New York, NY -- (SBWIRE) -- 02/01/2021 -- Increasing adoption of Additive Manufacturing in automotive and aerospace industry is projected to stimulate market demand.

Market Size – USD 7.97 billion in 2018, Market Growth - CAGR of 14.4%, Market Trends – Development of new and improved 3D Printing technologies and materials

The global Additive Manufacturing Market is expected to reach USD 23.33 billion by 2026, growing at a high rate of 14.4%, according to a new report by Reports and Data. Increasing government support to enhance additive manufacturing technology across various regions is a key factor influencing market demand. For instance: America Makes, the leading national program in the US, that has been exclusively committed for research in additive manufacturing (3D printing technology), was supported by a USD 90 million financing from the government and business and non-benefit divisions.

Additive manufacturing has several advantages such as lower resource requirement, faster production cycle, flexible design, and substantial savings on tooling over traditional manufacturing technologies such as injection molding, Computer Numerical Control (CNC) machining, and vacuum casting. After more than 25 years of development, the market is finally moving into the production phase. Over the forecasted period, businesses alongside the price chain in a variety of industries are now trying hard to capitalize on this fast-paced market. Different metals such as titanium, steel, nickel, aluminum, and cobalt alloys which have various properties are used to make high-performance parts, specifically in the aerospace industry.

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Some of the players profiled in the report are key players

Further key findings from the report suggest

- AM materials such as Metals and Thermoplastics acquired the largest share in the market with revenues of USD 3.7 billion and USD 3.4 billion respectively, in 2018.
- Stereolithography technology dominated the AM market with a value of 1.1 billion n 2018.
- Manufacturing industry is expected to benefit largely with the application of AM technology during the forecast period, with a whopping 33% market share by 2026.
- The medical industry is projected to be among one of the fastest growing application of the Additive Manufacturing with a CAGR of 16.1%. Medical equipment manufacturers are using the wide scope of high-quality and biocompatible 3D printing materials to create tissues and organoids, surgical tools, patient-specific surgical models and custom-made prosthetics.
- The North American region is dominated the market in 2018, with a share of 43% in 2018. Presence of AM industry giants in the region supports the growth of technology and number of patents.
- Asia-Pacific region is projected to grow at the highest rate of 18% from 2018-2026, owing to an untapped market with a large consumer base and increasing disposable income.

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The Global Additive Manufacturing Market is segmented as follows:

Material Outlook (Revenue, USD Billion; 2017-2027)
- Metal
- Thermoplastic
- Ceramic
- Others

Metal Outlook (Revenue, USD Billion; 2017-2027)
- Titanium
- Stainless Steel
- High-Performance Alloys
- Aluminum
- Precious Metals
- Others

Polymer Outlook (Revenue, USD Billion; 2017-2027)
- Acrylonitrile Butadiene Styrene (ABS)
- Polylactic Acid (PLA)
- Polycarbonate (PC)
- Polyvinyl Alcohol (PVA)
- Others

Ceramic Outlook (Revenue, USD Billion; 2017-2027)
- Silica/ Glass
- Porcelain
- Silicon Carbide
- Others

Process Outlook (Revenue, USD Billion; 2017-2027)
- Computer-Aided Design
- Stereolithography
- Fused Filament Fabrication
- Binder Jetting
- Material Jetting
- Powder Bed Fusion
- Material Extrusion
- Others

End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Aerospace
- Medical
- Manufacturing
- Automotive
- Construction
- Others

Market Segmentation by Regions:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Point Summary of the Report:

The global Additive Manufacturing market research report is an investigative study offering key insights into the latest growth trends, developments, technological and product advancements, and the research and development scenario. The report also covers the market aspects that directly influence the growth of the market. These features include strategies undertaken by the prominent players, their expansion tactics, and the product portfolios of the companies, and micro and macro-economic factors.

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Key Coverage of the Additive Manufacturing Market:

- Insightful information regarding the global Additive Manufacturing market
- Identification of growth in various segments and sub-segments of the Additive Manufacturing market
- Strategic recommendations for investment opportunities
- The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
- Emerging trends and current market segment analysis to help investors formulate new business strategies
- Accelerates the decision-making process through the availability of the drivers and limitations

Global Additive Manufacturing Market: Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Additive Manufacturing Market Segmentation & Impact Analysis

Continued……….

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