NEWARK, Del, March 23, 2023 (GLOBE NEWSWIRE) -- The global additive manufacturing and material market revenues totaled US$ 26.8 billion in 2022. Over the next decade, additive manufacturing and material demand is set to rise at 21.2% CAGR. Accordingly, by the end of 2032, the global market will cross a valuation of US$ 183 billion.
Stereolithography will continue to remain the most commonly used 3D printing technology. This is due to various advantages that this additive manufacturing technology offers. The target segment will exhibit a 21.1% CAGR from 2022 to 2032 as per Future Market Insights.
Growing adoption of additive manufacturing technologies by diverse industries is driving the global market. Similarly, advancements in 3D technology will boost sales over the projection period.
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Latest advancements in 3D printing have made it possible to put materials more precisely and flexibly. This in turn has tremendously improved additive manufacturing. These materials are better and more valuable than conventional goods such as resin, since they can self-assemble, self-heal, and self in reaction to outside stimuli.
The capacity of materials used in 4D printing to change their shapes and colors in response to UV and visible light has raised demand. Today, more and more industries are shifting towards additive manufacturing technologies. This will continue to boost additive manufacturing material demand.
The automobile industry is leading the way in integrating additive manufacturing and materials. This is due to rising adoption of 3D printing technologies for prototyping applications in this industry.
Rising demand from medical device, aerospace, and electronics sectors will boost the global market. Besides this, penetration of industry 4.0 and innovations in 3D printers are likely to fuel sales.
Key Takeaways from the Additive Manufacturing and Material Market Report:
- Global demand for additive manufacturing and materials will rise at 21.2% CAGR through 2032.
- By technology, stereo lithography segment is set to rise at 21.1% CAGR.
- Based on end user, automotive segment will thrive at 21.0% CAGR over the next ten years.
- The USA additive manufacturing and material market will cross US$ 57 billion mark by 2032.
- Additive manufacturing and material sales in China will increase at 22.3% CAGR.
- Japan additive manufacturing and material market will reach US$ 13.2 billion by 2032.
- Demand in Korea market is forecast to surge at 21.6% CAGR during the assessment period.
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“Growing popularity of 3D printing technology due to its several advantages will boost the market. Besides this, focus on improving productivity and reducing production costs will fuel demand.” Says a lead Future Market Insights analyst.
Who is winning?
3D Systems Corporation, Envision TEC GmbH, Stratasys Ltd, General Electric Company, Materialise NV, EOS GmbH, SLM Solutions Group AG, CleanGreen 3d Limited, Exone Company, and Optomec Inc. are key companies operating the market.
Most of these players are introducing novel additive manufacturing solutions to gain profits. They are also adopting strategies such as acquisitions, mergers, and collaborations to expand their presence.
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Key Segments of Additive Manufacturing and Material Market
By Technology:
- Stereo Lithography
- Fused Deposition Modeling
- Laser Sintering
- Binder Jetting Printing
By End User:
- Healthcare
- Aerospace and Defence
- Automotive
- Industrial
By Material:
- Plastic
- Metals
- Ceramics
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Explore FMI’s related ongoing Coverage on Technology Domain
3D Printing Market Size: The global 3D printing market is expected to reach a market valuation of US$ 22.9 Billion by the year 2022, accelerating with an impressive CAGR of 20.5% by 2022 to 2032. The 3D printing market share is anticipated to be valued at about US$ 148.4 Billion by 2032 end.
3D Printing Materials Market Share: The 3D printing materials market is predicted to be worth roughly US$ 6.6 billion by 2033, up from US$ 1.8 billion in 2023, and to increase at a compound annual growth rate of 14.2% from 2023 to 2033.
3D Display Market Trends: The 3D display market revenue totalled US$ 94.3 Billion in 2022. The 3D display market is expected to reach US$ 433.1 Billion by 2033, growing at a CAGR of 15.0% for 2023 to 2033.
Micro Printing Market Outlook: The Micro Printing Market revenue totalled US$ 595.8 Mn in 2021 and is estimated to reach US$ 1,459.2 Million by 2032, growing at a CAGR of 8.6% for 2022 to 2032.
Robotic Process Automation Market Demand: The robotic process automation market revenue in 2022 was US$ 2,599.3 Million. The market is expected to reach US$ 24,633.4 Million by 2033, as it is estimated to grow at a CAGR of 22.8% for 2023 to 2033.
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