Press release
Additive Manufacturing Market Anticipated To Witness Robust Growth, Surpassing $50.49 Billion By 2029
Additive Manufacturing
What Is the Current Additive Manufacturing Market Size and Its Estimated Growth Rate?
The market size of additive manufacturing has seen an exceptionally significant increase recently. The market value is projected to rise from $19.34 billion in 2024 to a whopping $23.42 billion by 2025, with a compound annual growth rate (CAGR) of an impressive 21.1%. This past growth has been mainly due to the need for prototyping and rapid prototyping, requests for customization and intricate geometries, a lower amount of material waste, and its adoption within the aerospace and healthcare sectors, as well as its cost-effective solution for low-volume production.
The market size of additive manufacturing is projected to experience significant expansion in the coming years, with a prediction to escalate to $50.49 billion in 2029, reflecting a compound annual growth rate (CAGR) of 21.2%. The surge during the estimated period is credited to factors such as increasing requests for mass customization, progress in healthcare and bioprinting, broader utilization in the automotive and energy sectors, amalgamation with traditional manufacturing, regulatory backing, and the establishment of standards. Key trends forecasted for this period encompass the fourth industrial revolution and digitalization, innovation in materials, advancements in 3D printing technology, as well as multi-material and hybrid printing.
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How Are Emerging Segments Shaping the Additive Manufacturing Market Landscape?
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
Subsegments:
1) By Stereolithography: Standard Stereolithography, Digital Light Processing (DLP), PolyJet Printing
2) By Binder Jetting Printing: Metal Binder Jetting, Sand Binder Jetting
3) By Laser Sintering: Selective Laser Sintering (SLS), Direct Metal Laser Sintering (DMLS), Electron Beam Melting
4) By Fused Deposition Modeling (FDM): Standard FDM, Dual-Extrusion FDM
5) By Laminated Object Manufacturing (LOM): Paper Lamination, Plastic Lamination
6) By Thermal Dimensional Printing: Hot Melt Adhesive, Thermoplastic Materials
7) By Other Technologies: Continuous Filament Fabrication (CFF), Selective Laser Melting (SLM)
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Which Growth Factors Are Influencing Additive Manufacturing Market Expansion?
The surge in demand for 3D printing is anticipated to stimulate the expansion of the additive manufacturing market. 3D printing, which is the process of building three-dimensional solid objects from a digital file, supports additive manufacturing by offering a cost-effective and adaptable method for the construction of custom parts and for preoperative planning. For example, AZoNetwork UK Ltd., a marketing science company based in the UK, stated that in 2021, slightly more than 2.2 million 3D printers were dispatched, and this number is projected to hit 21.5 million by 2030. Consequently, the increasing appetite for 3D printing is escalating the growth of the additive manufacturing market.
Who Are the Dominant Players Across Different Additive Manufacturing Market Segments?
Major companies operating in the additive manufacturing market include 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.
What Are the Latest Developing Trends in the Additive Manufacturing Market?
Leading firms in the additive manufacturing market are prioritizing the creation of innovative techniques such as digital additive-manufacturing technology to boost production efficiency. This technology involves the creation of three-dimensional objects by stacking materials based on digital designs, which allows for intricate shapes and personalization while increasing production efficiency and minimizing material waste. For instance, in February 2022, Mitsubishi Electric Corporation, an electronics company based in Japan, introduced the AZ600 wire-laser metal 3D printer. This printer uses laser technology to fuse welding wire, thereby facilitating the production of high-precision, high-quality 3D structures. Featuring simultaneous 5-axis spatial control, this printer betters manufacturing efficiency while decreasing energy use and waste.
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Which Geographic Regions Are Expected to Dominate the Additive Manufacturing Market in the Coming Years?
North America was the largest region in the additive manufacturing market in 2024. The regions covered in the additive manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Additive Manufacturing Market?
2. What is the CAGR expected in the Additive Manufacturing Market?
3. What Are the Key Innovations Transforming the Additive Manufacturing Industry?
4. Which Region Is Leading the Additive Manufacturing Market?
Why This Report Matters:
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