New York, Dec. 08, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Additive Manufacturing by Technology by Printer Type by Material by Application by Component and by End-User – Global Opportunity Analysis And Industry Forecast 2022–2030” – https://www.reportlinker.com/p06371377/?utm_source=GNW
Additive Manufacturing (AM) market, also known as 3D printing and additive layer manufacturing, was valued at USD 14.39 billion in 2021 and is projected to reach USD 83.56 billion by 2030 at a CAGR of 21.2% during the forecast period from 2022 to 2030.
The additive manufacturing market growth can be attributed to the rising demand for 3D digital printing in the aerospace industry as 3D printing enables rapid prototyping, replacement, consolidation of multiple parts, and building tooling fixtures. For instance, in May 2021, NASA partnered with Aerojet Rocketdyne to advance 3D printing technologies and its capabilities for liquid rocket engines in landers and on-orbit spacecraft.
On the contrary, high costs and lack of standardization of equipment restrains the growth of the industry. However, the introduction of 3D printers that can create prototypes of electronic components such as 3D printed circuit boards (PCBs), antennae, and capacitors is expected to create ample opportunities for the additive manufacturing industry in the coming years.
The global additive manufacturing market is segmented on the basis of technology, printer type, material, application, component, end-user, and geography.
– Based on technology, the market is classified into stereolithography, fused 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, and others.
– Based on printer type, the market is segmented into desktop 3D printer and industrial 3D printer.
– Based on material, the market is categorized into polymer, metal, and ceramic.
– Based on application, the market is divided into prototyping, tooling, and functional parts.
– Based on the component, the market is divided into hardware, software, and services.
– Based on end-user, the market is segmented into industrial additive manufacturing and desktop additive manufacturing.
– Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and RoW.
The North America market is projected to hold the dominant share by 2030.
North America dominates the global additive manufacturing market share and is expected to remain dominant in the market throughout the forecast period. This can be attributed to factors such as high spending in the aerospace and defense industry that allows them to adopt cutting-edge technologies. For instance, in January 2022, GE Aviation announced that American multinational aerospace giant Boeing completed the first flight of its 777X jet, powered by twin GE9X engines. The engines are equipped with over 300 3D-printed parts.
Key Market Players
The emerging and efficient key players in the additive manufacturing industry include:
• General Electric
• 3D Systems, Inc.
• Formlabs Inc.
• Xometry, Inc.
• Proto Labs,
• Velo3D, Inc.
• Desktop Metal, Inc.
• Markforged Holding Corporation
• Shapeways Holdings, Inc.
Markforged announced the acquisition of Digital Metal to enter into the 3D printing metal binder jetting space. The acquisition enables Markforged to advance vision for distributed manufacturing by enabling the reliable, high-volume production of precise metal parts at the point of need.
Desktop Metal Inc. and Siemens announced a multifaceted partnership to accelerate the adoption of additive manufacturing for production applications. Siemens’ IoT-enabled hardware, software, and digital services portfolio will propel Desktop Metal’s accessible, dependable, and easy-to-use additive manufacturing 2.0 solutions.
Velo3D partnered with Hartech Group to distribute its end-to-end solution and deliver a turn-key process for federal government customers. Under this partnership, the companies will deliver full-service project execution for the sale, installation, and onboarding of Velo3D’s advanced metal additive manufacturing solution.
Formlabs launched Form 3+ and Form 3B+ printers. It is their fastest 3D printer to date and shipping globally. The Form 3+ & Form 3B+ leverage powerful, higher-intensity lasers and new material settings to optimize laser exposure and print up to 40% faster than earlier models.
Protolabs launched a post-processing technology called vapor smoothing for 3D-printed production parts. Vapor smoothing can enhance the finishing of 3D printed parts including complex geometries.
Read the full report: https://www.reportlinker.com/p06371377/?utm_source=GNW
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