Substantiation in Technology to drive the Additive Manufacturing Market
Additive manufacturing is much different as compared to subtractive method of production. Using additive manufacturing in various industrial applications generally refers to “3D printing”. Additive manufacturing actually involves adding material layer-by-layer, so as to create an object while going for 3 file through 3D printer and 3D printer software.
A feasible additive manufacturing technology is chosen from the technologies available, based on application. Persistence Market Research has walked through these facts with probable calls to action in its latest market study entitled “Additive Manufacturing Market”.
How does the Additive Manufacturing Market dispense itself?
The global additive manufacturing market, by product type, spans hardware (polymer machine, metal machine, and desktop machine), material (polymer & composite, ceramics, and metal), and software. By technique, it’s powder bed fusion, direct energy deposition, material jetting, binder jetting, material extrusion, and photopolymerization.
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By application, it’s medical, aerospace & defense, automotive, consumer electronics, architecture, industrial equipment, and education & research. Out of these, automotive holds the largest market share. Persistence Market Research has sketched these facts with future prospects in its latest market study entitled “Additive Manufacturing Market”.
North America holds the largest market share due to it housing developed economies like the US and Canada. These two regions are amongst the immediate adopters of advanced technologies. Europe is second-seeded on this count. There are several manufacturers holding expertise in technology in additive manufacturing. The Asia-Pacific is expected to grow at the fastest rate in the additive manufacturing market.
This could be credited to rapid urbanization resulting in advancements in consumer electronics, healthcare, and automotive verticals. Persistence Market Research has, with its analysts and consultants, analysed these facts and provided insights in its latest market study entitled “Additive Manufacturing Market”.
Persistence Market Research has enlisted the key participants in additive manufacturing market as Renishaw plc, Materialise, Wipro Limited, ANSYS, Inc., Siemens Industry Software, Inc., Evonik, Stratasys Ltd., Xerox Corporation, General Electric, AMFG, Optomec, American Additive Manufacturing LLC, and Mazak Corporation.
Persistence Market Research has also mentioned about the key developments in this regard. For example – November 2019 witnessed Siemens AG collaborating with Atlas 3D, Inc. for acquiring it. This would actually help it with the expansion of product portfolio as far as additive manufacturing. Stratasys, in February 2020, did launch J826 3D Printer at 3DEXPERIENCE World.
The printer is a combination of productivity and realism and available at close to 50% of price of the other J8-series PolyJet printers. The application areas include educational institutions, automotives, and electronics and consumer goods. EnvisionTEC, in April 2020, did announce completion of clinical trial in usage of EnvisionTEC 3D printed NP (Nasopharyngeal) Swabs for Covid-19 diagnosis.
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What’s in store Going Forward?
The global additive manufacturing market is bound to grow voraciously in the next 10 years – Persistence Market Research