2024-07-19 13:05:35
The world of 3D printing is constantly evolving, and the contrast between China and the rest of the world couldn’t be more stark. While China is showing impressive growth, other regions are facing different challenges. First quarter data from research firm Context shows a significant difference between China and the rest of the world. In the United States and Europe, the defense industry is a bright spot.
“Sentiment was split across regions, with Chinese suppliers – particularly those active in laser powder bed fusion systems for the metal industry – excited about strong domestic demand, while Western suppliers reported continued challenges in end markets due to high interest, low investment spending and a lack of confidence in the market,” said Chris Connery, vice president of global analysis at CONTEXT. “In the U.S. and Europe, however, the news was not all negative, with many suppliers reporting strong demand in the domestic defense market during the period.”
Defense orders support demand for 3D printers in the West
Chinese manufacturers’ sales surge
When it comes to industrial metal printers, China seems to have a smooth ride. Shipments of these printers grew significantly in the first quarter of 2024, driven by strong domestic demand. Chinese suppliers, especially those focusing on laser powder bed fusion technology, have shown growth for several consecutive quarters. Domestic deliveries increased by 45% year-on-year in the first quarter of 2024. Western manufacturers’ sales fell by 4% in the same period. Chinese manufacturers’ deliveries have now increased for four consecutive quarters, while Western suppliers’ deliveries have fallen for four consecutive quarters. Companies such as Eplus3D and BLT are now among the top five global players in the field. In terms of turnover, EOS and Nikon SLM solutions still lead the way.
Global market growth of 10%
The global 3D metal printer market grew 10% year-on-year in the first quarter; sales of laser powder bed systems increased by 7%. Logically, new entrants are rising: DED +21%, material extrusion +32% and binder jetting +15%. From a monetary perspective, this describes the largest segments of the additive manufacturing market.
Problems elsewhere in the world
In contrast to China, we see a very different situation in the United States and Europe. High interest rates and persistent inflation have led to a reluctance to invest in capital goods, including industrial 3D printers. This has led to a decline in deliveries, especially for industrial polymer printers. In the first quarter of 2024, total global industrial 3D printer shipments fell by 15%. The industrial polymer printer market suffered an additional blow, with shipments falling by 29% year-on-year. What is striking is the sharp drop in demand for vat photopolymerization printers, which fell by 47%. This was mainly caused by the poor performance of market leaders such as China’s UnionTech and the West’s 3D Systems.
Mid-range and professional systems
Shipments of mid-range 3D printers fell slightly by 7%. Among them, the decline in polymer powder bed fusion printers was the most significant. Although China’s Zhongrui Technology achieved some growth in this field, demand was weak in both the East and the West. The professional 3D printer category was hit hard, with deliveries falling by 34%. Driven by inflation and cost awareness, the shift to cheaper entry-level models played a major role in this. Although leading companies such as Formlabs and UltiMaker have launched new products, these innovations have not yet brought about an improvement in the market. The top five companies Stratasys, UnionTech, Formlabs and 3D Systems all saw year-on-year declines in shipments of products in their price range.
Entry-level models: China’s largest manufacturer and the United States’ largest customer
Businesses choose cheap 3D printers
A bright spot in the market was the growth in deliveries of entry-level models, which increased by 26% year-on-year. This segment, dominated by Chinese companies such as Creality, is shifting towards more affordable 3D printers that are also used in professional environments. The increasing use of entry-level printers in more professional end-markets, including print farms, continues to drive the price range up. In order to capitalize on the success of Bambu Lab’s AMS (Automatic Material System) multi-color technology, many suppliers are commercializing similar technologies. The US market remains the most important end market for entry-level 3D printing: 42% of total global deliveries in the first quarter went to the United States. About 94% of global entry-level 3D printer shipments in the first quarter of 2024 came from Chinese suppliers.
Appearance
Despite the current challenges, Chris Connelly There is no pessimism about the future of the 3D printer market. The West is expected to see moderate growth, partly due to demand from the defense sector. Entry-level models are expected to continue to grow, driven by new technological innovations and market expansion. High inflation, interest rates and a shift to cheaper models are negatively affecting Western markets. Still, growth in the entry-level market and continued demand from the defense sector offer some hope. China remains the big winner, with global industrial printer shipments expected to grow 7% by 2024. Strong domestic demand and a focus on technological advancement give China a clear advantage.
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