Additive Manufacturing & Material Market Future Prospects and Forecast To 2028

The additive manufacturing and material market size is valued at USD 14,634.2 million in 2021 and is expected to grow at a significant CAGR of 19.6% during the forecast period 2022 to 2028. The process of producing products from a collection of 3D models using additive materials is known as additive manufacturing. This stands for all additive processes, frameworks, tools, and applications. 3D printing is another name for additive manufacturing. The market for additive manufacturing includes, among other things, 3D printers, service providers, and printing supplies. Quick manufacturing and rapid prototyping are two common market applications.

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Additive Manufacturing & Material Market Growth Factors:
A few of the key factors anticipated to contribute to the market revenue growth include the simplicity of manufacturing complex designs, the development of new, improved technologies and materials, increased government funding to support additive manufacturing, and relatively low production costs for rapid manufacturing. However, problems with material accessibility, price, quality, development and validation, standardization and characterization, and a lack of standardized machinery and process management are some factors that are anticipated to limit market revenue growth to some extent. Additive manufacturing, sometimes referred to as 3D printing, is a revolutionary method of industrial production that makes it possible to create systems and parts that are lighter and stronger. Because additive manufacturing uses computer-aided design (CAD) software or 3D object scanners to instruct the hardware to deposit material, layer by layer, it can provide digital flexibility and efficiency to production operations.
Due to significantly lower production costs compared to traditional manufacturing techniques, the use of additive technologies in production can be cost-effective. Fixed costs in traditional manufacturing technologies are exclusively allotted to a certain component design. For instance, a die may only be used in die casting to create a particular product for which it was designed, so the cost of the mould must be justified by the volume of components that are produced. The quantity of pieces produced in the manufacturing batch up until the next set up must be divided by the price of setting up a machine tool or changing tools on an injection moulding machine. Therefore, if only a few pieces or short series are produced, the fixed cost may be more than the variable cost.

Additive Manufacturing & Material Market Segmentation:
Additive Manufacturing and Material Market: Technology (Stereo Lithography, Fused Deposition Modelling, Laser Sintering, Binder Jetting Printing, Other Technologies), By Material (Plastic, Metals, Ceramics), By End User (Aerospace and Defense, Automotive, Healthcare, Industrial and Other End Users).

Additive Manufacturing & Material Market Regional Analysis:
According to geographical analysis, North America's additive manufacturing market held the greatest revenue share in 2021. This is due to the presence of major market participants in the area, which is fostering the expansion of the technology and the number of patents. Additionally, throughout the projected period, the market expansion is anticipated to be aided by technological developments, the implementation of cutting-edge techniques like
artificial intelligence and machine learning in every industry to promote automation, and the efficient use of R&D resources. Due to the expanding industrial sector and rising population in nations like China and India, the Asia-Pacific additive manufacturing market is anticipated to see a quicker revenue CAGR over the projected period.

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Key player's in the additive manufacturing & material market report are D Systems Corporation, General Electric Company (GE Additive), EnvisionTEC GmbH, EOS GmbH, Exone Company, Mcor Technologies Ltd, Materialise NV, Optomec Inc, Stratasys Ltd, SLM Solutions Group AG, Siemens AG

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