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Additive Manufacturing Market Size, Share, Trends and Revenue Forecast

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Prathamesh Wayal
Additive Manufacturing Market Size, Share, Trends and Revenue Forecast

The Additive Manufacturing Market is expected to reach USD 17.23 billion in 2023, and with a linear growth pattern, it is expected to reach USD 84.87 billion by 2033, with a CAGR of 21.65% between 2024 and 2033.


Additive manufacturing is an industrial production method utilized in a variety of industries, including automotive, aerospace, defense, and consumer electronics. Additive manufacturing involves creating an object one layer at a time. Typically, additive manufacturing refers to 3D printing. The rise of 3D printing and technical breakthroughs has underlined the significance of additive manufacturing techniques. Additive manufacturing is designed to rapidly scale the model of the final product without incurring the costs of building a prototype and a usual setup process. This reduces total manufacturing costs by encouraging faster production for end-user industries.


Additive manufacturing is used to create a prototype of an object based on a design. The design is created mostly by employing applications such as computer-aided design, software, or simply scanning an object that needs to be printed. Metals, polymers, ceramics, foams, gels, and biometrics are all examples of materials that can benefit from additive manufacturing.


Additive Manufacturing Market Segmentation

By Regional Scope

·       North America

·       Europe

·       APAC

·       South America

·       Middle East

·       Africa

Key Companies

·       Stratasys, Ltd.

·       Materialise NV

·       EnvisionTec, Inc.

·       3D Systems, Inc.

·       GE Additive

·       Autodesk Inc.

·       Made In Space

·       Canon Inc.

·       Voxeljet AG.  


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Growth Drivers

The decentralized and on-demand nature of additive manufacturing helps to improve supply chain resilience. Companies can lessen their reliance on centralized manufacturing sites while responding more efficiently to demand variations. Additive manufacturing follows Industry 4.0 principles, which include digitalization, automation, and data interchange. The seamless integration of additive manufacturing with smart manufacturing processes improves overall efficiency and flexibility.

Additive manufacturing has applications in a variety of industries, including automotive, aerospace, healthcare, consumer goods, and electronics. The extensive use across various sectors helps to drive the overall growth of the additive manufacturing industry.


Additive Manufacturing Market Regional Analysis

North America is the world's largest additive manufacturing market, accounting for about 40% of the total in 2022. The region's dominant market position is due to its strong industrial foundation and widespread adoption of Additive Manufacturing technology, particularly in the aerospace, automotive, and medical industries.


Europe is the second-largest market for Additive Manufacturing, with a market share of around 30% in 2022. The region's emphasis on technological innovation, as well as its diverse industrial environment, are helping to drive growth in the Additive Manufacturing sector.


The Asia Pacific area is the fastest-growing Additive Manufacturing market, with a projected CAGR of more than 20% in the next years. The region's fast industrialization and rising demand for customized products are driving its rise in the Additive Manufacturing industry.


The Middle East and Africa (MEA) area is a relatively modest Additive Manufacturing market, but it is projected to develop at a CAGR of more than 15% in the coming years. The region's expanding oil and gas industry, as well as increased usage of Additive Manufacturing technologies, are propelling it forward in the Additive Manufacturing market.


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South America is likewise a relatively modest Additive Manufacturing market, but it is predicted to expand at a CAGR of more than 12% in the future years. The region's expanding aerospace and automotive industries, as well as rising demand for customized products, are driving expansion in the Additive Manufacturing industry.


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Our firm understands that great business strategies are based on accurate and actionable data. That is why we specialize in conducting in-depth research and analysis across several industries, enabling our clients to identify market trends, assess demand and supply dynamics, and identify development opportunities.


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