Latest News- Additive Manufacturing Market: Hardware is expected to lead the Component segment during 2025-2029

The Additive Manufacturing Market is being driven by High demand in medical device sector

The Additive Manufacturing Market is expected to grow at a CAGR of 23.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 46759.2 million. In the realm of manufacturing, customization refers to the creation or modification of products to cater to specific customer demands. The burgeoning interest in customized additively manufactured goods has led to two primary avenues: purchasing from companies specializing in such products or investing in affordable desktop 3D printers for in-house production. While desktop 3D printers are increasingly accessible, the creation of customized items can entail substantial costs. As a result, high disposable income consumers are the primary adopters of this technology, while others opt for outsourced customized solutions. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Hardware
  • Software
  • Services
• End-user
  • Automotive
  • Aerospace
  • Industrial
  • Healthcare
  • Others
• Material
  • Plastics
  • Metals
  • Ceramics
  • Others
• Technology
  • Stereolithography
  • Polyjet printing
  • Binder jetting printing
  • Laser sintering
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Spain
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• High demand in medical device sector
• Rise in adoption of computer-aided design/computer-aided manufacturing (CAD/CAM) technology and desktop printers
• Collaborations and partnerships among vendors

However, the market also witnesses some limitations, which are as follows:

• High initial cost incurred in setting up additive manufacturing facilities
• Threat of counterfeiting products
• Lack of in-house additive manufacturing resources

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Market Scope in Additive Manufacturing Market Research Report

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Research Analysis Overview

The Additive Manufacturing Market is experiencing significant growth with the shift from traditional subtractive manufacturing methods to advanced 3D printing technology. This layer-by-layer addition process reduces production expenses and offers installation services, consultation solutions, and regulatory scrutiny. Industrial 3D printers, including stereolithography and fuse deposition modeling, are transforming industries such as automotive, while desktop 3D printers cater to educational purposes. Mergers & acquisitions continue in this sector, with companies enhancing design software and scanning software capabilities to expand their offerings in the prototyping and industrial additive manufacturing segments.

Market Research Overview

The Additive Manufacturing Market encompasses businesses specializing in high-value-add chemicals, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio, market size is determined by the consolidated revenue of manufacturers supplying these specialized chemicals. Key growth drivers for the Additive Manufacturing Market include the increasing preference for specialty adhesives and sealants, with their demand anticipated to surge during the forecast period due to the expanding application scope in additive manufacturing processes such as 3D printing and layer-by-layer addition. Installation services are also expected to contribute to market growth as they ensure optimal performance and longevity of additive manufacturing systems.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/