Data Bridge Market research has recently released expansive research titled " Additive Manufacturing Market " which guarantees you will remain better informed than your competition. When compiling this report on the global Additive Manufacturing Market, several factors are taken into consideration, including the type of market, the size of the organization, the availability on-premises, the organization type of the end users, and the availability in regions such as North America, South America, Europe, Asia-Pacific, and the Middle East and Africa. In addition to this, it describes all of the most recent developments, product launches, joint ventures, mergers, and acquisitions that have been made by the numerous key players and brands that are driving the market with systemic company profiles. Your company will be better equipped with knowledge thanks to the Additive Manufacturing Market report, which was compiled using reliable research techniques.

Data Bridge Market Research analyses that the Additive Manufacturing Market is growing with a CAGR of 20.9% in the forecast period of 2023 to 2030 and is expected to reach USD 91,853.88 million by 2030. The major factor driving the growth of the additive manufacturing market is the increasing demand for lightweight components from the automotive and aerospace industries.

Market Overview:

Additive manufacturing (AM) is different from the subtractive method of production, which envisages grinding out unnecessary material from a block of material. The use of additive manufacturing in industrial applications usually refers to 3D printing. Additive manufacturing involves a layer-by-layer addition of material to form an object while referring to a three-dimensional file with the help of a 3D printer and 3D printer software. A suitable additive manufacturing technology is selected from the available set of technologies depending upon the application.

The global additive manufacturing market report provides details of market share, new developments, and the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue-impact solution to achieve your desired goal.

Some of the major players operating in the Additive Manufacturing Market are:

·         ANSYS Inc

·         Höganäs AB

·         EOS

·         ARBURG GmbH + Co KG

·         Stratasys

·         Renishaw plc

·         YAMAZAKI MAZAK CORPORATION

·         Materialise

·         Markforged

·         Titomic Limited

·         SLM Solutions

·         Proto Labs

·         ENVISIONTEC US LLC

·         Ultimaker BV

·         American Additive Manufacturing LLC

·         Optomec, Inc

·         3D system Inc

·         ExOne (A Subsidiary of Desktop Metal, Inc.)

Recent Development

·         In February, SLM Solutions launched the SLM.Quality. It is a quality assurance software solution that enables customers to perform build job evaluations and process qualifications and part certifications more efficiently. Whether it's for single part or series production, the SLM. Quality solutions can support industrial customers during the qualification process, improving the traceability and documentation of key process data. This development will help the company to attract more customers.

·         In February, SLM Solutions and Assembrix jointly announced the successful integration of the Assembrix VMS software with SLM Solutions machines across the globe. This new partnership will meet the growing demand by OEMs for secure distributed additive manufacturing and enable the creation of a reliable, international additive manufacturing ecosystem.

Opportunities For Players

·         Increasing government funding to promote additive manufacturing

Additive manufacturing has immense potential to revolutionize the manufacturing and industrial production landscape through digital processes, communication and imaging. Additive manufacturing is a trending business that has high demand from various industries like aerospace, automotive, medical sector, electronics, fashion etc. seeing the potential possibility of this sector's contribution to the nation's economy, governments of different countries are coming up with a different strategy to support and promote this industry.

·         Advancement in the healthcare sector

 In the medical field, every patient is unique, and therefore additive manufacturing has a high potential to be utilized for personalized and customized medical applications. The most common medical clinical used are personalized implants and medical model saws guides. In dental fields, additive manufacturing products are used in splints, orthodontic appliances, dental models and drill guides. However, additive manufacturing products are also used to make artificial tissues and organs, which can be used for study purposes in a research institute or in between doctor and patients consultation. The development of digitalizing medical imaging that digitalization allows for the reconstruction of 3D models from patients' anatomy. The typical workflow of the personalized medical device starts with imaging or capturing the patient’s geometry of the anatomy using computed 3D scanning methods. Such data can be utilized to print 3D models of a patient’s anatomy or can be used to create personalized devices or implants.

Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors

·         Provision of market value (USD Million) data for each segment and sub-segment

·         Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

·         Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

·         Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled

·         Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players

·         The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

·         Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis

·         Provides insight into the market through Value Chain

·         Market dynamics scenario, along with growth opportunities of the market in the years to come.

To Gain More Insights into the Market Analysis, Visit @ https://www.databridgemarketresearch.com/reports/global-additive-manufacturing-market

·         Increasing demand for lightweight components from the automotive and aerospace industries

The automotive and aerospace sector requires numerous interacting technical and economic objectives of functional performance, lead time reduction, lightweight, cost management and delivery of safety-critical components. To meet the demand and to compensate for the fuel consumption and cost management to enhance the technical performance and allowable to make a lighter structure which directly related to enhancing economic and technical performance and which will help the airlines industry to carry more payload, which will directly improve their revenue. Additive manufacturing technologies, unlike conventional traditional manufacturing, use layer-by-layer manufacturing based on typical powder or wire and materials like plastic polymer, which is light in weight.

·         Advantages offered by additive manufacturing in various end-user industries

 Industries like aerospace were some of the industries that used additive manufacturing products for their performance, and aeroplane parts are used by additive manufacturing products that are lightweight and can withstand harsh environmental conditions, due to less material required and by the process of forming materials layers by layers, aerospace industries utilize it as the advantage for weight reduction and waste reduction, which are very important for the manufacturing of aerospace parts for major companies.

In rapidly innovating medical industries, the utilization of additive manufacturing products is of great advantage for doctors, patients and research institutions. Through functional prototype design provided by additive manufacturing technologies, it has been of great advantage to create a flexible design of various design lifesaving tools needed for surgical and study purposes, tools used in the dental procedure, pre-surgery models for CT scans, custom saw and drill guides, enclosure and specialized instrumentation.

·         Easy customization and bulk production using additive manufacturing

 Additive manufacturing customization, unlike traditional manufacturing, doesn’t add additional cost for customization and doesn’t require any certain mold or tools for the design it just needs a prototype 3D design and can be created by the customer itself because of the easy customization and fast production there is high demand, and we can mass produce any unique design without hampering the cost and time when making use of the 3D printers. Not only does it provide mass customized production, but it also gives the consumer a unique buyer and consumer experience where it gives them the feeling of belongingness and consumer satisfaction compared to the counterpart who doesn’t provide personalized design. It also allows the consumer to buy the design of their choice. For example, NIKE, a shoe manufacturer, sells shoes on their website with a 3D design where the consumer can add their colour choice on their own without much hesitation. This will add an advantage to market competition since, through this system, it lets the manufacturer know their client.

·         Rise in industrialization and advancement in 3D metal printing technology

With the rise in industrialization, there is a huge demand for 3D metal printing products in industries like aerospace, automotive, health care and others industries. With the demand from various fields for parts in aerospace for their jets engine and other structural parts to customize parts in automotive industries to customize the design of shoes and other electronic gadgets, there is a demand for the rigorous development of 3D printing technologies, which will perform more efficiently and can produce the product at a much faster rate with more precision. So the demand for the advancement and convenience of additive manufacturing technologies lead to an increase in the demand for 3D metal printing technologies.

Restraints/Challenges

·         High costs of the equipment, machinery and lack of skilled professional

The benefits that additive manufacturing provides have opened wide horizons for creating absolutely any 3D shapes and components. But not every business does not have the capacity to affordably integrate this type of activity into their business processes. Some of the most common causes that hinder the future of additive manufacturing are the high cost of equipment and the lack of professionals in this industry.

The average price for additive manufacturing equipment is between USD 300,000 to USD 1.5 million. The industrial consumables cost varies from USD 100 to USD 150 per piece. Although, the final price depends on the chosen material, such as plastic, which is considered the most budget-friendly option among all other materials available. The time required is also quite high as it takes more than an hour to print a 40cm object.

·         Lack of software efficiency

Additive manufacturing using the laser powder-bed fusion (PBF) process has the ability to build complex and intricate shapes along with organic structures which were previously too expensive or complex to make using traditional manufacturing operations. For example, the design freedoms achieved by laser PBF could be exploited for lightweight components to build the most intricate lattice structures for more efficient material usage. But, laser PBF has its disadvantages. It includes thin-walled/high-aspect-ratio parts that might fail during a build, difficult-to-remove support structures, layering effects on surface roughness and different process parameter settings such as laser settings for up-skin versus down-skin surfaces.

Global Additive Manufacturing Market Scope

Material Type

·         Metals

·         Plastics

·         Alloys

·         Ceramics

Technology

·         Stereolithography (SLA)

·         Fused disposition modelling (FDM)

·         Laser sintering (LS)

·         Binder Jetting printing

·         Polyjet printing

·         Electron Beam melting (EBM)

·         Laminated object manufacturing (LOM)

·         Others

Application

·         Automotive

·         Healthcare

·         Aerospace

·         Consumer Goods

·         Industrial

·         Defence

·         Architecture

·         Others

 Additive Manufacturing Market Country Level Analysis

The countries in the global additive manufacturing market are the U.S., Canada, Mexico, U.K., Russia, France, Spain, Italy, Germany, Turkey, Netherlands, Switzerland, Belgium, Rest of Europe, Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand, and the Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Egypt, Saudi Arabia, United Arab Emirates, South Africa, Israel and Rest of the Middle East and Africa.

North America dominates the global additive manufacturing market. The U.S. dominates in the North American region due to advanced development in technologies. Regional markets like the European market also have a prominent share in the global additive manufacturing market, followed by Asia pacific, Middle East and Africa and lowest market of South America.

Key Reasons to Buy this Report:

⁃ Utilize current information gathered by our own researchers. This gives you access to historical and projected data that is analysed to reveal the reasons the Additive Manufacturing industry is changing; this enables you to foresee market changes and preserve a competitive advantage.

⁃ The clear graph, succinct analysis, and table style make it easy to get the data you need.

⁃ Defines the region and market sector most likely to see rapid growth and market dominance.

⁃ A geographical analysis showing the factors influencing the market in each region as well as how the product or service is used there.

⁃ Detailed company profiles for the major market players, including executive summaries, corporate insights, product benchmarking, SWOT analysis, and information on recent service/product launches, business expansions, and acquisitions by the companies profiled.

⁃ A forecast of the market for the sector’s current and upcoming years that takes into consideration recent changes, such as growth prospects, drivers of that growth, and challenges and constraints in both emerging and developed economies.

⁃ Provides information on potential future market growth as well as industry knowledge through a Value Chain – Market Dynamics scenario.

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