Additive Manufacturing Market to Observe Strong Development by 2026
Posted: Aug 16, 2017
Additive manufacturing is also known as 3D (three dimensional) printing, and it is used to create 3D objects. Computer control is used to create a 3D object, to create the object, additive processes are used. The 3D objects can be customized as per the industry requirement.
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Additive manufacturing is used for taking the 3D print of objects in various industries such as automotive, healthcare, education, research, government, aerospace, defence, consumer products and industrial. Products with the complex design can be easily conceptualize and manufactured with the help of additive manufacturing. The usage of 3D printing or additive manufacturing is extensively used for customization of the products. The industries are able to manufacture the products with complex designs with the higher accuracy with the help of additive manufacturing. There are different technologies that are used in the additive manufacturing or 3D printing such as robocasting, fused deposition modeling, stereo lithography, electron beam melting, selective heat sintering, selective laser sintering, direct metal laser sintering, laminated object manufacturing and powder bed. To create a 3D object various materials are used such as plastic, rubber and metal alloys. In the global additive manufacturing market, the most used material type is plastic. The type of plastics that are used as materials for 3D printing are nylon, polylactic acid, and acrylonitrile-butadiene-styrene.
The growth in the industrialization and demand for products with complex design is propelling the growth of global additive manufacturing market.
Additive Manufacturing Market: Drivers and Challenges
Growth in industries such as automotive, manufacturing, aerospace, food & beverages and healthcare is fueling the growth of global additive manufacturing market. Demand for additive manufacturing is expected to be significant from dental and medical industries during the forecast period (2015?2025). As the global economy is expected to grow in the near future, the per capita income & consumption in expected to grow as well. Growing population with the high per capita income is propelling the growth for the global additive manufacturing market. In future, the usage of 3D printing or additive manufacturing is expected to grow for designing parts and finished goods. The global additive manufacturing market is also expected to propel during the forecast period, due to the expected price drop in the 3D printers.
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Currently, the usage of additive manufacturing or 3D printing is on the rise in developed economies, but the usage is limited in the developing economies. The limited penetration of additive manufacturing in the underdeveloped and developing economies is expected to inhibit the growth of the global additive manufacturing market over the forecast period.
Additive Manufacturing Market: Overview
The global additive manufacturing market by value is expected to expand at a CAGR of around 18–22% during the forecast period (2015-2025), due to increasing demand for 3D printing from industries such as automotive, dental, manufacturing and healthcare.
Additive Manufacturing Market: Region-wise Outlook
The global additive manufacturing market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, global Additive Manufacturing market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa. In terms of market revenue, Asia Pacific Excluding Japan additive manufacturing market is projected to register a significant CAGR during the forecast period. Growth in the industries such as automotive, healthcare & manufacturing is fueling the growth of additive manufacturing market in Asia Pacific Excluding Japan. Western Europe and North America are also forecast to register a significant growth in the global additive manufacturing market.
Additive Manufacturing Market: Key Players
Some of the key market participants in global Additive Manufacturing market are MCor Technologies Ltd., Materialise NV, 3D Systems, Inc., ExOne, EOS and Stratasys Ltd.
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