Additive Manufacturing & Material market is projected to grow at a significant CAGR of 27.5% during the forecast period (2021-2027). Additive manufacturing or 3D printing is a transformative approach to industrial production that enables the creation of lighter, stronger parts and systems. This manufacturing uses data computer-aided-design (CAD) software or 3D object scanners to direct hardware to deposit material, layer upon layer, in precise geometric shapes.Powder Bed Fusion, Binder Jetting, Directed Energy Deposition, Material Extrusion, Material Jetting, Sheet Lamination, and Vat Polymerization are the major processes of additive manufacturing. 

The increase in demand for additive manufacturing & material in aerospace &defence, automotive, healthcare, and other industrial sectors are the key drivers for the growth of the global additive manufacturing & material. This is since the possibility of the customized manufacturing of parts has offered manufacturers to unlock new revenue streams in a variety of applications. Further, reduced prices of 3D scanners along with the availability of advanced raw materials including stainless steel powder have made major contributions to the market growth across the globe. Moreover, rising investments in R&D activities by government and manufacturingcompanies are estimated to propel the utilization of metals in additive manufacturing, thereby contributing to the market growth. However, high maintenances costs and high energy consumption are some factors that may restrict the growth of the global additive manufacturing & material market.

Segmental Outlook  

The Additive Manufacturing & Material market is segmented on the basis ofmaterial type and end-user. Based on the material type, the additive manufacturing &material market is segmented into plastic, metal, ceramic, and others. Plastic is anticipated to hold considerable share in the global additive manufacturing & material market based on material type. The wide scale usage of thermoplastic to manufacture a wide range of products used in different industries.  Based on end-user, the market is segmented into aerospace & defence, healthcare, automotive, education & research, and others. 

Aerospace & Defence to be Major End-User of Additive Manufacturing & Material

The aerospace industry has been one of the early adopters of additive manufacturing technology. Metal additive manufacturing facilitates aerospace designers to develop superior-quality parts without facing production feasibility, production delay, cost, or complexity restrictions. Looking towards the huge potential of additive manufacturing technology in the aerospace industry, the major aerospace industry players are actively involved in using additive manufacturing technology. For instance, EOS GmbH Electro Optical Systems and Airbus Group had collaborated to design titanium-based additive manufactured nacelle hinges that save 40% more fuel than their traditionally manufactured counterparts. Automotive industry is anticipated to exhibit considerable growth based on end-user. The considerable presence of various projects and initiatives aimed at bringing the advantages of this technology to automotive applications is a key factor driving the growth of this market segment.

Global Additive Manufacturing & Material Market Share by End-User, 2020 (%)

Regional Outlook 

The global additive manufacturing &material market is further segmented on the basis of geography including North America, Europe, Asia-Pacific and Rest of the World. North America is expected to hold considerable market share during the forecast period. The presence of key market players of the additive manufacturing & material market including ExOne GmbH, 3D Systems Corp., and Proto Labs, Inc.in the region have been propellinga catalysing agent tothe growth of the market. Rising investments from governments and private institutions in additive manufacturing are again playing a vital role in the development of the regional market.For instance, as per the Organisationfor Economic Co-operation and Development OECD, in 2019, the US Federal Government had invested $773 million in manufacturing technology R&D funds to promote new technology in the manufacturing sector. 

Global Additive Manufacturing & Material Market Growth, by Region 2021-2027

Asia-Pacific is anticipated to register significant growth in the global additive manufacturing &material market

The rise in demand for additive manufacturing & material in aerospace & defence, automotive, healthcare, and others industrial sectors are the key drivers of the regional market growth. The rising investments from governments and private institutions in additive manufacturing are again playing a vital role in the development of the regional market.

Market Players Outlook

3D Systems Corp., Proto Labs, Inc., Arcam AB (General Electric, Co.), Stratasys, Ltd., and Royal DSM N.V. among others are the major players operating in the global additive manufacturing & material market. These key market players are actively adopting strategic growth activities including mergers and acquisitions, partnerships and collaboration among others to increase their market share. The new product launches are the core strength of these key market players to remain competitive in the market. For instance, in June 2019, Proto Labs Inc., the digital manufacturing company had launched new production capabilities for its metal 3D printing service. The launched capabilities are based on the secondary processes for the improvement of strength, dimensional accuracy, and cosmetic appearance of metal parts to enable aerospace & medtech industry to enhance its performance by making cost reduction and supply chain consolidation.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global additive manufacturing & material market. Based on the availability of data, information related to the products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.