ADDITIVE MANUFACTURING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Additive Manufacturing Market Size and Trends

Global additive manufacturing market is estimated to be valued at US$ 20.31 Bn in 2024 and is expected to reach US$ 95.88 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 24.8% from 2024 to 2031.

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Additive manufacturing is also known as 3D printing, and the market growth is driven by increasing demand from various end-use industries such as automotive, healthcare, industrial, and aerospace & defense. Additive manufacturing helps in reducing production costs and time to market new products such as engine components, anatomical models, lightweight automotive components, and others, thus encouraging manufacturing companies to adopt 3D printing techniques. Additive manufacturing industry is further experiencing rapid growth, driven by advancements in technology and expanding applications across various industries.

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Top Strategies Followed by Additive Manufacturing Market Players

• Established Players – Investing in R&D: Established players in the additive manufacturing market focus heavily on research and development to drive innovation. Industry leaders like 3D Systems invest over 10% of annual revenues into R&D to develop new high-performance materials and productivity-enhancing technologies.
• Mid-Sized Players – Cost-effectiveness: Mid-sized players compete on cost while forming valuable alliances. They leverage affordable production techniques to target price-conscious small businesses and individual inventors. Companies like Markforged offer desktop metal printers that can create functional parts at low costs. They collaborate with universities to expand material development and improve post-processing methods. Small players find niche markets not addressed by large corporations. Regbot focuses solely on robot end-effectors, developing specialized grippers for collaborative robots.
• Small-scale Players - Small players in the additive manufacturing market play a vital role in driving innovation, particularly in niche applications and specialized technologies. They often focus on developing unique materials, custom solutions, and software to address specific industry needs. For instance, startups like Desktop Metal have gained prominence by offering cost-effective, user-friendly 3D printing solutions.

Emerging Startups in the Additive Manufacturing Market

Development of Innovative Technologies: Several startups are developing innovative technologies to transform the industry. Nanofabrica develops microscopic 3D printing using two-photon polymerization for applications in bioengineering and electronics. Nanofabrica's techniques enable printing features only a few microns in size. Momentum 3D applies AI to optimize print parameters for strength and quality, allowing mass customization at scale. Their adaptive algorithms could revolutionize mass production with AM. Sustainable startups address additive manufacturing's environmental impacts. Both FreAdd and Reflow 3D recycle plastic waste to manufacture filament for desktop 3D printers, diverting plastic from landfills. Their recycled filament reduces embodied carbon emissions compared to conventional plastics.