The global additive manufacturing market size is expected to reach USD 70.08 Billion in 2030 and register a revenue CAGR of 21.1% over the forecast period, according to latest report by Reports and Data. Rapid market revenue growth of additive manufacturing can be attributed to various factors, such as ease of manufacturing complex designs with additive manufacturing, development of new and improved technologies, and increasing government funding in additive manufacturing. However, lack of standardized equipment is a major restraint that is expected to adversely affect market revenue growth.
In the healthcare industry, 3D data obtained from scans are used to manufacture 3D printing models, which enables surgeons to practice intricate surgical techniques on realistic models and to be more precise and operate faster. Additive manufacturing is used in the dental industry on a large scale to develop accurate and tailored solutions to fix dental problems. Patient-specific implants are also being manufactured using 3D printing technologies. 3D printed surgical cutting and drilling tools, prosthetics, artificial organs, and designer drugs are other applications of additive manufacturing that have huge potential to drive market growth. Growth of the healthcare industry across the globe, especially in developing countries, to prevent the spread of various types of diseases and reduce mortality rate, is expected to drive market revenue growth.
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Some Key Highlights from the Report
- Among technology segments, stereolithography segment accounted for largest revenue share in 2021 and is expected to register a faster revenue CAGR during the forecast period. Stereolithography is the most common form of additive manufacturing process, and a major advantage of this process is that parts/components can be manufactured in a short time, as the time required for curing is less. The process is currently used to join metal and ceramic powder via sintering, which is expected to drive segment revenue growth.
- Among application segments, automotive segment accounted for largest revenue share in 2021. There is unprecedented and industrywide adoption of 3D printing as a manufacturing technique in the automotive industry, as it is giving car manufacturers the ability to streamline and speed up product development. Another major advantage of additive manufacturing is the high degree of design flexibility the technology offers. It enables companies to be less dependent on tooling and casting, since it allows for the creation of prototypes that do not require either of them, which is expected to increase adoption of additive manufacturing and drive revenue growth of the segment.
- Additive manufacturing market in North America accounted for largest revenue share in 2021. Presence of AM industry giants in the region is supporting growth of the technology and the number of patents. Advancements in technology, adoption of innovative methods, such as artificial intelligence and machine learning, in every sector for promoting automation, and proper utilization of resources for RD are expected to continue to drive market growth in North America during the forecast period.
- Additive manufacturing market in Asia-Pacific is expected to register a faster revenue CAGR during the forecast period. The key factors driving market growth in the region include a growing manufacturing sector in countries such as China and India, coupled with rising population in these countries. Increasing support from governments in countries in the region to adopt additive manufacturing technologies on a large scale, to develop modern infrastructure that can promote sustainable growth and reduce input costs, is expected to drive market revenue growth.
- Companies profiled in the global market report include 3D Systems Inc., Arcam AB, General Electric, EnvisionTEC, CleanGreen 3D, Optomec Inc., Stratasys Ltd., ExOne, Materialise NV, and MakerBot Industries LLC.
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Technology Outlook (Revenue, USD Billion; 2019–2030)
- Stereolithography
- Polyjet Printing
- Binder Jetting Printing
- Laser Sintering
- Electron Beam Melting
- Fused Deposition Modeling
- Laminated Object Manufacturing
- Thermal Dimensional Printing
- Others
Material Type Outlook (Revenue, USD Billion; 2019–2030)
- Plastics
- Metals
- Ceramics
- Other
Application Outlook (Revenue, USD Billion; 2019–2030)
- Aerospace
- Automotive
- Consumer Products
- Healthcare
- Government Defense
- Industrial/ Business Machines
- Education Research
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
The Additive Manufacturing market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Additive Manufacturing market.
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Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global Additive Manufacturing market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global Additive Manufacturing market over the forecast years?
- Which are the leading players in the global Additive Manufacturing market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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