Additive Manufacturing Market Size 2022 Growing Rapidly at a CAGR of 27.25% with Modern Trends And Industry Players: 3D Systems, Stratasys, ExOne, ENVISIONTEC US LLC
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Global Additive Manufacturing Market Analysis and Size
The market for additive manufacturing is estimated to increase rapidly over the forecast period. In comparison to traditional manufacturing methods including injection molding, CNC machining, and vacuum casting, additive manufacturing provides various advantages, such as a lower resource demand, a shorter production cycle, flexible design, and significant tooling cost savings. The market is finally moving into production after more than 25 years of development. Businesses across the value chain in various industries will attempt to capitalize on this fast-paced market over the projected period. Different metals with diverse beneficial qualities, such as titanium, steel, nickel, aluminium, and cobalt alloys, are utilized to produce high-performance parts, particularly in the aerospace industry.
Data Bridge Market Research analyses that the additive manufacturing market was valued at USD 15.27 billion in 2021 and is expected to reach USD 104.98 billion by 2029, registering a CAGR of 27.25% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
The Global Additive Manufacturing Market report encompasses the general idea of the global Additive Manufacturing market including definition, classifications, and applications. Further, it includes the all-inclusive comprehension of several factors such as drivers, constraints, and major micro markets. The report is a wide-ranging source of widespread facts and figures for business strategists as it offers the historical &futuristic data such as demand & supply data, cost, revenue, profit, supply chain value, and so on. Furthermore, it entails the key market features, comprising production, revenue, price, capacity, gross margin, market share, consumption, gross, production rate, demand/supply, cost, capacity utilization rate, export/import, and CAGR (compound annual growth rate). Apart from this, the researcher market analyst and experts present their outlook or insights of product sales, market share, and value along with the possible opportunities to grow or tap into in these regions.
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Regional Analysis of the Additive Manufacturing Market:
The global Additive Manufacturing Market research report details the ongoing market trends, development outlines, and several research methodologies. It illustrates the key factors that directly manipulate the Market, for instance, production strategies, development platforms, and product portfolio. According to our researchers, even minor changes within the product profiles could result in huge disruptions to the above-mentioned factors.
➛ North America (United States, Canada, and Mexico)
➛ Europe (Germany, France, UK, Russia, and Italy)
➛ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
➛ South America (Brazil, Argentina, Colombia, etc.)
➛ Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Additive Manufacturing Market Report displays data on key players, major collaborations, merger & acquisitions along with trending innovation and business policies. The report highlights current and future market trends and carries out analysis of the effect of buyers, substitutes, new entrants, competitors, and suppliers on the market. The key topics that have been explained in this Additive Manufacturing Market report include market definition, market segmentation, key developments, competitive analysis and research methodology. To accomplish maximum return on investment (ROI), it's very essential to be acquainted with market parameters such as brand awareness, market landscape, possible future issues, industry trends and customer behavior where this Additive Manufacturing Market report comes into play.
Some of the major players operating in the additive manufacturing market 3D Systems, Inc. (U.S.), Stratasys (U.S.), ExOne (U.S.), ENVISIONTEC US LLC (Germany), Materialise (Belgium), MCor Technologies Ltd. (Ireland), Biomedical Modeling Inc. (US), EOS Systems Inc. (US), Integer Holdings Corporation (US), Fathom Digital (US), Surgival (Spain), SLM Solutions (Germany), Xilloc Medical B.V. (Netherlands), Dentsply Sirona (US), Renishaw plc (UK), Morris Technology (US), and Limacorporate S.p.a (Italy), among others.
Additive Manufacturing Market Dynamics
Reduced production cost for rapid manufacturing
Because additive manufacturing technologies have lower production costs than traditional manufacturing processes, they can be cost-effective. Fixed costs are exclusively attributed to a single component design in traditional manufacturing technologies. There are some fixed expenses associated with additive manufacturing, but these costs can be more easily compensated by the number of diverse items that can be created in a single batch. As a result, additive manufacturing is more cost-effective than traditional manufacturing, which is one of the primary drivers driving market revenue growth.
Ease of manufacturing complex design
When compared to other traditional manufacturing processes, the fundamental physical difference in how items are manufactured with the additive manufacturing process generates several key functional distinctions. The capacity of additive manufacturing to build complicated geometries that would be difficult or impossible to achieve using traditional manufacturing processes is the most significant of these functional changes. These complex geometries are also more durable and lighter than standard geometries. The ability of additive manufacturing to construct complicated geometries more easily than conventional production technologies has fueled its growth.
Furthermore, the development of new and improved technologies and materials will be a major factor influencing the growth of the additive manufacturing market. Along with this, increasing urbanization and rising level of government funding are the driving factors accelerating the growth of the additive manufacturing market. Also, the increasing expenditure on healthcare infrastructure is the major market drivers that will further escalate the growth of additive manufacturing market. Other significant factors that will cushion the additive manufacturing market's growth rate are the customization of products and bulk production.
Development of new supply chain models
Moreover, the rising development of new supply chain models will provide beneficial opportunities for growth in additive manufacturing. Along with this, the expiry of key patents will influence the market's growth rate by creating various market opportunities in coming years.
Moreover, growing number of strong mergers and acquisitions and increase in the number of emerging markets will further provide beneficial opportunities for the additive manufacturing market growth during the forecast period.
Restraints/Challenges Global Additive Manufacturing Market
The dearth of software efficiency
However, dearth of software efficiency will impede the additive manufacturing market's growth rate. The entire process of customer-specific additive manufacturing is primarily manual, and this manual labour is justifiable to some extent in early Additive Manufacturing use cases (AM). It was not essential to tightly integrate the 3D printer into supporting software solutions in prototype because the number of components produced was small and there was little need for comprehensive data collection.
Complexities associated with the production of large single parts
Even if additive manufacturing could significantly improve production speed and volume, it would still be impossible to produce huge single items. This is another key obstacle that additive manufacturing researchers must overcome as they seek new uses for the technology. Because existing additive manufacturing processes have a restricted construction envelope, even larger components that can be printed must still be connected using mechanical joining or welding.
On the other hand, the lack of standardization equipment and process control will challenge the additive manufacturing market. Additionally, issues with the availability as well as cost of additive manufacturing will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
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Global Additive Manufacturing Market Scope
The additive manufacturing market is segmented on the basis of material, material type, technology and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
On the basis of material, the additive manufacturing market is segmented into plastic, metals and ceramics.
On the basis of material type, the additive manufacturing market is segmented into homogeneous materials and heterogeneous materials.
Fused Deposition Modeling
On the basis of technology, the additive manufacturing market is segmented into stereolithography, fused deposition modeling, laser sintering and other technologies.
Aerospace and Defense
Other End Users
On the basis of end user, the additive manufacturing market is segmented into aerospace and defense, automotive, healthcare, industrial and other end users.
Reason to Buy
• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Additive Manufacturing
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Additive Manufacturing, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the Additive Manufacturing market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
There are 15 Sections to show the global Additive Manufacturing market:
• Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.
• Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and global market size. It also covers market share and growth rate by regions.
• Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.
• Breakdown by Product and Application: This section provides details about market size by product and application.
• Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.
• Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.
• Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.
• Key Findings of the Research Study
• Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.
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