Today, additive manufacturing has been widely used in the construction, footwear, industrial design, jewelry, engineering and construction, education, aerospace, dental and medical, consumer goods and automotive industries. Additive manufacturing has several benefits, such as rapid manufacturing, ease of molding, mass production, and mass customization.
In the next few years, as more and more raw material supplies and more end users adopt this technology, the growth of the global additive manufacturing market is expected to be huge. The growing number of additive manufacturing R&D activities is expected to change traditional manufacturing and supply chains and open the door to product innovation. A few years ago, the application of this technology was still limited. For example, in the medical field, it is only used to produce prototypes or models. But as technology advances, it is used to make prostheses, implants, scaffolding, organs, and surgical equipment. In other end-user industries such as automotive and electronics, these advances have paved the way for cleaner, safer, lighter products, lower costs and shorter lead times.
In terms of geographic factors, Europe and North America will have a considerable cumulative share in the global market. Governments and international participants are increasingly investing in this technology and are promoting growth in all regions. Consumers’ high disposable income and high awareness also play a crucial role in the new round of growth. On the other hand, the Asia Pacific region is expected to show significant growth rates in the future. The huge potential of the region's market is attracting global players to build new production plants. In addition, the increasing use of advanced technologies in the medical field is driving growth in the region.