Additive Manufacturing Market Size to Grow at a CAGR of 21.75% | Valuates Reports

BANGALORE, India, Aug. 12, 2022 /PRNewswire/ -- The Global Additive Manufacturing Market is Segmented by Type (Photopolymer, PLA, ABS, PMMA), by Application (Aerospace & Defense, Automotive, Consumer Goods, Medical & Dental, Education): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Manufacturing Category.

The global additive manufacturing market size is USD 15.2 Billion in 2021 with a CAGR of 21.75% from 2022 to 2028.

Major Factors Driving the Growth of the Additive Manufacturing Market

The rapid adoption of industrial 3d printers in automotive, consumer goods, aerospace and defense, medical devices, dental, and education will fuel the market growth during the forecast period.

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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL ADDITIVE MANUFACTURING MARKET

Additive manufacturing, especially the 3d printing metals market solves several challenges faced by the automotive industry. It is used for manufacturing customized high-quality grips, jigs, and fixtures. This ensures automakers are able to produce samples, and tools at low costs and avoid future losses in production. Many time-consuming, repetitive, and heavy-burden tasks like pressing badges and emblems on vehicles are automated with greater ergonomic design and accuracy. This will fuel the additive manufacturing market growth. Specific parts are tailored to vehicles layer by layer making them custom and lightweight. It is also used for producing seats and metal parts for racing vehicles. The prototype and performance validation and testing process is enhanced through small quickly printed details to high full-scale parts.

Production and development cycles of consumer goods are prone to process-related material waste and overproduction. 3d printing offers many advantages like flexible design, faster iteration cycles, and cost savings in comparison to traditional techniques like injection molding, vacuum casting, and CNC machining. Enterprises are able to achieve maximum geometric design freedom which is otherwise not possible through conventional methodologies. This will foster the growth of the global additive manufacturing market. Personalized headphones and footwear create new customization capabilities as it does not require extensive tooling changes based on individual specifications.

Prototyping using 3d printing provides improved functionality and easy consolidation of parts. The printing process is suitable for full-size landing gear enclosures to the full-color control board concept models. Production volumes in the aerospace sector reach more than 70000 parts every year. Industrial printers are able to print at full scale and size thereby bolstering the demand for the additive manufacturing market in the coming years. It is a viable option, particularly for high-end interior build-outs and medium-sized production runs.

3D printing is enabling the manufacturing of complex-shaped implants, hearing aids, and personalized prosthetics. It is efficient in the production of all-purpose tools and one-off devices. It pinpoints the exact location for the drill and improves the accuracy of dental surgery by creating an entire set of dentures perfectly fitting the patient's mouth.

3D printing technologies are playing a major role in STEM education. Students are using fused filament fabrication to create artifacts, artwork, chemistry models, topographic maps, and models of math problems. This will drive the growth of the additive manufacturing market in the forthcoming years. AM capabilities enable the easy introduction of newer concepts and an increased engagement rate.

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ADDITIVE MANUFACTURING MARKET SHARE ANALYSIS

Based on application, the automotive segment is expected to dominate in the additive manufacturing market share due to the growing adoption of 3d printing tools by automobile manufacturers for quick fabrication which lowers production and development costs.

Based on region, North America will be the most lucrative due to the growing need for 3d printing, modeling, designing, and manufacturing across several industry verticals

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Key Companies

  • Stratasys
  • 3D Systems
  • EOS
  • Voxeljet
  • Envision Tec
  • Taulman 3D
  • Asiga
  • Bucktown Polymers
  • Carima
  • DWS
  • ColorFabb
  • Mitsubishi Chemical
  • Esun

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Global 3D Printing (Additive Manufacturing) Market Size, Status and Forecast 2022-2028

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-  The supply chain management market was valued at USD 18,699.45 Million in 2020, and is projected to reach USD 52,632.37 Million by 2030, registering a CAGR of 10.7%.

-  The Polymethyl Methacrylate market was valued at USD 4752.2 Million in 2022, and it is anticipated to reach USD 6589.9 Million by 2028, registering a CAGR of about 5.6% during the forecast period (2022–2028).

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-  The global Semiconductor Manufacturing Equipment market size is projected to reach USD 53200 Million by 2027, from USD 39510 Million in 2020, at a CAGR of 3.9% during 2021-2027.

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-  The global SCADA market size is projected to reach USD 15710 Million by 2027, from USD 10230 Million in 2020, at a CAGR of 6.3% during 2021-2027.

Global Healthcare Device Contract Manufacturing Market Insights and Forecast to 2028

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-  The global Factory Automation market size is expected to reach USD 368,372.4 Million in 2025, from USD 190,882.2 Million in 2017 growing at a CAGR of 8.8% from 2018 to 2025.

-  The global connector market was valued at USD 62.3 Billion in 2020, and is projected to reach USD 114.7 Billion by 2030, growing at a CAGR of 6.6% from 2021 to 2030.

-  The global Industrial Packaging market size is projected to reach USD 66090 Million by 2026, from USD 49000 Million in 2019, at a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period 2021-2026.

-  The global Industrial Automation market size is projected to reach USD 212410 Million by 2027, from USD 130710 Million in 2020, at a CAGR of 6.7% during 2021-2027.

-  The global Risk Analytics market size is projected to reach USD 36670 Million by 2028, from USD 20230 Million in 2021, at a CAGR of 8.4% during 2022-2028.

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