The global additive manufacturing market is estimated to grow at a CAGR of 17.7% during the forecast period 2019 – 2027 and forecasted to reach US$ 36.61 Bn by the year 2027 from US$ 8.4 Bn.
The global additive manufacturing market is experiencing steady growth with regards to the research and development activities, product innovations, investments, and technological integrations, and deployment in the current scenario and is anticipated to rise exponentially in the coming years. The market for additive manufacturing consists of some well-established players across the globe that cater highly advanced solutions to the manufacturers. The solutions deployed in the manufacturing sector have graduated from being highly expensive to inexpensive solutions over the years. However, with efficiencies, and economies of scale achieved with the help, return on investment for additive manufacturing solution deployment is high leading to its increased adoptions and market attractiveness index.
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The major companies offering additive manufacturing to different industries include 3D Systems, Stratasys, Inc., Arcam AB, EOS GmbH, 3T RPD, LTD., Envisiontec Gmbh, GPI Prototype and Manufacturing Services, 3D Hubs, Sciaky, Inc., and ProtoCAM among others. Several other companies are also offering these services to different industries which is facilitating the Additive manufacturing market to propel over the years.
Increase in focus on the materials used for additive manufacturing to propel all round growth of the additive manufacturing market
The advanced countries from North America and as well as the developing economies from APAC who largely depend upon the manufacturing sector are observed to be the frontrunners in the installations of additive manufacturing solutions whereas the market is gathering steady pace in other regions of the world, especially in South American countries. Consistent expansion of applications of the additive manufacturing is expected to foresee rapid growth in the coming years. Further, the rapid industrialization in the developing economies has led to a booming manufacturing sector and attracting further investments into the advancements of the manufacturing sector. Leveraging upon the investments provided for advanced manufacturing, the market for additive manufacturing is anticipated to receive a huge boost in the coming few years. Also, it provides huge opportunities for the market players to tap upon.
The global market for additive manufacturing is segmented on the basis of material, technology, and end user. On the basis of material, the market is segmented into plastic, metal, ceramics, and others. Further on the basis of technology, the additive manufacturing market has been split into Selective Laser Sintering (SLS), Stereolithography (SLA), Fused Deposition Modeling (FDM), and Others. Also, additive manufacturing finds increasing applications in a variety of industry sectors. Therefore, the additive manufacturing market has also been segmented on the basis of end-user into automotive, aerospace, healthcare, industrial manufacturing, and others.
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The report segments the global additive manufacturing market as follows:
Global Additive Manufacturing Market – By Material
Global Additive Manufacturing Market – By Technology
Selective Laser Sintering (SLS)
Fused Deposition Modeling (FDM)
Global Additive Manufacturing Market – By End-User