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Additive Manufacturing Market to Reach USD 62 Billion by 2031, Driven by Metal 3D Printing Adoption
Additive Manufacturing Market
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North America currently leads the market with a 35.3% share due to strong government support, advanced research capabilities, and well-established supply chains, while Asia-Pacific is the fastest-growing region, propelled by China's manufacturing dominance and India's expanding industrial base. The metal material segment commands over 50% of revenue, reflecting increased adoption in aerospace, defense, and healthcare sectors.
Key Highlights from the Report
➤ Market to grow from USD 14 billion in 2022 to USD 62 billion by 2031 at 24.5% CAGR.
➤ Metal additive manufacturing holds the largest revenue share at 50.3% globally.
➤ North America leads with 35.3% market share; Asia-Pacific experiencing highest growth rates.
➤ High demand for advanced materials such as metals, polymers, and ceramics drives expansion.
➤ COVID-19 accelerated AM technology adoption for rapid prototyping and medical supply production.
➤ AI integration enhancing design optimization and reducing material usage across applications.
Market Segmentation
The material segment is dominated by metal additive manufacturing, driven by its suitability for precision parts in industries like aerospace, automotive, and medical implants. While metals lead in revenue, polymer, ceramic, and composite usage is rising due to greater accessibility and expanding application ranges.
By technology, additive manufacturing encompasses powder bed fusion, material extrusion, directed energy deposition, and more, each tailored to specific industry needs. Advanced powder bed fusion for metals is seeing rapid growth due to its ability to produce complex geometries with high strength.
Applications span aerospace, medical, automotive, industrial machinery, and consumer goods. Aerospace and medical sectors are primary adopters because of strict requirements for lightweight, high-performance, and customized components.
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Regional Insights
North America: Market Leader
Dominance in this region is underpinned by proactive government initiatives encouraging advanced manufacturing adoption, substantial R&D investment, and robust industrial supply chains. High levels of collaboration between AM companies and defense agencies-such as SPEE3D's cold spray technology win in the US defense challenge-underscore innovation strength.
Asia-Pacific: Fastest-Growing Region
Asia-Pacific benefits from large manufacturing capabilities, government-backed innovation policies, and rapid industrial expansion. China accounts for 50.4% of regional share while India holds 30.1%, reflecting growing interest in AM processes in heavy industries and consumer production.
Market Dynamics
Market Drivers
Rising demand for advanced additive manufacturing materials is propelling growth. Metals, high-grade polymers, and ceramics enable performance improvements and new applications, making AM cost-effective and versatile across industries.
Market Restraints
High initial investment costs for AM equipment, software, and infrastructure limit adoption, particularly among SMEs and startups lacking capital resources.
Market Opportunities
Integration of AI for design optimization, expansion into renewable energy component fabrication, and advancements in composite materials offer strong avenues for market expansion. Rapid adoption in developing economies provides further growth potential.
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Reasons to Buy the Report
✔ Comprehensive market forecasts through 2031 with deep segmentation analysis.
✔ Insight into regional opportunities and competitive positioning.
✔ Evaluation of materials, technologies, and applications driving growth.
✔ Coverage of AI and emerging innovations in additive manufacturing design.
✔ Detailed profiles of key market players and their strategic initiatives.
Frequently Asked Questions (FAQs)
◆ How big will the global additive manufacturing market be by 2031?
◆ Which material type holds the largest share in the additive manufacturing market?
◆ What is the projected CAGR of the market during 2024-2031?
◆ Which region is experiencing the fastest growth in additive manufacturing adoption?
◆ Who are the leading companies in the global additive manufacturing market?
Company Insights
Stratasys Ltd.
3D Systems Corporation
EOS GmbH
Materialise NV
SLM Solutions Group AG
Renishaw PLC
Ultimaker BV
HP Inc.
GE Additive
EnvisionTEC GmbH
Recent Developments
May 2023: SPEE3D secured over USD 2 million investment after winning the US defense challenge with its cold spray AM technology.
October 2022: Stratasys Ltd. acquired Riven, integrating its cloud-based quality control software into the GrabCAD AM platform.
Conclusion
The Global Additive Manufacturing Market is poised for exponential growth, led by metal 3D printing adoption, AI-driven design innovations, and expanding applications across high-value industries. While North America maintains leadership through infrastructure and R&D, Asia-Pacific's rapid growth signals a shift toward global diversification. As technology becomes more accessible and material science advances, additive manufacturing will redefine industrial production and innovation worldwide through 2031.
Contact Us
Mr. Sai Kiran
DataM Intelligence 4market Research LLP Ground floor
DSL Abacus IT Park, Industrial Development Area
Uppal, Hyderabad, Telangana 500039
USA: +1 877-441-4866
Email: Sai.k@datamintelligence.com
Visit Our Website: https://www.datamintelligence.com
About Us
DataM Intelligence 4Market Research is a comprehensive market intelligence platform offering syndicated and customized reports along with expert consulting across multiple industries, including chemicals, healthcare, agriculture, food & beverages, and more. With extensive experience and a strategy-focused approach, DataM provides businesses and individuals with reliable market insights, statistical forecasts, and personalized research solutions to help them make informed decisions and successfully bring innovations to market.
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