What Is The Current and Historic Market Size Analysis Of The Metal Additive Manufacturing Market?
The metal additive manufacturing market has seen considerable growth due to a variety of factors.
•Over recent years, the market size for metal additive manufacturing has experienced swift growth. It is projected to rise from $5.29 billion in 2024 and reach $6.11 billion in the following year with a compound annual growth rate (CAGR) of 15.4%.
The historical development is largely due to global industrialization, wider acceptance in the automotive industry, expansion of the aerospace sector, and the growth of the healthcare and manufacturing sectors.
What Are The Predictions for The Metal Additive Manufacturing Market Size In The Coming Years?
The metal additive manufacturing market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the metal additive manufacturing market as it is anticipated to experience substantial growth in the upcoming years. The anticipated market size is projected to reach $11.49 billion by 2029, with a compound annual growth rate (CAGR) of 17.1%.
This projected expansion in the forecasted period can be traced back to factors such as the expansion of the dental industry, the rise of educational institutions, enhanced efficiency, an increased emphasis on cutting costs, and the constant efforts towards weight reduction. The forecast period is also expected to witness major trends such as advancements in 3D printing, the integration of automation and streamlined workflows, technological and product innovations.
What Are The Essential Drivers Behind The Growth Of The Metal Additive Manufacturing Market?
The surge in the use of metal additive manufacturing technologies within the aerospace sector is projected to drive the expansion of the metal additive manufacturing market. An array of operations such as design, development, production, functioning, and maintenance of aircraft, spacecraft, satellites, and associated parts fall under the aerospace industry. The utility of metal additive manufacturing in this sector is in the creation of lightweight parts which reduce the overall weight of spacecraft and aircraft, enhance fuel efficiency, and curb emissions. A case in point is a rise in the EBITDA as reported in May 2024 by the Australian Bureau of Statistics, an Australian national statistical agency. The EBITDA of the manufacturing industries in Australia rose to 51,574 in 2022 from 50,446 in 2021. Thus, the adoption of metal additive manufacturing technologies in the aerospace industry plays a crucial role in fuelling the demand in the metal additive manufacturing market.
How Is The Global Metal Additive Manufacturing Market Divided Into Key Segments?
The metal additive manufacturing market covered in this report is segmented –
1) By Type: Selective Laser Melting (SLM), Electron Beam Melting (EBM), Powder Bed Fusion, Sheet Lamination, Directed Energy Deposition, Binder Jetting
2) By Component: System, Materials, Services And Parts
3) By Application: Automotive Industry, Aerospace Industry, Healthcare And Dental Industry, Tools And Mold, Academic Institutions, Other Applications
Subsegments:
1) By Selective Laser Melting (SLM): Metal Powder SLM, Alloy SLM
2) By Electron Beam Melting (EBM): Titanium EBM, Cobalt-Chromium EBM
3) By Powder Bed Fusion: Laser Powder Bed Fusion, Electron Beam Powder Bed Fusion
4) By Sheet Lamination: Laminated Object Manufacturing (LOM), Ultrasonic Additive Manufacturing (UAM)
5) By Directed Energy Deposition: Laser Directed Energy Deposition, Arc-Based Directed Energy Deposition
6) By Binder Jetting: Metal Binder Jetting, Composite Binder Jetting
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What Trends Are Reshaping The Future Of The Metal Additive Manufacturing Market?
The key emerging trend in the metal additive manufacturing market is the incorporation of robots into additive manufacturing processes. Major corporations in the metal additive manufacturing market sphere are keen on adopting robotic technologies for enhancing productivity and inflating their market presence. For instance, ADDiTEC, an American metal additive manufacturing (AM) solutions and applications firm, premiered the AMRC-P (additive manufacturing robot cell-portable), an efficacious, fully-automated robotic metal AM system in November 2022. This AMRC-P system can be adapted to any industrial robot to cater to a business's specific needs. The system incorporates advanced software tools to facilitate complex multi-axis structures, simplifying printing for both expert users and novices. Furthermore, the software is customizable, thereby allowing clients to meet all their parameter specifications.
Who Are the Key Players in the Metal Additive Manufacturing Market?
Major companies operating in the metal additive manufacturing market include:
• Trumpf Inc.
• Lincoln Electric Additive Solutions
• DMG Mori Seiki Co. Ltd.
• Hoganas AB
• EOS GmbH
• Renishaw PLC
• Stratasys Ltd.
• Materialise NV
• Desktop Metal Inc.
• SLM Solutions Group AG
• Markforged Inc.
• FormLabs Inc.
• The ExOne Co.
• AddUp Solutions SAS
• Voxeljet AG
• Optomec Inc.
• SISMA SpA
• Additive Industries B.V.
• 3DEO Inc.
• GE Additive
• Triditive SL
• Farsoon Technologies Co. Ltd.
• XJet Ltd.
• Sciaky Inc.
• Norsk Titanium AS
• Titomic Ltd.
• Wuhan Huake 3D Technology Co. Ltd.
• Xact Metal
• XiAn Bright Laser Technologies Co. Ltd.
• 3D Systems Inc.
What are the Regional Insights into the Metal Additive Manufacturing Market?
North America was the largest region in the metal additive manufacturing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the metal additive manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
