Additive manufacturing (AM) differs from subtractive manufacturing, which involves grinding away unneeded material from a block of material. In most cases, additive manufacturing in industrial applications refers to 3D printing. With the use of a 3D printer and 3D printer software, additive manufacturing involves the layer-by-layer addition of material to construct an object while referring to a three-dimensional file. Depending on the application, a suitable additive manufacturing technology is chosen from the available set of technologies.
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Data Bridge Market Research analyses that the Additive Manufacturing Market will grow at a CAGR of 20.90% in the forecast period of 2023 to 2030 and is expected to reach USD 91,853.88 million by 2030 from USD 20,122.74 million in 2022. Many industries use additive manufacturing, and the aerospace industry was the first to embrace 3D printing. In healthcare, 3D printing is used in medical equipment and dentistry to create dental prostheses, inlays, and other implants. In the future, imaging methods will assess the patient's knee or jaw and then send a CAD blueprint of the appropriate implant directly to the 3D printer, which will begin constructing it instantly.
Growing demand for customized products is expected to drive the market's growth rate
Additive manufacturing (AM) allows for the production of customized products that meet the specific needs of individual customers. This is in contrast to traditional manufacturing methods, which typically produce standardized products. AM can be used to produce lightweight and strong materials that are ideal for a variety of applications, such as aerospace and automotive. The cost of traditional manufacturing is rising, due to factors such as labor costs and energy costs. AM can help to reduce these costs by eliminating the need for tooling and fixtures.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015- 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Material Type (Metal, Plastic, Alloys, and Ceramics), Technology (Stereolithography (SLA), Fused Disposition Modelling (FDM), Laser Sintering (LS), Binder Jetting Printing, Polyjet Printing, Electron Beam Melting (EBM), Laminated Object Manufacturing (LOM), and Others), Application (Automotive, Healthcare, Aerospace, Consumer Goods, Industrial, Defence, Architecture, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Equispheres (Canada), CRS Holdings, LLC. (U.S.), Voxeljet AG (Germany), Hoganas AB (Sweden), Renishaw PLC (U.K.), Materialise (Belgium), 3D Systems Inc, (U.S.), Melrose Industries PLC (U.K.), ExOne (U.S.), GENERAL ELECTRIC (U.S.), Sandvik (Sweden), Melrose Industries PLC (U.K.), Biomedical Modeling Inc. (U.S.), ENVISIONTEC US LLC (U.S.), EOS (U.S.), Integer Holdings Corporation (U.S.), GPI Prototype and Manufacturing Services, LLC. (U.S.), SLM Solutions (Germany), Xilloc Medical Int B.V. (Netherlands), Dentsply Sirona (U.S.), Stratasys Ltd. (Israel)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
The global additive manufacturing market is segmented into four notable segments based on material type, technology, and application.
- On the basis of material type, the global additive manufacturing market is segmented into plastic, metal, alloys, and ceramics. Metal segment is expected to dominate the global additive manufacturing market with a 33.89% market share, as many different metals are available in powdered form to suit exact processes and requirements, which helps boost its demand in the forecast year.
- On the basis of technology, the global additive manufacturing market is segmented into steriolithography (SLA), polyjet printing, binder jetting printing, laser sintering (LS), electron beam melting (EBM), fused disposition modeling (FDM), laminated object manufacturing (LOM) and others. Steriolithography (SLA) segment is expected to dominate the global additive manufacturing market with a 27.27% market share as with stereolithography. It is possible to create small parts with high definition and larger parts up to two meters in size while maintaining high precision, which helps boost its demand in the forecast year.
The steriolithography (SLA) segment will dominate the technology segment of the additive manufacturing market
The steriolithography (SLA) segment will emerge as the dominating segment under technology. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the chemicals and materials industry all around the globe will further bolster the growth of this segment.
- On the basis of application, the global additive manufacturing market is segmented into aerospace, automotive, consumer goods, healthcare, defense, industrial, architecture, and others. Automotive segment is expected to dominate the global additive manufacturing market with a 27.66% market share as engine parts, battery housings, cooling systems, heat exchangers, gears, lightweight hinges, and brackets are produced using additive manufacturing, which helps to boost its demand in the forecast year.
The automotive segment will dominate the application segment of the additive manufacturing market
The automotive segment will emerge as the dominating segment application segment. This is because of the growing demand from the end user industries especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: Equispheres (Canada), CRS Holdings, LLC. (U.S.), Voxeljet AG (Germany), Hoganas AB (Sweden), Renishaw PLC (U.K.), Materialise (Belgium), 3D Systems Inc, (U.S.), Melrose Industries PLC (U.K.), ExOne (U.S.), GENERAL ELECTRIC (U.S.), Sandvik (Sweden), Melrose Industries PLC (U.K.), Biomedical Modeling Inc. (U.S.), ENVISIONTEC US LLC (U.S.), EOS (U.S.), Integer Holdings Corporation (U.S.), GPI Prototype and Manufacturing Services, LLC. (U.S.), SLM Solutions (Germany), Xilloc Medical Int B.V. (Netherlands), Dentsply Sirona (U.S.), Stratasys Ltd. (Israel).
Market Development
- In 2023, Merz Dental, a digital dentistry company, teamed with Nexa 3D, the polymer 3D printing leader, in March. The collaboration will benefit Nexa 3D users throughout Germany. The 3D printing platform is fast and accurate, which will enhance the use of professional and dental desktop 3D printing. The desktop 3D printer is useful for a wide range of technical and dentistry applications, such as orthodontic models, splints, and surgical guides.
- In 2022, GE Additive, based in the United States, released its new Series 3 binder jet platform in October. This equipment will aid in the production of metal items such as castings on a large scale. Over 140,000 of these components, which are 15% more fuel efficient than usual, have been created by the company.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the additive manufacturing market during the forecast period 2023-2030
North America is the dominating region in the global additive manufacturing market. The United States is the largest market in North America, followed by Canada. The high demand for customized products, the need for lightweight and strong materials, and the presence of a large number of AM manufacturers are the major factors driving the growth of the additive manufacturing market in North America.
Asia-Pacific is estimated to be the fastest growing region in the additive manufacturing market in the forecast period 2023-2030
Asia-Pacific is the fastest-growing market in the global additive manufacturing market. China, Japan, and India are the major markets in Asia-Pacific. The rising demand for customized products, the need for lightweight and strong materials, and the growing government support for the development of AM technologies are the major factors driving the growth of the additive manufacturing market in Asia-Pacific.
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