Global Additive Manufacturing Market By Material Type (Plastics, Metals, and Ceramics), By Technology (Stereolithography (SLA), Fused Disposition Modelling (FDM), and Others), By Application, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the Global Additive Manufacturing Market was valued at USD 14.2 billion; this market is estimated to register at the highest CAGR of 20.9% during the forecast period of 2023 to 2032.

Additive manufacturing is the process of creating a solid object from a 3D model with the use of 3D printers. It uses Computer-Aided Design(CAD) for the creation of objects with precise geometrical shapes.

The additive manufacturing process is easy to learn, reduces raw material wastage, and has more speed than other traditional manufacturers. Additive manufacturing has a great application in the healthcare, automotive industries, and defense sectors. Increasing digitalization and industrialization will drive the growth of the market during the forecast period.

Key Takeaways

• Market Growth: The global Additive Manufacturing Market is expected to be valued at USD 90.2 billion in 2032, showing a significant growth from USD 14.2 billion in 2022, with a remarkable Compound Annual Growth Rate (CAGR) of 20.9%.
• Additive Manufacturing Definition: Additive manufacturing is the process of creating solid objects from 3D models using 3D printers. It relies on Computer-Aided Design (CAD) for precise geometrical shapes.
• Advantages of Additive Manufacturing: Additive manufacturing is known for its ease of learning, reduced raw material wastage, and faster production compared to traditional manufacturing methods. It finds applications in healthcare, automotive, and defense industries.
• Demand from Automotive and Aerospace: The automotive and aerospace industries are driving the growth of additive manufacturing due to their need for lightweight components, reduced production times, and cost control.
• High Demand for 3D Printers: As industrialization advances, there is a growing demand for metal 3D printed products, especially in the aerospace, automotive, and healthcare sectors. This technology is also used in defense for various applications.
• Challenges in Additive Manufacturing: The lack of skilled professionals and the relatively high cost of additive manufacturing processes are limiting factors in the market’s growth.
• Material Types: Plastics dominate the material type segment due to their suitability for low-volume production, repeatability, and design modification, while ceramics are expected to grow due to the need for large-scale precision ceramic components.
• Dominant Technology: Stereolithography (SLA) is the leading technology, known for its use in creating accurate prototypes and models. It offers speed, cost-effectiveness, flexibility, and precision.
• Applications: Additive manufacturing is widely used in the automotive industry for product development and design flexibility. It is also applied in the aerospace, healthcare, and defense sectors.
• Opportunity in Healthcare: The healthcare industry is contributing to the growth of additive manufacturing, especially in emerging economies. Additive manufacturing products are used for creating artificial tissues and organs, enhancing healthcare facilities.
• Trends: Manufacturers are focusing on efficient raw material acquisition and research & development to improve their products. Mergers, acquisitions, and partnerships are driving innovation in the market.
• Regional Analysis: North America is the most lucrative market, holding a 33% market share. Asia Pacific is expected to show the fastest growth, with China and India leading the way.
• Key Market Players: Major players in the additive manufacturing market include SLM Solutions, Proto Labs, Renishaw Plc., Titomic Limited, and more. They are focusing on product innovation and expanding their operations.

Drivers

Increasing Demand for Lightweight Components from the Automotive and Aerospace Industries

The automotive and aerospace sectors require a number of interrelated technical and economic goals such as functional performance, reduced cycle times, lightweight construction, cost control, and provision of safety-critical components.

To meet increasing demand, compensate for fuel consumption and cost management, improve technical performance, and create lighter construction, additive manufacturing techniques play an important role. It directly relates to improved economic and technical performance, helping the aviation industry to carry more payload.

Additive manufacturing techniques use layer-by-layer manufacturing based on materials such as typical powders and wires and lightweight plastic polymers as an alternative to conventional manufacturing methods.

High Demand for 3D Printers Driving the Market Growth

As industrialization progresses, industries such as aerospace, automotive, healthcare, and other industries are in great demand for metal 3D printed products. There is a high demand from various fields to customize the aerospace parts of jet engines and other structural parts. Along with parts in the automotive industry to customize the design of shoes and other electronic devices. This results in the consistent development of 3D printing technology.

Therefore, the demand for advancements and convenience in additive manufacturing technology will lead to increased demand for metal 3D printing technology during the forecast period. Also, additive manufacturing has a vital role in defense sectors for the production of bullets, parts of pistols, guns, tanks, ships, storage houses, and other defense equipment expected to drive the market in the forecast period.

Restraints

Lack of Skilled Professionals and High Cost

The most common cause of restraining market growth is the lack of professionals and skilled workers in additive manufacturing industries. The additive manufacturing technique is too expensive or more complex than traditional manufacturing processes, which results in hindering market growth.

Material Type Analysis

Plastic Segment is Dominating this Target Market in Terms of Material Type

Based on Material Type, the market for additive manufacturing is classified into plastics, metals, and ceramics. The plastics segment accounts for the largest share of revenue in 2022. The use of plastics in additive manufacturing enables low-volume production of moldless plastic parts, repeatability, and design modification easier and faster. While increasing the speed of rotation, as well as custom or mass customization. Increasing awareness regarding the use of plastics in different industries as an additive is expected to drive the market in the forecast period.

The CAGR of the ceramic sector is anticipated to accelerate in the forecast period due to the increasing need for large-scale manufacturing of precision ceramic components. Technical ceramics have high rigidity and power, brilliant performance at high temperatures, outstanding thermal shock resistance, and high chemical stability under harsh conditions. These unique properties of ceramic will help to propel the additive manufacturing market.

Technology Analysis

Stereolithography Segment Dominates this Market

By technology, the market for additive manufacturing is segmented into Fused Disposition Modelling (FDM), Stereolithography (SLA), Binder Jetting Printing, Laser Sintering (LS), Electron Beam Melting (EBM), Polyjet Printing, Laminated Object Manufacturing (LOM), and Others.

The stereolithography segment holds the largest market share in 2022 and is expected to register the highest CAGR during the forecast period. Stereolithography is commonly known as SLA 3D printing. Stereolithography is the most common and significant technique that is used in the additive manufacturing market. It works on principle by using a high mechanical laser to strengthen liquid resin that is enclosed in a reservoir to create the preferred 3D figure.

Stereolithography is mostly used in industries for producing accurate protoMaterial Types and models. Modern stereolithography machines offer a range of thermoplastics like polypropylene, ABS, and glass-filled polycarbonate. SLA technique provides advantages in speed, cost-effectiveness, flexibility, and precision.

Fused disposition modeling is an additive manufacturing technology that creates 3D components using a continuous composite material thread in filament form. FDM contains a wide range of colors. It is mechanically strong and stable over time and provides an excellent performance ratio.

The laser sintering method provides high design and manufacturing flexibility in terms of part geometry. Thus, it has the ability to produce unique geometry without the help of any other machine.

Binder jetting additive manufacturing is a process in which an industrial printhead selectively disposits a liquid binding agent onto a thin layer of powder particle to build high value and tooling. The binder jetting technique is mostly used for the production of full-color protoMaterial Types, low-cost metal parts, and for the production of large sand casting cores.

Polyjet printing is a powerful 3D printing technology that produces smooth, accurate parts and protoMaterial Types. The polyjet printing technique uses liquid photopolymers to create accurate models. Electron beam melting is a 3D manufacturing process in which powdered metal is melted by the high energy of electrons.

Application Analysis

The use of Additive Manufacturing in the Automotive Industry is Dominant

By application, this market is classified into Aerospace, Automotive, Consumer Products, Government and Defense, Healthcare, Industrial Machines, and Others. The automotive segment has witnessed significant use of 3D printing as a manufacturing technique in recent times.

Additive manufacturing enables the automotive industry to streamline and accelerate product development while also providing greater design flexibility. This technology allows companies to reduce their reliance on molds and castings by allowing them to create protomaterial Types that do not require them. This is expected to drive segment revenue growth.

Additive manufacturing has significant uses in aerospace industries, as it is possible to create complex parts with less lead time and energy from a wide variety of materials. Additive manufacturing also plays a vital role in consumer products like the production of 3D printed dental aligners, 3D printed insoles, 3D printed mascara brushes, shaving razors, 3d printed bike helmets, and printed bicycles.

Additive manufacturing is used in defense sectors for the production of bullets, parts of pistols, guns, tanks, ships, storage houses, and other defense equipment. Additive manufacturing plays an important role in many operational applications, such as the production of spare parts, retrofitting critical parts, and making new parts with enhanced comfort.

Key Market Segments

Based on Material Type

• Plastics
• Metals
• Ceramics

Based on Technology

• Stereolithography (SLA)
• Fused Disposition Modelling (FDM)
• Laser Sintering (LS)
• Binder Jetting Printing
• Polyjet Printing
• Electron Beam Melting (EBM)
• Laminated Object Manufacturing (LOM)
• Others

Based on Application

• Aerospace
• Automotive
• Consumer Products
• Government and Defense
• Healthcare
• Industrial Machines
• Others

Opportunity

Advancements in Healthcare Sector

The additive manufacturing industry is also boosted due to growing healthcare industries and personalized medical applications in several emerging economies such as Brazil, India, South Africa, and China.

Additive manufacturing products are also used to create artificial tissues and organs that can be used for research purposes during research laboratories and doctor-patient meetings. Development of digitization of medical images to enable reconstruction of 3D models from patient anatomy. The rapidly increasing geriatric population and rising per capita incomes are driving the need for enhancing additive manufacturing in healthcare industries in these nations.

Therefore, the governments in these economies are increasing their investments aimed at improving healthcare facilities & infrastructure. Owing to the high number of applications of additive manufacturing products in healthcare industries, the rising investment in this industry is slated to offer growth opportunities in this market.

Trends

Manufacturers Focusing on Efficient Raw Material Acquisition, R&D

Manufacturers are now more inclined toward raw material procurement at competitive pricing. Raw material procurement involves engaging in long-term supply contracts with raw material suppliers. Some independent manufacturers hire third-party suppliers to sell their products.

Additive manufacturers are increasingly focused on product innovation and differentiation as they are steadily moving toward consolidation through mergers & acquisitions, joint ventures, and collaborative partnerships. Such trends are currently being witnessed in this market, thereby bolstering the demand for these products in the process.

Regional Analysis

North America is estimated to be the most lucrative market size in the global additive manufacturing market. It holds the largest market share of 33%, during the forecast period. The presence of leading market players in this region supports the growth of the market. Additionally, advancements in technology and the adoption of research and development methods such as artificial intelligence boost the growth of the market in this region.

Asia Pacific region will be expected to show the fastest market growth due to increasing manufacturing sectors in the fastest-growing countries like China and India, along with the increasing population. The Middle East and Africa region is expected to show a slight increase in the additive manufacturing market due to increasing manufacturing industries in this region.

Key Regions and Countries

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Major company key players are focused on a variety of strategic policies to develop their respective businesses in foreign markets. Several additive manufacturing market companies are concentrating on expanding their existing operations and R&D facilities.

Furthermore, businesses in the additive manufacturing market are developing new products and portfolio expansion strategies through investments and mergers, and acquisitions. In addition, several key players are now focusing on different marketing strategies, such as new innovations, which boost the target products’ growth.

Market Key Players

• SLM Solutions
• Proto Labs
• Renishaw Plc.
• Titomic Limited.
• Höganäs AB
• Ultimaker BV
• Optomec, Inc.
• ExOne
• American Additive Manufacturing LLC
• ANSYS, Inc.
• ARBURG GmbH + Co KG
• ENVISIONTEC US LLC
• EOS GmbH
• 3D Systems Inc.
• Arcam AB
• Wipro Limited
• Other Key Players

Recent Developments

• In February 2022, Imaginarium united with Ultimaker to announce the desktop and industrial 3D printers range in the Indian market. This company would help to expand business in India, where additive manufacturing is expected to reach peak.
• In November 2021, Stratasys Ltd. A main key player in polymer 3D printing announced that ECCO is using Stratasys company’s technology-based 3D printing technology to improve product development.

Report Scope