New York, Dec. 16, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on Additive Manufacturing Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material (Plastic, Metal, Ceramics, and Others), Technology [Selective Laser Sintering (SLS), Stereolithography (SLA), Fused Deposition Modeling (FDM), and Others], End User (Automotive, Aerospace, Healthcare, Industrial Manufacturing, and Others), and Geography. The projected market growth during the forecast period is attributed to the increasing demand for automation and cost-effective technology. The report highlights key factors driving the market and prominent players along with their developments in the market.
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Additive Manufacturing Market - Strategic Insights –
| Report Coverage | Details |
| Market Size Value in | US$ 10.38 Billion in 2022 |
| Market Size Value by | US$ 25.17 Billion by 2028 |
| Growth rate | CAGR of 16% from 2022 to 2028. |
| Forecast Period | 2022 to 2028 |
| Base Year | 2022 |
| No. of Pages | 137 |
| No. Tables | 17 |
| Historical data available | Yes |
| No. of chart and figures | 75 |
| Segments covered | Material Technologies and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Research Capabilities | Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
| Purchase Options | Request customized purchase options to meet your research needs. |
Additive Manufacturing Market: Competition Landscape
3D Systems; Stratasys, Inc.; Arcam AB; EOS GmbH; 3T RPD, LTD.; Envisiontec Gmbh; GPI Prototype and Manufacturing Services; 3D Hubs; Sciaky, Inc.; and ProtoCAM are among the major players operating in the global additive manufacturing market. Players operating in the global additive manufacturing market are constantly focusing on strategies such as investments in research and development activities and new product launches.
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In 2021, North America held the largest share of the global additive manufacturing market. The region is highly developed and has a leverage of advanced technologies. This gives ample opportunities to small & medium enterprises and large enterprises to better fulfill the requirement of their users. The additive manufacturing industry is expected to continue growing at an exponential rate. The use of technology is gaining a high momentum among several applications and industries, further leading to continuous developments and improvements in both materials and technology. Furthermore, the rising investment in the manufacturing sector is creating a demand for additive manufacturing, which, in turn, is driving the additive manufacturing market in the region.
The increasing competition in the manufacturing industry has a positive impact on engineering, procurement, and construction (EPC) to decrease production errors and operating expenditures. In the process of designing, manufacturing, and commissioning, certain international standards need to be followed to facilitate plant engineers to enhance quality. Designing of software and constant analysis and upgrading of standards can provide a solution to intensify quality and production. Therefore, companies worldwide are increasingly implementing automation into manufacturing processes to minimize production/construction errors.
Moreover, due to the massive increase in the demand for consumer-based products, error prevention, and automation has risen drastically in recent years. The specific products are expected to be handled with perfection, ensuring the maximization of the up-time. Furthermore, with the help of 3D software, physical parameters such as volume, pressure, temperature, and material can be added to ensure the designer selects an optimal option regarding cost and quality. The boost in demand for automation and cost-effective technology in the manufacturing sector to cope with the highly competitive market is driving the additive manufacturing market.
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Based on material, the additive manufacturing market is segmented into plastic, metal, ceramics, and others. The plastic segment held the largest share of the global additive manufacturing market in 2021. The most commonly used plastics include nylon, Acrylonitrile Butadiene Styrene (ABS), Polylactic Acid (PLA), Polyethylene terephthalate (PET), and High Impact Polystyrene (HIPS).
Based on technology, the additive manufacturing market is segmented into selective laser sintering (SLS), stereolithography (SLA), fused deposition modeling (FDM), and others. The fused deposition modeling (FDM) segment held the largest share of the global additive manufacturing market in 2021. It uses the material extrusion technique for additive manufacturing.
Based on end user, the additive manufacturing market is segmented into automotive, aerospace, healthcare, industrial manufacturing, and others. The industrial manufacturing segment held the largest share of the global additive manufacturing market in 2021. Industrial manufacturing includes the manufacturing of consumer electronics and machinery. Additive manufacturing provides the flexibility of producing small batches of detailed parts.
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The additive manufacturing market has experienced significant growth in the past few years and is expected to experience substantial growth and acceptance in the years to come. The major reason for the increased adoption of additive manufacturing is the growing need for automation and cost-effective technologies in the manufacturing sector. The implementation of additive manufacturing technologies in manufacturing helps in the mass production of complex shapes and parts with reduced lead times. Additive manufacturing has replaced traditional methods due to its high accuracy and speed of production. Additive manufacturing is transforming production in a range of applications. Further, fused deposition modeling (FDM), stereolithography (SLA), and selective laser sintering are the primary technologies used in additive manufacturing. These technologies offer variations in surface finish, dimensional accuracy, and post-processing requirements. FDM is the leading technology in the global additive manufacturing market which is ideal for engineering-grade thermoplastic filaments to produce functional parts.
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