Some of the key advantages of additive manufacturing are lower resource requirement, flexible design, faster production cycle, and sizeable savings on tooling over traditional manufacturing technologies like Computer Numerical Control (CNC) machining, vacuum casting, and injection molding. The 3D printing market is finally moving into the production phase after more than 25 years of development. Increased government support in the form of funding is offering a strong impetus to the additive manufacturing industry. For instance, one of the leading national programs in the United States, called America Makes, has been exclusively committed to research in 3D printing and additive manufacturing technology. The program has been supported by a USD 90 million financing from the regional government, non-benefit divisions, and other businesses.
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Surging deployment of additive manufacturing technologies in automotive and aerospace industries for the production of lightweight, complex, or small components may boost additive manufacturing industry growth. Moreover, increasing focus on reducing the overall weight of vehicles to cut down emissions may foster market size over the forecast period.
Further key findings from the report suggest
- On the basis of material, the thermoplastics and metal segment accounted for a revenue share of USD 3.4 billion and USD 3.7 billion, respectively, in 2018.
- On the basis of metal type, the titanium segment is forecast to register a CAGR of 10.1% through 2027. The product is experiencing high demand from the additive manufacturing market due to its beneficial properties, like organic latency, high solidarity to weight proportion, and other attractive properties.
- Based on application, the manufacturing industry is projected to account for 33% of the additive manufacturing industry share by 2027.
- In terms of end-use, the aerospace sector accounted for 16.3% of the market share in the U.S. alone in 2019 and is likely to gain major traction due to the rising adoption of AM technology in the aerospace industry to improve fuel efficiency and range.
- The medical industry is forecast to exhibit a CAGR of 16.1% through 2027 due to increased adoption of additive manufacturing or 3D printing technology by medical equipment manufacturers to create organoids & tissues, surgical tools, custom-made prosthetics, patient-specific surgical models, and others products.
- In the regional landscape, the developed regions such as the United States and the countries in Western Europe are anticipated to be the key-revenue generating avenues for the market. The presence of various industry giants in the region, including Mercedes, Volkswagen, Airbus, Boeing, and others, will also stimulate industry expansion.
- North America accounted for 43% of the market revenue share in 2018 and is projected to garner massive gains over the forecast period.
- The APAC region is poised to grow at a CAGR of 18% through 2027 due to an untapped market with a large consumer base and rising disposable incomes.
- Key players in the global additive manufacturing market are 3D Systems Inc., EnvisionTEC, General Electric, Mcor Technologies Ltd., Stratasys Ltd, Optomec Inc., EOS GmbH, MakerBot Industries, LLC, and The ExOne Company, among others.
For the purpose of the study, Reports and Data has segmented the global Additive Manufacturing market on the basis of type & sub-types of materials, process, end-use, and region:
- Material Type (Revenue, USD Million; 2017-2027)
- Metals
- Thermoplastics
- Ceramics
- Others
- Metal Type (Revenue, USD Million; 2017-2027)
- Titanium
- Stainless Steel
- High Performance Alloys
- Aluminum
- Precious Metals
- Others
- Polymer Type (Revenue, USD Million; 2017-2027)
- Acrylonitrile Butadiene Styrene (ABS)
- Polylactic Acid (PLA)
- Polycarbonate (PC)
- Polyvinyl Alcohol (PVA)
- Others
- Ceramics Type (Revenue, USD Million; 2017-2027)
- Silica/ Glass
- Porcelain
- Silicon Carbide
- Others
- Process (Revenue, USD Million; 2017-2027)
- Computer-Aided Design
- Stereo lithography
- Fused Filament Fabrication
- Binder Jetting
- Material Jetting
- Powder Bed Fusion
- Material Extrusion
- Others
- End-use Outlook (Revenue, USD Million; 2017-2027)
- Aerospace
- Medical
- Manufacturing
- Automotive
- Construction
- Others
- Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
