China Additive Manufacturing (AM) Market is expected to reach USD 1.16 billion by 2030
The broad applications of additive manufacturing in China’s construction industry driving up demand for the Additive Manufacturing (AM) market during the forecast period.
China Additive Manufacturing (AM) Market is valued at USD 2.03 billion in 2022 and is expected to reach USD 1.16 billion by 2030, with a CAGR of 24.4% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
The growing capabilities of 3D printing technologies are unlocking considerable potential and enabling a diverse set of applications for additive manufacturing in China's building industry. For instance, in November 2021, Advanced Intelligent Construction Technology, also known as AICT, used its machines to decorate a park using 3D printing for concrete structures and other objects in Shenzhen, China. With a surface area of 5,523 square meters, the park has more than 2,000 3D-printed elements and includes sculptures, benches, flower beds, retaining walls, and curbs that adorn this large green space.
However, the cost of additive manufacturing technologies, including printers, materials, and post-processing equipment is 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 China additive manufacturing market include Forward AM, Farsoon Technologies, Shining3D, Tiertime, UnionTech , Shenzhen CTC, Dremel, 3D Systems, Stratasys, and Protolabs.
Key Insights from the China Additive Manufacturing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the China 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 China additive manufacturing market is provided in the report along with their competitive analysis.