector**: 3D printing is replacing CNC machining in foldable smartphone hinges, frames, USB ports, and watch casings, offering lightweighting and cost savings. - **Liquid Cooling**: Microchannel fabrication via 3D printing enhances thermal performance in CPU/GPU coolers and AI servers, with companies like CoolestDC, Wiwynn, and AEWIN adopting copper-based printed cold plates.
**Key Players** - **Consumer 3D Printers**: Bambu Lab (unlisted), Creality (planning HK IPO), Anker Innovations. - **Industrial 3D Printers**: Bright Laser Technologies, Farsoon Technologies; overseas players VELO3D, Stratasys, 3D Systems. - **Services/Materials**: Bright Laser Technologies, Yinbang Clad Material; Jilian Technology, Hisun Biomaterials, Gripm Advanced Materials. - **Equipment**: JinChengZi, JPT Opto-electronics, Amsky, Scantech.
**Risks**: Weak downstream demand, intensified technological competition, geopolitical uncertainties.
