Additive Manufacturing Market to be Worth $93.36 Billion by 2031

Meticulous Research®-a prominent global market research firm-has published a comprehensive report titled "Additive Manufacturing Market Size, Share, Forecast, & Trends Analysis by Offering (Hardware, Materials, Services), Technology (FDM, DMLS, SLA, SLS, PolyJet, DED), and End User (Consumer, Electronics, Healthcare, Automotive, Aerospace) - Global Forecast to 2031."

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According to this latest analysis, the additive manufacturing market is anticipated to reach $93.36 billion by 2031, growing at a CAGR of 20.3% from 2024 to 2031. Key drivers of this growth include the increasing demand for complex parts, cost reductions in manufacturing, waste minimization, enhancements in product development and supply chains, and the benefits of customization and bulk production inherent in additive manufacturing. However, challenges such as limited build sizes and associated pre- and post-processing costs could hinder market expansion.

The report highlights the rising adoption of 3D printing for functional end-use parts and composite 3D printing as significant growth opportunities for market players. Nonetheless, concerns around piracy and unauthorized distribution, along with a shortage of skilled professionals, may pose challenges.

Prominent trends in the market include on-demand production of spare parts, increased customization of products, and the integration of AI into 3D printing processes.

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Market Segmentation

The additive manufacturing market is categorized into:

Offering: Hardware, Software, Materials (Polymers, Metals, Ceramics, Composites, and Other Materials), and Services.

Technology: Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Direct Metal Laser Sintering (DMLS), PolyJet, Stereolithography (SLA), Digital Light Processing (DLP), Directed Energy Deposition (DED), Multi Jet Fusion, Binder Jetting, LCD 3D Printing, Laser Metal Fusion (LMF), Electron Beam Melting (EBM), Selective Absorption Fusion (SAF), and Other Technologies.

End User: Segments include Consumer Products (Electronics, Jewelry, Decorative Art), Healthcare (Dental, Prosthetics, Bioprinting), Automotive (Prototyping, Spare Parts), General Manufacturing (Molds, Tools), Electronics & Semiconductors, Aerospace & Defense, Chemicals & Materials, Energy, Oil & Gas, and more.

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The study also assesses competitive dynamics within the industry at both regional and national levels.

Key Findings

Offering Insights: The services segment is projected to dominate with over 52.8% market share in 2024, driven by the increasing number of service providers and reliance on outsourcing.

Technology Insights: Fused Deposition Modeling (FDM) is expected to hold the largest share of 11.5% in 2024 due to its wide application across various industries and cost-effectiveness.

End User Insights: The automotive sector is forecasted to achieve the highest CAGR of 22.4% during the forecast period, facilitated by the need for rapid tooling and on-demand spare parts.

Geographic Insights: The Asia-Pacific region is set to register the highest CAGR of 22.1%, propelled by advancements in manufacturing and growing interest in new technologies.

Key Players

Notable companies in the additive manufacturing market include:

3D System Corporation (U.S.)

3Dceram (France)

Dassault Systèmes SE (France)

Colibrium Additive (U.S.)

Materialise NV (Belgium)

Shapeways Holdings, Inc. (U.S.)

Canon Inc. (Japan)

voxeljet AG (Germany)

Optomec, Inc. (U.S.)

Proto Labs, Inc. (U.S.)

Stratasys, Ltd. (U.S.)

EOS GmbH (Germany)

Desktop Metal, Inc. (U.S.)

Formlabs Inc. (U.S.)

Autodesk, Inc. (U.S.)

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This comprehensive report offers valuable insights for stakeholders looking to navigate the evolving landscape of the additive manufacturing market.

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This release was published on openPR.