Press release
Industrial Additive Manufacturing Market Size To Grow At A CAGR Of 20.9% In The Forecast Period Of 2024-2032
Industrial additive manufacturing, also known as 3D printing, is a process where digital designs are used to build three-dimensional objects layer by layer from various materials, such as plastics, metals, and ceramics. It enables rapid prototyping, complex geometries, and customized production, revolutionising manufacturing in aerospace, automotive, and healthcare sectors.
The surge in the industrial additive manufacturing market growth can be attributed to the widespread recognition of additive manufacturing's potential to revolutionise traditional manufacturing processes. Industries such as aerospace, automotive, healthcare, and consumer goods are increasingly integrating 3D printing technologies to produce complex parts with precision, reduce lead times, and lower costs. The ability to manufacture components with complex geometries that are difficult or impossible to achieve with conventional methods has opened new avenues for innovation and customisation.
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In the aerospace sector, the demand for lightweight and strong components has driven the adoption of additive manufacturing to produce parts that significantly reduce aircraft weight, thereby enhancing fuel efficiency and performance. Similarly, in the automotive industry, manufacturers are leveraging 3D printing to produce customised parts, prototypes, and even end-use components rapidly, reducing the time to market for new vehicles.
As per the industrial additive manufacturing market analysis, the healthcare sector has emerged as a prominent adopter of industrial additive manufacturing, with applications ranging from the production of custom prosthetics and implants to the fabrication of surgical instruments and patient-specific models for preoperative planning. The ability to customise medical devices to fit the unique anatomy of individual patients has been a key factor driving the adoption of 3D printing in medicine.
The technological advancements in additive manufacturing, including the development of new materials, improvements in printer speeds and accuracy, and the integration of artificial intelligence and machine learning for optimised printing processes, are further fuelling the industrial additive manufacturing market demand. These innovations are making industrial additive manufacturing more accessible and cost-effective, enabling its adoption across a broader range of industries and applications.
The market is on a trajectory of rapid growth, driven by its ability to offer cost-effective, efficient, and customised manufacturing solutions across a wide range of industries. As technology continues to evolve and barriers to adoption are addressed, industrial additive manufacturing is set to play a pivotal role in shaping the future of global manufacturing, heralding a new era of innovation and productivity.
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Market Segmentation
The market can be divided based on material type, technology, end use, and region.
Market Breakup by material Type
• Metals
o Stainless Steel
o High Performance Alloys
o Aluminium
o Titanium
o Precious Metals
o Others
• Polymers
o Polylactic Acid (PLA)
o Polycarbonate
o Polyvinyl Alcohol (PVA)
o Acrylonitrile Butadiene Styrene (ABS)
o Others
• Ceramics
o Glass/Silica
o Silicon Carbide
o Porcelain
o Others
• Others
Market Breakup by Technology
• Binder Jetting
• Material Extrusion
• Powder Bed Fusion
• Material Jetting
• Others
Market Breakup by End Use
• Aerospace
• Industrial
• Medical and Healthcare
• Automotive
• Electrical and Electronics
• Building and Construction
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global industrial additive manufacturing market. Some of the major players explored in the report by Expert Market Research are as follows:
• Stratasys Ltd.
• 3D Systems, Inc.
• General Electric Company
• Envisiontec US LLC
• EOS GmbH
• ExOne Operating, LLC
• Materialise NV
• Optomec, Inc.
• SLM Solutions Group AG
• Fathom
• Others
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