Hybrid Additive Manufacturing Market Size, Share & Trends Analysis Report By Material (Titanium, Aluminum, Steel, Nickel), By End Use (Aerospace, Medical), By Region, And Segment Forecasts, 2020 - 2027

Report Overview

The global hybrid additive manufacturing market size was valued at USD 80.5 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 14.8% from 2020 to 2027. Growing penetration of additive manufacturing in aerospace applications is likely to remain a key factor contributing to the growth of the market. Aircrafts components are normally made using short-run manufacturing and in such cases, additive manufacturing provides an improvement in production rate. It also helps to produce complex parts, which are lightweight and more resilient compared to products made from traditional techniques. Increasing manufacturing activities in the aerospace and automotive industries in the U.S. is likely to drive the North American market over the coming years. Expansion of healthcare facilities and the growing healthcare budget in the country are also projected to remain the key factors in the expansion of the market.

Hybrid additive manufacturing technology offers benefits of both additive and subtractive processes on a single machine. This technology helps to overcome various issues in traditional manufacturing methods, such as low production rate, inaccurate dimensions, and limited maximum build size of components.

In the automotive sector, traditional additive manufacturing or 3D printing requires longer production time. Combining additive manufacturing with a subtractive process can assist in lowering production time and manufacturing precise components with high quality of surface finish. Globally, the automotive sector manufactures a large volume of vehicles and requires numerous auto components. This is projected to offer numerous opportunities for market vendors over the coming years.

Material Insights

Titanium held the largest revenue share of 38.0% in 2019 and is projected to expand at the fastest CAGR from 2020 to 2027. Increasing penetration of medical implants is projected to create new sales avenues for market vendors. Hybrid manufacturing has the potential to adjust the degradation rate for medical implants. This can assist in reducing the long term complications due to the implants.

Aluminum accounted for the second-largest revenue share in 2019 and is projected to witness lucrative growth over the coming years. The industrial and scientific sectors are likely to benefit from the manufacturing of complex and lightweight structures with improved functionality. Aluminum is a key material that assists in the weight reduction of various industrial components.

Investments in the development of new alloys of metals are projected to have a key impact on the expansion of the market. For instance, Rusal, a Russian aluminum company, is working on the development of 3D printing scandium-aluminum alloy for the shipbuilding industry. The company has also signed an agreement with Sauer GmbH for the development of 3D printing technology using aluminum and aluminum alloys for the automotive, aerospace, and industrial machinery sectors.

End-use Insights

Based on end use, the market has been segmented into aerospace, tooling and mold, medical, and others. Aerospace emerged as the largest segment with a share of 51.8% in 2019 and is likely to maintain its lead during the forecast period. The growth of the segment is attributed to the early adoption of 3D printing by the aerospace sector and low volume manufacturing and prototyping of complex parts.

The medical segment is projected to expand at a lucrative CAGR of 15.0% from 2020 to 2027. Hybrid machine tools with additive and subtractive processes have immense potential in the manufacturing of biodegradable medical implants. Various research institutes and universities are working on the elimination of second surgery of permanent implants. Biodegradable plants don’t require second surgery as they can dissolve over a particular period.

In 2018, Optomec, a U.S.-based company, introduced a new hybrid 3D printing machine for the medical sector. This machine is likely to be used for the manufacturing of dissolvable magnesium medical implants. The machine is capable of producing high quality and affordable products with its higher laser power support.

Regional Insights

North America dominated the market for hybrid additive manufacturing with a share of 40.4% in 2019. Presence of numerous aerospace OEMs and its component manufacturers is likely to attract significant demand for 3D printed metal parts over the coming years. In recent years, the region has also witnessed an increase in the number of hybrid additive printer providers.

Asia Pacific is projected to emerge as the fastest-growing regional market over the coming years. The growth in the region is attributed to growing penetration of 3D printing in China and Japan. Expansion of the aerospace sector and increasing investments are also likely to remain key factors contributing to the regional growth market. For instance, as per the Indian government, foreign companies invested nearly USD 257.5 million from 2014 to 2019 in the aerospace and defense sector of the country.

Europe is projected to expand at a compound annual growth rate of 14.9% from 2020 to 2027. Various government funding projects have positively impacted the growth of the market in the region. For instance, the EU’s Horizon 2020 Program supported LASIMM project, which was aimed to develop a robotic system capable of additive manufacturing.

Key Companies & Market Share Insights

Market vendors are focused on the development of new hybrid printing machines, specifically focused on various end uses. Raw material suppliers are projected to focus on the expansion of advanced and lightweight alloys. The market players are continuously involved in the research and development in order to gain a higher production rate from novel technologies in minimum span of time, high-efficiency rate, and lower operational cost. Some of the prominent players in the global hybrid additive manufacturing market include:

• Materialise NV

• Hoganas AB

• Arcam AB

•  Renishaw PLC

•  3D Systems Corporation

•  GKN PLC

•  Sandvik AB

Hybrid Additive Manufacturing Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global hybrid additive manufacturing market report based on material, end use, and region:

• Material Outlook (Revenue, USD Million, 2016 - 2027)

  • Titanium

  • Aluminum

  • Steel

  • Nickel

  • Others

• End-use Outlook (Revenue, USD Million, 2016 - 2027)

  • Aerospace

  • Tooling and mold

  • Medical

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

  • Europe

    • Germany

    • Spain

  • Asia Pacific

    • China

    • Japan

  • Central & South America

  • Middle East & Africa