Global Additive Manufacturing Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,500	161 Pages	Koncept Analytics	November, 2023	KOAN18283377

Best Price Guarantee
Price	from $4,500
Length	161 Pages
Publisher	Koncept Analytics
Published Date	November, 2023
SKU	KOAN18283377

Global Additive Manufacturing Market (by Printer Type, Material, Application, Component, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)

Market Insight:

Additive manufacturing (AM), often known as 3D printing, is an innovative approach to industrial production that uses a computer-controlled technique to create three-dimensional objects through the process of adding materials layer-by-layer. It works by directing machinery to insert material layer by layer to build accurate geometric forms using a computer-aided design (CAD) or 3D object scanner.

The future of additive manufacturing technology is bright, with increasing usage in the industrial and medical sectors. As a result, increased applications of additive manufacturing in numerous industrial verticals is one of the primary causes driving additive manufacturing demand in the coming years. The global additive manufacturing market is expected to reach US$20.40 billion by 2023, growing at a CAGR of 21.21% over the projected period.

Segment Covered:

By Printer Type: In terms of printer type, the report offers insights of the global additive manufacturing market into four segments: Industrial 3D Printer and Desktop 3D Printer. The industrial 3D printer held largest share in the market. On the other hand, the desktop 3D printer segment is expected to grow at a significant CAGR in the forthcoming years as these are rapidly being used for home and household uses. These are also being employed in educational institutes, schools, and universities for technical instruction and research. As a result, demand for desktop printers is predicted to increase during the forecast period.
By Material: On the basis of material, the report provides the segmentation of the global additive manufacturing market as follows: Metals, Polymers, Ceramics, and Others. The metals segment held the maximum share in the market. The market's expansion is aided by the increasing demand for metal additive manufacturing in various industries such as automotive, aerospace, healthcare and dental industry, and academic institutions.
By Application: The report further provides the categorization of the market into three key segments, according to the application: Prototyping, Tooling & Functional Parts. Prototyping was the market leader and is anticipated to remain dominant throughout the forecasted period. Prototyping is used extensively in the automotive and aerospace and military industries to precisely design and build components, parts, and complex systems. Manufacturers can experience improved accuracy and manufacture more reliable end-products by prototyping. As a result, the growth of this segment is estimated to surge in the forecast period.
By Component: The report also offers the segmentation of the market based on the component: Hardware, Software, and Services. The hardware segment held the highest share in the market. The strong emphasis manufacturing entities continued to put on pursuing advanced manufacturing practices and rapid prototyping allowed the hardware segment to dominate the market. The hardware segment is poised for significant growth over the forecast period owing to various factors, such as rapid industrialization, the growing demand for consumer electronics products, and many other factors.

Geographic Coverage:

According to this report, the global additive manufacturing market can be divided into four regions, namely, North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The countries covered in North America region are the US, Canada, and Mexico, while Europe includes Germany, The UK, France, Italy, Spain, and Rest of the Europe. Moreover, China, Japan, South Korea, India, Indonesia and Rest of the Asia Pacific are included in the Asia Pacific region.

North America held the maximum share in the market owing to increasing R&D investment in this sector coupled with an infrastructure that supports the same, advancements in technological to sustain the consumer demand and the early adoption of 3D printing technology in the region. The US market dominated the region due to advanced development in technologies. In Europe, Italy is expected to be the fastest growing region in the forecasted period. Whereas, in the Asia Pacific region, China dominated the market owing to the various imposition by the Chinese government for quality standards, strengthening monitoring, and encouraging firms to improve products, growth in spending on additive manufacturing technology development and rising efforts to improve consumer product quality and promote the Made in China mark in order to meet rising demand.

Top Impacting Factors:

Growth Drivers

Upsurge in Demand for Personalized Medicine
Rising Demand for Lightweight Components from Automotive Industry
Growing Utilization in Aerospace Industry
Expanding Consumer Electronics Industry

Challenges

High Initial Capital Requirements
Lack of Standardized Equipment

Trends

Surging Applications in Dentistry
Enhanced Productivity Benefits Offered by Additive Manufacturing
Technological Advancements
Rising Trend of Miniaturization
Driver: Growing Utilization in Aerospace Industry

With the growth in manufacturing market, many aerospace companies are turning from conventional manufacturing processes to additive manufacturing to reduce costs, overcome traditional manufacturing challenges. Additive manufacturing is transforming aerospace manufacturing with the ability to create customized, lightweight, and structurally sound parts quickly and efficiently, cutting costs, carbon emissions, material waste, and development times while allowing for component creation that was previously impossible. Additionally, with the use of additive manufacturing, it is possible to create intricate parts with less lead time and energy from a wide variety of materials. Thus, growing demand for lightweight components from aerospace industry is supporting the global additive manufacturing market growth.

Challenge: High Initial Capital Requirements

Additive Manufacturing is a time-consuming and costly process as far as initial investments are concerned. In other words, a lot has to be invested with patience for feasible outcome to come through. This is why, the biggest barrier to the implementation of this technology is reportedly its high initial costs. Setting up a 3D system requires significant capital expenditures and more resources than conventional printing techniques. Not every business have the capacity to affordably integrate this type of activity into their business processes. The average price for additive manufacturing equipment is between US$300,000 to US$1.5 million. The industrial consumables cost varies from US$100 to US$150 per piece. Although, the final price depends on the chosen material, such as plastic, which is considered the most budget-friendly option among all other materials available. The time required is also quite high as it takes more than an hour to print a 40cm object. As such, the start-ups are likely to give a second thought before going for additive manufacturing. This factor is bound to restrain the additive manufacturing market growth in the forecast period.

Trend: Surging Applications in Dentistry

An increasing number of dental injuries, owing to road accidents and sports injuries, are also some of the major factors favoring the demand for dental implants. A substantial rise in the adoption of dental implants is leading to growing demand for additive manufacturing in the dentistry. In the dental field, AM is utilized on splints, orthodontic appliances, dental models and drill guides. Additive manufacturing of implants has advantages such as customization, flexibility, and freedom in implant design and the possibility of manipulating chemical and physical parameters. Moreover, AM has improved the accuracy of implant surgeries and made implants more comfortable for patients. Accordingly, surging applications in dentistry is expected to propel the market growth of additive manufacturing, globally.

The COVID-19 Analysis:

The COVID-19 outbreak resulted in hampering the demand for additive manufacturing in various applications. Governments of various countries across the globe have enforced lockdown measures to curb the spread of the disease. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown. A few companies, such as SLM Solutions, ExOne and Protolabs, witnessed marginal growth.

Analysis of Key Players:

The global additive manufacturing market is highly fragmented, with a large number of small- and medium-sized manufacturers operating in the market. The key players in the global additive manufacturing market are:

3D Systems Corporation
Materialise NV
Stratasys Ltd.
Canon Inc.
HP, Inc.
Proto Labs, Inc.
General Electric (GE Additive)
Renishaw Plc
Desktop Metal, Inc. (EnvisionTec, Inc.)
Electro Optic Systems (EOS) GmbH
Autodesk Inc.
voxeljet AG
Optomec Inc.

Some of the strategies among key players in the market for additive manufacturings are product launches, mergers, acquisitions, and collaborations. For instance, in November 2021, Optomec Inc., announced the launch of two new additive manufacturing machines specifically designed for high volume production and incorporate automated part-handling options. On the other hand, Stratasys Ltd., announced that Danish shoe manufacturer ECCO is using Stratasys Origin one 3D printing technology to accelerate product development, by allowing conceptual footwear samples to be reviewed early in the development cycle using 3D printed mold and lasts with resin materials from Henkel Loctite.

1. Executive Summary 2. Introduction 2.1 Additive Manufacturing: An Overview 2.1.1 Introduction to Additive Manufacturing 2.1.2 Advantages of Additive Manufacturing Table 1: Advantages of Additive Manufacturing 2.1.3 Comparison Between Additive Manufacturing and Conventional Casting Table 2: Comparison Between Additive Manufacturing and Conventional Casting 2.2 Additive Manufacturing Segmentation: An Overview 2.2.1 Additive Manufacturing Segmentation Table 3: Additive Manufacturing Segmentation 3. Global Market Analysis 3.1 Global Additive Manufacturing Market: An Analysis 3.1.1 Global Additive Manufacturing Market: An Overview 3.1.2 Global Additive Manufacturing Market by Value Table 4: Global Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 5: Global Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 3.1.3 Global Additive Manufacturing Market by Printer Type Table 6: Global Additive Manufacturing Market by Printer Type; 2021 (Percentage, %) 3.1.4 Global Additive Manufacturing Market by Material Table 7: Global Additive Manufacturing Market by Material; 2021 (Percentage, %) 3.1.5 Global Additive Manufacturing Market by Application Table 8: Global Additive Manufacturing Market by Application; 2021 (Percentage, %) 3.1.6 Global Additive Manufacturing Market by Component Table 9: Global Additive Manufacturing Market by Component; 2021 (Percentage, %) 3.1.7 Global Additive Manufacturing Market by Region Table 10: Global Additive Manufacturing Market by Region; 2021 (Percentage, %) 3.2 Global Additive Manufacturing Market: Printer Type Analysis 3.2.1 Global Additive Manufacturing Market by Printer Type: An Overview 3.2.2 Global Industrial 3D Printer Additive Manufacturing Market by Value Table 11: Global Industrial 3D Printer Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 12: Global Industrial 3D Printer Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 3.2.3 Global Desktop 3D Printer Additive Manufacturing Market by Value Table 13: Global Desktop 3D Printer Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 14: Global Desktop 3D Printer Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 3.3 Global Additive Manufacturing Market: Material Analysis 3.3.1 Global Additive Manufacturing Market by Material: An Overview 3.3.2 Global Metals Additive Manufacturing Market by Value Table 15: Global Metals Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 16: Global Metals Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 3.3.3 Global Polymers Additive Manufacturing Market by Value Table 17: Global Polymers Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 18: Global Polymers Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 3.3.4 Global Ceramics Additive Manufacturing Market by Value Table 19: Global Ceramics Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 20: Global Ceramics Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 3.3.5 Global Other Additive Manufacturing Market by Value Table 21: Global Other Additive Manufacturing Market by Value, 2017-2021 (US$ Billion) Table 22: Global Other Additive Manufacturing Market by Value, 2022-2027 (US$ Billion) 3.4 Global Additive Manufacturing Market: Application Analysis 3.4.1 Global Additive Manufacturing Market by Application: An Overview 3.4.2 Global Prototyping Additive Manufacturing Market by Value Table 23: Global Prototyping Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 24: Global Prototyping Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 3.4.3 Global Tooling Additive Manufacturing Market by Value Table 25: Global Tooling Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 26: Global Tooling Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 3.4.4 Global Functional Parts Additive Manufacturing Market by Value Table 27: Global Functional Parts Additive Manufacturing Market by Value; 2017-2021 (US$ Million) Table 28: Global Functional Parts Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 3.5 Global Additive Manufacturing Market: Component Analysis 3.5.1 Global Additive Manufacturing Market by Component: An Overview 3.5.2 Global Additive Manufacturing Hardware Market by Value Table 29: Global Additive Manufacturing Hardware Market by Value; 2017-2021 (US$ Billion) Table 30: Global Additive Manufacturing Hardware Market by Value; 2022-2027 (US$ Billion) 3.5.3 Global Additive Manufacturing Software Market by Value Table 31: Global Additive Manufacturing Software Market by Value; 2017-2021 (US$ Billion) Table 32: Global Additive Manufacturing Software Market by Value; 2022-2027 (US$ Billion) 3.5.4 Global Additive Manufacturing Services Market by Value Table 33: Global Additive Manufacturing Services Market by Value; 2017-2021 (US$ Billion) Table 34: Global Additive Manufacturing Services Market by Value; 2022-2027 (US$ Billion) 4. Regional Market Analysis 4.1 North America Additive Manufacturing Market: An Analysis 4.1.1 North America Additive Manufacturing Market: An Overview 4.1.2 North America Additive Manufacturing Market by Value Table 35: North America Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 36: North America Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.1.3 North America Additive Manufacturing Market by Region Table 37: North America Additive Manufacturing Market by Region; 2021 (Percentage, %) 4.1.4 The US Additive Manufacturing Market by Value Table 38: The US Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 39: The US Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.1.5 Canada Additive Manufacturing Market by Value Table 40: Canada Additive Manufacturing Market by Value; 2017-2021 (US$ Million) Table 41: Canada Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.1.6 Mexico Additive Manufacturing Market by Value Table 42: Mexico Additive Manufacturing Market by Value; 2017-2021 (US$ Million) Table 43: Mexico Additive Manufacturing Market by Value; 2022-2027 (US$ Million) 4.2 Europe Additive Manufacturing Market: An Analysis 4.2.1 Europe Additive Manufacturing Market: An Overview 4.2.2 Europe Additive Manufacturing Market by Value Table 44: Europe Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 45: Europe Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.2.3 Europe Additive Manufacturing Market by Region Table 46: Europe Additive Manufacturing Market by Region; 2021 (Percentage, %) 4.2.4 Germany Additive Manufacturing Market by Value Table 47: Germany Additive Manufacturing Market by Value; 2017-2021 (US$ Million) Table 48: Germany Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.2.5 The UK Additive Manufacturing Market by Value Table 49: The UK Additive Manufacturing Market by Value; 2017-2021 (US$ Million) Table 50: The UK Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.2.6 France Additive Manufacturing Market by Value Table 51: France Additive Manufacturing Market by Value; 2017-2021 (US$ Million) Table 52: France Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.2.7 Italy Additive Manufacturing Market by Value Table 53: Italy Additive Manufacturing Market by Value; 2017-2021 (US$ Million) Table 54: Italy Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.2.8 Spain Additive Manufacturing Market by Value Table 55: Spain Additive Manufacturing Market by Value; 2017-2021 (US$ Million) Table 56: Spain Additive Manufacturing Market by Value; 2022-2027 (US$ Million) 4.2.9 Rest of Europe Additive Manufacturing Market by Value Table 57: Rest of Europe Additive Manufacturing Market by Value; 2017-2021 (US$ Million) Table 58: Rest of Europe Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.3 Asia Pacific Additive Manufacturing Market: An Analysis 4.3.1 Asia Pacific Additive Manufacturing Market: An Overview 4.3.2 Asia Pacific Additive Manufacturing Market by Value Table 59: Asia Pacific Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 60: Asia Pacific Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.3.3 Asia Pacific Additive Manufacturing Market by Region Table 61: Asia Pacific Additive Manufacturing Market by Region; 2021 (Percentage, %) 4.3.4 China Additive Manufacturing Market by Value Table 62: China Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 63: China Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.3.5 Japan Additive Manufacturing Market by Value Table 64: Japan Additive Manufacturing Market by Value; 2017-2021 (US$ Million) Table 65: Japan Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.3.6 South Korea Additive Manufacturing Market by Value Table 66: South Korea Additive Manufacturing Market by Value; 2017-2021 (US$ Million) Table 67: South Korea Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.3.7 India Additive Manufacturing Market by Value Table 69: India Additive Manufacturing Market by Value; 2022-2027 (US$ Million) Table 68: India Additive Manufacturing Market by Value; 2017-2021 (US$ Million) 4.3.8 Indonesia Additive Manufacturing Market by Value Table 70: Indonesia Additive Manufacturing Market by Value; 2017-2021 (US$ Million) Table 71: Indonesia Additive Manufacturing Market by Value; 2022-2027 (US$ Million) 4.3.9 Rest of Asia Pacific Additive Manufacturing Market by Value Table 72: Rest of Asia Pacific Additive Manufacturing Market by Value; 2017-2021 (US$ Million) Table 73: Rest of Asia Pacific Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 4.4 LAMEA Additive Manufacturing Market: An Analysis 4.4.1 LAMEA Additive Manufacturing Market: An Overview 4.4.2 Latin America, Middle East & Africa Additive Manufacturing Market by Value Table 74: Latin America, Middle East & Africa Additive Manufacturing Market by Value; 2017-2021 (US$ Billion) Table 75: Latin America, Middle East & Africa Additive Manufacturing Market by Value; 2022-2027 (US$ Billion) 5. Impact of COVID-19 5.1 Impact of COVID on Additive Manufacturing Market 5.1.1 General Impact 5.1.2 Market Changes 6. Market Dynamics 6.1 Growth Drivers 6.1.1 Upsurge in Demand for Personalized Medicine Table 76: Global Personalized Medicine Market; 2015-2022 (US$ Trillion) 6.1.2 Rising Demand for Lightweight Components from Automotive Industry Table 77: Global Automotive Manufacturing Industry Revenue; 2020-2022 (US$ Trillion) 6.1.3 Growing Utilization in Aerospace Industry Table 78: Global Military Aircraft & Aerospace Manufacturing Market; 2018-2021 (US$ Billion) 6.1.4 Expanding Consumer Electronics Industry Table 79: Global Consumer Electronics Industry Revenue; 2020-2026 6.1.5 Increasing Government Funding to Promote Additive Manufacturing 6.1.6 Relatively Lower Production Cost for Rapid Manufacturing 6.2 Challenges 6.2.1 High Initial Capital Requirements 6.2.2 Technical Issues 6.2.3 Lack of Standardized Equipment 6.3 Market Trends 6.3.1 Surging Applications in Dentistry Table 80: Global Implants Market Forecast; 2016-2023 6.3.2 Enhanced Productivity Benefits Offered by Additive Manufacturing Table 81: Number of 3D Printing & Additive Manufacturing Devices Worldwide; 2021-2026 6.3.3 Technological Advancements 6.3.4 Rising Trend of Miniaturization 7. Competitive Landscape 7.1 Global Metal Additive Manufacturing Players by Market Share Table 82: Global Metal Additive Manufacturing Players by Market Share; 2021 (Percentage,%) 7.2 Global Aerospace Additive Manufacturing Players by Market Share Table 83: Global Aerospace Additive Manufacturing Players by Market Share; 2021 (Percentage, %) 8. Company Profiling 8.1 Stratasys, Ltd. 8.1.1 Business Overview 8.1.2 Operating Region Table 84: Stratasys, Ltd. Revenues by Region; 2021 (Percentage, %) 8.1.3 Business Strategy 8.2 Materialise NV 8.2.1 Business Overview 8.2.2 Operating Segment Table 85: Materialise NV Revenue by Segment; 2021 (Percentage, %) 8.2.3 Business Strategy 8.3 3D Systems Corporation 8.3.1 Business Overview 8.3.2 Operating Segment Table 86: 3D Systems Corporation Net Sales by Segment; 2021 (Percentage, %) 8.3.3 Business Strategy 8.4 General Electric (GE Additive) 8.4.1 Business Overview 8.4.2 Operating Segments Table 87: General Electric Revenue by Segment; 2021 (Percentage, %) 8.4.3 Business Strategy 8.5 Voxeljet AG 8.5.1 Business Overview 8.5.2 Operating Segments Table 88: Voxeljet AG Revenue by Segment; 2021 (Percentage, %) 8.5.3 Business Strategy 8.6 Canon Inc. 8.6.1 Business Overview 8.6.2 Operating Segments Table 89: Canon Inc. Net Sales by Segment; 2021 (Percentage, %) 8.6.3 Business Strategy 8.7 HP, Inc. 8.7.1 Business Overview 8.7.2 Operating Segment Table 90: HP, Inc. Net Revenue by Segment; 2021 (Percentage, %) 8.7.3 Business Strategy 8.8 Proto Labs, Inc. 8.8.1 Business Overview 8.8.2 Operating Segment Table 91: Proto Labs, Inc. Revenue by Segment; 2021 (Percentage, %) 8.8.3 Business Strategy 8.9 Renishaw Plc 8.9.1 Business Overview 8.9.2 Operating Segment Table 92: Renishaw Plc Revenue by Segment; 2021 (Percentage, %) 8.9.3 Business Strategy 8.10 Desktop Metal, Inc. (EnvisionTec, Inc.) 8.10.1 Business Overview 8.10.2 Business Strategy 8.11 Autodesk, Inc. 8.11.1 Business Overview 8.11.2 Business Strategy 8.12 Optomec, Inc. 8.12.1 Business Overview 8.12.2 Business Strategy 8.13 Electro Optic Systems (EOS) GmbH 8.13.1 Business Overview 8.13.2 Business Strategy