Additive Manufacturing Market

Additive Manufacturing Market Outlook (2024 to 2034)

The global additive manufacturing market size is pegged at US$ 26.79 billion in 2024, according to an industry analysis published by Fact.MR. Sales of additive manufacturing technologies are predicted to advance at a substantially high-value CAGR of 21.6% to reach US$ 189.34 billion by 2034-end.

Ongoing technological advancements taking place in 3D printing materials, printers, and processes are predicted to lead to the enhanced capabilities of additive manufacturing systems. In addition, the ability of additive manufacturing techniques to produce personalized and customized products is forecasted to stimulate their adoption in several industries, including aerospace (lightweight components), consumer goods (customized fashion and accessories), and healthcare (custom implants).

Additive manufacturing techniques allow quick iteration and rapid prototyping of designs, enabling on-demand manufacturing, which can be beneficial for several industries. Less amount of waste is generated through additive manufacturing techniques compared to conventional manufacturing methods to align with sustainability goals. They play a pivotal role in enabling decentralized manufacturing and smart factories.

• Sales of additive manufacturing solutions in North America are projected to rise at a CAGR of 21.8% and reach US$ 55.1 billion by the end of 2034.
• The hardware segment is forecasted to increase at 21.9% CAGR and reach a value of US$ 110.39 billion by the end of 2034.
• China is predicted to account for 57.3% share of the East Asia market by 2034.

Extensive application of additive manufacturing technologies in several industries, including healthcare, consumer goods, architecture, automotive, and aerospace is forecasted to contribute to the additive manufacturing market growth. Additive manufacturing techniques are an integral part of the Industry 4.0 paradigm, thus incorporating automation, connectivity, and digital technologies. They play a vital role in enabling decentralized manufacturing and smart factories.

Development of new materials that are more compatible with these custom manufacturing techniques is forecasted to attract additive manufacturing market trends.

Report Attributes	Details
Additive Manufacturing Market Size (2024E)	US$ 26.79 Billion
Forecasted Market Value (2034F)	US$ 189.34 Billion
Global Market Growth Rate (2024 to 2034)	21.6% CAGR
Demand Growth in Canada (2024 to 2034)	22.6% CAGR
Japan Market Value (2034F)	US$ 20.21 Billion
East Asia Market Share (2034F)	38.4%
Hardware Segment Value (2034F)	US$ 110.39 Billion
Medical Segment Share (2034F)	22.1%
Key Companies Profiled	Renishaw Plc. Wipro Limited Materialise ANSYS, Inc. Evonik Siemens Industry Software Inc. Stratasys Ltd. General Electric Xerox Corporation AMFG Mazak Corporation American Additive Manufacturing LLC Optomec

Why is There Exponential Increase in Demand for Additive Manufacturing Technologies?

“Increasing Demand for Complex Geometric Designs in Defense Equipment”

Currently, 3D printing techniques are not confined to some specific industries, including electronics, etc. The manufacturing of defense equipment is predicted to experience revolutionary changes with the adoption of 3D printing technologies in their production process. 3D printing technologies are becoming popular due to their ability to manufacture complex geometric with improved precision and great ease.

Adoption of additive manufacturing techniques in the production of armories and defense equipment is predicted to minimize the comprehensive cost of production. In addition, they can also speed up mass production of defense equipment. In recent years, the world has been witnessing several complexities of geopolitics. Some of these examples include Ukraine and Russia, Israel Palestine, and some others. These situations are predicted to promote direct or indirect investment in defense to safeguard citizens or maintain peace.

Some countries, including China, the United States, the United Kingdom, Russia, etc., are investing a noteworthy amount of their budget in defense research particularly for the incorporation of 3D printing in the production of defense equipment.

“Adoption of Industry 4.0 Technologies Leading to Precision in Electronics Production”

Industry 4.0 has led to the promotion of automation in several sectors of the global economy at a significant growth rate. The automation process is predicted to generate significant demand for electronic products around the world. However, increased demand for precision and short turnaround times in the production of several electronic products, including semiconductors and circuit boards, is projected to be a challenge for the electronics sector.

3D printing is predicted to emerge as one of the viable solutions to assist the electronic industry in overcoming these production challenges. At present, key electronic product manufacturers are dependent on additive manufacturing techniques to match the demand for low-quantity orders that too at competitive pricing. The emergence of cost-effective additive manufacturing solutions and the rising adoption of 3D printing solutions are forecasted to replace traditional manufacturing techniques.

What is Predicted to Limit Adoption of Additive Manufacturing Solutions?

“Higher Capital Investment Compared to Basic Production Procedures”

Despite several economic advantages related to additive manufacturing, certain drawbacks are predicted to adversely impact market growth opportunities. Additive manufacturing is a comparatively more expensive process in comparison to the basic production process of products. This is projected to limit the adoption of additive manufacturing techniques.

How are Start-ups Shaping This Business Landscape?

“Investments in Development of Low-cost 3D Printing Materials”

Start-ups are investing significantly in the development of low-cost 3D printing materials, which can be used in additive manufacturing techniques. In addition, advancements in technology along with aggressive R&D activities are also predicted to widen opportunities for start-ups going forward.

Country-wise Insights

A report by Fact.MR asserts that East Asia is forecasted to account for 38.4% share of the global market by 2034. This regional market is predicted to expand at a noteworthy pace owing to constant developments being pursued in the manufacturing sector. Further, East Asia is projected to emerge as a manufacturing hub for several industries, including consumer electronics, healthcare, and automotive.

Why are Providers of Additive Manufacturing Attracted to the United States?

“Growing Adoption of 3D Printing across the Country”

Attributes	United States
Market Value (2024E)	US$ 5.49 Billion
Growth Rate (2024 to 2034)	22.1% CAGR
Projected Value (2034F)	US$ 40.5 Billion

The United States is projected to account for 73.5% share of the market in North America by 2034. An increased installation of 3D printers in the country is predicted to lead to revenue generation for suppliers of additive manufacturing technologies. A significant number of American businesses are using 3D printing.

For instance:

• As per the 3D Printing Sentiment Index, published in 2021, more than 60% of businesses in America are predicted to relish 3D printing benefits.

Inclination toward 3D printing is forecasted to generate lucrative opportunities for suppliers, thus contributing to the expansion of the additive manufacturing market size in the United States.

Why are Additive Manufacturing Solutions Becoming Popular in China?

“Financial Aid from Government to Support Cutting-Edge Production Procedures”

Attributes	China
Attribute	China
Market Value (2024E)	US$ 5.5 Billion
Growth Rate (2024 to 2034)	22.4% CAGR
Projected Value (2034F)	US$ 41.66 Billion

China is projected to hold 57.3% share of East Asia market revenue by 2034. As a well-established industrialized country, China has embraced 3D printing with supportive measures taken by the central government. In addition, the industrial sector in China is forecasted to contribute significantly to the adoption of additive manufacturing techniques.

The majority of manufacturers in China are spending significantly on cutting-edge production procedures to maintain the country’s status as the popular hub of manufacturing in the region. These financial aids are predicted to contribute to noteworthy market growth in China.

Category-wise Insights

The hardware segment of the global market is predicted to exhibit rapid growth as a result of increased prototyping and expansion of the manufacturing sector, according to the research report published by Fact.MR, a market research and competitive intelligence provider. Constant advancements in hardware platforms used in additive manufacturing are predicted to supplement market growth.

Why is Additive Manufacturing Hardware in High Demand?

“Focus on Civil Infrastructure Development and Labor Cost Optimization”

Attributes	Hardware
Segment Value (2024E)	US$ 15.62 Billion
Growth Rate (2024 to 2034)	21.9% CAGR
Projected Value (2034F)	US$ 110.39 Billion

The hardware segment is forecasted to account for 58.3% additive manufacturing market share by 2034. A strong emphasis on manufacturing entities is predicted to lead to the adoption of advanced manufacturing practices. Rapid urbanization, noteworthy development of civil infrastructure, optimized labor costs, and consumer electronics products are projected to lead to the significant growth of the hardware segment.

Why is Uptake of Additive Manufacturing Technologies Increasing in the Medical Field?

“Growing Adoption of Additive Manufacturing for Fabricating Synthetic Tissues and Muscles”

Attributes	Medical
Segment Value (2024E)	US$ 6.08 Billion
Growth Rate (2024 to 2034)	22.7% CAGR
Projected Value (2034F)	US$ 41.85 Billion

The medical sector is projected to hold 22.1% of the global market share by 2034. Utilization of additive manufacturing technology in the healthcare industry for fabricating synthetic tissues and muscles has contributed to the notable growth of the industrial sector. This advancement is expected to further drive the adoption of 3D printing materials and techniques in healthcare, specifically for replacement surgeries involving natural human tissues.

Competitive Landscape

Companies are making progress consistently and integrating several technologies to enhance their systems used for supply chain management of additive manufacturing solutions. Their resources are dedicated to providing superior offerings and ensuring predicted high product quality.

Key players in the additive manufacturing market are Renishaw Plc., Wipro Limited, Materialise, ANSYS, Inc., Evonik, Siemens Industry Software Inc., Stratasys Ltd., General Electric, Xerox Corporation, AMFG, Mazak Corporation, American Additive Manufacturing LLC, and Optomec.

Segmentation of Additive Manufacturing Market Research

• By Product Type:

  • Hardware
  • Material
  • Software

• By Technology:

  • Powder Bed Fusion
  • Direct Energy Deposition
  • Material Jetting
  • Material Extrusion
  • Photo Polymerization

• By Application:

  • Medical
  • Automotive
  • Aerospace & Defense
  • Consumer Electronics
  • Architecture
  • Industrial Equipment
  • Education & Research Institutions

• By Region:

  • North America
  • Europe
  • East Asia
  • Latin America
  • Middle East & Africa
  • South Asia & Oceania