Global Additive Manufacturing Market: Overview
To create 3D objects, 3D printing is used which is also known as additive manufacturing. To take the 3D print of the objects in various industries such as healthcare, research, aerospace, consumer products and industrial, automotive, education, government and defense, additive manufacturing is used. Complex design products can now be easily conceptualized and manufactured by making use of additive manufacturing. The high utilization of the additive manufacturing is for customization of the products. With the help of additive manufacturing, industries are now able to manufacture products that have complex designs with high accuracy. Various technologies that are used in the 3D printing or additive manufacturing are fused deposition modeling, electron beam melting, selective laser sintering, laminated object manufacturing, robocasting, stereo lithography, selective heat sintering, direct metal laser sintering and power bed.
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Global Additive Manufacturing Market: Segmentation
The additive manufacturing market is segmented into end-user industry, material type, and the regions. On the basis of the end-user industry, the additive manufacturing market is classified into automotive, healthcare, automotive, dental and others. Based on the material type, the global market is categorized into plastic, metal alloy, rubber and others. The geographical regions where the additive manufacturing market is diversified are Asia-Pacific, Europe, North America and Rest of the World.
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Global Additive Manufacturing Market: Growth Factors
The growth of the additive manufacturing market is highly dependent on the growth of other industries such as manufacturing, food and beverages, automotive, aerospace and healthcare. There is a significant demand for the additive manufacturing from the medical and dental industries. Growing population with increasing income is propelling the growth of the additive manufacturing market. In the coming years, the global market is expected to grow owing to the price drop of the 3D printer. Currently, the developed economies are using additive manufacturing or 3D printing, whereas the developing economies are using the additive manufacturing in a limited way. This limited usage of the additive manufacturing in the underdeveloped and developing economies may hamper the global market growth.
Global Additive Manufacturing Market: Regional Analysis
The most prominent market for the additive manufacturing is Europe, which is followed by North America and Asia-Pacific. The increasing investments in this region are driving the additives manufacturing market. Europe leads the global market in terms of revenue owing to the increasing income and low manufacturing cost of additive manufacturing. North America is the second largest market followed by Asia-Pacific. In the Asia Pacific region, China holds the first position followed by India. The leading companies are making investments to expand their business and increase their production capacity.
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Global Additive Manufacturing Market: Competitive Players
Some of the major companies that are operating in the additive manufacturing market include Stratasys Inc., MCor Technologies Ltd., Biomedical Modeling, Inc., Envisiontec GmbH, Morries Technologies Inc., Materialise NV, SLM Solutions GmbH, ExOne, Arcam AB, Greatbarch Inc., 3D Systems, Inc., Eos GmbH Electro Optical Systems, GPI Prototype and Manufacturing Services, Inc., Sirona Dental System and EOS, and Stratasys Ltd.
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