U.S. 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
U.S. Additive Manufacturing (AM) Market was valued at USD 5.64 billion in 2022, and is predicted to reach USD 22.26 billion by 2030, with a CAGR of 18.7% from 2023 to 2030. Additive manufacturing, also known as additive layer manufacturing (ALM) or 3D printing, is a computer-controlled technique for constructing three-dimensional objects by depositing materials layer by layer. This process relies on data, computer-aided design (CAD) software, or 3D object scanners to precisely guide the hardware in shaping the materials. Prior to initiating the additive manufacturing process, a design is created using CAD software or by scanning an existing object that needs to be printed. The software then translates the design into a step-by-step blueprint that the additive manufacturing machine follows. Once the blueprint is transferred to the 3D printer, the object's fabrication begins immediately. The actual duration of the additive manufacturing process can vary, ranging from several hours to several days, depending on the size of the object being produced.
Additive Manufacturing in the Automotive Industry: Accelerating Prototyping and Design Validation
The growth of the additive manufacturing market can be attributed to the presence of automotive manufacturing companies such as Tesla, Volkswagen, and General Motors, which use 3D printing or additive manufacturing to showcase new vehicle designs and concepts. In the production process of a car, prototyping is a crucial step; thus, rapid prototyping in the pre-manufacturing stage is made possible by using 3D printing. Large and detailed parts can be validated and tested using AM, which is the most suitable method for validating prototypes. For instance, in September 2022 Tesla announced that it has used FDM 3D printing to produce spare parts for the Tesla Model so that it can address the manufacturing fault in the Model Y and start its production procedure.
Pharmaceutical Companies Driving the Additive Manufacturing Market in Medical Applications
The presence of a large number of pharmaceutical companies that allows them to produce new surgical cutting and drill guides, prosthetics, and patient-specific copies of bones, organs, and blood arteries via 3D printing propels the growth of the additive manufacturing market. For instance, in November 2021, in Singapore, the National University Hospital (NUH) announced collaboration with Johnson & Johnson (J&J) in hospital to launch a 3D Printing Point of Care lab for improving patient care capability and enhancing personalized healthcare. The Singapore Economic Development Board (EDB) supported this initiative to accelerate healthcare innovation in Singapore.
High-Cost Restraining Additive Manufacturing in U.S.
The initial investment required for setting up additive manufacturing infrastructure, including 3D printers, materials, and software, can be substantial. This cost barrier can restrain the adoption of additive manufacturing, particularly for small and medium-sized enterprises (SMEs) with limited financial resources.
Technological Advancements in Additive Manufacturing Market
The additive manufacturing market has experienced significant growth, due to continuous advancements in technology. These advancements encompass various aspects, including improved printer capabilities, enhanced materials, and more efficient post-processing techniques. Such progress has brought about higher-quality outputs, accelerated production times, and expanded possibilities for application across industries. Consequently, these advancements have generated abundant opportunities for the additive manufacturing market, attracting increased adoption.
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 U.S.
For instance, in June 2022, Defiant3D, a manufacturer of Additive Manufacturing machines located in Aberdeenshire, Scotland, has introduced its inaugural metal AM machine, known as the Defiant200. Utilizing an innovative Cold Deposit and Sinter technology, this newly launched machine is positioned in the market as a cost-effective gateway to metal Additive Manufacturing.
KEY BENEFITS
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The U.S. 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 U.S. 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.
U.S. 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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