FOCUS ON ADDITIVE MANUFACTURING
3D-printed part hinges ( Trideus ).
adherence to standards become crucial factors in determining the market ' s trajectory and acceptance across various sectors .
“ Substitutes for additive manufacturing in the manufacturing sector include traditional manufacturing methods such as injection moulding and CNC machining , offering alternatives for certain production needs . Additionally , rapid prototyping services using alternative technologies such as stereolithography or selective laser sintering may serve as substitutes in specific applications . Emerging additive manufacturing technologies and advances in traditional manufacturing methods also contribute to the evolving landscape of alternatives for the additive manufacturing market ,” explained Grand View Research .
“ The end-user industry concentration in the additive manufacturing market exhibits diversification , with significant adoption observed in sectors such as healthcare , aerospace and automotive . Healthcare applications include the production of customised medical implants , while aerospace leverages AM for lightweight and complex components . In the automotive sector , AM is increasingly utilised for prototyping , production tooling and the creation of lightweight structures , showcasing a broad spectrum of applications across various industries ,” added the analyst .
Applications and regional analysis
A new electric 3D-printed motorcycle : The Rugged .
more than 54 %. The functional parts segment is expected to grow at a significant CAGR of 24 % from 2023 to 2030 .
Key market sectors for the technology include automotive ; aerospace ; defence and healthcare ( including dental ). For example , interior aircraft parts ( such as ducting , vents and airflow systems which are created with
3D-printed part ( image : LOCTITE ). 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 .
“ One of the main benefits of additive manufacturing is increased speed , enabling a more productive process and generating a paradigm shift for the development of tooling and vehicle components . Automotive parts can be designed and made in a matter of days , rather than the typical turnaround time of weeks . By including additive manufacturing equipment outside the design studio and on the factory floor , automakers can create multiple assemblies from one machine to save time and reduce the amount of component inventory on the shelf ,” commented manufacturer , BASF .
Grand View Research highlighted , in its latest analysis of AM technologies , that the metal segment dominated the market in 2022 and accounted for a revenue share of more than 54 %. It is anticipated to continue dominating the market and expand at the highest CAGR of more than 28 % over the forecast period . It confirmed that North America dominated the additive manufacturing market in 2022 and accounted for a revenue share of more than 34 %. Europe , it said , emerged as the second-largest regional market .
“ Asia Pacific is poised for remarkable growth . The regional market is expected to grow at the highest CAGR over the forecast period . It is emerging as a manufacturing hub for the automotive , healthcare and consumer electronics industries . Rapid urbanisation is also expected to play a vital role in driving the adoption of three-dimensional printing across the region over the forecast period ,” added Grand View Research .
The stereolithography segment , said Grand View Research , dominated the market in 2022 and accounted for a revenue share of more than 10 %. Stereolithography is one of the oldest and most conventional printing technologies . In terms of applications , the prototyping segment dominated the market in 2022 and accounted for a revenue share of
22 | ismr . net | ISMR April 2024