Knowledge Sourcing Intelligence announces the publication of a new report on “Additive Manufacturing Market - Forecasts from 2020 to 2025” to their offering.
The growing recognition of benefits of lightweight materials, manufacturing lead-time reduction continuous research and development & industry-academia collaboration are the key factors that are driving the growth of this market.
According to the report, the Additive Manufacturing Market is expected to reach US$12,159.519 million by 2025, from US$ 4,501.665 million in 2019.
The growth of the additive manufacturing market is dependent on several factors as mentioned below
The particular term additive manufacturing refers to a procedure of producing objects from 3D models array another electric data source such as Additive Manufacturing File (AMF) file with the aid of additive material and encompasses the systems in play, technological procedures, and the variety of applications. The process of additive manufacturing (AM) enables the materialization of complex designs that are otherwise economically not feasible and/or impractical to produce through the traditional means of die casting, machining, milling, molds, among others. AM also has become renowned for enabling a design-driven process that is more dynamic and facilitates rapid prototyping by employing 3D CAD that also aids in the elimination of high costs associated with elaborate processes. Often monikered as the next industrial revolution in manufacturing, additive manufacturing is being considered the next new normal in manufacturing since its high potential to provide cost-effective means to attain the fruition of customized and complex medical parts and components like cranial and orthopedic implants as well dental orthopedics. Moreover, it also aids in producing human organs and tissues.
Another technology that falls within the ambit of additive manufacturing is that of Hybrid additive manufacturing technology which provides benefits of both subtractive and additive processes on a single machine, The advantage of this technology is that aides in the overcomes the various issues experienced during the traditional manufacturing processes which are inclusive of but not limited to constrained maximum build size of components, defective dimensions, and reduced production rate. To this, another end-use application that is poised to throttle the market to a new echelon during the forecast period is that of aerospace. To this end, it should be noted that normal practice adhered to manufacturing aircrafts components is short-run manufacturing wherein the integration of additive manufacturing, especially that of hybrid additive manufacturing improves the production rate. Moreover, in comparison with traditional techniques the parts manufacturing by employing additive manufacturing is lightweight and more resilient. Besides, with regards to automotive sectors, globally a large volume of vehicles is produced that necessitates a variety of automotive components. Thus, with the successful integration of this technology, multifarious vendors serving the automotive sectors are esteemed to be provided with a huge opportunity.
Updates on additive manufacturing market developments
Additive Manufacturing Material - Product Launch- In June, Constellium (NYSE: CSTM) which is a global sector leader in the development of value-added aluminum products that are innovative and are intended for a broad scope of markets as well as applications that include those of aerospace, automotive as well as packaging had reported announced the launch of Aheadd®, which is a new offering of high-performance aluminum powders that reportedly surpasses industry standards pertaining to the predictivity and components properties of additive manufacturing productivity and component properties. With this launch, the organization initiated an expansion of its advanced aluminum solutions portfolio. As of 2019, it was reported that the organization generated €5.9 billion in revenue.
Additive Manufacturing Machine – Product Launch – Again in June, DMG MORI. CO., LTD. (TYO: 6141) announced the launch of a laser additive manufacturing machine called LASERTEC 30 DUAL SLM that features a dual laser system and is essentially a powder-bed additive manufacturing machine which is reportedly installed with two 600 Watts powerful lasers. Each laser is enabled with a large scan field that covers the total build area. Further, both lasers are capable of attaining build rates of up to 90 cm³/h. Additionally, maximum precision is ensured by the focus diameters that range from50 µm to 300 µm. Besides the predictivity is reportedly boosted by 80% due to the improved scanning speed achieved by the means of simultaneous laser irradiation, which facilitated by the dual laser system.
As a part of the report, the major players operating in the additive manufacturing market which have been coveredare General Electric, DSM, EOS GmbH, Optomec, Inc., Renishaw Plc, Sciaky, Inc., Formlabs and Stratasys Ltd., among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/additive-manufacturing-market
In this report the additive manufacturing market has been segmented based on the following: