Press release
Composites Additive Manufacturing Market to Reach USD 10.59 Billion by 2030
Composites Additive Manufacturing Market
The global composites additive manufacturing market is poised for significant growth, projected to escalate from USD 6.64 billion in 2023 to USD 10.59 billion by 2030, marking a CAGR of 6.88%. This surge is attributed to the escalating demand for lightweight, high-strength components across industries such as aerospace, automotive, and healthcare.
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◈ Composites Additive Manufacturing Market Competitive Landscape and Regional Demand
The market is characterized by the presence of key players including Stratasys Ltd., 3D Systems Corporation, Arevo Labs, MarkForged, Inc., Cincinnati Incorporated, Graphite Additive Manufacturing Limited, CRP Group, EOS, 3Dynamic Systems, and Advanc3D Materials. These companies are actively engaged in research and development, strategic collaborations, and mergers and acquisitions to enhance their market position.
Asia Pacific has emerged as the region with the highest demand, driven by rapid industrialization and the adoption of advanced manufacturing techniques. Countries like China, Japan, and South Korea are investing heavily in additive manufacturing technologies to boost their manufacturing capabilities and competitiveness.
◈ Growth Opportunities in Vietnam
Vietnam's additive manufacturing sector is gaining traction with international players entering the market. A major U.S.-based 3D printing company recently acquired a Vietnamese 3D printing service provider, expanding its presence in Southeast Asia and enhancing its production capacity for customized parts.
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◈ Consolidation Trends in Thailand
Thailand is becoming a key player in the Southeast Asian additive manufacturing market. A Thai additive manufacturing company recently merged with a European industrial printer manufacturer to boost its capabilities in metal 3D printing, particularly relevant for industries like aerospace and automotive.
◈ Technological Advancements in Japan
In Japan, a leading additive manufacturing company acquired a robotics firm to integrate automation into its 3D printing processes. This acquisition enhances the company's ability to offer high-speed, high-volume production capabilities.
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◈ Strategic Investments in South Korea
South Korea's government is heavily investing in additive manufacturing technology development and establishing a national additive manufacturing strategy. The country is integrating additive manufacturing into its economy to benefit manufacturers and overall national production, with funding reaching USD 52.7 million.
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◈ Innovation Hub in Singapore
Singapore has positioned itself as a hub for 3D printing innovation in Asia. A prominent Singapore-based 3D printing company was recently acquired by a global player in the materials science industry, providing it with access to new technologies and the ability to offer a wider range of materials for 3D printing applications.
◈ Market Expansion in the United States
The U.S. additive manufacturing market size surpassed USD 3.24 billion in 2022 and is projected to hit around USD 20.83 billion by 2032, growing at a CAGR of 20.5% from 2023 to 2032. The growth is attributed to the region's leadership in the AM market, the presence of key industry players, and strong research and development capabilities.
◈ Policy Support in China
China is poised to become the primary driver of additive manufacturing growth in the Asia Pacific region. The Chinese government is actively pursuing the 'Additive Manufacturing Industry Development Action Plan,' aiming to establish a USD 3 billion additive manufacturing industry by 2023. The plan includes investing in the expansion of 3D printing workforces, supporting promising additive manufacturing enterprises, and promoting standardization for the sector.
◈ Sustainable Initiatives in Europe
Europe is experiencing high demand for lightweight materials and a strong focus on sustainability, driving growth in the region. The composites additive manufacturing market in Europe is characterized by the presence of key players and a focus on sustainable manufacturing practices.
Curious about market analysis? The research report summary offers valuable insights: https://www.maximizemarketresearch.com/market-report/global-composites-additive-manufacturing-market/28213/
◈ Composites Additive Manufacturing Market Segmentation:
by Type
Parts
Hardware
Material
by End-Use
Aerospace & Defense
Automotive
Electrical & Electronics
Healthcare & Medical
by Reinforcement Type
Carbon Fiber
Glass Fiber
Others
by Technology Type
Extrusion
Powder Bed Fusion
Others
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