Global Industrial Additive Manufacturing Growth Analysis - Market Size, Share, Forecast Trends and Outlook Report (2024-2032)

Industrial Additive Manufacturing Market Growth

Additive manufacturing, variously known as AM or 3D printing, refers to the process that creates 3D components using computer-aided design (CAD). It is used in activities such as prototyping, building fixtures and toolings, production of low-volume end-use parts, and design validation, among others.

The growth of the industrial additive manufacturing market is driven by the growing usage of 3D printing technology to develop functional prototypes rapidly and affordably during product testing and development. Besides, additive manufacturing is witnessing an increased implementation in end-use part manufacturing to reduce production outsourcing and labour requirements, streamline design proceedings, and lower production time.

The growing focus on sustainability in manufacturing activities is also significantly driving the market growth. Companies are turning to additive manufacturing as a sustainable production method that can reduce waste while minimising the weight of end products.  AM can also be used as part of a decentralised and on-demand warehouse, lowering requirements for inventory parts.

Industrial Additive Manufacturing Market Trends

The development of eco-friendly materials made from natural and biodegradable substances such as corn and agricultural waste is further likely to bolster market development in the forecast period.

A crucial trend of industrial additive manufacturing market is advancements in 3D printing technologies supporting enterprises to meet stringent performance requirements and standards are positively impacting the industrial additive manufacturing market demand. Moreover, the development of innovative industrial-grade 3D printers that can handle advanced materials is anticipated to surge industrial additive manufacturing activities in a broad range of applications in the coming years.

Businesses are also leveraging the benefits of industrial additive manufacturing to enhance the flexibility and efficiency of production, reduce the reliance of components on transportation infrastructure, digitise inventory, and create stronger, shorter, and more resilient supply chains.

Recent Developments

As per the industrial additive manufacturing market dynamics and trends, the Ministry of Electronics and Information Technology (MeitY) in India announced the launch of the first National Additive Manufacturing Symposium (NAMS) as a step towards advanced manufacturing technologies.

Industry Outlook

As per the industrial additive manufacturing industry analysis, the AMA Policy Research stated that the United States spent around USD 4,464.4 billion on the healthcare sector in 2022. The majority of the healthcare spending was in the hospital care segment, followed by physician services, and clinical services. This positive trend was expected to boost the demand for industrial additive manufacturing services as it is widely used in dentistry for the manufacture of bridges, crowns, and dentures, among other related orthodontics products.

The ICCT’s European Vehicle statistics for 2023-24 stated that the EV passenger car market share reached a growth rate of 22% in EU in 2022. Norway was the leading country in the battery EV car segment with 65%, followed by the Netherlands at 20%. This positive outlook in the region further contributed to the growth of the industrial additive manufacturing industry as it can reduce automakers' dependence on a wide range of tools.

The Growth of the Global Market Drive by Technological Advancements and Customization Demand

• Technological Advancements: Continuous innovations in additive manufacturing technologies enhancing precision, speed, and material range.
• Customization Demand: Increasing demand for customized industrial components across various sectors such as aerospace, automotive, and healthcare.
• Cost Efficiency: Reduction in manufacturing costs due to less material waste and lower labour costs can impact industrial additive manufacturing demand growth.
• Rapid Prototyping: Ability to quickly produce prototypes for testing and development purposes.
• Design Flexibility: Enhanced design flexibility allowing for complex geometries and integrated functionalities.

Challenges Impacting the Growth of the Global Market Include Material Limitations and Standardization Issues

• Material Limitations: Limited availability and high cost of specialized materials suitable for additive manufacturing.
• Standardization Issues: Lack of industry standards and regulations leading to inconsistencies in quality and performance.
• Technical Expertise: Requirement for high technical expertise and skilled workforce to operate additive manufacturing equipment can affect the industrial additive manufacturing demand forecast.
• Production Speed: Slower production speed compared to traditional manufacturing methods for large-scale production.
• Initial Investment: High initial investment costs for additive manufacturing equipment and technology.

Opportunities in the Global Market Driven by Emerging Applications and Market Expansion

• Emerging Applications: Growing applications in emerging fields such as medical implants, aerospace components, and custom automotive parts.
• Market Expansion: Expansion into new markets and industries with increasing adoption of additive manufacturing technologies.
• Partnerships and Collaborations: Opportunities for partnerships and collaborations to enhance technological capabilities and market reach can boost industrial additive manufacturing market value.
• Eco-Friendly Solutions: Development of eco-friendly and sustainable additive manufacturing materials and processes.
• Government Support: Increasing government support and funding for research and development in additive manufacturing technologies.

Setbacks Faced by the Global Market Due to Economic Uncertainties and Technological Barriers

• Economic Uncertainties: Economic fluctuations and uncertainties impacting investment and adoption rates.
• Technological Barriers: Ongoing technological challenges in achieving desired precision and reliability.
• Intellectual Property Issues: Concerns over intellectual property rights and potential for counterfeiting.
• Market Awareness: Limited awareness and understanding of additive manufacturing among potential users can affect industrial additive manufacturing market opportunities.
• Competition: Intense competition from traditional manufacturing methods and other emerging technologies.

Materials Used in Additive Manufacturing

Additive manufacturing employs various materials, including biochemicals, ceramics, metals, and thermoplastics.

• Biochemicals: These include silicon, calcium phosphate, and zinc, as well as bio-inks from stem cells, mainly used in healthcare applications.
• Ceramics: Materials like alumina, tricalcium phosphate, zirconia, and powdered glass, which can be combined with adhesives and baked to create new glass products.
• Metals: A wide range of metals and alloys such as gold, silver, stainless steel, and titanium, used for applications ranging from jewelry to aerospace components can boost industrial additive manufacturing market revenue.
• Thermoplastics: Commonly used thermoplastics include acrylonitrile butadiene styrene, polylactic acid, polycarbonate, and water-soluble polyvinyl alcohol, each offering specific advantages and applications.    

Industrial Additive Manufacturing Industry Segmentations

Industrial Additive Manufacturing Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Based on material type, the market segmentation includes metals, polymers, and ceramics, among others. On the basis of technology, the market can be divided into binder jetting, material extrusion, powder bed fusion, and material jetting, among others.

By end use, the industrial additive manufacturing industry is categorised into aerospace, industrial, medical and healthcare, automotive, electrical and electronics, and building and construction, among others. The major regional markets for industrial additive manufacturing include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Industrial Additive Manufacturing Market Share

By Material Type

Metal holds a significant portion of the market share as it can efficiently create complex and high-performance components. Metals like steel and titanium are widely used in additive manufacturing to develop high-performance industrial parts.

As per the industrial additive manufacturing market analysis, due to their high resistance to extreme temperature and stress, high-performance polymers are extensively used to develop complex geometries with premium quality. Polylactic acid (PLA) is one of the most widely used polymers in 3D printing as it undergoes minimal contraction and expansion during cooling and heating and boasts excellent performance.

By End Use

Aerospace manufacturers are increasingly deploying 3D printing to design and develop high-performance materials that can endure extreme environmental conditions. The requirement for complex and precise yet lightweight components such as combustor liners, environmental control systems (ECS) ducting, and rocket engine components, among others, is further boosting the demand of industrial additive manufacturing market.

In the forecast period, rising attempts to lower greenhouse gas emissions from the aerospace sector are anticipated to aid the market demand.

Competitive Landscape

Stratasys Ltd. is a leading additive manufacturing company that offers innovative 3D printing solutions for use in sectors like automotive, healthcare, aerospace, consumer products, and education, among others. The company aims to support different sectors to adopt 3D printing solutions for large-scale industrial production activities.

3D Systems, Inc., established in 1986, is a prominent additive manufacturing company that supports customers in developing physical products at a digital pace. Its unique offerings include software, services, hardware, and materials that collaborate with customers. Its solutions address various applications in the defence, medical, durable goods, automotive, and dental sectors.

Envisiontec US LLC is a pioneer in digital light processing (DLP) 3D printing technology and a renowned provider of professional-grade 3D printing solutions in the industrial additive manufacturing industry. It boasts advanced portfolios of precision polymer printers and materials. Its solutions are used in different sectors, including medical devices, automotive, jewellery, and aerospace, among others.

Other market players include General Electric Company, EOS GmbH, ExOne Operating, LLC, Materialise NV, Optomec, Inc., SLM Solutions Group AG, and Fathom, among others.

Industrial Additive Manufacturing Market Regional Analysis

North America accounts for a major industrial additive manufacturing market share due to the rapid deployment of the latest technologies in several end-use sectors including additive manufacturing as well as growing investments by the prominent market players.

Key Price Indicators of the Global Market for Industrial Additive Manufacturing

• Material Costs: Prices of specialized materials required for additive manufacturing.
• Equipment Costs: Cost of additive manufacturing machines and associated technologies.
• R&D Investment: Expenses related to research and development for new materials and technologies.
• Energy Costs: Energy consumption costs during the additive manufacturing process.
• Labor Costs: Costs associated with skilled labour required to operate and maintain additive manufacturing equipment can affect industrial additive manufacturing demand.
• Maintenance Costs: Ongoing maintenance and repair costs for additive manufacturing machinery.
• Regulatory Compliance Costs: Expenses related to meeting industry standards and regulatory requirements.