South Korea 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: 27-Jul-2023 | No of Pages: 77 | No. of Tables: 62 | No. of Figures: 29 | Format: PDF | Report Code : N/A
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Market Definition
South Korea Additive Manufacturing (AM) Market was valued at USD 0.25 billion in 2022, and is predicted to reach USD 1.51 billion by 2030, with a CAGR of 25.1% from 2023 to 2030. Additive manufacturing, commonly referred to as 3D printing, is a manufacturing technology that involves the layer-by-layer construction of objects using various materials. A computer controls this process by utilizing data from CAD software or 3D object scanners to direct the machines in shaping the materials. To initiate the additive manufacturing process, a design is essential, which can be created through CAD software or by scanning an existing object. Subsequently, the software converts the design into a comprehensive blueprint, providing precise instructions to the 3D printer. Once the blueprint is transmitted, the actual production of the object commences. The duration required to complete the additive manufacturing process varies based on the size of the object, with smaller items typically being manufactured more efficiently and within a shorter timeframe.
Government Support and Investment Driving Additive Manufacturing Growth in South Korea
The South Korean government has been actively supporting additive manufacturing initiatives through policies, funding, and research grants. The government recognizes the potential of this technology in various industries and has implemented measures to promote its adoption and development. For instance, in 2021, the Korean government invested about USD 86 million in the 3D printing industry.
Enhanced Manufacturing Competitiveness through Additive Manufacturing in South Korea
South Korea boasts a thriving manufacturing sector, especially in industries like automotive, electronics, and aerospace. Additive manufacturing has emerged as a catalyst for enhancing manufacturing competitiveness in these sectors. By enabling the production of complex geometries, facilitating rapid prototyping, and enabling on-demand production, additive manufacturing has opened up new opportunities. Consequently, there has been a notable increase in the adoption of additive manufacturing in these key industries, contributing to a significant growth of additive manufacturing in South Korea.
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 South Korea 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 South Korea 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.
SOUTH KOREA 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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3D Systems
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General Electric
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