Industry: Construction & Manufacturing | Publish Date: 08-Nov-2024 | No of Pages: 138 | No. of Tables: 102 | No. of Figures: 67 | Format: PDF | Report Code : CM647
Canada Additive Manufacturing Market size was valued at USD 243.7 million in 2023, and is predicted to reach USD 1061.3 million by 2030, at a CAGR of 21.9% from 2024 to 2030. In terms of volume, the market size was 10 thousand units in 2023, and is projected to reach 49 thousand units by 2030, with a CAGR of 23.9% from 2024 to 2030.
The additive manufacturing (AM) market, also known as additive layer manufacturing (ALM) or three-dimensional (3D) printing, represents the global industry dedicated to the development, production, and distribution of technologies and materials used to create three-dimensional objects layer by layer from digital models. This market serves various sectors, including aerospace, automotive, healthcare, and consumer goods, offering innovative solutions for prototyping, production, and custom manufacturing.
AM is renowned for its ability to produce highly complex and customized components with minimal material waste, leading to significant cost savings and environmental benefits. A key feature of this market is the diversity of printing technologies available, such as stereolithography (SLA), selective laser sintering (SLS), and fused deposition modeling (FDM), each tailored to specific industry needs and applications. Additionally, the rapid prototyping capability of AM accelerates product development cycles, allowing businesses to innovate and bring products to market faster than traditional manufacturing methods.
The substantial presence of the aerospace industry, home to major players such as Bombardier and Pratt & Whitney, significantly drives the Canada additive manufacturing market growth. Aerospace companies are increasingly adopting AM for the production of lightweight, complex, and customized components, including engine parts, brackets, and interior components. These innovations aim to enhance fuel efficiency, reduce aircraft weight, and improve overall performance.
According to the International Trade Administration (ITA) report 2023, Canada ranks first in civil flight simulator production, third in civil engine production, and fourth in civil aircraft production globally. Moreover, the aerospace industry contributes approximately USD 20.8 billion to Canada’s GDP. This extensive market presence underscores the necessity of adopting AM to further enhance aircraft performance and efficiency.
Government investment in manufacturing advancement in Canada drives the adoption of advanced technologies, such as 3D printing systems. Through targeted funding and supportive policies such as grants, tax incentives, and collaborative programs the government incentivizes businesses to invest in advanced manufacturing technologies. These initiatives aim to propel innovation, enhance productivity, and bolster the competitiveness of Canadian industries.
According to the latest report from the Canadian Manufacturing Technology Show, the Canadian government allocated approximately USD 177 million towards advanced manufacturing initiatives. This surge in governmental investment is accelerating the adoption of AM across industries, streamlining production processes, reducing costs, and fostering sustainable growth in Canada.
The considerable initial investment required for equipment, materials, and training presents a significant barrier to Canada additive manufacturing market expansion. This substantial financial outlay poses a major challenge for businesses, especially smaller ones, restricting their ability to enter the market or scale their operations.
Moreover, the ongoing costs associated with materials and training add to the overall expense. As a result, many businesses are reluctant to adopt AM technology due to these high upfront costs, that in turn hinders the growth of the additive manufacturing market.
The integration of Artificial Intelligence (AI) into additive manufacturing (AM) includes the potential to significantly expand the market by optimizing production processes, enhancing product design capabilities, and enabling the creation of highly customized and intricate objects. Through AI integration, companies can analyze extensive data gathered during the printing process such as material properties, printing parameters, and environmental conditions to identify patterns, optimize settings, and predict potential defects. This results in enhanced print quality and reduced waste.
The prominent key players operating in Canada additive manufacturing industry include 123Proto, Agile Manufacturing, Axis Prototype, Calgary 3D Printing, Forge Labs, PyroGenesis Canada Inc., AON 3D, Javelin Technologies Inc., Voltera Inc., Tinkerine Studios Ltd., and others.
Desktop 3D Printer
Industrial 3D Printer
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
Other Technology
Hardware
Software
Design Software
Inspection Software
Printer Software
Scanning Software
Services
Prototyping
Tooling
Functional Parts
Desktop Additive Manufacturing
Educational Purpose
Fashion & Jewellery
Objects
Dental
Food
Other Desktop Additive Manufacturing
Industrial Additive Manufacturing
Automotive
Aerospace & Defense
Healthcare
Consumer Electronics
Power & Energy
Other Industrial Additive Manufacturing
123Proto
Agile Manufacturing
Axis Prototype
Calgary 3D Printing
Forge Labs
PyroGenesis Canada Inc.
AON 3D
Javelin Technologies Inc.
Voltera Inc.
Tinkerine Studios Ltd.
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size Value in 2023 |
USD 243.7 million |
Revenue Forecast in 2030 |
USD 1061.3 million |
Growth Rate |
CAGR 21.9% from 2024 to 2030 |
Market Volume in 2023 |
10 thousand units |
Market Forecast in 2030 |
49 thousand units |
Volume Growth Rate |
CAGR of 23.9% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Million (USD) |
Growth Factors |
|
Companies Profiled |
10 |
Market Share |
Available for 10 companies |
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |