New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Additive Manufacturing Global Market Report 2023" - https://www.reportlinker.com/p06464095/?utm_source=GNW
, CleanGreen 3D, Optomec Inc., MakerBot Industries LLC, ANSYS Inc., Hoganas AB, Arburg GmbH, Renishaw Plc., Yamazaki Mazak Corporation, Markforged, Proto Labs, EnvisionTEC US LLC, Ultimaker BV, American Additive Manufacturing LLC, Greatbarch Inc., Biomedical Modeling Inc., GPI Prototype & Manufacturing Services Inc., Morries Technologies Inc., Made In Space Inc., Canon Inc., and Voxeljet AG.
The global additive manufacturing market is expected to grow from $13.16 billion in 2022 to $16.06 billion in 2023 at a compound annual growth rate (CAGR) of 22.0%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The additive manufacturing market is expected to reach $34.22 billion in 2027 at a CAGR of 20.8%.
The additive manufacturing market includes revenues earned by entities by providing additive manufacturing services such as technical consulting, design, post-processing, and custom material development.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Additive manufacturing refers to the method of combining materials to create three-dimensional items using three-dimensional (3D) model data.Layer after layer is added in additive manufacturing till the product is finished.
The majority of the time, additive manufacturing employs only the materials required for the component, drastically reducing production waste.
North America was the largest region in the additive manufacturing market in 2022. The regions covered in the additive manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main technologies involved in additive manufacturing are stereolithography, polyjet printing, binder jetting printing, laser sintering, electron beam melting, fused deposition modelling, laminated object manufacturing, thermal dimensional printing, and others.Stereolithography (SLA) refers to an additive manufacturing technique it creates durable prototypes, patterns, and items from CAD blueprints.
Plastics, metals, ceramics, and other materials are used in additive manufacturing for various applications in aerospace, automotive, consumer products, healthcare, government & defense, industrial or business machines, education and research, and other industries.
The increasing demand for 3D printing is expected to propel the growth of the additive manufacturing market going forward. The method of creating three dimensional solid objects from a digital file is known as 3D printing. 3D printing helps additive manufacturing by making a cost-effective and flexible way to produce customized parts and used for preoperative planning. For instance, according to AZoNetwork UK Ltd., a UK-based marketing science company, a little over 2.2 million 3D printers were shipped in 2021, and by 2030, there will be a shipment of 21.5 million 3D printers. Therefore, increasing demand for 3D printing is driving the growth of the additive manufacturing market.
Technological innovation is a key trend gaining popularity in the additive manufacturing market.Companies operating in the additive manufacturing market are introducing new technologies to develop their business in the market.
For instance, in March 2021, Stratasys, Ltd., an Israel-based 3D printer manufacturing company, launched powder bed fusion technology. Powder bed fusion technology is an additive manufacturing technique, which forms parts by adding material rather than by deleting it during traditional forming procedures like milling.
In January 2021, Protolabs, a US-based 3D printing manufacturing company acquired 3D Hubs for undisclosed amount. This deal is about to build the largest digital manufacturing platform in the world that provides the most comprehensive range of manufacturing services with the aid of a worldwide network of elite manufacturing suppliers. 3D hubs is a Netherlands-based network of manufacturing partners that is accessible to companies through an online manufacturing platform on demand.
The countries covered in the additive manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The additive manufacturing market research report is one of a series of new reports that provides additive manufacturing market statistics, including additive manufacturing industry global market size, regional shares, competitors with an additive manufacturing market share, detailed additive manufacturing market segments, market trends, and opportunities, and any further data you may need to thrive in the additive manufacturing industry. This additive manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464095/?utm_source=GNW
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