DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Additive Manufacturing Market - Forecasts from 2016 to 2021" report to their offering.
Global Additive Manufacturing Market is projected to witness CAGR of 16.20% over the forecast period to reach US$6.167 billion by 2021, from US$2.505 billion in 2015. Additive manufacturing is a process to create end-use parts automatically. Unlike conventional manufacturing process which involves cutting, stamping, molding among others, additive manufacturing involves joining of different sub-parts to build the final product.
Major drivers of global additive manufacturing market include increasing investment in additive manufacturing industry and ease of development of customized products with the help of additive manufacturing processes. Moreover, advancement in technology in medical sector will also contribute to the growth of this market. Due to the rising demand for lightweight components by the automotive industry, the demand for additive manufacturing solutions is projected to get a significant boost over the next five years.
In order to boost the industry, the U.S. Federal government is taking up several projects in collaboration with private industry and academic institutions. However, the growth of global additive manufacturing market is restrained by lack of standardization due to which manufacturers have to conduct costly and time-consuming testing procedures on their own. High machinery costs and lack of skilled personnel also hinders the growth of this market.
- Wohlers Associates
- Royal DSM
- Made In Space
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Additive Manufacturing Market Forecast by Material Type
6. Additive Manufacturing Market Forecast by Industry Verticals
7. Additive Manufacturing Market Forecast by Geography
8. Competitive Intelligence
9. Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/m5mq6g/additive