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This Additive Manufacturing Market report gives description about the complete market analysis with inputs from industry experts. A comprehensive analysis of the market structure along with the forecast of the various segments and sub-segments of the market have been delivered through this market research report. This market report puts light on various aspects of marketing research that range from important industry trends, market size, market share estimates, sales volume, emerging trends, product consumption, customer preferences, historic data along with future forecast and key player analysis. Additive Manufacturing Market is the most promising market research report which has been structured in the way you anticipate.
The Additive Manufacturing Market report includes data on patterns and improvements, target business sectors and materials, limits and advancements. It is an organized method to bring together and document information about the industry, market, or potential customers. The report offers market size, industry growth, share, development trends, product demand, investment plans, business idea, forecasts to 2029 and more. This market analysis helps to get up to date about various segments that are relied upon to observe the rapid business development amid the estimate forecast frame. The Additive Manufacturing Market report analyzes many aspects that help businesses to get the answers for the toughest questions.
Data Bridge Market Research analyses that the additive manufacturing market was valued at USD 15.27 billion in 2021 and is expected to reach USD 104.98 billion by 2029, registering a CAGR of 27.25% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Global Additive Manufacturing Market, By Material (Plastic, Metals, Ceramics), Material Type (Homogeneous Materials, Heterogeneous Materials), Technology (Stereolithography, Fused Deposition Modeling, Laser Sintering, Other Technologies), End User (Aerospace and Defense, Automotive, Healthcare, Industrial, Other End Users) – Industry Trends and Forecast to 2029.
In April 2021, EnvisionTEC stated that a clinical trial of the EnvisionTEC 3D printed Nasopharyngeal (NP) Swabs for COVID-19 testing had been completed. EnvisionTEC, along with a large number of its Envision One cDLM clients who have also registered with the FDA to participate in this endeavour, has the capacity to generate up to a million of the vitally needed swabs every day.
Global Additive Manufacturing Market Analysis and Size
The market for additive manufacturing is estimated to increase rapidly over the forecast period. In comparison to traditional manufacturing methods including injection molding, CNC machining, and vacuum casting, additive manufacturing provides various advantages, such as a lower resource demand, a shorter production cycle, flexible design, and significant tooling cost savings. The market is finally moving into production after more than 25 years of development. Businesses across the value chain in various industries will attempt to capitalize on this fast-paced market over the projected period. Different metals with diverse beneficial qualities, such as titanium, steel, nickel, aluminium, and cobalt alloys, are utilized to produce high-performance parts, particularly in the aerospace industry.
Competitive Landscape and Additive Manufacturing Market Share Analysis
The Additive manufacturing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to additive manufacturing market.
Global Additive Manufacturing Market Definition
3D printing, also known as additive manufacturing, is a revolutionary technique to industrial production that allows for the creation of lighter, stronger parts and systems. Because it uses computer-aided design (CAD) software or 3D object scanners to command the hardware to deposit material, layer by layer, in precise geometric patterns, additive manufacturing can provide digital flexibility and efficiency to manufacturing operations.
Because additive manufacturing technologies have lower production costs than traditional manufacturing processes, they can be cost-effective. Fixed costs are exclusively attributed to a single component design in traditional manufacturing technologies. There are some fixed expenses associated with additive manufacturing, but these costs can be more easily compensated by the number of diverse items that can be created in a single batch. As a result, additive manufacturing is more cost-effective than traditional manufacturing, which is one of the primary drivers driving market revenue growth.
When compared to other traditional manufacturing processes, the fundamental physical difference in how items are manufactured with the additive manufacturing process generates several key functional distinctions. The capacity of additive manufacturing to build complicated geometries that would be difficult or impossible to achieve using traditional manufacturing processes is the most significant of these functional changes. These complex geometries are also more durable and lighter than standard geometries. The ability of additive manufacturing to construct complicated geometries more easily than conventional production technologies has fueled its growth.
Furthermore, the development of new and improved technologies and materials will be a major factor influencing the growth of the additive manufacturing market. Along with this, increasing urbanization and rising level of government funding are the driving factors accelerating the growth of the additive manufacturing market. Also, the increasing expenditure on healthcare infrastructure is the major market drivers that will further escalate the growth of additive manufacturing market. Other significant factors that will cushion the additive manufacturing market’s growth rate are the customization of products and bulk production.
Moreover, the rising development of new supply chain models will provide beneficial opportunities for growth in additive manufacturing. Along with this, the expiry of key patents will influence the market’s growth rate by creating various market opportunities in coming years.
Moreover, growing number of strong mergers and acquisitions and increase in the number of emerging markets will further provide beneficial opportunities for the additive manufacturing market growth during the forecast period.
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Restraints/Challenges Global Additive Manufacturing Market
However, dearth of software efficiency will impede the additive manufacturing market’s growth rate. The entire process of customer-specific additive manufacturing is primarily manual, and this manual labour is justifiable to some extent in early Additive Manufacturing use cases (AM). It was not essential to tightly integrate the 3D printer into supporting software solutions in prototype because the number of components produced was small and there was little need for comprehensive data collection.
Even if additive manufacturing could significantly improve production speed and volume, it would still be impossible to produce huge single items. This is another key obstacle that additive manufacturing researchers must overcome as they seek new uses for the technology. Because existing additive manufacturing processes have a restricted construction envelope, even larger components that can be printed must still be connected using mechanical joining or welding.
On the other hand, the lack of standardization equipment and process control will challenge the additive manufacturing market. Additionally, issues with the availability as well as cost of additive manufacturing will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
This additive manufacturing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market.
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COVID-19 Impact on Additive Manufacturing Market
The growth of the additive manufacturing market had been hampered by COVID-19. Previously, factories were forced to close briefly owing to global lockdowns to prevent the spread of the coronavirus. Companies redesigned their manufacturing methods and embraced contemporary production techniques during the lockdown, and after the lockdown ended, they began rearranging their business strategies and investing in nations that were predicted to grow faster. New businesses in a variety of industries have begun to use additive manufacturing technologies on a large scale to manufacture a variety of products. Governments in several nations are assisting businesses who are using contemporary technology for long-term growth and improved infrastructure by offering subsidies and allocating significant funds to this goal in their budgets. Rising demand for additive manufacturing from the healthcare, automotive, and military sectors is likely to fuel market revenue growth during the forecast period.
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Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The additive manufacturing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for additive manufacturing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the additive manufacturing market. The data is available for historic period 2010-2020.
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