The Additive Manufacturing Market is to Touch $96.7 Billion by 2030; innovative material advancements and increasing demand for customized products propels market growth.

The Additive Manufacturing Market size is estimated to reach $96.7 billion by 2030, growing at a CAGR of 21% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Additive Manufacturing Market – By Type (Materials, Systems, and Services & Parts), By Material (Plastics [Acrylonitrile Butadiene Styrene (ABS), Polylactic Acid (PLA), Polyethylene (PE) {High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene (LLDPE), and Others}, Polycarbonate (PC), Polypropylene (PP), Polyethylene Terephthalate (PETE), Nylon, and Others], Metals [Iron, Steel, Silver, Aluminum, Copper, Titanium, Gold, Zinc, and Others], Ceramics [Glass, Silica, Quartz, and Others], and Others), By Technology (Powder Bed Fusion [Direct Metal Laser Sintering (SLS), Selective Laser Sintering (SLS), Selective Laser Melting (SLM), Electron Beam Melting (EBM), and Others], Binder Jetting, Directed Energy Deposition [Laser Deposition Technology (LDT) excluding LCT, Laser Additive Manufacturing (LAM), Laser Metal Deposition (LMD), Laser Engineering Net Shape (LENS), Laser Cladding Technology (LCT), Electron Beam Additive Manufacturing (EBAM), Wire Arc Additive Manufacturing (WAAM), Laser Deposition Welding (LDW), and Others], Material Extrusion, Material Jetting [Drop On Demand (DOD), Polyjet by Object, and Others], Vat Polymerization [Stereolithography (SLA), Digital Light Processing (DLP), Continuous Liquid Interface Production (CLIP), and Others], and Others), By End-Use Industry (Industrial, Aerospace [Commercial, Military, and Others], Consumer Goods [Furniture, Watches and Jewelry, Shoes and Soles, and Others], Oil & Gas, Automotive [Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV), and Others], Medical & Healthcare, Electrical & Electronics [Conductors, Resistors, Sensors, Semiconductors, and Others], Building and Construction [Residential, Commercial, Industrial, and Infrastructure], and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Cost-efficiency improvements and expanding industrial applications are fueling the growth of the Additive Manufacturing industry during the forecast period.

North America dominated the additive manufacturing market, holding a 41% market share in 2023. This growth is driven by significant government investments and initiatives in the United States to advance additive manufacturing. For example, America Makes awarded GE Global $2.6 million to develop an open-source, multi-laser production machine and additive manufacturing platform, addressing challenges in single laser melting (SLM). In Canada, growing collaborations between research universities in additive manufacturing are further contributing to market expansion. The U.S. is projected to lead the global additive manufacturing market with the largest installed base of 3D printers worldwide, accounting for over one-third of the revenue generated by additive manufacturing globally, thanks to its robust 3D printing infrastructure.

One of the key functional advantages of additive manufacturing lies in its ability to create complex geometries that are often challenging or even impossible to produce using conventional manufacturing methods. This difference stems from the unique physical process of additive manufacturing compared to traditional approaches. The intricate designs produced through additive manufacturing are not only lighter but also stronger than their conventionally manufactured counterparts. Unlike traditional fabrication, where complex components demand higher costs due to additional steps like converting 3D models into 2D drawings and the labor-intensive assembly process, additive manufacturing maintains the same method regardless of complexity. As a result, the production of more intricate designs does not incur extra costs, offering significant savings.

Additive manufacturing provides substantial cost advantages, particularly when it comes to rapid manufacturing. Since the complexity of the component does not significantly impact manufacturing time or costs, this method is well-suited for both low-cost production and projects ranging from small to large series. Additionally, design modifications can be implemented swiftly without driving up costs. Additive manufacturing's atom-by-atom construction process, unlike subtractive methods like chemical etching, ensures minimal material waste. This technology also eliminates the need for assembly-related components like fasteners, brazing, or welding, further cutting down assembly costs. The overall efficiency of additive manufacturing reduces both material and labor expenses, making it an ideal solution for companies seeking cost-effective production methods.