Latin America 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: 28-Jul-2023 | No of Pages: 78 | No. of Tables: 62 | No. of Figures: 29 | Format: PDF | Report Code : N/A
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Market Definition
Latin America Additive Manufacturing (AM) Market was valued at USD 0.47 billion in 2022, and is predicted to reach USD 2.30 billion by 2030, with a CAGR of 21.8% from 2023 to 2030. Additive manufacturing, commonly known as 3D printing, is a manufacturing technique that involves the gradual construction of objects by layering different materials. The process is guided by a computer, which uses data from CAD software or 3D object scanners to shape the materials precisely. To begin the additive manufacturing process, a design is required, which can be created using CAD software or by scanning an existing object. The software then translates the design into a detailed blueprint that provides specific instructions to the 3D printer. Once the blueprint is transferred, the actual production of the object begins. The time required to complete the additive manufacturing process varies based on the object's size, with smaller items generally being produced more efficiently and in less time.
Brazil's Dominance in Latin America's 3D Printing Market Driven by Industry Acceptance and Metal Applications
Brazil captures the major share in Latin America 3D printing, primarily owing to growing acceptance of the technique among various industry verticals such as automotive, and aerospace and defence. This is attributed to the rising applications for 3D-printed metal parts, rising demand for high-performance metals, and widespread use and production of products based on 3D printing technology in this country. For instance, in February, 2020, INMETRO, a Brazilian standards organization signed a partnership agreement with FARCCO Tecnologia Industrial, a local AM company with the express goal to speed up the adoption and implementation of additive manufacturing in Brazil’s industrial sectors.
Rising Momentum of Additive Manufacturing in Latin America's Healthcare Sector Driven by Investments and Innovations
Latin America is poised to gain momentum in the additive manufacturing market, particularly in the healthcare sector, due to significant investments and innovations taking place in the region. The healthcare industry in Latin America is witnessing a transformation driven by advancements in medical technology and a growing focus on providing high-quality healthcare service. For instance, researchers from the National Scientific and Technical Research Council (CONICET) and the National University of La Plata in Argentina developed a 3D bioprinting system that can incorporate the 4th axis. This new 3D printer enables the additive manufacturing of more complex cylindrical, tubular, or helical mesh structures. These factors are positively impacting the market growth in Latin America.
Cost Restraints in Additive Manufacturing
The cost of additive manufacturing technologies, including printers, materials, and post-processing equipment is relatively high compared to traditional manufacturing methods. This cost factor may limit the accessibility and adoption of additive manufacturing, particularly for small and medium-sized businesses, which is expected to restrain the growth of the market.
Technological Advancements in Additive Manufacturing Market
Continuous advances in additive manufacturing technology, such as greater printer capabilities, improved materials, and more efficient post-processing procedures, have supported industry expansion. These developments allow for improved quality, faster production, and more application options, driving more sectors to adopt additive manufacturing. As a result, it is expected to create ample opportunities for the future.
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.
KEY BENEFITS
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The Latin America 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 Latin America 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.
LATIN AMERICA 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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