Additive Manufacturing & Materials Market Size, Share, Growth, and Industry Analysis by Type (Plastics, Metals, Ceramics and Others), By Application (Aerospace Industry, Automotive Industry, Healthcare Industry, Government and Defense and Other), Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

Additive Manufacturing & Materials Market Report Overview

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The global additive manufacturing & materials market size is expected to be USD 23260 million in 2022 and is projected to touch USD 112024.83 million by 2031, exhibiting a CAGR of 19.1% during the forecast period.

The process of building a three-dimensional object from a CAD model or digital 3D model is known as additive manufacturing, or 3D printing. It can be carried out via a variety of techniques in which material is brought together, often layer by layer, and then deposition, joining, or solidification are controlled by computers.

3D printable models can be produced using a CAD programme, a 3D scanner, a regular digital camera, and photogrammetry software. Compared to other techniques, CAD-made 3D printed models have comparatively less mistakes. Before printing, mistakes in 3D printable models can be found and fixed. Similar to plastic arts like sculpting, the manual modelling technique of creating geometric data for 3D computer graphics. 3D scanning is the process of gathering digital information about an object's form and appearance in order to build a digital model based on it.

COVID-19 Impact: Increased Production and Supply Increased the Market Demand

The global COVID-19 pandemic has been unprecedented and staggering, with the additive manufacturing & materials market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

By producing urgent parts for usage in numerous industries during COVID-19, the additive manufacturing sector has grown in prominence. The demand for additive manufacturing has been significantly impacted by COVID-19 throughout a wide range of end-use industries, including aerospace & military, healthcare, automotive, and others. Raw materials were delayed as a result of the global lockdown's impact on the supply chain. As a result, manufacturers of aircraft and cars are forced to function at the bare minimum due to disturbed finance flows and a growing labour shortage. Furthermore, a decline in worldwide consumption and demand is a major factor in the economic havoc brought on by the COVID-19 pandemic.

LATEST TRENDS

"Increasing Innovation and New Product Development to Propel the Market"

The additive manufacturing & materials business is concentrated on innovation and producing new goods that support the net-zero carbon emission goals, which will greatly accelerate industry growth over the coming years. As a result of their excellent strength-to-weight and stiffness-to-weight ratios as well as exceptional machinability, high-strength Al alloys are frequently utilized for producing structural components in the aircraft sector. The industry's growth in the production of end-use products and prototyping is supported by additive manufacturing. As a result, the industry considers additive manufacturing, often known as 3D printing, to be the most effective production technology.

Additive Manufacturing & Materials Market Segmentation

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• By Type

Based on type; the additive manufacturing & materials market is divided into plastics, metals, ceramics and others.

Plastics is the leading part of the type segment.

• By Application

Based on the application; the additive manufacturing & materials market is divided into aerospace industry, automotive industry, healthcare industry, government and defense and others.

Aerospace industry is the leading part of the application segment.

DRIVING FACTORS

"The 3D Printing Industry to Bolster the Market Demand"

The fabrication of more durable, lightweight, and intricate machinery parts is made possible through additive manufacturing, also referred to as 3D printing. The technique can be seen as the conversion of analogue processes to digital ones. The 3D printing business is concentrated on innovation and producing new goods that support the net-zero carbon emission goals, which will greatly accelerate industry growth over the coming years. As a result of their superior strength-to-weight and stiffness-to-weight ratios as well as exceptional machinability, high-strength Al alloys are frequently utilized for producing structural components in the aircraft sector. As a result, the industry considers additive manufacturing & materials, often known as 3D printing, to be the most effective production technology.

"The Automotive and Aerospace Industry to Attract the Market Share"

Due to its larger employment and rising income, the aerospace industry is one of the ones that is expanding. The development of autonomy has raised demand for autonomous flight systems, which has benefited the sector. Automotive is also one of the areas adopting AM that is expanding the quickest. The benefits of this technology are being applied to automotive applications through a number of different programmes and activities. The "industrialization and digitization of additive manufacturing & materials for automotive series processes" project is one such promising initiative (IDAM).

RESTRAINING FACTORS

"The High and Fluctuating Pricing  to Hold Back the Market Growth"

The industrial use of 3D printing is still in the research stage of science at the moment. It necessitates a large investment in both human and material resources. In actuality, the key to the financial well is the presence of pertinent professionals. However, the  pricing factor can hamper the additive manufacturing & materials market share.

Additive Manufacturing & Materials Market Regional Insights

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"North America to Lead the Market with Rising Product Manufacture and Development"

The market for additive manufacturing is dominated by North America. One of the top regions with the most additive manufacturing items is North America. The United States is the region's top revenue-producing nation. With 422,000 units deployed, the US has the largest 3D printing market in the world. Being a developed country, North America is constantly competing to incorporate and adopt the newest technology, including 3D printing. The market for additive manufacturing will be driven by the US's increasing investment in new aerospace technology for the production of lightweight, highly durable spacecraft for space missions. This is significantly contributing to the additive manufacturing & materials market growth.

KEY INDUSTRY PLAYERS

"Prominent Industry Players in the Industry to Promote Market Expansion"

The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other considerations taken into account for this market are the businesses that develop and provide new products, the geographic areas in which they function, mechanization, innovation strategies, generating the maximum revenue, and using their products to make a significant difference.

List of Market Players Profiled

• 3D Systems (U.S.A)
• ARCAM (Sweden)
• Envisiontec (Germany)
• Eos (Germany)
• Exone (U.S.A)
• MCOR Technologies (Ireland)
• Materialise (Belgium)
• Stratasys (U.S.A).

INDUSTRY DEVELOPMENT

• February 2020 - The J826 3D Printer was introduced by Stratasys at 3DEXPERIENCE World. The J826 offers full PANTONE-validated colour and multi-material 3D printing while combining part realism and productivity. It costs about half as much as previous J8-series PolyJet printers. Businesses with mid-volume modelling needs in sectors like consumer goods and electronics, automotive, and educational institutions should consider the J826..
• April 2020 - EnvisionTEC revealed that a clinical trial using their 3D-printed Nasopharyngeal (NP) Swabs for COVID-19 testing has been successfully completed. EnvisionTEC has the mass production capacity to create up to a million of the urgently required swabs each day, and a sizeable portion of their Envision One cDLM customers have also registered with the FDA to participate in this endeavour.

REPORT COVERAGE

This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching  of recent industry developments,  deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.