There has been a rise in the use of additive manufacturing due to the growing adoption of additive manufacturing, increased funding for companies in this sector, heightened interest from manufacturers in 3D printing, and the expanding number of industries utilizing additive manufacturing to enhance value-added services. Furthermore, the growing use of 3D printers to produce functional end-use parts, composite 3D printing, increasing use of 3D printing in regenerative medicine, and growing spending in the aerospace & defense sectors. This article explores the rising demand for additive manufacturing and the advantages of these technologies to focus on its role in identifying the best processes to manufacture new products in various sectors.
Significance of Additive Manufacturing in Various Industries
The concept of additive manufacturing was introduced in the early 1980s and was used to create 3D objects using CAD files by making use of several technologies. Additive manufacturing provides various advantages, such as the ability to consolidate assemblies into a single part, improve existing part properties, the ability to create lightweight parts, personalized customization, low energy consumption, waste reduction, and inventory stock reduction, among others.
The evolution of additive manufacturing has seen rapid growth due to the increasing number of companies manufacturing printers and providing additive manufacturing services. Some of the developments in the additive manufacturing market include:
- In November 2023, ADDiTEC (U.S.) launched two revolutionary manufacturing platforms, AMDroid and Hybrid3, that provide precision, efficiency, and versatility in this sector.
- In October 2023, EOS GmbH (Germany) launched the EOS M 300-4 1kW, a new additive manufacturing system with one-kilowatt lasers to meet the production requirements of aluminium and copper 3D-printed applications.
- In April 2024, Replique GmbH (Germany) announced the launch of a 3d printing material hub for 3D printing. This hub has a collection of more than 400 polymer materials, compiled in collaboration with more than 25 material providers.
High Growth Potential in Emerging Economies
Additive manufacturing has been prevalent in emerging economies or developing countries such as India, China, and Mexico. However, technological advancements and globalization in developing countries have led to additive manufacturing being popular in certain Asian countries as well. 3D printing technology has been implemented in China to meet the growing demand for smarter, more efficient production. For instance, in the Chinese automotive sector, Pix Moving, an automotive start-up in Guizhou Province, is developing autonomous-driving cars by combining 3D printing and generative design techniques. China is taking initiatives to preserve its 3D printing culture.
In India, 3D printing is used primarily in automotive prototypes, tooling, aerospace, defense, medical devices, and jewelry. The 3D printing industry in India is booming, due to which 3D players in India have emerged to capture the domestic market. To accelerate economically viable technology development, in 2021, the Center of Excellence in Additive Manufacturing under the Ministry of Electronics and Information Technology launched a business case for digital toys using 3D printing.
Similarly, Mexico is rapidly establishing itself as a key player in the global manufacturing landscape. The country's strategic location, skilled workforce, and favorable trade agreements make it an attractive destination for manufacturing activities. As a result, numerous industries are investing in advanced manufacturing technologies, including additive manufacturing, to enhance their production capabilities and maintain competitive advantages.
Advancing Additive Manufacturing Through New Technologies
The emergence of advanced technologies has improved the accuracy and manufacturing of new products. Using AI in 3D printing can help build stronger, sturdier, and more durable products. It can also enhance the quality of 3D-printed parts by detecting issues in the initial stages and taking steps immediately, enhancing the printing procedure and minimizing the chances of manual errors.
AI can be used to assess every material before subjecting it to 3D printing processes. Artificial intelligence is also being increasingly used to make generative 3D designs. For instance, AI and machine learning are now being integrated into melt electrowetting 3D printers to produce implants for regenerative medicine applications. These solutions use benchmarks provided by a designer or engineer, i.e., product size, weight, strength, style, materials, cost, and any number of other criteria, and then leverage cloud computing and machine learning to create multiple designs.
Start-ups and research projects are raising funding to integrate AI into 3D printing technologies. For instance, in October 2023, Ai Build (U.K.), a 3D printing software developer, raised USD 8.5 million in a Series A round for AI-powered 3D printing. The funding was provided by IQ Capital Partners LLP (U.K.), Nikon Corporation (Japan), ACT Venture Partners (Ireland), Atlas Ventures (U.K.), and Seedcamp (U.K.).
Unlocking Additive Manufacturing: Insights from Additive Manufacturing Market Analysis
Recent insights from Meticulous Research® provide valuable perspectives on the future trajectory of the Additive Manufacturing Market. Projections suggest a potential worth of $93.36 billion by 2031, driven by a remarkable Compound Annual Growth Rate (CAGR) of 20.3% from 2024 to 2031.
As the global landscape takes shape, the North American region is expected to hold a substantial market share in 2024. Notably, influential industry players, including Stratasys, Ltd. (U.S.), 3D System Corporation (U.S.), EOS GmbH (Germany), Colibrium Additive (U.S.), Materialise NV (Belgium), Desktop Metal, Inc. (U.S.), and HP, Inc. (U.S.) have established a broad presence across various regions, leading to the widespread adoption of additive manufacturing worldwide. This comprehensive overview from Meticulous Research serves as a gateway into the additive manufacturing market.
Conclusion
The growing adoption of additive manufacturing, increased funding for companies, and heightened interest from manufacturers in 3D printing have led to an increase in its use across several countries. Additionally, additive manufacturing, backed by advanced technologies and government programs, is making it more significant and recognized.
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