Additive
manufacturing is also known as 3D (three dimensional) printing; and used to
create 3D objects. Computer control is used to create a 3D object. To create
the object additive processes are used. The 3D objects can be customized as per
the industry requirement.
The additive
manufacturing refers to processes used to synthesize a 3D object wherein
successive layers of material are formed under computer control to create an
object. Object can be of almost any shape or geometry and is produced from
digital model data (3D model) or another electric data source such as Additive
Manufacturing File (AMF) file. The size of the market is expected to grow at
the highest CAGR in the forecast period.
The major factor
driving the market isincreasing the demand for 3D printing from industries such
as automotive, dental, manufacturing and healthcare.
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Currently, the usage
of additive manufacturing or 3D printing is on the rise in developed economies,
but the usage is limited in the developing economies. The limited penetration
of additive manufacturing in the underdeveloped and developing economies is
expected to inhibit the growth of the global additive manufacturing market over
the forecast period.
The increasing demand
for functional food in developing countries such as India among others is
anticipated to broaden options for different manufacturing companies as new
entrants in additive manufacturing market.
The next generation
automobile concepts such as driverless technologies, electrification, and the
societal shift in perception of mobility with 3D printed automobile production
are driving the market further.
The positive growth
due to mergers and acquisitions by many companies in developing nations such as
India, China, Brazil, and Thailand among others is expected to act as winning
imperative for additive manufacturing market globally.
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