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Additive Manufacturing Market Share, Top Trends, Opportunities, Strategies And Forecast Until 2033
Additive Manufacturing Market
The additive manufacturing market size is expected to see exponential growth in the next few years. It will grow to $41.69 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The growth in the forecast period can be attributed to mass customization demands, healthcare advancements and bioprinting, expanded applications in automotive and energy, integration with traditional manufacturing, regulatory support and standards development. Major trends in the forecast period include Industry 4.0 and digitalization, materials innovation, technological advancements in 3D printing, multi-material and hybrid printing, scaling up production with am.
Market Overview -
Additive manufacturing refers to the method of combining materials to create three-dimensional items using three-dimensional (3D) model data. Layer after layer is added in additive manufacturing till the product is finished. The majority of the time, additive manufacturing employs only the materials required for the component, drastically reducing production waste.
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Soaring Demand For 3D Printing Propels Growth In The Additive Manufacturing Market
The increasing demand for 3D printing is expected to propel the growth of the additive manufacturing market going forward. The method of creating three dimensional solid objects from a digital file is known as 3D printing. 3D printing helps additive manufacturing by making a cost-effective and flexible way to produce customized parts and used for preoperative planning. For instance, according to AZoNetwork UK Ltd., a UK-based marketing science company, a little over 2.2 million 3D printers were shipped in 2021, and by 2030, there will be a shipment of 21.5 million 3D printers. Therefore, increasing demand for 3D printing is driving the growth of the additive manufacturing market.
Competitive Landscape -
Major companies operating in the additive manufacturing market report are General Electric Company, ANSYS Inc., Höganäs AB, Greatbatch Inc., Renishaw plc, Arburg GmbH + Co KG, Stratasys Ltd., EOS GmbH, 3D Systems Corporation, Proto Labs Inc., Materialise NV, MakerBot Industries LLC, SLM Solutions Group AG, Markforged, Arcam AB, The ExOne Company, Envisiontec GmbH, EnvisionTEC LLC, Ultimaker BV, Optomec Inc., Voxeljet AG, ExOne Company, Mcor Technologies Ltd., Danae Inc., Made In Space Inc., CleanGreen 3D, American Additive Manufacturing LLC, Biomedical Modeling Inc., Yamazaki Mazak Corporation, GPI Prototype & Manufacturing Services Inc., Print Parts Inc., Applied Rapid Technologies Corporation, 3DEO Inc., Sciaky Inc., Thales Digital Factory
Pioneering Innovation In The Additive Manufacturing Market
Technological innovation is a key trend gaining popularity in the additive manufacturing market. Companies operating in the additive manufacturing market are introducing new technologies to develop their business in the market. For instance, in March 2021, Stratasys, Ltd., an Israel-based 3D printer manufacturing company, launched powder bed fusion technology. Powder bed fusion technology is an additive manufacturing technique, which forms parts by adding material rather than by deleting it during traditional forming procedures like milling.
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Key Segments -
The additive manufacturing market covered in this report is segmented -
1) By Technology: Stereolithography, Polyjet Printing, Binder Jetting Printing, Laser Sintering, Electron Beam Melting, Fused Deposition Modeling, Laminated Object Manufacturing, Thermal Dimensional Printing, Other Technologies
2) By Material Type: Plastics, Metals, Ceramics, Other Materials
3) By Application: Aerospace, Automotive, Consumer Products, Healthcare, Government And Defense, Industrial Or Business Machines, Education And Research, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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