Report ID: RND_001184. GPI Prototype and Manufacturing Services, Inc. Others (including Steel, Copper, and Zinc), Others (including Polyethylene [PE], Polypropylene [PP], Polyethylene Terephthalate [PETE] and Nylon), Others (Including Porcelain and Silicon Carbide), Others (including Food Materials, Composite Mixtures, and Sand/Soil), Others (including Directed Energy Deposition, VAT Polymerization, and Computer Aided Design), Others (including Food & Beverages, Toys, and Sports), Free Customization as per your requirement, You will get Custom Report at Syndicated Report price. the top layer is off powder adhered to its platform which provides minimal support if necessary. Due to various restrictions and lockdown of most industries the market was down. Who are the major players operating in the metal additive manufacturing market? Manufacturing companies are focusing on expanding their business in the untapped markets of Latin America. 
For instance: This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides an analysis of market trends in each sub-segment from 2019 to 2030.
There was a massive decline in the construction, aerospace and automotive sectors due to this pandemic. 2022 Reportsanddata. Ceramics segment is expected to register a faster revenue CAGR during the forecast period, due to growing demand for large-volume manufacturing of high precision components produced with technical ceramics. A slight COVID-related downtick in 2020 has given way to increased adoption due to technological improvements and increasing economies of scale. This is not the case with the use of additive manufacturing. Some of the major driving forces for this market include ease of development of custom products and financial support from governments for additive manufacturing. The largest market for additive manufacturing in medicine is dentistry and related orthodontics, such as bridges, crowns, braces, and dentures. What are some restraints for growth of the global additive manufacturing market? In terms of region, the global additive manufacturing market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The global metal additive manufacturing market size was valued at US$ 2.54 billion in 2021 and it is expected to reach around USD 11.45 billion by 2030 and growing at a CAGR of 18.21% from 2022 to 2030. Quarterly reports on the metal and polymer AM markets are available as a one-time or subscription purchase via SmarTech's website and are customizable as needed. The COVID-19 outbreak is hampering the demand for additive manufacturing in many applications. Due to an increasing demand for electronics the hardware production has also increased. The technology enables companies to be less dependent on tooling and casting by allowing the creation of prototypes that do not require either of them, which is expected to drive revenue growth of the segment.
In terms of revenue, the market in Europe is anticipated to expand significantly during the forecast period. In November 2021, Stratasys Ltd., a leader in polymer 3D printing solutions, 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. On the basis of the types the selective laser melting segment is expected to grow well during the forecast period. Additive manufacturing is widely used in the dental industry to develop accurate and tailored solutions for dental problems. When typing in this field, a list of search results will appear and be automatically updated as you type. Europe is a highly attractive region of the global additive manufacturing market, followed by North America and Asia Pacific. Followed by the North American market the Latin American market is also expected to be the fastest growing market for the global metal additive manufacturing. The third largest market for the global metal additive manufacturing is the European market. NEW YORK, April 6, 2022 /PRNewswire/ --The fourth quarter of 2021 capped a strong year for additive manufacturing markets, according to SmarTech Analysis. This procedure can also be done with the help of metal powders and raisins contrary to the traditional plastic filament. However, issues related to material availability, cost, quality, development and validation, standardization and characterization, and lack of standardized equipment and process control are certain restraints that are expected to restrict market revenue growth to some extent. SmarTech Analysis, a division of 3DR Holdings, publishes reports on revenue opportunities in the 3D printing/additive manufacturing sector and is considered the leading additive manufacturing industry analyst firm.
Due to an increase in the demand for consumer electronics the market is expected to grow. North America is also a key region of the global additive manufacturing market. Selective laser melting is a manufacturing technology that makes use of laser to fuse the powdered materials into various 3 dimensional objects. The costs for setting up a machine tool or changing tools on an injection molding machine must be distributed over the number of parts produced in the production batch until the next set up. During the lockdown, companies revamped their manufacturing strategies and adopted modernized systems for production, and post lockdown, they started reorganizing their business strategies and invested in those countries that were expected to witness higher growth. Participation of small companies in additive manufacturing is anticipated to provide lucrative opportunities to the additive manufacturing market. Specific to Metals, the market grew 16 percent, to $3.9B. Wide application of additive manufacturing across different sectors is driving market revenue growth. Which factors are expected to drive adoption of additive manufacturing? Stereolithography is currently used to join metal and ceramic powder via sintering, which is expected to drive segment revenue growth. 3D printed surgical cutting and drilling tools, prosthetics, artificial organs, and designer drugs are other applications of additive manufacturing, which have huge potential to drive market growth during the forecast period. The most common use of metal additive manufacturing is to produce the components that can be useful for the aircraft or the spacecraft. Increase in demand for additive manufacturing is attracting the global players to include additive manufacturing in their product offerings. The Asia Pacific market is estimated to have the significant growth in terms of revenue. ", SmarTech's "Core Metals" and "Core Polymers" market data products include four years of historical quarterly data and provide 10-year forward forecasts. Automotive segment was the leading segment in the global additive manufacturing market on the basis of application in 2021. Due to an increase in the demand for consumer electronics the market is expected to grow. Reports and Data is a company of individuals who passionately seek to provide the world with an understanding that evolution is part of the natural feature and process that ushers in radical changes in ways things would otherwise function in a regular process. The electron beam melts the material with the support of high energy electrons which provide penetration depth in order to melt the deepest layers at a single shot.
New product lines and system updates from 3D Systems, Additive Industries, Renishaw, and others will all likely come to market in early 2022 to reenergize the competitive landscape and provide prospective users with even more opportunities to leverage AM to create value in their organizations, Two end user markets stood out in particular in terms of AM adoption during 2021, especially during a year of numerous ongoing challenges with supply chain delays and disruptions. There is a micro structural control over all elements which are used for creation and designing of implant. Additive manufacturing can be defined as a procedure of creating objects from a 3D model array with the help of additive materials. Throughout 2021, progress was made in dozens of standards development projects, and in the fourth quarter alone several key publications -such as the ASTM International F3529 standard for material extrusion -were announced and will pay dividends in terms of growth in the short term, A number of key product refreshes in the metal powder bed fusion segment throughout 2021, and especially in the fourth quarter coinciding with the Formnext tradeshow, will also prove to capitalize on the forward momentum and interest in additive technologies in post-COVID corporate manufacturing strategy. Using plastics in additive manufacturing allows for low-volume plastic part production without a mold, easier and faster design iteration and modification, and accelerated lead time, along with mass customization or mass personalization. Stereolithography segment accounted for largest revenue share in 2021 and is expected to register a faster revenue CAGR during the forecast period. Kindly, let us know if you are interested), No cookie-cutter, only authentic analysis take the 1st step to become an Precedence Research client. The growth rate for all additive hardware, materials, software and outsourced services is estimated to be 18 percent (to $10.6B) for 2021 compared to the same period in 2020. Apart from the selective laser melting segment the electron beam melting segment is also expected to grow well during the forecast period. Which are the driving factors of the metal additive manufacturing market? Therefore it helps in removing the space needed for warehouses, personnel and the space needed for obsolete parts extremely easy to recreate and optimize the legacy parts required in any industry. In conventional manufacturing technologies, fixed costs are only allocated to a specific component design. Selective laser melting is a good process which helps in creating high resolution and low volume parts. Engage with us to know what more is there for your CXOs. The metal power bed fusion technology is largely used in the present times for additively manufacturing high performance components. Due to the increased industrialization and increasing demand for the automotive industries in countries like Japan, China, India and South Korea the market is expected to grow. Initiatives taken by market players are driving growth of the market. There are many different types of technologies which are used in the metal additive manufacturing systems. Julie there is a requirement for a mold in order to manufacture about thousands of products of a single kind. Rise in investments by various international companies in additive manufacturing is driving the additive manufacturing market in the region. However, the application landscape is shifting towards mass production, and so it is becoming increasingly important to reduce costs for items, such as manual labor, through integration. These were the dental market, and markets for consumer goods. For example, in healthcare industry, 3D data obtained from scans are used to manufacture 3D printing models, which allows surgeons to practice intricate surgical techniques on realistic models, along with enabling them to be more precise and operate faster. It is also used in the formation of various geometrical figures which are extremely difficult or impossible to construct with the help of the conventional technologies. The pandemic has negatively impacted the demand and supply chain of additive manufacturing materials. Various benefits are offered by the metal additive manufacturing over the traditional metalworking methods.
The global additive manufacturing market was valued at USD 12.53 Billion in 2021. Furthermore, support provided by governments in countries in the region to adopt additive manufacturing technologies on a large scale to develop modern infrastructure, in order to promote sustainable growth and reduce input costs, is expected to drive market revenue growth in Asia-Pacific. Governments of various countries are helping companies, which are installing modern technologies for sustainable growth and better infrastructure, by providing them subsidies and including substantial amounts of money in budget expenditure for this purpose. Read our Privacy Policy. This is another type of additive manufacturing process where the metal powder bed fusion process takes place. This will hamper the sales and loyalty of the consumers. Mergers and acquisitions by many companies in developing countries such as India, Brazil, and Thailand are expected to act as opportunities for the additive manufacturing market. The global additive manufacturing market is fragmented with the presence of large number of small companies. Only the top layer it's printed by the SLA prints. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. Additive manufacturing can bring digital flexibility and efficiency to manufacturing operations, as it uses computer-aided-design (CAD) software or 3D object scanners to direct the hardware to deposit material, layer upon layer, in precise geometric shapes. All Rights Reserved, Tertiary-Butyl Methacrylate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026, Volatile Organic Compounds Recovery System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025, Knitting Oils Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027, Chemical Licensing Market - Global Industry, Analysis, Size, Share, Growth, Trends, and Forecasts 2021-2031, Isocetyl Alcohol Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027. Adoption of metal additive manufacturing is growing in many developing as well as the developed nations in a large range of industries across these countries including the military. Copyright Transparency Market Research. The global market for additive manufacturing is expected to be influenced by the technological advancements in the field as well as developments in the materials used in the market. Previously, due to lockdowns across the globe, factories were shut temporarily to prevent spread of the coronavirus. Affordable industrial quality printers are the common materials used. SmarTech analysis and its data drives strategy development in the additive industry.