Ascending demand for additive manufacturing or 3D printing technology from the automotive, healthcare, and consumer electronics industries will remain among the key factors fueling market for additive manufacturing at a global level. The electronics industry is particularly expanding at a spectacular rate, which would continue to offer a strong boost to the consumption of 3D printed electronics.
Despite technological blockades, Asian players are projected to hold a significant potential for market growth. This growth potential can be attributed to the rapid expansion of consumer electronics industry in the Asian region and the subsequent rise in demand for additive manufacturing machines for manufacturing of 3D printed solar cells, electronic circuit boards, conductor, resistor, and dielectric and semiconductor inks that can be processed to create both active and inert components.
Increasing Government Funding to Promote Additive Manufacturing
Increasing support of governments in form of funding is providing a strong impetus to the application potential of additive manufacturing or 3D printing technology. Government agencies in developed economies such as the U.S., the U.K., Japan, Australia, France, Italy, and Germany are funding and boosting the usage of advanced manufacturing technologies such as additive manufacturing and next-gen technologies such as Artificial Intelligence (AI), machine learning, and robotic automation to improve productivity and competitiveness.
In 2018, Australian government (Department of Industry) allotted more than US$ 20 Mn to support capital projects from SMEs and to expand advanced manufacturing activities. In 2018, the U.K. government also allocated nearly US$ 225 Mn for research and development in additive manufacturing.
Developing Economies to Offer Lucrative Investment Opportunities
The global additive manufacturing industry has been witnessing substantial growth in emerging economies such as India, China, Brazil, and Turkey. Driven by growth in emerging industries, manufacturers are focusing on ensuring on-demand manufacturing and easy customization. The adoption of additive manufacturing can significantly reduce their time-to-market. In developed economies, consumers’ expectation for safety, portability, convenience, and early delivery has increased.
The additive manufacturing market is growing at a faster rate in recent times, driven by adoption of automation solutions to fasten the manufacturing process along with the potential to reduce weight of finished goods from 30-50%. Growing demand for additive manufacturing products and options from developing countries, such as India, China, Brazil, Turkey, South Africa, Indonesia, and Malaysia, has become a driving force for the adoption of additive manufacturing machines among end-use industries.
There is a rising trend of converting conventional machines into additive manufacturing machines to increase speed, reliability, and efficiency. Further, flexible additive manufacturing options offering various benefits such as lightweight nature for aerospace and automotive applications, have further increased the demand for additive manufacturing machines in recent years.
Additive Manufacturing Market Characterized by Increasing Vendor Consolidation
The additive manufacturing market landscape is fragmented with a large number of new entrants in the market especially small and medium scale enterprises. Key participants in the additive manufacturing market are General Electric, Evonik, Xerox Corporation, Wipro Limited, Ansys, Inc., Renishaw plc., Stratasys Ltd., Mazak Corporation, and Siemens AG.
Over the last few years, additive manufacturing market has been witnessing an increase in the number of acquisitions by leading manufacturers to complement their business model and strengthen their footprint in regional markets.
A detailed view of the global additive manufacturing market has led our analyst to conclude that the market is growing impressive rate owing to increasing electronic and aerospace industry across the globe. The additive manufacturing market is expected to be characterized by innovative product development for varying end user applications over the forecast period. East Asia & South Asia additive manufacturing markets are expected to be an opportunistic market in terms of sales.
Additive Manufacturing Market - Market Perspective
Persistence Market Research (PMR) recently published market study on the global additive manufacturing market, which provides key insights into market drivers, challenges, opportunity analysis, and trends, along with detailed analysis of the additive manufacturing market structure. The additive manufacturing market study provides key and precise stats and figures explaining how the market is projected to grow during the forecast period.
Key market growth indicators, like supply chain analysis, year-on-year (Y-o-Y) growth and compounded annual growth rate (CAGR), are detailed in PMR’s research report with supporting macroeconomic and forecast factors. This will help readers to understand the market projections of the additive manufacturing market, in a quantifiable manner.
The study is relevant for manufacturers, distributors, investors, suppliers, and stakeholders. It can help them understand the growth strategies implemented by various players in the additive manufacturing market. Investors, stakeholders, researchers, industry experts, and journalists in the additive manufacturing market can benefit from the information and statistics presented in PMR’s research report.
The report also present facts & figures related to the macroeconomic factors that are estimated to impact market growth of additive manufacturing on a global level. The study also offers actionable insights based on the future projections in the additive manufacturing market. Additionally, regional manufacturers and new players in the additive manufacturing market can also leverage the information available in the additive manufacturing report to make key marketing and strategic business decisions in the market.
Key Segments of Additive Manufacturing Market
PMR’s study on the additive manufacturing market is divided into four different segments- product type, technique, application, and region. This report offers comprehensive data and information about the important Additive Manufacturing market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Additive Manufacturing Market Report
Additive Manufacturing Market: Research Methodology
In PMR’s additive manufacturing report, exclusive research methodology is utilized to conduct comprehensive research on the development of the additive manufacturing market and reach conclusions on the future growth prospects of the market. In this research methodology, secondary and primary research is utilized by assistant analysts to ensure precision and reliability of the conclusions.
Secondary resources referred by analysts during the evaluation of the additive manufacturing market study include facts and figures from World Bank, manufacturer websites, government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several additive manufacturing industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, and production managers to provide insightful information.
Comprehensive information acquired from primary resources and secondary resources is validated from companies in the additive manufacturing market to make PMR’s projection on the growth prospects of the additive manufacturing market more accurate and reliable.