Additive Manufacturing Market to be Worth $228.8 Billion by 2031

Additive Manufacturing Market by Offering (Hardware, Software, Materials, Services), Form (Solid Material, Liquid Material, Powder Material), End User (Consumer Products, Healthcare, General Manufacturing), and Geography - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Additive Manufacturing Market by Offering (Hardware, Software, Materials, Services), Form (Solid Material, Liquid Material, Powder Material), End User (Consumer Products, Healthcare, General Manufacturing), and Geography - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the global additive manufacturing market is expected to reach $228.8 billion by 2031, at a CAGR of 27.9% from 2024–2031. The growth of the additive manufacturing market is driven by the rising need to produce complex parts, reduce manufacturing expenses, and minimize waste, improvements in product development and supply chains, and easy customization and bulk production using additive manufacturing. However, the restricted build sizes and pre-processing and post-processing costs may restrain the growth of this market.

Furthermore, the growing use of 3D printers to produce functional end-use parts and composite 3D printing are expected to offer significant growth opportunities for players operating in the additive manufacturing market. However, the concerns about piracy and unauthorized distribution and a scarcity of skilled professionals may hinder the growth of this market.

On-demand spare parts production, increased product customization, and the use of AI in 3D printing are prominent trends in this market.

The global additive manufacturing market is segmented into offering (hardware, software, materials {plastics and polymers, metals, ceramics, composites, and other material types}, and services), form (solid material {fused deposition modeling, laminated objective manufacturing, and other solid material types}, liquid material {stereolithography, 3D printing photopolymer jetting, liquid thermal polymerization, and other liquid material types}, and powder material {3D printing, selective laser sintering, electron beam machine, and other powder material types}, and end user (consumer products {electronic products, jewelry & luxury goods, decorative art, and parts & fixtures}, healthcare {dental, prosthetic printing, prototype and 3D models, instrument printing, and bioprinting tissues and organs}, automotive {custom parts and spare parts, prototyping, and mounts & fixtures}, general manufacturing {machinery & equipment manufacturing, molds and tools printing, and parts & prototype printing}, electronics & semiconductors {IC & PCB and electronic components}, aerospace & defense {prototype & test units, body & spare parts, weapon printing, and mounts & fixtures}, research and development, chemicals & materials, energy, oil & gas, and other industrial end users. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on offering, the global additive manufacturing market is segmented into hardware, software, materials, and services. Further, the materials market is segmented into plastics and polymers, metals, ceramics, composites, and other material types. In 2024, the hardware segment is expected to account for the largest share of above 60.0% of the global additive manufacturing market. The growth of this segment is attributed to various factors, such as additive manufacturing enabling decentralized production and on-demand manufacturing, reducing reliance on traditional supply chains, and lowering inventory costs. As companies seek to optimize their supply chains and respond quickly to market demands. The ability of additive manufacturing to produce highly customized and personalized products at scale drives demand for additive manufacturing hardware. Also, industries such as healthcare, consumer goods, and automotive leverage 3D printing technology to create bespoke products tailored to individual preferences and requirements. Such factors help to drive the growth of the additive manufacturing hardware market during the forecast period.

However, the materials segment is projected to register the highest CAGR during the forecast period. This segment's growth can be attributed to factors including advancements in additive manufacturing technology, increasing adoption of manufacturing across various industries, cost reduction of additive manufacturing materials, including raw material costs, processing costs, and waste reduction, and increasing focus on sustainability additive manufacturing materials, including biodegradable polymers and recycled materials.

Based on form, the global additive manufacturing market is segmented into solid material, liquid material, and powder material. In 2024, the solid material segment is expected to account for the largest share of above 44.0% of the global additive manufacturing market. The growth of this segment is attributed to the rising demand for solid materials with superior mechanical properties, including strength, ductility, fatigue resistance, and corrosion resistance, which influences material selection and market growth.

However, the powder material segment is projected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to various factors, as powder materials play a crucial role in various additive manufacturing processes, especially in powder bed fusion techniques like selective laser sintering (SLS) and selective laser melting (SLM). Also, the ability to reuse or recycle powder material is easy and it is essential for cost-effectiveness and sustainability. Some additive manufacturing processes allow for the recycling of unused powder, reducing material waste and production costs.

Based on end user, the global additive manufacturing market is segmented into consumer products, healthcare, automotive, general manufacturing, electronics & semiconductors, aerospace & defense, research and development, chemicals & materials, energy, oil & gas, and other industrial end users. In 2024, the general manufacturing segment is expected to account for the largest share of above 23.0% of the global additive manufacturing market. The growth of this segment is attributed to various factors, as additive manufacturing facilitates lightweighting and material optimization by enabling the creation of lattice structures, topology-optimized designs, and complex internal geometries. Additive manufacturing enables the production of complex geometries and intricate designs that are difficult to achieve using traditional manufacturing methods. Design flexibility allows for innovative product designs, lightweight structures, and customized solutions tailored to specific applications. Such factors help to improve the growth of additive manufacturing in the general manufacturing industry during the forecast period.

However, the automotive segment is projected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to various factors, as additive manufacturing is utilized for rapid tooling and fixture production in automotive manufacturing processes. AM allows automotive engineers to optimize component performance and integrate multiple functions into a single part. Moreover, automotive manufacturers and aftermarket suppliers leverage AM to produce spare parts, replacement components, and obsolete parts on demand. AM enables decentralized production, inventory optimization, and cost-effective spare parts management, ensuring supply chain resilience and customer satisfaction. Such factors help to improve the growth of additive manufacturing in the automotive industry during the forecast period.

Based on geography, the additive manufacturing market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of above 36.0% of the global additive manufacturing market. The large share of the Asia-Pacific market is attributed to the rapid developments in the manufacturing sector in Asia-Pacific with growing interests in new technologies for efficient production. Additionally, increased digitization has fueled the growth and adoption of additive manufacturing for end-use industries such as consumer goods, construction, medical, electronics and semiconductor, and research and education. Moreover, the Asia-Pacific region has a vibrant startup ecosystem with a growing number of additive manufacturing startups specializing in 3D manufacturing. These startups drive innovation, competition, and collaboration in the additive manufacturing market, contributing to market growth.

However, the market in North America is projected to register the highest CAGR of 29.0% during the forecast period. This segment's large market share is attributed to the presence of key market players in the region and the growing demand for customized 3D-printed products in the region across the healthcare, consumer electronics, aerospace and defense, and automotive sectors. The region is also growing in its adoption of industrialization 4.0 and increasing collaborations and investments by enterprises in the development of advanced 3D printing and its materials.

Key Players

The key players operating in the global additive manufacturing market include 3D Systems Corporation (U.S.), 3DCeram (France), Arcam AB (Sweden), Autodesk, Inc. (U.S.), Canon Inc. (Japan), Dassault Systèmes SE (France), Stratasys, Ltd. (U.S.), voxeljet AG (Germany), ExOne Operating, LLC (U.S.), MakerBot Industries, LLC (U.S.), Materialise NV (Belgium), EOS GmbH (Germany), Optomec, Inc., (U.S.), Proto Labs, Inc. (U.S.), Shapeways Holdings, Inc. (U.S.).

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Key Questions Answered in the Report:

What are the high-growth market segments in terms of offering, form, and end user?
What is the historical market size for the global additive manufacturing market?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the global additive manufacturing market?
Who are the major players in the global additive manufacturing market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the global additive manufacturing market?
What are the different strategies adopted by major market players?
What are the trends and high-growth countries?
Who are the local emerging players in the global additive manufacturing market, and how do they compete with other players?

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