Dublin, Aug. 27, 2024 (GLOBE NEWSWIRE) -- The "Additive Manufacturing - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Additive Manufacturing was estimated at US$19.8 Billion in 2023 and is projected to reach US$68 Billion by 2030, growing at a CAGR of 19.3% from 2023 to 2030.
How Are Different Materials Pushing the Boundaries of Additive Manufacturing?
The versatility of materials in additive manufacturing is one of its most compelling aspects. Early 3D printing primarily used plastics like PLA and ABS, suitable for prototyping and hobbyist projects. However, the field has expanded to include high-performance materials such as carbon fiber composites, metals like titanium and aluminum, and ceramics that withstand high temperatures and wear. Each material brings unique properties to the table, broadening the scope of applications.
For instance, metal additive manufacturing is gaining traction in aerospace and automotive industries for producing lightweight, strong components that can endure extreme conditions. Similarly, biocompatible materials are making headway in medical applications, allowing for custom implants and prosthetics tailored to individual patients. This diversification of materials is pushing the boundaries of what can be achieved, making additive manufacturing an integral part of many cutting-edge industrial processes.
In What Ways Is Additive Manufacturing Transforming Industries?
Industries across the board are experiencing significant transformations thanks to additive manufacturing. In the aerospace sector, the ability to produce complex parts with reduced weight and enhanced performance characteristics is crucial. Companies like Boeing and Airbus are integrating 3D printed components into their aircraft, leading to more efficient and cost-effective production. The healthcare industry is also witnessing revolutionary changes, with custom prosthetics, dental implants, and even bioprinted organs becoming increasingly viable.
Automotive manufacturers are leveraging additive manufacturing for rapid prototyping, allowing for faster iterations and more innovative designs. Furthermore, the consumer goods sector is benefiting from the technology's ability to produce customized products on demand, ranging from bespoke fashion items to personalized electronics. This level of customization and rapid production is fostering a new era of consumer interaction and satisfaction.
What is Driving the Growth in the Additive Manufacturing Market?
The growth in the additive manufacturing market is driven by several factors that are reshaping the landscape of production and manufacturing. Technological advancements are at the forefront, with continuous improvements in printer capabilities, speed, and precision making the technology more accessible and efficient. The decreasing cost of 3D printers and materials is also a significant driver, enabling more businesses, including small and medium enterprises, to adopt additive manufacturing. In terms of end-uses, the expanding applications in industries such as healthcare, aerospace, automotive, and consumer goods are propelling market growth. Consumer behavior is shifting towards a preference for customized, on-demand products, which additive manufacturing is uniquely positioned to provide.
Additionally, the push for sustainability and reducing waste is encouraging industries to adopt additive manufacturing, which uses materials more efficiently and produces less waste compared to traditional manufacturing methods. These growth drivers collectively underscore the dynamic and rapidly evolving nature of the additive manufacturing market, positioning it as a cornerstone of future industrial development.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Metals Material segment, which is expected to reach US$44.4 Billion by 2030 with a CAGR of a 22.2%. The Polymers Material segment is also set to grow at 13.9% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $5.4 Billion in 2023, and China, forecasted to grow at an impressive 27.4% CAGR to reach $18.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Additive Manufacturing Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Additive Manufacturing Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Additive Manufacturing Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as 3D Systems, Inc., Arcam AB, EnvisionTEC, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 50 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $19.8 Billion |
| Forecasted Market Value (USD) by 2030 | $68 Billion |
| Compound Annual Growth Rate | 19.3% |
| Regions Covered | Global |
Key Topics Covered:
1. MARKET OVERVIEW
- Influencer Market Insights
- Additive Manufacturing - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
2. FOCUS ON SELECT PLAYERS
- 3D Systems
- Arcam
- EnvisionTEC
- EOS GmbH Electro Optical Systems
- Exone
- MakerBot Industries
- Materialise
- MCOR Technologies
- Optomec
- Stratasys
3. MARKET TRENDS & DRIVERS
- Technological Advancements Propel Growth in Additive Manufacturing
- Cost Reduction in 3D Printing Technologies Strengthens Business Case
- Expanding Material Options Accelerates Demand for Additive Manufacturing Solutions
- Rising Adoption in Aerospace and Automotive Industries Spurs Market Expansion
- Sustainability Trends Drive Adoption of Additive Manufacturing
- Growing Use of Additive Manufacturing in Healthcare Drives Demand
- Consumer Preferences for Personalized Products Spur Market Growth
- Emerging Applications in Construction and Architecture Propel Market Forward
- Advances in Metal Additive Manufacturing Techniques Expand Industrial Applications
- Increased Focus on Lightweight Materials in Aerospace and Defense Spurs Demand
- Evolution of Biocompatible Materials Generates Opportunities in Medical Applications
- Cloud-Based 3D Printing Solutions Enhance Accessibility and Scalability
- Rapid Prototyping Capabilities Shorten Product Development Cycles
- Enhanced Software Solutions for Design and Simulation Propel Market Adoption
For more information about this report visit https://www.researchandmarkets.com/r/rhqdr
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