The global additive manufacturing and material market size reached USD 26.8 billion in 2022. Global additive manufacturing and material demand is set to rise at 21.2% CAGR from 2022 to 2032. By the end of 2032, the worldwide market valuation will reach USD 183 billion.
Automotive sector is likely to remain a key revenue-generating segment throughout the assessment period. As per Future Market Insights, automotive segment will expand at 21% CAGR through 2033.
Key Market Shaping Factors
Over the years, there has been a rising interest among industries to use advanced manufacturing and prototyping technologies. Initially, most of the companies used subtractive manufacturing. However, with growing popularity of 3D printing, the focus gradually shifted towards additive manufacturing.
Additive manufacturing (AM) is a process that involves layer-by-layer fabrication of 3D models. In industrial settings, it is also sometimes referred to as 3D printing. However, many consider 3D printing a subset of additive manufacturing.
This advanced manufacturing technique has become an ideal replacement for traditional technologies such as Computer Numerical Control (CNC) and injection molding.
Additive manufacturing allows companies to build three-dimensional objects from a computer-aided design (CAD) model. This is done by successively adding materials in a layer-by-layer fashion. It has become a key rapid prototyping technology worldwide.
Additive manufacturing not only helps to save capital and time during product development, but also has profound impacts on product design, direct part fabrication, and assembly. It allows for the creation of custom-made parts with complex geometries and little wastage.
As additive manufacturing is a digital process, design altercations can be done efficiently and quickly during manufacturing process. Advancements in additive manufacturing and materials have allowed this technology to move beyond prototyping and product design to support production at scale.
There are various materials used for additive manufacturing. This includes plastic (thermoplastic polymers), biochemicals, metals, and ceramics. The most commonly used additive manufacturing materials are thermoplastic polymers such as Polylactic Acid (PLA).
Similarly, high-performance materials such as PEEK and PEKK are also gaining popularity in additive manufacturing. Advancements in additive manufacturing materials will support market expansion through 2032.
To maximize potential of additive manufacturing, companies use additive manufacturing execution systems (MES). Adoption of additive manufacturing enables businesses to mass produce customized objects. Hence, growing shift towards mass customization and mass personalization will boost the market.
Rising need for improving productivity and reducing overall production costs is likely to create growth prospects for the market. Besides this, penetration of industry 4.0, robotics, and automation will support market expansion.
One of the leading users of additive manufacturing and materials is the automotive industry. Additive manufacturing and materials enable automakers to rapidly prototype components while reducing weight and costs. Hence, rapid expansion of automotive industry will elevate additive manufacturing demand as well as boost additive manufacturing material sales.
Additive manufacturing also finds applications in aerospace industry. This is due to its ability to create complex geometric parts and its weight saving capability. Increasing adoption of additive manufacturing in defense & aerospace industry will trigger additive manufacturing material sales.
Another factor that will boost additive manufacturing and material industry is the rising usage in medical sector. Various additively manufactured parts such as custom-fitted implants and devices can be made easily by using additive manufacturing and materials.
North America will continue to dominate the global additive manufacturing and material industry. The growing need for 4D printed products in the automotive as well as the aerospace sector has led to the expansion of this market in North America.
Besides this, presence of leading manufacturers such as 3D Systems Corporation is fuelling market expansion in North America.
| Attributes | Key Insights |
|---|---|
| Additive Manufacturing and Material Market Size (2022) | USD 26.8 billion |
| Projected Market (2032) | USD 183 billion |
| Value-based CAGR (2022 to 2032) | 21.2% |
| USA Market CAGR (2022 to 2032) | 19.9% |
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As per Future Market Insights, the global additive manufacturing and material market expanded at 27.2% CAGR from 2017 to 2021. For the next ten years, the market will exhibit a CAGR of 21.2%. Accordingly, it will generate an absolute $ opportunity of USD 156.2 billion through 2032.
Rising demand from various industries is driving the additive manufacturing and material market. In recent years, demand for additive manufacturing and materials has skyrocketed, especially in the automotive industry.
Automakers are shifting their preference towards 3D printing technologies. This is because these technologies allow them to increase productivity and reduce costs.
Growth in the market will be driven by rising automobile production and growing demand for electronics. Another factor boosting the market's growth is the expanding research and development efforts to use improved materials in conjunction with advanced technologies. Also, the increased activity in the construction and building industries as a result of the demand for infrastructure development will support market expansion.
Key factors that are increasing demand for additive manufacturing and materials are increasing cost-effectiveness and material advancements. Due to the need for costly molds and tooling, additive manufacturing has emerged as a more affordable method for making complicated parts in small quantities
Advanced manufacturing or additive manufacturing enables the creation of specialized parts. This is crucial in sectors such as aerospace, medicine, and automotive where each component must be adapted to unique demands. This in turn is fuelling growth in the market.
Recent developments in 3D printing have allowed users to put materials more precisely and flexibly. This will create new growth prospects within the global additive manufacturing and material industry.
Additive manufacturing lowers the need for costly tooling, reduces labor costs, and expedites the manufacturing process. Manufacturers and customers both save money as a result of this and thus it fuels the market growth.
The spectrum of industries where additive manufacturing is being used is expanding quickly. Industries such as automotive, aerospace, medical, and consumer goods sectors are increasingly adopting 3D printing. This is because of its numerous advantages.
New materials that can be produced with additive manufacturing, such as metal alloys, ceramics, and composites, have been made possible by advances in materials science. As a result, there is a wider variety of goods that are created utilizing additive manufacturing technology. This in turn trigger will boost the market.
Principal Consultant
The factors restraining expansion of the market are the mechanical properties of the material such as density and tensile strength and the excessive time taken for processing.
Additive manufacturing is generally a time-intensive process that is dependent on other processes. The mechanical properties of the material need to be modified to get the desired product which makes it more vulnerable. This limits the market expansion.
The expensive cost of the technology is also one of the main obstacles preventing the market for additive manufacturing and materials from expanding. Various small and medium-sized enterprises find the cost of the equipment and materials used in additive manufacturing to be quite expensive.
| Country | United States |
|---|---|
| Projected CAGR (2022 to 2032) | 19.9% |
| Historical CAGR (2017 to 2021) | 25.5% |
| Market Value (2032) | USD 57.0 billion |
| Country | United Kingdom |
|---|---|
| Projected CAGR (2022 to 2032) | 20.2% |
| Historical CAGR (2017 to 2021) | 25.9% |
| Market Value (2032) | USD 9.2 billion |
| Country | China |
|---|---|
| Projected CAGR (2022 to 2032) | 22.3% |
| Historical CAGR (2017 to 2021) | 29.0% |
| Market Value (2032) | USD 15.7 billion |
| Country | Japan |
|---|---|
| Projected CAGR (2022 to 2032) | 20.5% |
| Historical CAGR (2017 to 2021) | 26.3% |
| Market Value (2032) | USD 13.2 billion |
| Country | South Korea |
|---|---|
| Projected CAGR (2022 to 2032) | 21.6% |
| Historical CAGR (2017 to 2021) | 28.1% |
| Market Value (2032) | USD 7.4 billion |
Growing Popularity of Additive Manufacturing and Materials in Healthcare Sector Boosting the USA Market
The USA additive manufacturing and material market is forecast to cross USD 57 billion mark in 2032. Between 2017 and 2021, the USA market exhibited a CAGR of 25.5%. During the projection period, additive manufacturing and material demand in the USA will rise at 19.9% CAGR.
As per Future Market Insights, the USA market will generate an absolute $ opportunity of USD 47.7 billion through 2032. Growth in the market is driven by rising applications of additive manufacturing and materials in healthcare and aerospace sectors.
Besides this, heavy presence of leading 3D printer manufacturers will boost the USA market. The United is home to various prominent manufacturers. These companies are constantly introducing novel products to meet end user demand.
For instance, in February 2020, J826 3D printer was launched by Stratasys, a United States-based company. The J826 offers multi-material 3D printing and full PANTONE-validated color.
It is cost-effective than its predecessor models. Businesses with mid-volume modeling needs in sectors including consumer products and electronics, the automobile industry, and educational institutions might benefit from the J826.
Advancements in 3D printing technologies will further boost additive manufacturing material sales across the USA.
High Adoption across Thriving Automotive Sector Boosting Additive Manufacturing and Material Demand in China
China additive manufacturing and material market expanded at 29% CAGR from 2017 to 2021. Over the next ten years, sales in China market are likely to surge at 22.3% CAGR. By 2032, China market will reach a valuation of around USD 15.7 billion.
Between 2022 and 2032, China’s market will generate an absolute $ opportunity of USD 13.6 billion. Growing adoption of additive manufacturing and material in thriving automotive sector is driving China market.
In recent years, China has emerged as a hub for automotive production. This is due to presence of leading vehicle manufacturers. Most of the China-based automakers are using additive manufacturing and materials for prototyping and mass production.
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Stereo Lithography Remains Highly Popular Technology
As per Future Market Insights, stereo lithography remains the most popular additive manufacturing technology. This type of 3D printing technology is employed for creating prototypes, models, production parts, and patterns in a layer by layer fashion. It uses photochemical processes for this purpose.
Stereo lithography (SLA) technology, also referred to as optical fabrication, is widely used for rapid prototyping. This is because of its high speed, accuracy, and part strength. Various stereolithography materials are being used during fabrication of models.
Growing usage of stereo lithography across various industries for creating accurate 3D models will boost growth of the target segment. For instance, this 3D printing technology finds application in medicine. It is used to create 3D models of patients’ anatomical regions.
Subsequently, stereolithography technology is used in various applications across automotive industry. Stereo lithography segment expanded at 26.7% CAGR from 2017 to 2021. Over the next ten years, it will rise at around 21.1% CAGR.
On the other hand, fused deposition modeling or fused filament fabrication (FFF) is also gaining popularity worldwide.
Automotive Sector Remains the Leading End User
Most of the additive manufacturing and material demand will arise from automotive sector. This is due to rising adoption of various additive manufacturing technologies in this booming sector.
Demand for additive manufacturing and materials in the automotive segment grew at 26.2% CAGR from 2017 to 2021. During the projection period, the automotive segment will thrive at 21% CAGR.
Today, most automotive manufacturers are using additive manufacturing technologies. This is because they enable them to target optimal levels of innovation and performance in their products.
By using additive manufacturing technologies, automakers can reduce prototyping, manufacturing, and assembly cost of vehicle components. They do this by simplifying the process flow.
Growing adoption of 3D printing in automotive industry will continue to boost growth of the target segment. It is believed that 3D printing will be key to developing electric cars and autonomous vehicles.
From prototyping and fabrications to spare and end-part production, additive manufacturing or 3D printing is helping automakers to improve productivity and reduce costs.
Additionally, rising demand for Industry 4.0 standards and the emergence of Industry 5.0. will further elevate demand in automotive sector.
Leading players are concentrating on introducing novel technologies to meet end user demand. They are also using strategies such as mergers, partnerships, and acquisitions to stay ahead of the competition.
Recent developments
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 26.8 billion |
| Projected Market Size (2032) | USD 183.0 billion |
| Anticipated Growth Rate (2022 to 2032) | 21.2% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; and the Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, and others. |
| Key Segments Covered | Technology, Material, End User, and Region |
| Key Companies Profiled | 3D Systems Corporation; General Electric Company; Envision TEC GmbH; EOS GmbH; Exone Company; CleanGreen 3d Limited; Materialise NV; Optomec Inc.; Stratasys Ltd; SLM Solutions Group AG |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The Additive Manufacturing and Material Market CAGR for 2033 is 21.2%.
The market is estimated to reach USD 26.8 billion by 2033.
3D Systems Corporation, Stratasys Ltd, EOS GmbH are key market players.
The market is estimated to secure a valuation of USD 183 billion in 2023.
Through industrial cooperation, metal 3D printing using novel materials promotes healthcare, consumer product customization, and advanced technology development.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Technology 5.1. Stereo Lithography 5.2. Fused Deposition Modelling 5.3. Laser Sintering 5.4. Binder Jetting Printing 5.5. Other Technologies 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End User 6.1. Aerospace and Defense 6.2. Automotive 6.3. Healthcare 6.4. Industrial 6.5. Other End Users 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Material 7.1. Plastic 7.2. Metals 7.3. Ceramics 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East & Africa 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Middle East & Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. 3D Systems Corporation 16.2. General Electric Company 16.3. EnvisionTEC GmbH 16.4. EOS GmbH 16.5. Exone Company 16.6. CleanGreen3d Limited 16.7. Materialise NV 16.8. Optomec Inc. 16.9. Stratasys Ltd 16.10. SLM Solutions Group AG 17. Assumptions & Acronyms Used 18. Research Methodology
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Additive Manufacturing and Material Market
