The global hybrid additive manufacturing market is set for substantial growth, with a projected market size of $948.6 million by 2030, driven by a strong Compound Annual Growth Rate (CAGR) of 22.2% from 2023 to 2030, as highlighted in the "Hybrid Additive Manufacturing Market Size, Share & Trends Analysis Report." This growth is attributed to the increasing adoption of hybrid additive manufacturing in key sectors such as aerospace, medical and automotive. This convergence of manufacturing innovations is expected to pave the way for intricate and high-quality production.
Hybrid additive manufacturing offers a cutting-edge solution to meet the rising demand for tailored products across diverse industries. By seamlessly integrating traditional subtractive manufacturing with additive manufacturing techniques, it produces intricate, bespoke and precise products. Apart from customization, this approach offers advantages such as minimal material wastage, expedited production and reduced costs.
The COVID-19 pandemic had a dual impact on the hybrid additive manufacturing market. Disruptions in global supply chains led to shortages in raw materials and components, affecting sectors reliant on imports. Interestingly, the pandemic accelerated the adoption of additive manufacturing in the medical field, underlining its crucial role in healthcare, energy and aerospace.
Notable market highlights include the projected exceptional growth of the titanium segment, with a CAGR of 23.4%. Titanium's strength-to-weight ratio, mechanical strength, and corrosion resistance, particularly in 3D printing, contribute to this segment's promise. The aerospace sector dominated the market landscape, capturing a significant 43.1% revenue share in 2022. Advancements in composite materials are driving the creation of sustainable, lightweight aerospace components. North America held the largest share at 39.8% in 2022, driven by a thriving landscape of industries such as automobile, machinery, electronics, defense, healthcare, energy and aerospace.
As the hybrid additive manufacturing market continues to evolve, trends and innovations are reshaping the industry and driving its growth trajectory.
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