Additive Manufacturing Market Is Likely To Experience A Tremendous Growth 20.09% In Near Future | Size, Top Players

(MENAFN- EIN Presswire)

Additive manufacturing market Is Likely to Experience a Tremendous Growth 20.09% in Near Future | Size, Top Players

PUNE, MAHARASHTRA, INDIA, December 20, 2022 /einpresswire.com / -- The additive manufacturing market is concerned with the design, production and distribution of yarn, cloth, clothing and garments. The raw material may be metal, plastics, alloys and ceramic. The additive manufacturing industries contribute significantly to the national economy of many countries. Growing demand for lightweight components from the automotive and aerospace categories and advancement in 3D metal printing technologies has highly increased the demand in the global additive manufacturing market .

Data Bridge Market research has recently released expansive research titled ' Additive Manufacturing Market ' which guarantees you will remain better informed than your competition. When compiling this report on the global Additive Manufacturing Market, several factors are taken into consideration, including the type of market, the size of the organization, the availability on-premises, the organization type of the end users, and the availability in regions such as North America, South America, Europe, Asia-Pacific, and the Middle East and Africa. In addition to this, it describes all of the most recent developments, product launches, joint ventures, mergers, and acquisitions that have been made by the numerous key players and brands that are driving the market with systemic company profiles. Your company will be better equipped with knowledge thanks to the Additive Manufacturing Market report, which was compiled using reliable research techniques.

Data Bridge Market Research analyses that the market is growing with a CAGR of 20.9% in the forecast period of 2023 to 2030 and is expected to reach USD 91,853.88 million by 2030. The major factor driving the growth of the additive manufacturing market is the increasing demand for lightweight components from the automotive and aerospace industries.

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Market Overview:

Additive manufacturing (AM) is different from the subtractive method of production, which envisages grinding out unnecessary material from a block of material. The use of additive manufacturing in industrial applications usually refers to 3D printing. Additive manufacturing involves a layer-by-layer addition of material to form an object while referring to a three-dimensional file with the help of a 3D printer and 3D printer software. A suitable additive manufacturing technology is selected from the available set of technologies depending upon the application.

The global additive manufacturing market report provides details of market share, new developments, and the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue-impact solution to achieve your desired goal.

Some of the major players operating in the Additive Manufacturing Market are:

ANSYS Inc
Höganäs AB
EOS
ARBURG GmbH + Co KG
Stratasys
Renishaw plc
YAMAZAKI MAZAK CORPORATION
Materialise
Markforged
Titomic Limited
SLM Solutions
Proto Labs
ENVISIONTEC US LLC
Ultimaker BV
American Additive Manufacturing LLC
Optomec, Inc
3D system Inc
ExOne (A Subsidiary of Desktop Metal, Inc.)

Recent Development

In February, SLM Solutions launched the SLM.Quality. It is a quality assurance software solution that enables customers to perform build job evaluations and process qualifications and part certifications more efficiently. Whether it's for single part or series production, the SLM. Quality solutions can support industrial customers during the qualification process, improving the traceability and documentation of key process data. This development will help the company to attract more customers.
In February, SLM Solutions and Assembrix jointly announced the successful integration of the Assembrix VMS software with SLM Solutions machines across the globe. This new partnership will meet the growing demand by OEMs for secure distributed additive manufacturing and enable the creation of a reliable, international additive manufacturing ecosystem.

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Opportunities For Players

Increasing government funding to promote additive manufacturing

Additive manufacturing has immense potential to revolutionize the manufacturing and industrial production landscape through digital processes, communication and imaging. Additive manufacturing is a trending business that has high demand from various industries like aerospace, automotive, medical sector, electronics, fashion etc. seeing the potential possibility of this sector's contribution to the nation's economy, governments of different countries are coming up with a different strategy to support and promote this industry.

Advancement in the healthcare sector

In the medical field, every patient is unique, and therefore additive manufacturing has a high potential to be utilized for personalized and customized medical applications. The most common medical clinical used are personalized implants and medical model saws guides. In dental fields, additive manufacturing products are used in splints, orthodontic appliances, dental models and drill guides. However, additive manufacturing products are also used to make artificial tissues and organs, which can be used for study purposes in a research institute or in between doctor and patients consultation. The development of digitalizing medical imaging that digitalization allows for the reconstruction of 3D models from patients' anatomy. The typical workflow of the personalized medical device starts with imaging or capturing the patient's geometry of the anatomy using computed 3D scanning methods. Such data can be utilized to print 3D models of a patient's anatomy or can be used to create personalized devices or implants.

Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors

Provision of market value (USD Million) data for each segment and sub-segment
Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
Includes an in-depth analysis of the market of various perspectives through Porter's five forces analysis
Provides insight into the market through Value Chain
Market dynamics scenario, along with growth opportunities of the market in the years to come

Additive Manufacturing Market Drivers

Increasing demand for lightweight components from the automotive and aerospace industries

The automotive and aerospace sector requires numerous interacting technical and economic objectives of functional performance, lead time reduction, lightweight, cost management and delivery of safety-critical components. To meet the demand and to compensate for the fuel consumption and cost management to enhance the technical performance and allowable to make a lighter structure which directly related to enhancing economic and technical performance and which will help the airlines industry to carry more payload, which will directly improve their revenue. Additive manufacturing technologies, unlike conventional traditional manufacturing, use layer-by-layer manufacturing based on typical powder or wire and materials like plastic polymer, which is light in weight.

Advantages offered by additive manufacturing in various end-user industries

Industries like aerospace were some of the industries that used additive manufacturing products for their performance, and aeroplane parts are used by additive manufacturing products that are lightweight and can withstand harsh environmental conditions, due to less material required and by the process of forming materials layers by layers, aerospace industries utilize it as the advantage for weight reduction and waste reduction, which are very important for the manufacturing of aerospace parts for major companies.

In rapidly innovating medical industries, the utilization of additive manufacturing products is of great advantage for doctors, patients and research institutions. Through functional prototype design provided by additive manufacturing technologies, it has been of great advantage to create a flexible design of various design lifesaving tools needed for surgical and study purposes, tools used in the dental procedure, pre-surgery models for CT scans, custom saw and drill guides, enclosure and specialized instrumentation.

Easy customization and bulk production using additive manufacturing

Additive manufacturing customization, unlike traditional manufacturing, doesn't add additional cost for customization and doesn't require any certain mold or tools for the design it just needs a prototype 3D design and can be created by the customer itself because of the easy customization and fast production there is high demand, and we can mass produce any unique design without hampering the cost and time when making use of the 3D printers. Not only does it provide mass customized production, but it also gives the consumer a unique buyer and consumer experience where it gives them the feeling of belongingness and consumer satisfaction compared to the counterpart who doesn't provide personalized design. It also allows the consumer to buy the design of their choice. For example, NIKE, a shoe manufacturer, sells shoes on their website with a 3D design where the consumer can add their colour choice on their own without much hesitation. This will add an advantage to market competition since, through this system, it lets the manufacturer know their client.

Rise in industrialization and advancement in 3D metal printing technology

With the rise in industrialization, there is a huge demand for 3D metal printing products in industries like aerospace, automotive, health care and others industries. With the demand from various fields for parts in aerospace for their jets engine and other structural parts to customize parts in automotive industries to customize the design of shoes and other electronic gadgets, there is a demand for the rigorous development of 3D printing technologies, which will perform more efficiently and can produce the product at a much faster rate with more precision. So the demand for the advancement and convenience of additive manufacturing technologies lead to an increase in the demand for 3D metal printing technologies.

Restraints/Challenges

High costs of the equipment, machinery and lack of skilled professional

The benefits that additive manufacturing provides have opened wide horizons for creating absolutely any 3D shapes and components. But not every business does not have the capacity to affordably integrate this type of activity into their business processes. Some of the most common causes that hinder the future of additive manufacturing are the high cost of equipment and the lack of professionals in this industry.

The average price for additive manufacturing equipment is between USD 300,000 to USD 1.5 million. The industrial consumables cost varies from USD 100 to USD 150 per piece. Although, the final price depends on the chosen material, such as plastic, which is considered the most budget-friendly option among all other materials available. The time required is also quite high as it takes more than an hour to print a 40cm object.

Lack of software efficiency

Additive manufacturing using the laser powder-bed fusion (PBF) process has the ability to build complex and intricate shapes along with organic structures which were previously too expensive or complex to make using traditional manufacturing operations. For example, the design freedoms achieved by laser PBF could be exploited for lightweight components to build the most intricate lattice structures for more efficient material usage. But, laser PBF has its disadvantages. It includes thin-walled/high-aspect-ratio parts that might fail during a build, difficult-to-remove support structures, layering effects on surface roughness and different process parameter settings such as laser settings for up-skin versus down-skin surfaces.

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Global Additive Manufacturing Market Scope

Material Type

Metals
Plastics
Alloys
Ceramics

Technology

Stereolithography (SLA)
Fused disposition modelling (FDM)
Laser sintering (LS)
Binder Jetting printing
Polyjet printing
Electron Beam melting (EBM)
Laminated object manufacturing (LOM)
Others

Application

Automotive
Healthcare
Aerospace
Consumer Goods
Industrial
Defence
Architecture
Others

Additive Manufacturing Market Country Level Analysis

The countries in the global additive manufacturing market are the U.S., Canada, Mexico, U.K., Russia, France, Spain, Italy, Germany, Turkey, Netherlands, Switzerland, Belgium, Rest of Europe, Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand, and the Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Egypt, Saudi Arabia, United Arab Emirates, South Africa, Israel and Rest of the Middle East and Africa.

North America dominates the global additive manufacturing market. The U.S. dominates in the North American region due to advanced development in technologies. Regional markets like the European market also have a prominent share in the global additive manufacturing market, followed by Asia pacific, Middle East and Africa and lowest market of South America.

Critical Insights Related to the Additive Manufacturing Included in the Report:

Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
Value chain analysis of prominent players in the market
Current trends influencing the dynamics of this market across various geographies
Recent mergers, acquisitions, collaborations, and partnerships
Revenue growth of this industry over the forecast period
Marketing strategy study and growth trends
Growth-driven factor analysis
Emerging recess segments and region-wise market
An empirical evaluation of the curve of this market
Ancient, Present, and Probable scope of the market from both prospect value and volume

Table of Content: Global Additive Manufacturing Market

Introduction
Market Segmentation
Executive Summary
Premium Insights
Market Overview
Global Additive Manufacturing Market , By Offering
Global Additive Manufacturing Market , By Data Center Type
Global Additive Manufacturing Market , By Deployment Mode
Global Additive Manufacturing Market , By Organization Size
Global Additive Manufacturing Market , By Application
Global Additive Manufacturing Market , By Vertical
Global Additive Manufacturing Market : Company Landscape
SWOT Analysis
Company Profile
Questionnaire
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