Additive Manufacturing Market
Additive Manufacturing Market Forecasts to 2028 - Global Analysis By Material Type (Alloys, Ceramics, Metals, Plastics and Other Material Types), Technology, Software, Application, End User and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $16.9 BN |
|
Projected Year Value (2028) |
US $71.3 BN |
|
CAGR (2022 - 2028) |
27.1% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Additive Manufacturing Market is accounted for $16.9 billion in 2022 and is expected to reach $71.3 billion by 2028 growing at a CAGR of 27.1% during the forecast period. The subtractive method of manufacture, which calls for removing extra material from a block of material, differs from additive manufacturing. In industrial settings, the term "additive manufacturing" typically refers to 3D printing. Using a 3D printer and 3D printer software, additive manufacturing entails adding material layer by layer to create an object while referring to a three-dimensional file. Depending on the application, a suitable technology for additive manufacturing is chosen from the pool of options.
According to a survey by Sculpteo, 41% of the companies confirm that Additive Manufacturing has helped them complete their task more efficiently while improvising their process. 59% of users desire to use more sustainable materials, driven by the increasing number of bio-based materials in recent years.
Market Dynamics:
Driver:
Advantages offered by additive manufacturing
Aerospace was one of the industries that used additive manufacturing products for their performance, and lightweight, environmentally resilient additive manufacturing materials are used for aeroplane parts. Doctors, patients, and research institutes all benefit greatly from the use of additive manufacturing products in the quickly developing medical sector.
Restraint:
Lack of software efficiency
Complex and complicated shapes can now be built utilising additive manufacturing with the laser powder-bed fusion technique that was previously prohibitively expensive or difficult to produce. However, there are drawbacks to laser powder-bed fusion. It contains support structures that are hard to remove and pieces with thin walls and high aspect ratios that could fail during construction, which could limit market expansion.
Opportunity:
Increasing demand for lightweight components
The automotive and aerospace industries need to achieve a wide range of interrelated technical and financial goals, including functional performance, lead time reduction, lightweight design, cost control, and supply of safety-critical components. In order to satisfy demand, reduce fuel consumption, improve technical performance, and make lighter structures, which are all directly related to improving economic and technical performance, the airline industry must carry more payloads, which increases revenue.
Threat:
High costs of the equipment
Based on the required applications, the capital cost of an additive manufacturing equipment is expensive. Additionally, a barrier to the adoption of additive manufacturing is a lack of qualified specialists. These elements have encouraged end users to continue using traditional machines. In addition, the countries have a poor adoption rate of new technologies. As a result, these constraints are impeding the market's expansion.
Covid-19 Impact
The desire for additive manufacturing is being hampered by the COVID-19 outbreak in several applications. Lockdown measures have been implemented by governments in many different nations around the world to stop the disease's spread. As a result, supply and transportation constraints, a delay in infrastructure development, and a slowdown in manufacturing operations have all occurred. As a result, additive manufacturing is becoming less popular all over the world. These players' manufacturing and supply chain facilities are dispersed throughout several nations. The demand and supply chain for additive manufacturing materials have been significantly impacted by the pandemic.
The stereolithography segment is expected to be the largest during the forecast period
The stereolithography segment is estimated to have a lucrative growth, due to ease of operations. One of the earliest and most widely used printing techniques is stereolithography. There are a number of other benefits that are promoting the use of the technology. However, technological advancements and the intensive R&D initiatives being undertaken by researchers and industry experts are creating prospects for a number of different effective and dependable technologies.
The prototyping segment is expected to have the highest CAGR during the forecast period
The prototyping segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its advantages. The prototype technique is widely employed in a variety of business sectors and industries. Prototyping is a common technique used by companies in the automotive, aerospace, and defence sectors to manufacture exact parts, components, and intricate systems. Manufacturers can build trustworthy final goods and attain improved precision through prototyping.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the expanding manufacturing sector, as well as growing population. Businesses in the region are expanding as a result of emerging economies like. To produce intricate engine parts, the aerospace industry uses additive manufacturing. The market is expected to grow as a result of the government's emphasis on promoting the use of additive manufacturing in the industrial industry.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to rise in investments by various international companies. Additionally, the market is anticipated to grow during the forecast period due to technological advancements, the implementation of novel approaches like machine learning and artificial intelligence across all industries to enhance automation, and the efficient use of R&D resources.
Key players in the market
Some of the key players profiled in the Additive Manufacturing Market include Nano Dimension Ltd., EnvisionTEC GmbH, Materialise NV, Hewlett-Packard Development Co., L.P., EOS GmbH, Arcam AB, General Electric Co., 3D Systems Corporation, SLM Solutions Group AG, ExOne Co., Stratasys Ltd., Optomec Inc., Mcor Technologies Ltd, Optomec Inc. and Materialise NV.
Key Developments:
In November 2021, Optomec Inc. has introduced two new additive manufacturing machines that are specifically built for large scale production and include robotic part-handling capabilities.
In November 2021, Stratasys Ltd. announced that ECCO, a Danish shoe company, is using Stratasys Origin one 3D printing technology to speed up product development by providing abstract footwear specimens to be analysed early in the process using 3D printed mould and lasts made with Henkel Loctite resin materials.
Material Types Covered:
• Alloys
• Ceramics
• Metals
• Plastics
• Other Material Types
Technologies Covered:
• Selective Laser Sintering
• Stereolithography
• Polyjet Printing
• Direct Metal Laser Sintering
• Electron Beam Melting
• Fuse Deposition Modeling
• Digital Light Processing
• Inkjet Printing
• Laser Metal Deposition
• Laminated Object Manufacturing
• Other Technologies
Softwares Covered:
• Inspection Software
• Scanning Software
• Printer Software
• Design Software
• Other Softwares
Applications Covered:
• Tooling
• Prototyping
• Functional Parts
• Other Applications
End Users Covered:
• Aerospace
• Architecture
• Automotive
• Consumer Goods
• Defence
• Healthcare
• Industrial
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Additive Manufacturing Market, By Material Type
5.1 Introduction
5.2 Alloys
5.3 Ceramics
5.4 Metals
5.5 Plastics
5.6 Other Material Types
6 Global Additive Manufacturing Market, By Technology
6.1 Introduction
6.2 Selective Laser Sintering
6.3 Stereolithography
6.4 Polyjet Printing
6.5 Direct Metal Laser Sintering
6.6 Electron Beam Melting
6.7 Fuse Deposition Modeling
6.8 Digital Light Processing
6.9 Inkjet Printing
6.10 Laser Metal Deposition
6.11 Laminated Object Manufacturing
6.12 Other Technologies
7 Global Additive Manufacturing Market, By Software
7.1 Introduction
7.2 Inspection Software
7.3 Scanning Software
7.4 Printer Software
7.5 Design Software
7.6 Other Softwares
8 Global Additive Manufacturing Market, By Application
8.1 Introduction
8.2 Tooling
8.3 Prototyping
8.4 Functional Parts
8.5 Other Applications
9 Global Additive Manufacturing Market, By End User
9.1 Introduction
9.2 Aerospace
9.3 Architecture
9.4 Automotive
9.5 Consumer Goods
9.6 Defence
9.7 Healthcare
9.8 Industrial
9.9 Other End Users
10 Global Additive Manufacturing Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Nano Dimension Ltd.
12.2 EnvisionTEC GmbH
12.3 Materialise NV
12.4 Hewlett-Packard Development Co., L.P.
12.5 EOS GmbH
12.6 Arcam AB
12.7 General Electric Co.
12.8 3D Systems Corporation
12.9 SLM Solutions Group AG
12.10 ExOne Co.
12.11 Stratasys Ltd.
12.12 Optomec Inc.
12.13 Mcor Technologies Ltd
12.14 Optomec Inc.
12.15 Materialise NV
List of Tables
1 Global Additive Manufacturing Market Outlook, By Region (2020-2028) ($MN)
2 Global Additive Manufacturing Market Outlook, By Material Type (2020-2028) ($MN)
3 Global Additive Manufacturing Market Outlook, By Alloys (2020-2028) ($MN)
4 Global Additive Manufacturing Market Outlook, By Ceramics (2020-2028) ($MN)
5 Global Additive Manufacturing Market Outlook, By Metals (2020-2028) ($MN)
6 Global Additive Manufacturing Market Outlook, By Plastics (2020-2028) ($MN)
7 Global Additive Manufacturing Market Outlook, By Other Material Types (2020-2028) ($MN)
8 Global Additive Manufacturing Market Outlook, By Technology (2020-2028) ($MN)
9 Global Additive Manufacturing Market Outlook, By Selective Laser Sintering (2020-2028) ($MN)
10 Global Additive Manufacturing Market Outlook, By Stereolithography (2020-2028) ($MN)
11 Global Additive Manufacturing Market Outlook, By Polyjet Printing (2020-2028) ($MN)
12 Global Additive Manufacturing Market Outlook, By Direct Metal Laser Sintering (2020-2028) ($MN)
12 Global Additive Manufacturing Market Outlook, By Electron Beam Melting (2020-2028) ($MN)
14 Global Additive Manufacturing Market Outlook, By Fuse Deposition Modeling (2020-2028) ($MN)
15 Global Additive Manufacturing Market Outlook, By Digital Light Processing (2020-2028) ($MN)
16 Global Additive Manufacturing Market Outlook, By Inkjet Printing (2020-2028) ($MN)
17 Global Additive Manufacturing Market Outlook, By Laser Metal Deposition (2020-2028) ($MN)
18 Global Additive Manufacturing Market Outlook, By Laminated Object Manufacturing (2020-2028) ($MN)
19 Global Additive Manufacturing Market Outlook, By Other Technologies (2020-2028) ($MN)
20 Global Additive Manufacturing Market Outlook, By Software (2020-2028) ($MN)
21 Global Additive Manufacturing Market Outlook, By Inspection Software (2020-2028) ($MN)
22 Global Additive Manufacturing Market Outlook, By Scanning Software (2020-2028) ($MN)
23 Global Additive Manufacturing Market Outlook, By Printer Software (2020-2028) ($MN)
24 Global Additive Manufacturing Market Outlook, By Design Software (2020-2028) ($MN)
25 Global Additive Manufacturing Market Outlook, By Other Softwares (2020-2028) ($MN)
26 Global Additive Manufacturing Market Outlook, By Application (2020-2028) ($MN)
27 Global Additive Manufacturing Market Outlook, By Tooling (2020-2028) ($MN)
28 Global Additive Manufacturing Market Outlook, By Prototyping (2020-2028) ($MN)
29 Global Additive Manufacturing Market Outlook, By Functional Parts (2020-2028) ($MN)
30 Global Additive Manufacturing Market Outlook, By Other Applications (2020-2028) ($MN)
31 Global Additive Manufacturing Market Outlook, By End User (2020-2028) ($MN)
32 Global Additive Manufacturing Market Outlook, By Aerospace (2020-2028) ($MN)
33 Global Additive Manufacturing Market Outlook, By Architecture (2020-2028) ($MN)
34 Global Additive Manufacturing Market Outlook, By Automotive (2020-2028) ($MN)
35 Global Additive Manufacturing Market Outlook, By Consumer Goods (2020-2028) ($MN)
36 Global Additive Manufacturing Market Outlook, By Defence (2020-2028) ($MN)
37 Global Additive Manufacturing Market Outlook, By Healthcare (2020-2028) ($MN)
38 Global Additive Manufacturing Market Outlook, By Industrial (2020-2028) ($MN)
39 Global Additive Manufacturing Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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