Orient Securities Company Limited has released a research report stating that the 3D printing industry maintains a high level of prosperity, with strong export growth and accelerated channel penetration, indicating the consumer-grade segment is entering a period of large-scale expansion. Chinese companies hold approximately 90% of the global market share for consumer-grade 3D printing equipment, leading the industry landscape. Driven by both overseas and domestic demand, the growth rates for equipment exports and production remain high. The report suggests focusing on: 1) Companies with high exposure to overseas markets: Those aligned with high-growth regions like North America, Europe, and emerging markets, prioritizing leading consumer-grade equipment manufacturers with cost and channel advantages. 2) Upstream material suppliers in the 3D printing industry, which are poised to benefit from robust downstream demand. The main points of the report are as follows:
3D Printing Equipment Exports Show Sustained High Growth, Driven by Capacity and Global Expansion
Latest data from the General Administration of Customs shows China's 3D printing equipment exports reached 2.46 million units from January to April 2026, a year-on-year increase of 100.3%. During the same period, domestic production of 3D printing equipment grew by 50.9%, ranking among the top growth categories in advanced manufacturing. Looking back at 2025, full-year cumulative exports of 3D printers totaled 5.03 million units, up 33.2% year-on-year, with total export value surpassing the 100 billion yuan mark for the first time, reaching 113.54 billion yuan, a 39.1% increase. Consumer/desktop-grade devices accounted for over 98% of shipments, indicating mass consumption has become the primary driver. Chinese enterprises now hold about 90% of the global market share for consumer-grade 3D printing equipment, further solidifying their dominant position. The China Business Industry Research Institute forecasts China's 3D printer exports will reach approximately 6.379 million units in 2026, with an export value of 14.36 billion yuan. Regarding export structure, North America and Europe remain the largest markets, together accounting for about 77% of total export volume.
Creality's HK IPO Concludes, Balancing High Revenue Growth with Profitability Pressure
Leading consumer 3D printing company Creality completed its public offering on May 26th and listed on the Hong Kong Stock Exchange on May 29th, positioning itself to become the "first listed consumer 3D printing stock." The company globally offered approximately 73.4275 million H shares at an issue price of HK$18.80 per share, raising about HK$1.38 billion, with a market capitalization nearing HK$13 billion. Fifteen cornerstone investors subscribed to a total of approximately HK$689 million, and the public offering's margin financing was oversubscribed by 3,061 times. Financially, the company's revenue for 2023-2025 was RMB 1.883 billion, RMB 2.288 billion, and RMB 3.127 billion respectively, representing a compound annual growth rate of about 28.6%. Gross margin remained around 31% during the same period. The company reported a net loss of RMB 182 million for 2025, primarily attributed to increased R&D and sales expenses, one-time share-based payments, and dividend distributions. Based on 2025 GMV, the company ranked second in the global consumer 3D printer market with an 11.2% share, and first in the consumer 3D scanner market with a 45.3% share.
Bambu Lab Enters Sam's Club, Accelerating Offline Channel Expansion for Consumer 3D Printing
Bambu Lab recently became the exclusive cooperative brand for 3D printers in all 64 Sam's Club stores across China, with products fully stocked from late April to early May. By the end of 2025, Sam's Club China had over 10.7 million paying members, with household users exceeding 80%. The core customer base consists of middle-class family decision-makers aged 25-45, which aligns well with Bambu Lab's "appliance-ization" strategy. Concurrently, Bambu Lab opened its second offline direct-operated store at One Avenue Qianhai in Bao'an, Shenzhen on May 15th, with stores in Chengdu, Hangzhou, and Shanghai also in preparation. The company previously opened its first global flagship store at MixC Shenzhen Bay in September 2025 and participated in the 2026 AWE as a home appliance brand, proposing a "standard home appliance" strategy that positions 3D printers as a standard modern household appliance. From online direct sales to cooperation with JD.com's appliance channel, and now entry into Sam's Club, Bambu Lab has established a multi-layered offline channel matrix. The report suggests that as product usability reaches a "plug-and-play" level, competition will evolve from product features to encompass channels, management, and supply chains.
Key Risk Factors
Risks include export performance falling short of expectations, tariff-related disruptions, and intensifying industry competition.