UK Additive Manufacturing (AM) Market is expected to reach USD 2.56 billion by 2030
The increasing government initiatives and adoption of 3D printing across industries in UK are driving up demand for the additive manufacturing (AM) market during the forecast period.
UK Additive Manufacturing (AM) Market is valued at USD 0.69 billion in 2022 and is expected to reach USD 2.56 billion by 2030, with a CAGR of 18.0% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
The adoption of additive manufacturing technology in the defense industry has witnessed significant growth due to the increasing focus and support from governments worldwide. Governments around the world have recognized the potential of 3D printing applications for military purposes and have initiated various initiatives to promote its development and implementation within the defense sector. For instance, in October 2022, the UK’s Ministry of Defence (MOD) announced the launch of project TAMPA, a seven-year-long program to increase the amount of 3D printed parts purchased by the UK military
Further, the increasing R&D in the region owing to high disposable income in the country and technological advancements drives the growth of the market. For instance, in July 2021, AME Group launched a new 3D printing service bureau, that will focus on providing 3D printing manufacturing and prototyping services to the UK businesses, and will also expand into low-volume production and direct manufacturing with dropshipping services.
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 UK additive manufacturing market include AME Group, Renishaw PLC, Stratasys Limited, EOS GmbH, Materialise NV, AnisoPrint, Nexa 3D Inc., Protolabs, GE Additives, and Markforged.
Key Insights from the UK Additive manufacturing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the UK 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 UK additive manufacturing market is provided in the report along with their competitive analysis.