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Additive Manufacturing Market

Global Market Study on Additive Manufacturing: Commercial Revolution to drive the market

Additive Manufacturing Market by Technology (Powder Bed Fusion, Direct Energy Deposition, Material Jetting, Binder Jetting, Material Extrusion, and Photo Polymerization)

Global Additive Manufacturing Market Snapshot

As per the latest market estimations published by Persistence Market Research (PMR), global additive manufacturing market is anticipated to reach a valuation of US$ 25,899.3 Million by the end 2023. Nimble growth in demand for complex geometries with high end precision across a wide range of end-use industries along with high penetration rate of additive manufacturing techniques in overall manufacturing industry is expected to increase the market valuation with remarkable double-digit compound annual grwoth rate (CAGR) of 21.6% throughout the forecast period.

Market Valuation (2022A)

US$ 21,291.3 Million

Market Estimation (2023E)

US$ 25,899.3 Million

Market Projections (2033F)

US$ 183,715.79 Million

Value CAGR (2023 to 2033)

21.6%

Collective Value Share: Top 3 Countries (2023E)

50% to 55%

Additive manufacturing (AM) is the industrial production name for 3D printing, a computer controlled process that creates three dimensional objects by depositing materials, usually in layers. Using computer aided design (CAD) or 3D object scanners, additive manufacturing allows for the creation of objects with precise geometric shapes. These are built layer by layer which is in contrast to traditional manufacturing that often requires machining or other techniques to remove surplus material.

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Historical (2018 to 2022) v/s Forecast (2023 to 2033) Market Outlook

3D printing is considered the most recent and advanced manufacturing technique. 3D printing has penetrated the market in a very short period of time. Despite being at the entry-level stage, the technology still manages to successfully replace conventional manufacturing techniques across a wide range of end-use industries. A few of these end-use industries include medical, aerospace and defense, electronics, and numerous other industries that are on the verge of switching from conventional manufacturing techniques to 3D printing.

According to a study, over the historical timeframe of this study, the price of cheapest 3d printers has been reduced from a value between US$ 47,000 and US$ 50,000 per unit in 2018 to even less than US$ 2,000 per unit. Robust growth in demand for 3d printers over the same timeframe promoted their mass production which was the key factor that promoted the such huge price drop over such a short period of time.

Consistently increasing penetration rates across numerous applications are anticipated to increase the market valuation at a never-before-seen growth rate for the additive manufacturing market across the world. Technological advancements in every sector of the economy have been the biggest promoter of 3D printing technologies, and a rapid rise in investment across research and development in numerous end-use industries is anticipated to propel the growth of 3D printing technologies over the upcoming assessment period of 2023 to 2033.

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Market Dynamics

Rising Defence Spending To Relish Additive Manufacturing Benefits

Abilities of 3dprinitng is still not confined or limited to several end-use industries. Manufacturing of defence equipment is all set witness revolutionary changes with the incorporation of 3d printing technologies in their manufacturing. 3d printing technologies are known to manufacture complex geometries with high end precision with great ease. Incorporation of such technologies in manufacturing of defence equipment and armories can reduce the overall cost of production and expedite the mass production process of defence equipment.

Over some recent years, the world has witnessed various complexities of geopolitics. Few of the examples include Russia and Ukraine, Ajerbaijan and Armenia, China and Taiwan disputes, Israel Palestine, Afghanistan conflict, and various others. Such situations has promoted the regional governements directly or indirectly involved in such situations to invest in their defence expenditures to maintain peace or safeguard their citizens. Countries like U.S., U.K., China, Russia, and France are investing a fair amount of their annual budget in defence research specifically to incorporate 3d priniting in production of defence equipment.

For instance,

  • According to a study, Under an experimental new 5 million Euros program named "Project Tampa," the U.K.'s Ministry of Defence (MOD) intends to 3D print individual components for weapons and other military hardware as needed.
  • U.S. government has commissioned the set-up of a 3d printer for production of defence equipment by the collaboration of ASTRO America, Ingersoll Machine Tool, and few other leading American companies.
  • ITAMCO (Indiana Technology and Manufacturing Companies), has developed a runway for military airfields applications using additive manufacturing.

Transforming the electronic industry using additive manufacturing

Electronics manufacturing is concentrated in just one region: East Asia. China, Taiwan, and South Korea are world leaders in terms of electronic manufacturing. Industrialization 4.0 has promoted automation across various sectors of the economy at robust growth rates. Automation has entered the market with such nimble growth rates that research is targeting even automating food deliveries across the globe.

Such a level of automation is creating huge demand for electronics products across the globe. The main factor restraining the growth of the electronics industry despite such a high demand is the precision and time required in the production of numerous electronic products such as printed circuit boards, semiconductors, and various others.

3D printing is emerging as a viable solution to help the electronic industry overcome such production challenges. Currently, prominent electronic product manufacturers are relying on additive manufacturing techniques to cater to low quantity orders with competitive pricing. With the increasing adoption of 3D printing and the emergence of pocket-friendly additive manufacturing solutions, these techniques are expected to replace conventional manufacturing over a short period of time.

High Capital Investment – One of the Predominant Challenge

The market introduction of additive manufacturing is facing three primary challenges that are impeding its penetration: consumer awareness and understanding, the initial cost of investment, and conventional production concerns. The capital cost for an additive manufacturing machine is ranging from US$ 50,000 to US$ 400,000 based on required applications, and in addition to that, the lack of skilled professionals also affects the adoption of additive manufacturing. Such factors have made end users stick with conventional machines. Subsequently, the number of consumers in developing countries is relatively lower than in developed countries.

Additionally, lack of technological advancements in the countries of Africa and Eastern Europe will have low adoption rate of additive manufacturing. The main factor augmenting the growth of the additive manufacturing market are government regulations. However, regions other than North America and Europe have no regulations or relatively lower number of regulations, which in turn, will negatively impact the demand for additive manufacturing.

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Country-wise Analysis

U.S. to lead the way in global additive manufacturing market.

United states is anticipated to lead the global additive manufacturing market with the largest installed base for 3d printer in the world. With such a dominant presene of the 3d printers in the country U.S. is likely to contribute more than one third in the revenue generated by additive manufacturing worldwide.

Despite a boom in adoption of the technology in the U.S. over the past year, over 60% of American businesses may potentially relish the benefits of 3D printing if they are not already using it, according to the 3D Printing Sentiment Index 2021. This suggests that there will be plenty of opportunity in this area in the years to come.

Refurbishing “made in china” into “intellingent manufacturing in china”

China, a significant industrialized country, has embraced 3D printing since 2012 with central government-level support measures. 2015 saw the designation of 3D printing as one of the key national goals by the Ministry of Industry and Information Technology. 2018 saw a focus on industrial 3D printing from the National Development and Reform Commission, particularly for big engines and space technology. The National Intellectual Property Administration of China identified 3D printing material firms as important assistance priorities in 2018.

The industrial sector in China has been steadily advancing additive manufacturing every year. To maintain their status as the "manufacturing hub of the world," Chinese manufacturers are spending fair capital in cutting-edge production processes. Over the upcoming assessment period of 2023 to 2033, these investments are anticipated to fuel the growth rate of the Chinese market.

Zaid Sheikh

Zaid Sheikh
Client Partner

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Category-wise Insights

What is 3D Printing Metal Market Outlook by Application?

In 2022, the automotive sector dominated the market and contributed the leading share in global revenue. Aerospace, defence & military, medical & dental, marine, building & construction, among others, are additional end-uses. Leading portion of the growth of 3D printing is anticipated to come from the end users in the aerospace, healthcare, and automotive industries over the course of the forecast period as a result of these industries' active adoption of technology.

The healthcare market is likely to grow at leading CAGR among all end-uses throughout the forecast period. In the healthcare industry, additive manufacturing aids in the creation of synthetic muscles and tissues that can be used in replacement surgeries to mimic natural human tissues. These capabilities are anticipated to significantly contribute to the growth of the industrial sector and to the acceleration of the adoption of 3D printing throughout the healthcare sector.

Competitive Landscape

With rapid adoption of additive manufacturing across the globe and increasing number of market participants, the market transitioning towards fragmented nature. Currently prominent market players hold more than three-fourth of the market share. Technological advancements in 3d printer market and decrease in overall initial capital investment, number of market penetraters or entrants is anticipated to witness robust growth and dominance of key players is expected to witness substantial decline throughout the upcoming assessment period.

Scope of Report

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

USD Million for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • BENELUX
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia and New Zealand
  • Gulf Co-operation Council Countries
  • Türkiye
  • Northern Africa
  • South Africa

Key Segments Covered

  • Technology
  • Application
  • Product Type
  • Region

Key Companies Profiled

  • Reinshaw Plc
  • Materialise
  • Wipro Limited
  • ANSYS, Inc.
  • Siemens Industry Software Inc.
  • Evonik
  • Stratasys Ltd.
  • Xerox Corporation
  • General Electric
  • AMFG
  • Optomec
  • American Additive Manufacturing LLC
  • Mazak Corporation.
  • Others

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available Upon Request

Key Segments Covered in Additive Manufacturing Industry Research

By Technology:

  • Powder Bed Fusion
  • Direct Energy Deposition
  • Material Jetting
  • Binder Jetting
  • Material Extrusion
  • Photo polymerization

By Application:

  • Medical
  • Automotive
  • Aerospace & Defence
  • Consumer Electronics
  • Architecture
  • Industrial Equipment
  • Education & Research Institutions

By Product Type:

  • Hardware
    • Polymers Machine
    • Metal Machine
    • Desktop Machine
  • Material
    • Polymers and Composite
    • Metals
    • Ceramics
  • Software

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

- Companies Covered in This Report -

  • Renishaw Plc
  • Materialise
  • Wipro Limited
  • ANSYS, Inc.
  • Siemens Industry Software Inc.
  • Evonik
  • Stratasys Ltd.
  • Xerox Corporation
  • General Electric
  • AMFG
  • Optomec
  • American Additive Manufacturing LLC
  • Mazak Corporation.

- Frequently Asked Questions -

The global market of has reported a valuation of US$ 21,291.3 Million in 2022.

The global market is estimated to reach a valuation of US$  25,899.3 Million in 2023.

The global market is estimated to reach a valuation of US$ 183,715.79 Million in 2033.

The global market has exhibited a value CAGR of 19.2% over the last four Years.

The global market has projected a value of CAGR of 21.6% from 2023 to 2033.

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