Additive Manufacturing Market Size Set to Attain Revenue Worth USD 74.21 billion by 2031, Projected Growth at 15.71%: Kings Research

Additive Manufacturing Market was valued at USD 24.38 billion in 2023 and is projected to grow from USD 27.60 billion in 2024 to USD 74.21 billion by 2031, exhibiting a CAGR of 15.17% during the forecast period. The market is expanding rapidly as industries actively explore new possibilities for enhancing production efficiency and design innovation.

Key Industry Development

  • March 2023 (Partnership): Merz Dental, a leader in digital dentistry, partnered with Nexa 3D, a pioneer in polymer 3D printing. This collaboration aims to support Nexa 3D’s customers across Germany. Renowned for its speed and precision, Nexa 3D’s printing platform enhances a range of professional and dental desktop 3D printing applications, including orthodontic models, splints, and surgical guides.


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List of Key Companies in Additive Manufacturing Market:

  • 3D Systems

  • 3DCeram

  • Autodesk

  • Canon

  • Dassault Systemes

  • ENVISIONTEC US LLC

  • ExOne

  • General Electric Company

  • HP Development Company

  • Materialise NV


Key Market Trends:

Technological Advancements: The AM market is continuously evolving, with new technologies emerging to enhance production capabilities. Innovations in materials, such as the development of high-performance polymers and metal alloys, have expanded the range of applications for additive manufacturing. Additionally, advancements in software and hardware, including more precise 3D printers and sophisticated design tools, are enabling manufacturers to create complex geometries and intricate designs that were previously impossible.

Customization and Personalization:One of the most significant advantages of additive manufacturing is its ability to produce customized products tailored to individual needs. From medical implants to aerospace components, industries are increasingly leveraging AM to create bespoke solutions that meet specific requirements. This trend is particularly evident in the healthcare sector, where patient-specific implants and prosthetics are becoming more common, improving patient outcomes and quality of life.

Sustainability and Efficiency:Additive manufacturing offers several environmental benefits compared to traditional manufacturing methods. By reducing material waste and minimizing the need for multiple production steps, AM contributes to more sustainable production processes. Furthermore, the ability to produce parts on-demand reduces the need for large inventories, lowering storage costs and minimizing the carbon footprint associated with transportation.

Conclusion:

The additive manufacturing market is on the cusp of a new era, with advancements in technology, materials, and processes driving its growth. As industries continue to seek innovative solutions to meet the demands of the modern world, additive manufacturing is poised to play an increasingly important role in shaping the future of production. With the support of governments, the continued investment in research and development, and the expansion into new sectors, the AM market is set to thrive in the coming years.

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