Additive Manufacturing Market Size, Share, Growth Analysis, By Printer Type(3D Printer, and Industrial 3D Printer), By Component(Hardware, Software, and Services), By Technology(Stereolithography, Fused Deposition Modeling, Selective Laser Sintering, Direct Metal Laser Sintering), By Software(Design Software, Inspection Software, Printer Software, and Scanning Software), By Application(Prototyping, Tooling, and Functional Parts), By Material(Polymer, Metal, and Ceramic), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20I2150 | Region: Global | Published Date: April, 2024
Pages: 202 |Tables: 179 |Figures: 79

Additive Manufacturing Market Insights

Global Additive Manufacturing Market size was valued at around 16.72 billion in 2022 and is expected to rise from USD 20.20 billion in 2023 to reach a value of USD 91.59 Billion by 2031, at a CAGR of 20.8 % over the forecast period (2024–2031).

The market is anticipated to expand as a result of factors including the rising demand for prototype applications from different industries and industrial verticals, particularly healthcare, automotive, and aerospace & defense, as well as the aggressive research and development in 3D printing. Additive manufacturing refers to the process of layer-by-layer adding material to an object while using a 3D printer and 3D printer software. Depending on the application, a suitable technology for additive manufacturing is chosen from the pool of options.

Providing installation services, advisory services, customer support, and managing various aspects of copyright, licensing, and patenting are all included in the deployment of additive manufacturing. Additive manufacturing enables prototyping, developing the structure and final items, modeling, and shortening the time to market. Due to the huge reduction in production costs, businesses are now better able to offer competitive prices on their products. The use of 3D printers will probably increase as a result of these benefits.

The adoption of additive manufacturing is hampered by small- and medium-scale manufacturers' misconceptions about the prototype procedures. Instead of attempting to reap the benefits of prototyping, some firms are deliberating before viewing investments in prototyping as responsible investments. Prototyping is typically thought of as just a costly stage before manufacturing. Such beliefs, as well as the impending lack of technical expertise and accepted process controls, are anticipated to impede market expansion.

The impact of the COVID-19 epidemic on the overall economy has had a significant negative influence on the global market for additive manufacturing. Lockdowns and restrictions on the transportation of individuals and products imposed by various governments around the globe as part of the efforts to prevent the spread of the coronavirus had a negative impact on the production of additive manufacturing printers, there was a labor shortage, and the supply chain and logistics were frequently disrupted.

Market Snapshot - 2024-2031

Global Market Size

USD 16.72 billion

Largest Segment

3D Printer

Fastest Growth

3D Printer

Growth Rate

20.8% CAGR

Global Additive Manufacturing Market ($ Bn)
Country Share for North America Region (%)

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Additive Manufacturing Market Segmental Analysis

The global additive manufacturing market is segmented based on printer type, component, technology, software, application, material, and region. Based on printer type, the market is segmented into desktop 3d printer and industrial 3d printer. Based on components, the market is segmented into hardware, software, services. Based on technology, the market is segmented 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. In terms of software, the market is segmented into design software, inspection software, printer software, and scanning software. Based on application, the market is segmented into prototyping, tooling, and functional parts. With respect to material, the market is segmented into polymer, metal, and ceramic. Regionwise, the global additive manufacturing market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Additive Manufacturing Market Analysis by Printer Type

The market was dominated by the industrial 3D printer sector, which accounted for more than 63% of global revenue. Industrial 3D printers are widely used for several common applications including prototyping, designing, and tooling across a variety of industries and industrial verticals, including automotive, electronics, aerospace & defense, and healthcare, among others. The industrial 3D printer sector is anticipated to maintain its dominance over the market during the projected period due to the widespread usage of additive manufacturing for tooling, prototyping, and design.

Hobbyists and small businesses were the only ones who could first use desktop 3D printers. Desktop 3D printers are, nevertheless, increasingly used in home and household settings. Universities, colleges, and other educational institutions are also utilizing desktop 3D printers for technical instruction and research. Smaller companies frequently purchase desktop 3D printers and expand their product and service offerings to include additive manufacturing and other related services. As a result, it is predicted that the demand for desktop printers would rise significantly during the course of the forecast year.

Additive Manufacturing Market Analysis by Technology

The market was dominated by the stereolithography category, which contributed over 8% of total revenue. Stereolithography is one of the oldest and most commonly used printing processes. Stereolithography is becoming more popular due to its ease of usage as well as a variety of additional advantages. However, technological advancements and the aggressive R&D initiatives being pursued by researchers and industry experts are creating opportunities for a number of other effective and dependable technologies.

In addition to stereolithography, there are a number of additional additive manufacturing processes available. Among them are inkjet printing, polyjet printing process, laser metal deposition, electron beam melting, digital light processing, laminated item manufacturing, direct metals laser sintering, fused deposition modeling, and other procedures. While DLP, EBM, inkjet printing, and DMLS are also significantly gaining ground due to their applicability in specialized additive manufacturing processes, FDM is also widely adopted.

Global Additive Manufacturing Market By Printer Type

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Additive Manufacturing Market Regional Insights

North America held a revenue share of more than 34%, dominating the market for additive manufacture. Nations with developed economies like the United States and Canada are found in North America. These countries are known for being among the first to adopt cutting-edge technologies. But Europe overtook Asia to overtake it as the second-largest regional market. Geographically speaking, Europe is the biggest continent.

Asia Pacific is expected to increase significantly. Over the forecast period, the regional market is anticipated to grow at the highest CAGR. The continued advancements and innovations achieved by the established manufacturers in the area are particularly responsible for the rise of the regional market. Consumer electronics, healthcare, and the automotive industries are all rapidly moving their manufacturing to Asia Pacific. Over the course of the forecast period, rapid urbanization is anticipated to be a major factor in driving the adoption of three-dimensional printing throughout the region.

Global Additive Manufacturing Market By Region
  • Largest
  • Fastest

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Additive Manufacturing Market Dynamics

Additive Manufacturing Market Drivers

Increased Demand for Customized Products

  • One of the key drivers of the additive manufacturing market is the growing demand for customized products. 3D printing allows manufacturers to produce products that are tailored to the specific needs of individual customers, which is particularly important in industries such as aerospace, automotive, and healthcare.

Rising Integration of 3D Printing 

  • The integration of 3D printing has revolutionized the manufacturing of final car parts, proving instrumental for automotive giants such as Volkswagen, BMW, and Ford. These industry leaders leverage additive technologies to produce crucial components for vehicles. Among the latest advancements in 3D printing is Fused Filament Fabrication (3F or FFF), a groundbreaking technique exploring various materials engineered to mimic plastic properties. 

Lightweight Components for Key Industries 

  • Additive manufacturing enables the creation of complex, lightweight components. This is a game-changer for sectors like aerospace and automotive where lighter parts translate to improved fuel efficiency and performance. 

Additive Manufacturing Market Restraints

High Initial Investment Costs

  • The initial investment required for 3D printing equipment and software can be high, which can be a barrier to adoption for some manufacturers. This is particularly true for small and medium-sized enterprises (SMEs), which may not have the resources to invest in 3D printing technology.

Limited Production Speed and Scalability:  

  • Additive manufacturing excels in prototyping and low-volume production runs. However, its current production speeds can be drastically slower than traditional manufacturing methods for high-volume applications. This limits its integration into large-scale manufacturing environments. 

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Additive Manufacturing Market Competitive Landscape

Market participants are continuously developing additive manufacturing technologies in response to the rising demand for three-dimensional printing from established organizations in the automotive, healthcare, and aerospace & military industries for production purposes. In order to create new items, major industry businesses typically use additive manufacturing. Market leaders like Stratasys, Ltd. are extending the use of additive manufacturing beyond prototype to the entire industrial value chain.

Additive Manufacturing Market Top Player’s Company Profiles

  • 3D Systems Corporation
  • Materialize NV
  • General Electric Company (GE Additive)
  • SLM Solutions Group AG
  • Arcam AB
  • EnvisionTEC GmbH
  • HP Inc.
  • Voxeljet AG
  • Renishaw plc
  • Optomec Inc.
  • Concept Laser GmbH
  • Ultimaker BV
  • Desktop Metal, Inc.
  • Carbon, Inc.
  • Prodways Group
  • XYZprinting, Inc.
  • The ExOne Company
  • Nano Dimension Ltd.

Additive Manufacturing Market Recent Developments

  • In April 2024, Materialise, a global leader in 3D printing software and services, partnered with Renishaw, a UK-based engineering technologies company. This partnership aims to enhance efficiency and productivity for manufacturers utilizing Renishaw's additive manufacturing (AM) systems. As a result, users of Renishaw's RenAM 500 series of metal AM systems will gain access to Materialise's advanced build processor software, tailored specifically for these systems. 

  • In March 2024, 3DEO, a US-based leader in design, engineering, and metal additive manufacturing (AM), announced a strategic partnership and investment with IHI AEROSPACE Co., Ltd. (IA), a Japanese aerospace engineering and manufacturing company. This collaboration aims to enhance the adoption and implementation of AM technologies within IA, leveraging 3DEO's expertise in Design for Additive Manufacturing (DfAM) and technology differentiation. 

  • In June 2023, Xi'an Bright Laser Technologies, a Chinese company, and Siemens China Co., Ltd. formed a strategic partnership to foster long-term cooperation. The partnership aims to accelerate the development of digital factories and enhance the production of metal additive manufacturing equipment. 

  • In April 2023, Oqton, a US-based software provider, partnered with Castor Technologies Ltd., an Israeli automated software company. This collaboration integrates Castor's software with Oqton's Manufacturing OS, providing a comprehensive solution for manufacturers to assess the business case and technical viability of adopting additive manufacturing technologies.

Additive Manufacturing Key Market Trends

  • Shift from Prototyping to Production: The additive manufacturing industry is increasingly shifting from prototyping to production applications. As 3D printing technologies improve and become more efficient, manufacturers are using them to produce end-use parts and products, rather than just prototypes. This is driving the growth of the additive manufacturing market in a wide range of industries.
  • Industry 4.0 Integration: Additive manufacturing is a key component of Industry 4.0, which is the current trend of automation and data exchange in manufacturing technologies. Manufacturers are integrating 3D printing into their digital manufacturing workflows, allowing for greater efficiency, accuracy, and flexibility in production.
  • Materials Innovation: The range of materials available for additive manufacturing is expanding, with new materials being developed for specific applications. For example, there are now 3D printing materials that can withstand high temperatures, are electrically conductive, or have antimicrobial properties. This is driving the adoption of additive manufacturing in new industries and applications.
  • On-Demand Manufacturing: 3D printing is well-suited for on-demand manufacturing, as it allows for quick and efficient production of low-volume, customized parts. This trend is particularly important in industries such as healthcare, where personalized medical devices and implants can be produced on-demand using 3D printing.
  • Metal Segment Dominance: The metal segment is expected to dominate the additive manufacturing market, accounting for the largest share during the forecast period due to its substantial usage in industries like consumer electronics and autos. 

  • Stereolithography Technology: Stereolithography is anticipated to hold the largest share of the global additive manufacturing market due to its many advantages and ease of use. 

Additive Manufacturing Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global additive manufacturing market analysis, we found that the market is anticipated to expand as a result of factors including the rising demand for prototype applications from different industries and industrial verticals, particularly healthcare, automotive, and aerospace & defense, as well as the aggressive research and development in 3D printing. 3D printing is well-suited for on-demand manufacturing, as it allows for quick and efficient production of low-volume, customized parts. This trend is particularly important in industries such as healthcare, where personalized medical devices and implants can be produced on-demand using 3D printing.

Report Metric Details
Market size value in 2023 USD 16.72 billion
Market size value in 2031 USD 91.59 Billion
Growth Rate 20.8%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Printer Type
    • 3D Printer, and Industrial 3D Printer
  • Component
    • Hardware, Software, and Services
  • Technology
    • 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
  • Software
    • Design Software, Inspection Software, Printer Software, and Scanning Software
  • Application
    • Prototyping, Tooling, and Functional Parts
  • Material
    • Polymer, Metal, and Ceramic
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Stratasys Ltd.
  • 3D Systems Corporation
  • EOS GmbH
  • Materialize NV
  • General Electric Company (GE Additive)
  • SLM Solutions Group AG
  • Arcam AB
  • EnvisionTEC GmbH
  • HP Inc.
  • Voxeljet AG
  • Renishaw plc
  • Optomec Inc.
  • Concept Laser GmbH
  • Ultimaker BV
  • Desktop Metal, Inc.
  • Carbon, Inc.
  • Prodways Group
  • XYZprinting, Inc.
  • The ExOne Company
  • Nano Dimension Ltd.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Additive Manufacturing Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Additive Manufacturing Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Additive Manufacturing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Additive Manufacturing Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Additive Manufacturing Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Additive Manufacturing Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Additive Manufacturing Market size was valued at around USD 16.72 billion in 2022 and is expected to rise from USD 20.20 billion in 2023 to reach a value of USD 91.59 Billion by 2031, at a CAGR of 20.8% over the forecast period (2024–2031).

Market participants are continuously developing additive manufacturing technologies in response to the rising demand for three-dimensional printing from established organizations in the automotive, healthcare, and aerospace & military industries for production purposes. In order to create new items, major industry businesses typically use additive manufacturing. Market leaders like Stratasys, Ltd. are extending the use of additive manufacturing beyond prototype to the entire industrial value chain. 'Stratasys Ltd.', '3D Systems Corporation', 'EOS GmbH', 'Materialize NV', 'General Electric Company (GE Additive)', 'SLM Solutions Group AG', 'Arcam AB', 'EnvisionTEC GmbH', 'HP Inc.', 'Voxeljet AG', 'Renishaw plc', 'Optomec Inc.', 'Concept Laser GmbH', 'Ultimaker BV', 'Desktop Metal, Inc.', 'Carbon, Inc.', 'Prodways Group', 'XYZprinting, Inc.', 'The ExOne Company', 'Nano Dimension Ltd.'

One of the key drivers of the additive manufacturing market is the growing demand for customized products. 3D printing allows manufacturers to produce products that are tailored to the specific needs of individual customers, which is particularly important in industries such as aerospace, automotive, and healthcare.

Shift from Prototyping to Production: The additive manufacturing industry is increasingly shifting from prototyping to production applications. As 3D printing technologies improve and become more efficient, manufacturers are using them to produce end-use parts and products, rather than just prototypes. This is driving the growth of the additive manufacturing market in a wide range of industries.

North America held a revenue share of more than 34%, dominating the market for additive manufacture. Nations with developed economies like the United States and Canada are found in North America. These countries are known for being among the first to adopt cutting-edge technologies. But Europe overtook Asia to overtake it as the second-largest regional market. Geographically speaking, Europe is the biggest continent.

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