Canada Additive Manufacturing (AM) Market is expected to reach USD 4.67 billion by 2030
The high adoption of 3D digital printing, along with government initiatives are driving up demand for the Canada additive manufacturing (AM) market during the forecast period.
Canada Additive Manufacturing (AM) Market is valued at USD 1.04 billion in 2022 and is expected to reach USD 4.67 billion by 2030, with a CAGR of 20.6% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
The use of 3D digital printing in architecture and construction is projected to propel the additive manufacturing market forward. This is because 3D digital printing may be utilised to more effectively manufacture structures and concept models, resulting in shorter construction timeframes and less material waste.
The growing Canadian government's attempts to expand the additive manufacturing industry are driving market expansion. For example, Canada Economic Development for Quebec Regions (CED) announced in March 2022 a nonrepayable contribution of USD 3,625 over three years to promote a virtual networking platform aimed at assisting Quebec manufacturing. This new site will raise awareness of additive manufacturing in Quebec, as well as the various development programmes and services.
However, the cost of additive manufacturing technologies, including printers, materials, and post-processing equipment are relatively high compared to traditional manufacturing methods. This cost factor may limit the accessibility and adoption of additive manufacturing, particularly for small and medium-sized businesses, which is expected to restrain the growth of the market.
On the other hand, continuous advancements in additive manufacturing technologies, including improved printer capabilities, enhanced materials, and more efficient post-processing techniques, have fueled the growth of the market. These advancements enable higher quality, faster production, and expanded application possibilities, attracting more industries to adopt additive manufacturing. Thus, it is expected to create ample opportunities for the market.
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According to the report, leading players in the Canada additive manufacturing market include such as Solid Concepts, Magna International, 3D Systems Canada, Prodways, StirStart, MELTio, Optomec, Voxel8, Innofil3D, and Proto3000.
Key Insights from the Additive manufacturing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the Canada additive manufacturing market is provided in the report.
The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.
The market share of players in the Canada additive manufacturing market is provided in the report along with their competitive analysis.