Rockville, MD -- (SBWIRE) -- 06/28/2019 -- Additive Manufacturing Platform Market Insights
There has been an imperative demand for an upgraded additive manufacturing platform to meet the perpetually changing dynamics and requisites of the industry. Additive manufacturing platforms have been gaining notable traction for the development and prototyping of complex parts, thereby reducing the individual production cost up to a large extent.
The global additive manufacturing platform market is anticipated to reach a value of US$ 1 Bn by the end of 2020. With the continuous evolution of technology, the additive manufacturing platforms have been boasting excellent and speedy product development competencies. Advent of emerging cloud manufacturing trends has attributed the convenience of access to numerous additive manufacturing resources with utmost cost-efficiency. However, the need to offer support from the product development process till printing is encouraging the manufacturers to develop 'state-of-the-art' platforms and enhance their desirability, which is expected to amplify the adoption of additive manufacturing platform in the forthcoming years.
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Additive Manufacturing Platform Market – Novel Developments
The additive manufacturing platform market sports a number of partakers which include Optomec, Stratasys Ltd., SLM Solutions Group AG, ExOne, EOS, 3D Systems, CRP Technology S.r.l., Concept Laser GmbH, CRS Holdings Inc., Arcam AB, General Electric, Renishaw, GE Additive, Digital Alloys, Desktop Metal, HP, Carbon, EnvisionTEC, Materialise NV, and MCor Technologies Ltd. Productive collaborations and strategic mergers & acquisitions have been the key strategies of the players operating in the additive manufacturing platform market.
In February 2018, Stratasys Ltd. announced the launch of metal additive manufacturing platform that provides excellent competency to its consumers with its efficacy to target short-run applications during the production process. The platform will find its applications in the industries such as metal foundries, machining, defense, aerospace, and automotive. With the help of this platform, the company will be able to deliver numerous means to its consumers to realize the value of additive manufacturing platform for the powder metallurgy applications and enjoy a notable presence in the market.
In January 2019, Origin joined forces with BASF to develop a printing process for the new photopolymers of BASF, which consists of a cutting-edge surface finish, performance, and strength. Collaboratively, both companies are striving to develop an exhaustive series of novel options for the manufacturers.
Additive Manufacturing Platform Market – Dynamics
Aerospace Industry Accounts for a Significant Share of the Additive Manufacturing Platform Market
In 2017, the aerospace sector contributed nearly 30% to the growing size of the additive manufacturing platform market, on the account of their rising need for lightweight components in space applications. The platform has enabled the players operating in the aerospace industry to develop intricate and efficient components, the production to which would have been difficult using the customary production processes. The current scope of the platform in the industry is to print various parts with utmost cost-efficiency. Being light weight in nature, the developed components also assist in economical consumption of fuel, thereby saving hefty fuel costs. As a result, the aerospace sector will continue being a significant contributor to the growth of the additive manufacturing platform market.
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Additive Manufacturing Platforms to find Emerging Applications in Healthcare Industry
There has been a notable demand for additive manufacturing in the operating rooms for allowing the development of customized implants for patients in the medical facilities, which will further broaden the scope of additive manufacturing platform in the healthcare industry.
Another crucial application of additive manufacturing platform in the healthcare industry is bioprinting. Convergence of technology with the medical infrastructure is expected to bear opportunities for the development of artificial human organs and transplants, which will generate a huge demand for additives manufacturing platforms. Given the inadequate understanding pertaining to the donation of human organs, printed human organs are expected to generate a favorable response, which will ultimately reflect on the size of the additive manufacturing platform market in the forthcoming years.
Automobile Industry to Witness Extensive Applications of Additive Manufacturing Platforms
The incessantly advancing automotive industry has shifted its focus on the development of light-weighted components, which in turn, could enhance the overall efficiency of an automotive. As a result, additive manufacturing platforms have been used as the primary technology for the development of prototypes and in turn making the entire production process time-efficient as well as cost-efficient. Recognizing the profit margins offered by the adoption of additive manufacturing platform, the leading players of the automobile industry have begun prototyping the components using such platforms, which will offer notable growth opportunities to the additive manufacturing platform market in the upcoming years.
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