Additive Manufacturing Global Market Report 2024

Additive manufacturing, also known as 3D printing, involves the process of synthesizing materials to produce three-dimensional objects based on three-dimensional (3D) model data. Layer by layer, additive manufacturing builds the desired product until completion. A key advantage of this method is its utilization of only the necessary materials for each component, significantly minimizing production waste in the manufacturing process.

Additive manufacturing encompasses several key technologies, including stereolithography (SLA), polyjet printing, binder jetting printing, laser sintering, electron beam melting, fused deposition modeling (FDM), laminated object manufacturing (LOM), thermal dimensional printing, and other related methods. Stereolithography (SLA), specifically, is an additive manufacturing technique utilized to produce robust prototypes, patterns, and items based on CAD blueprints. Various materials such as plastics, metals, ceramics, and others find application in additive manufacturing across diverse industries. These industries include aerospace, automotive, consumer products, healthcare, government and defense, industrial and business machines, education and research, among others.

The additive manufacturing market research report is one of a series of new reports from The Business Research Company that provides additive manufacturing market statistics, including additive manufacturing industry global market size, regional shares, competitors with an additive manufacturing market share, detailed additive manufacturing market segments, market trends, and opportunities, and any further data you may need to thrive in the additive manufacturing industry. This additive manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The additive manufacturing market size has grown exponentially in recent years. It will grow from $16.14 billion in 2023 to $19.74 billion in 2024 at a compound annual growth rate (CAGR) of 22.3%. The growth observed in the historical period can be attributed to the increasing demand for prototyping and rapid prototyping, the necessity for customization and handling complex geometries, the reduction in material waste, adoption by the aerospace and healthcare industries, and the cost-effective nature of low-volume production.

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 anticipated growth in the forecast period can be attributed to the increasing demand for mass customization, advancements in healthcare and bioprinting, expanded applications in automotive and energy sectors, integration with traditional manufacturing processes, and regulatory support with the development of standards. Key trends expected in the forecast period encompass Industry 4.0 and digitalization, ongoing materials innovation, technological advancements in 3D printing, the adoption of multi-material and hybrid printing techniques, and scaling up production through additive manufacturing.

The rising demand for 3D printing is poised to significantly drive the growth of the additive manufacturing market in the foreseeable future. 3D printing, the process of fabricating three-dimensional solid objects from digital files, serves as a cost-effective and versatile method for producing customized parts and plays a crucial role in preoperative planning. According to data from AZoNetwork UK Ltd., a UK-based marketing science company, over 2.2 million 3D printers were shipped in 2021, and this figure is projected to surge to 21.5 million by the year 2030. This substantial increase in 3D printer shipments underscores the growing demand for 3D printing technologies, serving as a key driver for the expansion of the additive manufacturing market.

The anticipated growth of the aerospace and defense industry is expected to be a significant driver for the expansion of the additive manufacturing market. The aerospace and defense sector encompasses the production, development, and maintenance of aircraft, spacecraft, and military defense systems. Additive Manufacturing, known for its applications in rapid prototyping, lightweight component production, and fabrication of complex geometries, offers enhanced design flexibility and operational efficiency in this industry. As per data from the International Trade Administration, a US-based government agency, the UK defense industry achieved a turnover of approximately $33 billion in 2021, with $15 billion attributed to exports. The UK's aerospace sector, demonstrating resilience even amid a global pandemic, recorded a turnover of £22.4 billion ($24.4 billion) in 2021, with £15.2 billion ($16.6 billion) generated from exports. This robust performance underscores the importance of additive manufacturing in meeting the demands of the aerospace and defense industry, and it is expected to play a pivotal role in driving the growth of the additive manufacturing market.

The adoption of technological innovation emerges as a prominent trend in the additive manufacturing market, with companies actively introducing new technologies to advance their presence in the market. A noteworthy example is Stratasys, Ltd., an Israel-based 3D printer manufacturing company, which unveiled powder bed fusion technology in March 2021. This technology represents an additive manufacturing technique that builds parts by adding material, contrasting with traditional forming procedures such as milling that involve the removal of material. The introduction of such innovative technologies showcases the commitment of companies in the additive manufacturing sector to staying at the forefront of advancements, contributing to the dynamic growth and evolution of the market.

Prominent companies in the additive manufacturing market are strategically concentrating on the development of advanced platforms, such as deployable robotic systems, to enhance operational efficiency and secure a competitive advantage. A deployable robotic system refers to a mobile and adaptable set of robots designed for swift deployment and versatile utilization across diverse environments or applications. A noteworthy example is ADDiTEC, a US-based innovator in advanced metal additive manufacturing, which in November 2023, launched two advanced additive manufacturing platforms-AMDroid and Hybrid3. AMDroid stands out as a deployable robotic system tailored for various materials, including titanium, boasting high deposition rates that cater to mass production needs. It offers on-demand manufacturing capabilities while ensuring hassle-free installation processes. On the other hand, Hybrid3 combines Liquid Metal Jetting (LMJ) and Laser Directed Energy Deposition (LDED) with CNC machining. This amalgamation delivers precision, speed, and material versatility. Notably, the multi-material capability of Hybrid3 integrates LMJ and LDED heads within a single system, allowing for the production of intricate components with varying materials and properties. The introduction of such advanced platforms showcases the commitment of major companies in the additive manufacturing sector to pushing the boundaries of technology, ultimately contributing to enhanced precision, efficiency, and competitiveness in the market.

In January 2021, Protolabs, a 3D printing manufacturing company headquartered in the US, acquired 3D Hubs for an undisclosed sum. This strategic acquisition was aimed at creating the most expansive digital manufacturing platform globally, offering a comprehensive array of manufacturing services facilitated by a global network of top-tier manufacturing suppliers. 3D Hubs, based in the Netherlands, operates as a network of manufacturing partners accessible to companies through an online on-demand manufacturing platform.

Major companies operating in the additive manufacturing market report are General Electric Company, ANSYS Inc., Hoganas 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

North America was the largest region in the additive manufacturing market in 2023. The regions covered in the additive manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the additive manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The additive manufacturing market includes revenues earned by entities by providing additive manufacturing services such as technical consulting, design, post-processing, and custom material development. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Additive Manufacturing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on additive manufacturing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for additive manufacturing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The additive manufacturing market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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
• Companies Mentioned: General Electric Company; ANSYS Inc.; Hoganas AB; Greatbatch Inc.; Renishaw plc
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.