Dublin, Sept. 17, 2024 (GLOBE NEWSWIRE) -- The "Global Additive Manufacturing Market Size, Share, Forecast, & Trends Analysis by Offering, Technology, End-user, and Geography - Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
The additive manufacturing market is projected to reach $93.36 billion by 2031, at a CAGR of 20.3% from 2024 to 2031.
This market is driven by the rising need to produce complex parts, reduce manufacturing expenses, and minimize waste, improvements in product development and supply chains, and easy customization and bulk production using additive manufacturing.
In 2024, North America is expected to account for the largest share of the additive manufacturing market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The large share of North America is attributed to factors such as the presence of key market players and the growing demand for customized 3D-printed products in the region across healthcare, consumer electronics, aerospace & defense, and automotive sectors. The region is also growing in its adoption of industrialization 4.0, increasing collaborations & investments by enterprises in the development of advanced 3D printing and its materials, and supportive government initiatives.
Furthermore, the growing use of 3D printers to produce functional end-use parts, composite 3D printing, increasing use of 3D printing in regenerative medicine, and increasing spending in aerospace & defense provide a significant growth opportunity for this market. However, the restricted build size & material constraints and high pre-processing and post-processing costs may restrain the growth of this market. Additionally, concerns about piracy & unauthorized distribution, scarcity of skilled professionals, high initial investment requirements, and maintaining consistent quality pose a major challenge for the players operating in this market.
Among offerings, in 2024, the services segment is expected to account for the largest share of the additive manufacturing market. Some of the services included in the segment are additive manufacturing services, education, repair & maintenance or consulting services, and training services associated with additive manufacturing hardware and software. The large market share of this segment is attributed to the growing adoption of additive manufacturing, increased funding for companies in this sector, heightened interest from manufacturers in 3D printing, and the expanding number of industries utilizing additive manufacturing to enhance value-added services.
Among technologies, in 2024, the fused deposition modeling (FDM) segment is expected to account for the largest share of the additive manufacturing market. FDM systems allow users to adjust several process parameters, such as nozzle and build platform temperatures, build speed, layer height, and cooling fan speed. The cost efficiency, ease of utilization, use of thermoplastics, preference of major market players as compared to other technologies, and the user-friendly nature of this technology are expected to boost the growth of this segment.
Among end users, in 2024, the consumer products segment is expected to account for the largest share of the additive manufacturing market. Consumer products include categories from the fashion, eyewear, footwear, and personalized accessories sectors. These products are relatively easy to manufacture and, therefore, accelerate product development cycles. The largest share of the segment is attributed to the increasing production of consumer electronics, increasing spending on jewelry & luxury goods, and rising demand for decorative art.
Market Insights
Factors Affecting Market Growth
- Ease of Customization & Bulk Production with Additive Manufacturing Driving Market Growth
- Restricted Build Sizes & Material Constraints Limiting the Adoption of Additive Manufacturing
- Growing Use of 3D Printers to Produce Functional End-use Parts Generating Growth Opportunities for Market Players
- Concerns About Piracy & Unauthorized Distribution Expected to Remain a Major Challenge Impacting Market Growth
Trends
- Use of Artificial Intelligence (AI) in 3D Printing
- On-Demand Spare Products Production
- Increased Product Customization
Case Studies
- Additive Manufacturing in the Automotive Industry
- Additive Manufacturing in Motor Vehicle Manufacturing
- Additive Manufacturing in Digital Manufacturing
Value Chain Analysis
Porter's Five Forces Analysis
Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- 3D Systems Corporation (U.S.)
- 3DCeram (France)
- Arcam AB (Sweden)
- Autodesk Inc. (U.S.)
- Canon Inc. (Japan)
- Dassault Systemes SE (France)
- Stratasys Ltd. (U.S.)
- voxeljet AG (Germany)
- ExOne Operating LLC (U.S.)
- MakerBot Industries LLC (U.S.)
- Materialise NV (Belgium)
- EOS GmbH (Germany)
- Optomec Inc. (U.S.)
- Proto Labs Inc. (U.S.)
- Shapeways Holdings Inc. (U.S.)
Competition Analysis
- Key Growth Strategies
- Competitive Benchmarking
- Competitive Dashboard
- industry Leaders
- Market Differentiators
- Vanguards
- Emerging Companies
- Market Share Analysis (2023)
- Stratasys, Ltd. (U.S.)
- 3D Systems Corporation (U.S.)
- EOS GmbH (Germany)
Scope of the Report:
Additive Manufacturing Market Assessment-by Offering
- Hardware
- Software
- Materials
- Polymers
- Metals
- Ceramics
- Composites
- Other Materials
(Other materials include resins, alloys, and sandstone)
- Services
Additive Manufacturing Market Assessment-by Technology
- Fused Deposition Modeling (FDM)
- Selective Laser Sintering (SLS)
- Direct Metal Laser Sintering (DMLS)
- PolyJet
- Stereolithography (SLA)
- Digital Light Processing (DLP)
- Directed Energy Deposition (DED)
- Multi Jet Fusion
- Binder Jetting
- LCD 3D Printing
- Laser Metal Fusion (LMF)
- Electron Beam Melting (EBM)
- Selective Absorption Fusion (SAF)
- Other Technologies
(Other technologies include Continuous Liquid Interface Production (CLIP), Selective Deposits Layer (SDL), and Laminated Object Manufacturing (LOM).
Additive Manufacturing Market Assessment-by End User
- Consumer Products
- Consumer Electronics
- Jewelry & Luxury Goods
- Decorative Art
- Parts & Fixtures
- Healthcare
- Dental
- Prosthetic Printing
- Prototype and 3D Models
- Instrument Printing
- Bioprinting Tissues and Organs
- Automotive
- Custom & Spare Parts
- Prototyping
- Mounts & Fixtures
- General Manufacturing
- Machinery & Equipment Manufacturing
- Molds and Tools Printing
- Parts & Prototype Printing
- Electronics & Semiconductors
- IC & PCB
- Electronic Components
- Aerospace & Defense
- Prototype & Test Units
- Body & Spare Parts
- Weapon Printing
- Mounts & Fixtures
- Chemicals & Materials
- Energy and Oil & Gas
- Other End Users
(Other end users include food, fashion and clothing, architecture, and academic research)
For more information about this report visit https://www.researchandmarkets.com/r/wv487s
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