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
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.
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.
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.
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.
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.
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.
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.
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.
The information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.
The competitive analysis of the market players along with their market share in the South Korea additive manufacturing market.
The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
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
Others
Desktop 3D Printer
Industrial 3D Printer
Polymer
Metal
Ceramic
Prototyping
Tooling
Functional Parts
Hardware
Software
Design Software
Inspection Software
Printer Software
Scanning Software
Services
Industrial Additive Manufacturing
Automotive
Aerospace and Defense
Healthcare
Consumer Electronics
Power and Energy
Others
Desktop Additive Manufacturing
Educational Purpose
Fashion and Jewelry
Objects
Dental
Food
Others
Stratasys
Markforged Holding Corporation
Desktop Metal Inc.
Velo3d, Inc.
Formlabs Inc.
Protolabs.
Xometry Inc.
Shapeway Holdings Inc.
3D Systems
General Electric