Knowledge Sourcing Intelligence launches the publication of a new report on “Additive Manufacturing Market – Forecasts from 2019 to 2026” to their giving.
The prime factor driving the growth of the Additive Manufacturing market is the growth in the usage of additive manufacturing techniques which provides an ease in the manufacturing of complex machines over traditional methods.
As per the report, the Additive Manufacturing Market is projected to grow at a CAGR of 18.12% to reach US$14,442.329 million by 2026, from US$4,501.665 million in 2019.
Additive manufacturing or additive layer manufacturing is the industrial name for 3D printing. It is a computer-controlled object by deposits materials, normally in layers. Additive manufacturing is said to be the future in the manufacturing sector owing to superior benefits over machine casting, injection moulding, or any other conventional methods. It employs computer-aided designs or digital printers that aid in the creation of geometric shapes and objects with utmost precision. Additive manufacturing also has many advantages over traditional methods such as lower cost of production, flexibility in design, faster production cycles, supports of new AI-driven design methods, lower prototyping, and storage cost. The additive manufacturing market is expected to grow at a fast pace which is primarily due to the growing usage of additive manufacturing techniques facilitating ease in the manufacturing of complex designs over traditional methods, hence this is fuelling growth in the additive manufacturing market. Moreover, additive manufacturing provides low production costs for the rapid manufacturing processes which are expected to expand business opportunities in the market over the forecast period. Additive manufacturing techniques are capable enough for providing a rapid production solution with minimum involvement. This is the reason many companies have adopted additive manufacturing techniques to develop face shiels, face masks, ventilators, and much more medical equipment.
Based on the material type, the additive manufacturing market is segmented into metals, ceramics, plastics. The primary metals used in the additive manufacturing process are Titanium, stainless steel, and aluminum. The Titanium metal is projected to propel growth by the end of the forecast period as it has high solidarity with weight proportion, inherent latency, other appealing aspects. Thus, Titanium is viewed progressively for the activities of additive manufacturing.
Based on the application, the additive manufacturing market is classified into aerospace, automotive, healthcare, consumer, and others. The aerospace sector is expected to hold a significant share in the additive manufacturing market by the end of the forecast period. Whereas, with the significant scope in the market for a biocompatible 3D printer for the development of surgical equipment, organs, tissues, and other patient-specific surgical requirements, the healthcare sector also is estimated to grow at a fast pace during the forecast period.
Based on the technology, the additive manufacturing market has been fragmented into Selective Laser Sintering (SLA), Laser Sintering (LS), Electron Beam Melting (EBM), Fused Disposition Modelling, and Stereolithography (SLA). Stereolithography is leading in the market share as it provides a significant advantage in the manufacturing process as it aids in facilitating cheaper, cost-effective, and efficient additive manufacturing solutions.
Based on Geography, the additive manufacturing market has been segmented in North America, South America, Europe, Middle East and Africa, the Asia Pacific. Owing to the advancement in technology and the adaptation of innovative methods, North America is projected to hold a significant share in the market during the forecast period. Additionally, the presence of key players in the market in North America further supplements the share during the forecast period.
As part of the report, the major players operating in the additive manufacturing market, that have been covered are 3D system cooperation, Desktop Metal Inc. EnvisionTEC, Siemens AG, Renishaw Plc, General Electric Company, Wipro Limited, EOC Gmbh, EXone Company, Materialise NV, EnvisionTEC.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/additive-manufacturing-market
This analytics report segments the additive manufacturing market on the following basis:
- By Material Type
- Stainless steel
- Silicon Carbide
- Acrylonitrile Butadiene Styrene
- Polylactic Acid (PLA)
- Polyvinyl Alcohol
- By Technology
- Selective Laser Sintering(SLS)
- Laser Sintering(LS)
- Electron Beam Melting(EBM)
- Fused Disposition Modeling
- By End-User Industry
- Aerospace Industry
- Health Care Industry
- Automotive Industry
- Construction Industry
- Consumer Industry
- Government and Defense Industry
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Asia Pacific
- North America