U.S. Additive Manufacturing Market Set to Experience Rapid Growth, Projected to Reach USD 27 Billion by 2030
According to Next Move Strategy Consulting, the U.S. Additive Manufacturing (AM) Market is poised for significant expansion, with its size projected to reach USD 27 billion by 2030. This growth reflects a robust compound annual growth rate (CAGR) of 20 % by 2030.
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Additive manufacturing, also referred to as 3D printing or additive layer manufacturing (ALM), is revolutionizing industries by enabling the production of complex, customized components through layer-by-layer construction from digital models. AM is becoming increasingly integral in sectors such as aerospace, automotive, healthcare, and consumer goods, delivering innovative solutions for prototyping, production, and customized manufacturing processes. The ability to create high-precision parts with minimal material waste has also positioned AM as a key contributor to cost savings and environmental sustainability.
Key Drivers of Market Growth
One of the primary drivers of this rapid growth is the increased expenditure in the automotive sector. As U.S. automakers embrace AM to enhance manufacturing efficiency, reduce lead times, and introduce innovative designs, the demand for additive manufacturing technologies is soaring.
A report from the Center for Automotive Research in 2022 highlighted that the U.S. automotive industry allocates USD 16 to USD 18 billion annually to research and product development, with a significant portion directed towards adopting AM solutions for rapid prototyping, tooling, and production of end-use parts.
Additionally, rising investments in healthcare are driving AM adoption for the production of patient-specific medical devices, prosthetics, implants, and surgical guides. The U.S. healthcare industry, which saw an increase in spending by 4.1% to USD 4.4 trillion in 2022, is turning to AM technologies to meet the growing demand for personalized medicine and cost-effective solutions to complex medical challenges.
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Challenges and Opportunities
Despite the impressive market growth, high upfront costs for AM equipment, materials, and training remain a significant barrier for small and medium-sized businesses, hindering broader adoption. These expenses can deter companies from integrating AM into their manufacturing workflows, limiting growth potential for the sector.
However, the integration of Artificial Intelligence (AI) in additive manufacturing presents a promising opportunity for market expansion. AI technologies are enhancing AM processes by optimizing production, improving design capabilities, and enabling the creation of intricate and customized objects. In April 2023, Kokoni launched the SOTA series 3D printer, incorporating AI-powered modeling to enhance print performance, marking a significant step towards greater efficiency in the AM market.
Competitive Landscape
The U.S. additive manufacturing industry is highly competitive, with leading players such as Stratasys, GE Additive, Fisher Unitech, FormLabs, Markforged, Forge Nano, Velo3D, Optomec Inc., Desktop Metal Inc., and Redwire Corporation driving innovation and growth within the sector.
Market Segmentation
The U.S. additive manufacturing market is segmented by technology, including stereolithography (SLA), selective laser sintering (SLS), and fused deposition modeling (FDM), among others. It is also categorized by application, including prototyping, tooling, and functional parts, and further divided by end users, including automotive, healthcare, aerospace, and consumer electronics.
Conclusion
The U.S. additive manufacturing market is on track for substantial growth, fueled by advances in automotive and healthcare sectors and the integration of AI technologies. While challenges like high upfront costs persist, the continuous evolution of AM technologies and increased investments promise a dynamic future for the industry.
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