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Additive manufacturing, also called 3D printing, is the process of creating a three-dimensional object from a computerized 3D or CAD model. As the name implies, additive manufacturing involves the layer-by-layer addition of materials to create an item.
New York, July 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Additive Manufacturing Market Size, Share & Industry Trends Analysis Report By Printer Type, By Technology, By Component, By Application, By Material, By Vertical By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06289206/?utm_source=GNW Metal powders, polymers, and ceramics are examples of these materials. By machining, cutting, casting, molding, processing, and other subtractive fabricating techniques, additive manufacturing can supplement and sometimes replace traditional methods for creating products. The object is designed using CAD (Computer-Aided Design) programming or by scanning the item to be manufactured in additive manufacturing. The product can convert the scan into a precise structure that the 3D printing machine can follow layer by layer. In order to take advantage of AM’s inherent advantages, it’s vital to quantify the basic characteristics in comparison to traditional approaches. The need for design tools geared especially to relevant technical as well as economic aspects of additive manufacturing is identified as a result of this understanding. Another important feature of additive manufacturing is its potential to manufacture pieces that would not be feasible with standard production methods. A lattice structure, for example, can assist manufacturers in designing an object that is lighter and consumes less material than a solid. Traditional means of production, such as casting and milling, are not well-suited to creating those delicate lattices. Parts may not cleanly exit molds. When the material is removed from various directions, milling costs increase. This cost can be saved by leveraging the additive manufacturing approach. The execution of additive manufacturing is comprised of several processes, such as delivering deployment services, providing consultation solutions as well as customer support, and managing numerous factors related to licensing, copyrights, and patenting. In addition, it can also aid manufacturers in designing the final product and structure, prototyping, modeling, and reducing the time to the market. Resultant, the expenses that are occurred in the production process have been significantly reduced which has strengthened the position of delivering more precision in the final good at affordable prices. Hence, the adoption of these devices is estimated to surge owing to their benefits. Moreover, additive manufacturing also has various distinct benefits. In the traditional manufacturing technique, there is a requirement of significant investment along with a lot of time that can only be recovered by very high-volume production. However, with the advent of the additive manufacturing technique, several phases of the supply chain are majorly accelerated. The speed at which a single part can be obtained becomes much faster as the consumer can send a design directly through their computer systems to a 3D printer. COVID-19 Impact The COVID-19 epidemic has had a significant impact on the world economy and, as a result, the additive manufacturing business also suffered a downfall. Lockdowns and limitations on the movement of people and products enforced by many governments throughout the world to stop the spread of the coronavirus often disrupted the logistics and the supply chain, caused a labor shortage, and hampered the manufacture of additive manufacturing printers. These restrictions and lockdowns slowed the market’s expansion significantly. Market Growth Factors Facilitates the production of complex designs 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 challenging 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. Custom hearing aids, dental mouth guards, prostheses, and orthotics, for example, can all benefit patients’ quality of life and medical performance. Offers a cost-effective manufacturing process When manufacturing organizations use additive manufacturing processes to create items, they receive a variety of benefits. Additive manufacturing is appropriate for low-cost manufacturing as well as small and large series since the sophistication of the element has little or no effect on the manufacturing costs and time. Changes to the design can be made rapidly and at a very reasonable cost. In contrast to subtractive methods, like chemical etching and metal structures, are built atom by atom in additive manufacturing. As a result, practically every piece of metal is used during the manufacturing process, resulting in little material waste and reduced waste. All of the supplementary elements that are required for assembly, like brazing, fasteners, or welding, can be removed when using additive manufacturing. Market Restraining Factors Challenges in manufacturing large individual parts Although additive manufacturing could significantly improve production speed and volume, it would still be impossible to produce large individual items. This is yet another significant challenge that additive manufacturing experts face as they seek new applications for the technology. Because existing additive manufacturing technologies have a restricted construction envelope, even larger items that can be printed must still be connected using mechanical joining or welding. Academia, government, and commerce are all facing significant challenges in leveraging the capabilities due to this barrier. Printer Type Outlook Based on Printer Type, the market is segmented into Industrial 3D Printer and Desktop 3D Printer. In 2021, the desktop 3D printed segment recorded a significant revenue share of the additive manufacturing market. Hobbyists and small businesses were the first to use desktop 3D printers. Desktop 3D printers, on the other hand, are rapidly being used for home and household uses. Desktop 3D printers are also being empolyed in educational institutes, schools, and universities for technical instruction and research. Small companies are more likely to use desktop 3D printers and broaden their operations to include additive manufacturing as well as other related services. As a result, demand for desktop printers is predicted to increase during the forecast period. Technology Outlook Based on Technology, the market is segmented into Stereolithography, Fuse Deposition Modeling, Selective Laser Sintering & Direct Metal Laser Sintering, Polyjet Printing & Inkjet Printing, Electron Beam Melting & Laser Metal Deposition, Digital Light Processing, and Laminated Object Manufacturing & Others. In 2021, the Stereolithography segment witnessed the largest revenue share of the additive manufacturing market. Stereolithography is one of the most traditional and widely used printing techniques. Apart from its ease of use, stereolithography has a number of other advantages that are driving its adoption. In addition, the technique for manufacturing is majorly being utilized in several small and medium enterprises due to its affordability. This factor is playing a major role in driving the growth of this segment. Component Outlook Based on Component, the market is segmented into Hardware, Software (Design, Printer, and Scanning & Inspection), and Services. In 2021, the services segment registered a substantial revenue share of the additive manufacturing market. The expanding application portfolio of additive manufacturing across numerous industries and industry verticals, as well as the increased use of quick manufacturing methods such as rapid prototyping, are likely to drive demand for additive manufacturing services. Application Outlook Based on Application, the market is segmented into Prototyping and Tooling & Functional Parts. In 2021, the prototyping segment registered the highest revenue share of the additive manufacturing market. The prototype technique is widely employed across a variety of businesses and verticals. Prototyping is used extensively in the automotive and aerospace and military industries to precisely design and build components, parts, and complex systems. Manufacturers can experience improved accuracy and manufacture more reliable end-products by prototyping. As a result, the growth of this segment is estimated to surge in the forecast period. Material Outlook Based on Material, the market is segmented into Metal, and Polymer & Ceramic. In 2021, the polymer & ceramic segment held a significant revenue share of the additive manufacturing market. Although ceramic additive manufacturing is a relatively new technique, market players are conducting R&D initiatives for AM technologies like inkjet printing and FDM, which are boosting the demand for ceramic AM. Using the AM approach, businesses can build complex, delicate parts more quickly and with greater precision and accuracy. Furthermore, improved material utilization allows manufacturers to considerably lower their production costs. Hence, the growth of this segment is being augmented due to this. Vertical Outlook Based on Vertical, the market is segmented into Automotive, Consumer Electronics, Aerospace & Defense, Educational Purpose, Healthcare & Dental, Fashion & Jewelry, Power & Energy, Food, and Others. In 2021, the automotive segment acquired the highest revenue share of the additive manufacturing market. The rising growth of the segment is attributed to the increasing adoption of additive manufacturing in the automotive industry. Additive manufacturing in the automotive industry allows the fabrication of components without the use of tools, lowering production and development costs. Parts produced by the repeatable additive process can be fitted immediately in serial manufacturing vehicles. Regional Outlook Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, North America dominated the additive manufacturing market. The United States and Canada are two developed economies in North America. These countries are known for being innovators and early adopters of new technologies. Market players across this region are rapidly adopting several new technologies in order to boost their production while also saving significantly on cost. This factor is driving the growth of the regional market. The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Canon, Inc. and Autodesk, Inc. are the forerunners in the Additive Manufacturing Market. Companies such as 3D Systems Corporation, Materialise NV, Stratasys, Ltd., are some of the key innovators in the Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3D Systems Corporation, Autodesk, Inc., Canon, Inc., Materialise NV, EnvisionTec, Inc., General Electric (GE) Co., Voxeljet AG, Redwire Corporation, and Stratasys, Ltd. Recent Strategies Deployed in Additive Manufacturing Market Partnership, Collaboration and Agreement: Mar-2022: 3D Systems came into an agreement with Dussur, a Saudi government company. Following this agreement, the companies aimed to expedite the regional adoption of additive manufacturing intending to allow diversification of the Saudi Arabian economy and offer a robust foundation across the Kingdom to increase local manufacturing and engineering and augment green energy sources. Jan-2022: Materialise came into a partnership with Sigma, a leader in developing quality assurance software. Under this partnership, the companies would develop Materialise Control Platform, which comprises the ability to be retrofitted to prevailing 3D printers to enhance manufacturing processes. In addition, it can also be provided as an add-on to new machines for metal AM. Nov-2021: Voxeljet partnered with Covestro, a materials company. Following this partnership, the company aimed to develop material-machine integration for economic large series additive manufacturing. Sep-2021: EnvisionTEC teamed up with Covestro, a producer of polyurethane and polycarbonate-based raw materials. With this collaboration, the company aimed to enable 3D printing tooling applications to facilitate the market entry for companies seeking to leverage 3D printing for the manufacturing of molds for parts with detailed functions. Jul-2021: Stratasys partnered with Tata Technologies, a company in the Tata Group. Through this partnership, the companies aimed to commercialize additive manufacturing technologies across the Indian manufacturing ecosystem in order to propel the growing adoption of additive manufacturing in the Indian market. Jun-2021: Voxeljet came into a partnership with AGC Ceramic, a glass, ceramics & concrete company. Under this partnership, the companies would introduce Brightorb high-performance ceramic material for Additive Manufacturing. In addition, this integration would enable the optimization of VX1000 for ceramic powder in close cooperation. Apr-2021: EnvisionTEC signed a materials distribution agreement with Adaptive3D, a leader in elastomeric solutions. Under this partnership, the companies would integrate the capabilities of ToughRubber photoresins with the effectiveness of Xtreme 8K digital light processing printers intending to accelerate the adoption of additive manufacturing solutions for functional end-use elastomeric parts and products. Feb-2021: GE Additive came into a partnership with Wichita State University’s National Institute for Aviation Research. This partnership aimed to expedite the adoption of metal additives within the military and aerospace and defense industrial base for supporting rapid qualification and certification, common practices, and the development of a mutual database for AM knowledge and data. Product Launch and Product Expansion: Feb-2022: Canon unveiled the compact MAXIFY GX5070 inkjet single-function printer, a new ink tank business printer into its GX Series lineup. The new product aimed to boost the productivity and efficiency of businesses along with all the end-users. In addition, the new product would also address the stylized printing, high volume, and archival demands of customers. Nov-2021: 3D System rolled out SLS 380. Through this launch, the company aimed to minimize operating costs for more efficient and effective digital manufacturing. In addition, the new product can easily manage eight separately calibrated heaters and it features an integrated high-resolution infrared camera with the ability to capture over 100,000 thermal data samples per second to monitor, control, and manage thermal uniformity within the built chamber. Nov-2021: GE Additive rolled out Amp, a cloud-based process management software platform. With this launch, the company aimed to offer tools required to manage, manufacture, and process metal additive parts on a single platform in a bid to offer a streamlined workflow that lowers trial and error and enhances part production. Oct-2021: Autodesk introduced a new smart-branching support feature in Netfabb. This product expansion would upgrade Netfabb’s compatibility with EOS’ M Series machines. Moreover, the upgraded solution would also be able to develop files for the systems by leveraging its newly-integrated SDK. Apr-2021: Stratasys launched H350 3D Printer, Stratasys Origin One 3D printer. This launch aimed to accelerate the migration from conventional manufacturing to additive manufacturing approaches for low-to-mid volume production applications Acquisition and Merger: Jan-2022: Materialise took over Link3D, SaaS-based solutions. Through this acquisition, the company aimed to expedite its production of Materialise Software Platform for Additive Manufacturing. Oct-2021: Stratasys acquired Xaar 3D, manufacturer of piezo-based drop-on-demand inkjet technologies. With this acquisition, the company aimed to expedite the growth of the company’s H Series Production Platform with the integration of Xaar 3D’s SAF technology-based printers into its portfolio. Feb-2021: Stratasys took over RP Support, a vendor of industrial stereolithography 3D printers and solutions. Through this acquisition, the company aimed to integrate complementary technology of RP Support in its offerings in order to expand Stratasys’ polymer line of solutions across the product life cycle. Jan-2021: Stratasys acquired Origin, a manufacturer of 3D printers. This acquisition aimed to provide advanced digital light processing-based digital light processing for production-oriented polymer applications. In addition, the company would also help Origin in achieving its vision of fortifying Origin’s position in polymer 3D printing. Geographical Expansion: Mar-2022: Canon expanded its geographical footprint in Pune with the launch of its exclusive PIXMA Zones in Tilak Nagar. Through this geographical expansion, the company aimed to complement its vision to expand its prevalence in the regional retail and strengthening its position in the consumer printing segment by serving a wider spectrum of consumers. Apr-2021: Materialise expanded its geographical footprint in Germany with the launch of its new 3,500 square meter Metal Competence Center for 3D Printing in Berlin. This geographical expansion would comprehend and expand Bremen-based metal 3D printing sites of Materialise under one roof in order to support integrated production and development. Feb-2021: 3D Systems expanded its geographical footprint in South Carolina by expanding the capacity of its facility in Rock Hill. Through this expansion, the company aimed to consolidate its materials manufacturing, logistics operations, and quality with new expanded materials development laboratories in order to enhance its operational efficiencies, lower the time to market, and expedite solution development. Scope of the Study Market Segments covered in the Report: By Printer Type • Industrial 3D Printer • Desktop 3D Printer By Technology • Stereolithography • Fuse Deposition Modeling • Selective Laser Sintering & Direct Metal Laser Sintering • Polyjet Printing & Inkjet Printing • Electron Beam Melting & Laser Metal Deposition • Digital Light Processing • Laminated Object Manufacturing & Others By Component • Hardware • Software o Design o Printer o Scanning & Inspection • Services By Application • Prototyping • Tooling & Functional Parts By Material • Metal • Polymer & Ceramic By Vertical • Automotive • Consumer Electronics • Aerospace & Defense • Educational Purpose • Healthcare & Dental • Fashion & Jewelry • Power & Energy • Food • Others By Geography • North America o US o Canada o Mexico o Rest of North America • Europe o Germany o UK o France o Russia o Spain o Italy o Rest of Europe • Asia Pacific o China o Japan o India o South Korea o Singapore o Malaysia o Rest of Asia Pacific • LAMEA o Brazil o Argentina o UAE o Saudi Arabia o South Africa o Nigeria o Rest of LAMEA Companies Profiled • 3D Systems Corporation • Autodesk, Inc. • Canon, Inc. • Materialise NV • EnvisionTec, Inc. • General Electric (GE) Co. • Voxeljet AG • Redwire Corporation • Stratasys, Ltd. Unique Offerings • Exhaustive coverage • Highest number of market tables and figures • Subscription based model available • Guaranteed best price • Assured post sales research support with 10% customization free Read the full report: https://www.reportlinker.com/p06289206/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
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