The global 3D printed electronics market valued USD XX million in 2019 and is estimated to reach USD XX million by 2027, growing at a CAGR of 26.46% during the forecast period (2020-2027)
The growth of the market can be majorly attributable to growing emphasis towards additive manufacturing in consumer electronics coupled with compact and flexible benefits of the technology. 3D printing is offering benefits such as high accuracy and throughput of production and uses significantly lower volumes of raw material over traditional manufacturing technologies. Also, 3D printing enables the production of customized solutions and flexible designs for catering individual industry demands. These benefits are driving the use of 3D printing in the electronics industry. 3D printing is a digital manufacturing technology used for the production of three-dimensional functional objects from its digital prototype. It involves additive processes of laying down successive layers of materials to create the final product. It is finding applications in a wide range of industries from electronics to automotive, aerospace, metalworking and jewelry among others. Electronics evolved as the most lucrative growth spectrum for 3D printing globally. 3D printed in electronics is largely a prototyping tool and is offering benefits such as in-house prototyping, design flexibility and customized design. It is allowing electronic components such as antennas, sensors and displays to be printed directly over base surfaces, thereby reducing overall device size and complexity
Market Dynamics
Drivers
- Growing Consumption of Wearable Electronics
- Increasing popularity 3D Printing
Restraints
- Cybersecurity risks associated with 3D printing
Increasing popularity 3D Printing
The popularity of 3D printing has increased significantly in recent years as it makes 3D printing easier for small businesses and consumers with limited technical knowledge. 3D printing has been made possible through a well-developed and still rapidly evolving range of CAD programs. It is being used in many industries and sectors, including automotive, aerospace and defense, industrial and commercial, medical, government, construction, and education. The benefit of 3D printers to print anything from the provided model data enables manufacturers to produce products immediately after they receive an order. Moreover, 3D printing eliminates the need to construct complex assembly lines before production. Also, factories using this technology require fewer workers and materials, which reduces production costs.
The global market is developing more innovative products in different application areas. The market is witnessing growing demand for 3D printed electronic components and products. The wide range of existing products and possible applications of 3D printing materials has led to their increased usage in the electronics industry. For instance, mobile device antennas are being printed using conductive nanoparticle silver inks.
In addition, the integration of printed radio antennas in products made for the defense sector is being explored. R&D activities and the innovative application of 3D printing materials are trends that are expected to drive the market in the future.
Geographical Analysis
South America 3D printed electronics market is expected to grow with a CAGR of 19.98%, reaching USD XX million in 2027, from its recorded value of USD XX million in 2019. Brazil contributed for highest market revenue share of 66% in the year 2019. As the aviation sector grows in Brazil owing to economic progress, there is a huge scope of 3D printed electronics to be used in the Brazilian aerospace industry. The Brazilian Air Force’s Institute of Advanced Studies (IEAv) is rigorously testing aerospace parts 3D printed with Stratasys FDM technology for flight feasibility.
Major players are taking an interest in Brazil and exploring investment opportunities in the South American market, which is further leading to the development of the 3D printed electronics market in the country.
Argentina is one of the largest economies in South America, and the market will show an upward slope in the coming years. INTI, the National Institute of Industrial Technology, aims to leapfrog manufacturing technology in Argentina through the adoption of 3D printed electronics. Currently, Argentina does not have a widespread manufacturing industry when compared to other South American countries like Brazil and Chile. However, the country does have a high level of creativity and a blooming low-cost 3D printing industry.
INTI has been carrying out several educational, research and organizational projects to fuel the growth of the 3D printing industry in the country. INTI’s activities span across several decentralized R&D centers that work together as a project demands. The 3D printing technology in the country is still in its development stage and will need a strong push in terms of investment & technology to gain significant applications in the industry.
3D printed electronics market in the Rest of South America was valued at USD XX million in 2019 and is estimated to grow at a CAGR of XX% during the forecast period to reach a market value of USD XX million by 2027.
Rest of the South America region consists of regions such as Chile, Colombia, Peru, Bolivia, and others.
The 3D printed electronics market share is very nominal in these regions, and the awareness for 3D printing technology still needs to be developed in most of the parts of these regions. The 3D printing technology is not much developed and, in its current state, is only being used in isolated and particular instances.
Much of the discussion for the potential of 3D print technology in these countries has revolved only around educational and personal use. The market in these countries will grow at a slow rate until and unless a strong push is provided in the form of investments and R&D projects.
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