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Binder Jetting Services Market Segmented By Prototypes, Tools & Fixtures, Production Parts Application in Automotive, Healthcare & Medical Devices, Aerospace & Aeronautics, Consumer Goods, Heavy Equipment, Oil & Gas
The binder jetting services market is estimated to reach market value of US$ 108.1 Mn in 2023. The binder jetting services market is expected to grow to reach the market value of US$ 486.4 Mn by 2033, and grow at a CAGR of 16.2% from 2023 to 2033.
Binder jetting is an additive manufacturing process family. Binder jetting involves depositing a binder selectively onto a powder bed and bonding these areas together to form a solid part one layer at a time. Metals, sand, and ceramics in granular form are common materials used in binder jetting.
Binder jetting is used in a variety of applications, including the production of full-color prototypes (such as figurines), large sand casting cores and moulds, and low-cost 3D printed metal parts. With such a wide range of applications, it is critical for a designer who wants to fully utilise the capabilities of Binder jetting to understand the basic mechanics of the process and how these relate to its key benefits.
New internet of things (IoT)-enabled devices, as well as breakthroughs in Artificial Intelligence (AI), cloud-based services, and web 3.0, are driving digitization. Companies addressing the new digital age are focusing on developing technologies such as binder jetting to respond to changing consumer trends and data patterns.
Furthermore, as the distance between production and consumption shrinks, established supply chain models based on economies of scale are being challenged by new customer-supplier relationships fuelled by the Internet and social media. Companies must therefore seek out highly developed digital technologies in order to remain competitive, as well as adapt to these technologies for seamless integration between customers and suppliers. Binder jetting is an example of a digital technology that assists businesses in connecting intuitive web-based interfaces and 3D technologies at the front end of the supply chain, allowing consumers to become product designers and driving real-time and agile manufacturing.
The binder jetting services market was valued at US$ 94.3 Mn in 2022. Looking at the market from a regional perspective, the market in North America held the leading market share of 25.4% in the global landscape in 2022 and is expected to retain its leading position throughout the forecast period. Meanwhile, demand for binder jetting services in the Europe region will hold around 21.2% of the market in 2022.
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Binder Jetting Services Market Size (2023) |
US$ 108.1 Mn |
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Projected Market Value (2033) |
US$ 486.4 Mn |
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Global Market Growth Rate (2023-2033) |
16.2% |
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Production Part Segment Market Share (2022) |
39.4% |
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India Market Growth Rate (2022) |
17.2% |
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Automotive Segment Market Share (2022) |
16.7% |
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“High Cost of Jetting Services Acting as a Drawback”
Binder jetting's main drawbacks are speed and cost. Those who are interested in pursuing this technology are unlikely to be primarily motivated by cost. Jetting requires significantly more time to manufacture than the majority of conventional manufacturing techniques. Using binder jetting services, it may also take several builds to fine-tune a part's design for mass production. Additionally, binder services are limited by size. The components can't be bigger than the machine's build platform, which varies from printer to printer.
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Binder jetting services such as stainless steel, aluminium, and others are frequently used to improve the strength and durability of products such as smartphones, computers, and other electronic devices. People's increasing purchasing power for the electronics industry and other variants are fueling the industry's growth. Due to these the binder jetting service market was estimated to have the largest market share of 15.4% in 2022.
“Digitization and Adoption of IoT”
Digitization is driven by new web of things (IoT) empowered gadgets, alongside leap forwards in computerized reasoning (artificial intelligence), cloud-based administrations, and web 3.0. Binder jetting and other technologies like it are being used by businesses in this new digital age to find ways to respond to shifting consumer trends and data patterns. Additionally, the launch of industry 4.0 will propel the demand for binder jetting services in Japan.
Due to these binder jetting services market is estimated to grow at a CAGR of 14.3% over the forecast period in China.
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“Government Initiatives for Medical Devices”
Germany is one of the most significant country in Europe holding the largest share of 11.7% in the global binder jetting services market. The components of orthodontic equipment, surgical instruments, and other medical equipment are made of very small, precise parts. Binder jetting is used in medical equipment to ensure that it lasts for a long time and has a longer lifespan. Because the medical device industry is always looking for new ways to treat and diagnose diseases, innovation fuels governments' efforts to support the industry through federal policy measures. Additionally, the German government has increased its investment in cutting-edge medical technology as a result of the rising demand for medical equipment.
Which Production Parts Holds a Larger share market in Binder Jetting Services Market?
“Rising Demand for Cost Efficiency”
The production part segment is expected to hold a higher share of the market accounting for more than 39.4% of the market share in 2022. It attribute factor such as compared to alternatives like high-energy deposition, binder jetting provides distinct material options. Binder jetting can be a cost-effective method for producing finished parts at speeds that are nearly production-ready. Because it is less expensive than casting, this additive manufacturing (AM) method is being considered for use in high-volume industries.
Why Demand is increasing for Automotive in Binder Jetting Services Market?
“Demand for Customization in Automotive”
The most suitable applications for numerical control manufacturing are mass production and expensive automotive component customization. The binder jetting services can be used to make custom parts for cars. It can be made to the customer's liking. Binder jetting is used by various automobile manufacturers for personalization and serial part production. Due to these the binder jetting services market for automotive was estimated to have the largest market share of 16.7% in 2022.
The global binder jetting services market's key players are focusing on business strategies such as mergers and acquisitions and geographical expansion. Companies involved in binder jetting services are aiming for product innovation and strategic partnerships with other vendors to enhance their portfolios while addressing the demand of an expanding customer pool. The introduction of new products and strategic partnerships are key in this landscape.
Recent developments related to key players providing binder jetting services market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
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Attribute |
Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2018-2022 |
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Market Analysis |
US$ Mn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
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In 2022, demand for binder jetting services markets for a valuation of US$ 94.3 Mn.
The globally binder jetting services market is estimated at 16.2% CAGR through 2033.
The market for the binder jetting services is forecasted to climb to US$ 486.4 Mn by 2033-end.
Demand for binder jetting services in India is projected to rise 17.2% CAGR over the next ten years.
In 2022, the North American binder jetting services market held a dominant market share of 25.4%.
