Canada Additive Manufacturing (AM) Market by Technology (Stereolithography, Fused Deposition Modeling, Selective Laser Sintering, Direct Metal Laser Sintering, Polyjet Printing, Inkjet Printing, Electron Beam Melting, Laser Metal Deposition, Digital Light Processing, Laminated Object Manufacturing, and Others) by Printer Type (Desktop 3D Printer and Industrial 3D Printer) by Material (Polymer, Metal, and Ceramic) by Application (Prototyping, Tooling, and Functional Parts) by Component (Hardware, Software, and Services) and by End-User (Industrial Additive Manufacturing and Desktop Additive Manufacturing) – Opportunity Analysis and Industry Forecast 2023–2030
Industry: Semiconductor & Electronics | Publish Date: 25-Jul-2023 | No of Pages: 75 | No. of Tables: 62 | No. of Figures: 29 | Format: PDF | Report Code : N/A
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Market Definition
Canada Additive Manufacturing (AM) Market was valued at USD 1.04 billion in 2022, and is predicted to reach USD 4.67 billion by 2030, with a CAGR of 20.6% from 2023 to 2030. Additive manufacturing (AM), also known as additive layer manufacturing (ALM) or three-dimensional (3D) printing is a computer-controlled process that creates 3D objects by depositing materials, usually in layers. This process was also known as rapid prototyping because it enabled to create a scale model of the final object quickly, without the regular arrangement interaction and costs associated with making a model. Additive manufacturing uses data, computer-aided design (CAD) software or 3D object scanners to direct hardware for depositing materials layer upon layer, in precise geometric shapes. In order to create an object using additive manufacturing, a design must be created first.
This is typically done using CAD software, or by taking a scan of the object, which is to be printed. Then the design is translated by software into a layer-by-layer framework for the additive manufacturing machine to follow. This framework is sent to the 3D printer, which begins creating the object immediately. The actual process of additive manufacturing can be done in a number of ways, which can take from several hours to several days, depending on the object’s size. Depending on the ALM printing process and application, this process can utilize a growing catalog of materials including metal alloys, thermoplastics, thermoset polymers, and composites.
High Adoption of 3D Digital Printing or Additive Manufacturing in Canada
The widespread adoption of 3D digital printing in the architecture and construction sector, by utilizing technology is expected to boost the growth of the additive manufacturing market. As the architecture and construction sector can efficiently create structures and concept models, resulting in faster construction timelines and reduced material waste.
Government Initiatives Boosting Additive Manufacturing Growth in Canada
The rising Canadian government’s initiatives to develop the additive manufacturing industry drives the growth of the market. For instance, in March 2022, Canada Economic Development for Quebec Regions (CED) announced a non?repayable contribution of USD 3,625 over three years to support a virtual networking platform dedicated to helping Quebec manufacturers. This new platform will increase awareness of additive manufacturing in Quebec and the development programs and services available in the field.
High-Cost Restraining Additive Manufacturing in Canada
The substantial initial investment required for infrastructure, including 3D printers, materials, and software, acts as a significant cost barrier. SMEs with limited financial resources find it challenging to embrace additive manufacturing fully. Thus, it is expected to restrain the growth of the additive manufacturing market.
Technological Advancements in Additive Manufacturing Market in Canada
Continuous technological advancements have propelled significant growth in the additive manufacturing market. These advancements span multiple areas, including enhanced printer capabilities, improved materials, and more efficient post-processing techniques. As a result of these progressions, the market has witnessed the production of higher-quality outputs, faster production times, and expanded application possibilities across various industries. The continuous evolution of additive manufacturing technology has created ample opportunities for market expansion, attracting increased adoption and utilization.
Competitive Landscape
The additive manufacturing industry includes several market players such as Stratasys, Markforged Holding Corporation, Desktop Metal Inc., Velo3d, Inc., Formlabs Inc., Protolabs., Xometry Inc., Shapeway Holdings Inc., D Systems, General Electric. These market players are adopting various strategies such as product launches to maintain their dominance in the market of Canada.
Key Benefits
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The Canada additive manufacturing market report provides a quantitative analysis of the current market and estimations through 2023-2030 that assists in identifying the prevailing market opportunities to capitalize on.
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The study comprises a deep dive analysis of the market trend including the current and future trends for depicting the prevalent investment pockets in the market.
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The information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.
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The competitive analysis of the market players along with their market share in the Canada additive manufacturing market.
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The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
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Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
Canada Additive Manufacturing Market Key Segments
By Technology
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Stereolithography
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Fused Deposition Modeling
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Selective Laser Sintering
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Direct Metal Laser Sintering
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Polyjet Printing
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Inkjet Printing
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Electron Beam Melting
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Laser Metal Deposition
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Digital Light Processing
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Laminated Object Manufacturing
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Others
By Printing Type
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Desktop 3D Printer
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Industrial 3D Printer
By Material
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Polymer
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Metal
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Ceramic
By Application
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Prototyping
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Tooling
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Functional Parts
By Component
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Hardware
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Software
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Design Software
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Inspection Software
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Printer Software
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Scanning Software
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Services
By End-User
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Industrial Additive Manufacturing
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Automotive
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Aerospace and Defense
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Healthcare
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Consumer Electronics
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Power and Energy
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Others
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Desktop Additive Manufacturing
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Educational Purpose
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Fashion and Jewelry
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Objects
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Dental
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Food
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Others
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Key Players
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Stratasys
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Markforged Holding Corporation
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Desktop Metal Inc.
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Velo3d, Inc.
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Formlabs Inc.
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Protolabs.
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Xometry Inc.
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Shapeway Holdings Inc.
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D Systems
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General Electric
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