ADDITIVE MANUFACTURING
Market share
Further key findings from the report suggest that :
A 3D-printed part from automaker AUDI AG .
■ Additive manufacturing materials , such as metals and thermoplastics , contributed to the largest share in the market , with revenues of US $ 3.7 billion and US $ 3.4 billion , respectively , in 2019 .
■ Stereolithography technology dominated the AM market , with a value of 1.1 billion in 2019 .
■ The manufacturing industry is expected to benefit from the application of additive manufacturing technology over the forecast period , with an impressive 33 % market share by 2027 .
■ The medical industry is projected to be one of the fastest-growing applications of additive manufacturing , with a projected CAGR of 16.1 %. Medical equipment manufacturers use the wide scope of high-quality and biocompatible 3D printing materials to create tissues and organoids , surgical tools , patientspecific surgical models and custommade prosthetics .
■ The North American region dominated the additive manufacturing market in 2019 , with a market share of 43 %. The presence of additive manufacturing industry giants in the region has supported the advancement of technology .
■ The Asia Pacific is projected to grow at the highest rate of 18 % from 2020-2027 , owing to an untapped market with a large consumer base and increasing disposable income .
Mordor Intelligence values the global additive manufacturing and materials market at US $ 16.6 million in 2020 and expects it to reach US $ 70.92 million by 2026 and grow at a CAGR of 27.5 % over the forecast period ( 2021 - 2026 ).
“ Recent advances in machinery , materials and software have made this technology accessible to a broader range of businesses , which enables more organisations to use tools that were previously limited to a few high-tech industries . Moreover , the decreased prices of additive manufacturing-based machines , coupled with growing awareness among several end-user industries , have increased the availability of this technology . Newer and advanced fused deposition modelling methods have enabled the use of diverse materials , thereby boosting widespread adoption across various industries over recent years ,” it told ISMR .
“ According to Essentium ’ s survey in March 2019 , the number of manufacturers using additive manufacturing for full-scale production doubled in 2019 , compared to 2018 . Wider adoption of this technology was observed across multiple sectors , as an increased number of industrial solutions were brought to market by manufacturers ,” it added .
Multiple industries , including healthcare , automotive and aerospace and defence , are experiencing an impactful production and business transformations in the critical areas of their businesses , owing to the maturity of additive technologies and material supply-chains . For example , interior aircraft parts , such as ducting , vents and airflow systems which are created with additive manufacturing , enable designers to trim weight , reduce the number of components in the assemblies and conform to tight cabin interiors . AM provides design freedom to experiment with more effective and efficient part shapes , with fewer potential points of failure .
Porsche piston blanks after 3D printing process .
Various professional additive manufacturing providers , makers and designers in the industrial community have responded to the COVID-19 pandemic by volunteering their skills to ease the pressure on supply chains and governments ( in areas such as PPE ). This has created an expedited opportunity in the healthcare sector of the market .
Automotive applications
Among the industries adopting AM , automotive is one of the fastest-growing sectors . There are various projects and initiatives aimed at bringing the advantages of this technology to automotive applications . One such project , highlights Mordor Intelligence , is the ‘ Industrialisation and Digitisation of Additive Manufacturing for Automotive Series Processes ’ project ( IDAM ). Launched by BMW Group , this project aims to provide at least 50,000 components per year in mass production using AM , and over 10,000 individual and spare parts .
“ HP is working with Volkswagen , one of the major German automotive companies , to 3D print parts on a large scale . Volkswagen installed 90 HP 3D printers in its factories and produced 10,000 parts in a few weeks . However , Volkswagen has set a goal to print 50,000 to 100,000 functional portions the size of a football per year ,” said the analyst .
“ Ford Motor Company was one of the earliest adopters of 3D printing , having purchased the third 3D printer ever made some 30 years ago . In December 2018 , Ford invested US $ 45 million to open its Advanced Manufacturing Center to take steps to integrate 3D printing into its product development cycle , and the company is looking to use the technology for manufacturing applications .”
Additive manufacturing with 3D printers is helping to speed up the design and development process of EVs ( electric vehicles ) so they can be designed to be smaller , more compact and friendlier on the environment .
Short lead times , access to new materials and customisable finishes have encouraged automobile manufacturers to integrate 3D printing processes into their production strategies . Selective laser sintering , fused deposition and selective laser melting are some of the technologies used in this manufacturing process . Metal additive
36 | sheetmetalplus . com | ISMR April 2021