According to the report by Expert Market Research (EMR), the global industrial additive manufacturing market reached a value of nearly USD 13.00 billion in 2023. Aided by the burgeoning applications of additive manufacturing across diverse sectors and a rising demand for customisation and advanced manufacturing solutions, the market is projected to grow at a CAGR of 20.9% between 2024 and 2032 to reach a value of around USD 71.97 billion by 2032.
Additive manufacturing, commonly referred to as 3D printing, involves the layer-by-layer construction of objects using materials such as polymers, metals, and composites. This technology is revolutionising production processes by enabling high levels of design flexibility, waste minimisation, and the reduction of time-to-market for new products.
Artificial Intelligence (AI) and machine learning are increasingly being integrated with additive manufacturing to optimise production processes. These technologies enable predictive maintenance, quality control, and process optimisation, thereby enhancing the overall efficiency and productivity of 3D printing operations. This is expected to accelerate the industrial additive manufacturing market development in the coming years.
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Research and development into new printable materials are expanding the applications of additive manufacturing. Innovations in metal alloys, advanced polymers, and composite materials are expected to open up new opportunities for 3D printing in sectors such as construction, energy, and electronics, where the properties of these materials can be fully leveraged. This is expected to drive the industrial additive manufacturing market growth.
While traditionally used for prototyping, additive manufacturing is progressively being adopted for full-scale production. This shift is facilitated by improvements in printing speed and the ability to handle larger volumes, making 3D printing a viable option for mass production in certain industries.
As the technology matures, it is anticipated that regulatory frameworks around the world will evolve to better accommodate and promote the use of additive manufacturing. This will be particularly impactful in highly regulated industries like healthcare and aerospace, where precision and safety are paramount. This is expected to drive the industrial additive manufacturing market expansion in the coming years.
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Recognising the skill gap in the market, educational institutions and companies are increasingly investing in training programmes. These initiatives aim to equip the workforce with the necessary skills to operate advanced 3D printing technologies, supporting the market’s growth and innovation capacity.
Additive manufacturing promotes the concept of localised production, reducing the need for extensive supply chains and enabling on-site production of parts and products. This not only cuts down on transportation costs and emissions but also allows for quicker response times to market changes and customer needs. This can propel the industrial additive manufacturing market development.
North America currently dominates the global industrial additive manufacturing market share, attributed to its robust technological infrastructure and the early adoption of 3D printing technologies. However, the Asia Pacific is expected to exhibit the highest growth rate during the forecast period, driven by rapid industrialisation, increasing investment in R&D, and government initiatives promoting advanced manufacturing techniques.
In Europe, strong governmental support and the presence of leading automotive and aerospace manufacturers are propelling the market forward. The region’s focus on sustainability and efficient manufacturing processes further augments the adoption of additive manufacturing technologies.
The industrial additive manufacturing market is set for dynamic growth in upcoming years, driven by continuous technological advancements and a shift towards more sustainable and efficient manufacturing practices. By staying informed of trends, embracing new technologies, and focusing on skill development, businesses can effectively navigate this evolving landscape and harness the potential of additive manufacturing to transform their production capabilities and achieve competitive advantage.
Market Segmentation
The market can be divided based on material type, technology, end use, and region.
Market Breakup by Material Type
- Metals
- Polymers
- Ceramics
- Others
Market Breakup by Technology
- Binder Jetting
- Material Extrusion
- Powder Bed Fusion
- Material Jetting
- Others
Market Breakup by End Use
- Aerospace
- Industrial
- Medical and Healthcare
- Automotive
- Electrical and Electronics
- Building and Construction
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscapewww.expertmarketresearch.com
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global industrial additive manufacturing market. Some of the major players explored in the report by Expert Market Research are as follows:
- Stratasys Ltd.
- 3D Systems, Inc.
- General Electric Company
- Envisiontec US LLC
- EOS GmbH
- ExOne Operating, LLC
- Materialise NV
- Optomec, Inc.
- SLM Solutions Group AG
- Fathom
- Others
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