The global additive manufacturing market is expected to gain significant demand during the forecast period. The major factor driving the market is increasing the demand for 3D printing from industries such as automotive, dental, manufacturing, and healthcare.
Additive manufacturing is also known as 3D (three dimensional) printing and 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.
Additive manufacturing refers to processes used to synthesize a 3D object wherein successive layers of material are formed under computer control to create an object. The object can be of almost any shape or geometry and is produced from digital model data (3D model) or another electric data source such as Additive Manufacturing File (AMF) file. The size of the market is expected to grow at the highest CAGR in the forecast period.
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.
The increasing demand for functional food in developing countries such as India among others is anticipated to broaden options for different manufacturing companies as new entrants in the additive manufacturing market.
The next generation automobile concepts such as driverless technologies, electrification, and the societal shift in perception of mobility with 3D printed automobile production are driving the market further.
The positive growth due to mergers and acquisitions by many companies in developing nations such as India, China, Brazil, and Thailand among others is expected to act as winning imperative for the additive manufacturing market globally.
Additive Manufacturing Market by End use industry Type: Automotive, Manufacturing, Healthcare, Dental, Others
Additive Manufacturing Market by Material Type: Plastic, Metal alloy, Rubber, Others
Additive Manufacturing Market by Geographical Region: North America, Latin America, Eastern Europe, Western Europe, and Asia Pacific.
The growth of industry verticals such as automotive, healthcare & manufacturing is fueling the growth of the additive manufacturing market in the Asia Pacific region excluding Japan, Western Europe, and North America.
The major market key players include Arcam AB, Stratasys Inc., Greatbarch Inc., Biomedical Modeling, Inc., Eos GmbH Electro Optical Systems, Envisiontec Gmbh, GPI Prototype and Manufacturing Services, Inc., Morries Technologies Inc., Sirona Dental System, and SLM Solutions GmbH among others.
The report has been compiled through extensive primary research, a separate analysis of prevailing trends in the parent market, macro and micro economic indicators, and regulations and the study.
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