Automotive 3D Printing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The automotive 3D printing market is currently evaluated at USD 760 million is expected to register a CAGR of 21.74%, during the forecast period, 2020-2025. 

• A surge in raw material prices and inconsistency in the global economy have forced the automotive sector to seek cost-efficient strategies. Stringent government norms require manufacturers to spend an average USD 400 on emission reducing components and USD 200 on new safety equipments (This includes setting up of new assembly stations and R&D investments.). Advancements in techniques and materials employed in additive manufacturing are expected to create new frontiers for 3D printing in the automotive sector. Local Motors is one of the first manufacturers to commercialize the use of 3D printing in the automotive sector by manufacturing chassis and body parts using giant 3D printers. Ford Motor Company employs 3D printers to produce prototypes of resin, silica powder, sand, and even metal for the manufacture of its vehicle components. Peugeot produced its interior, i-Cabin for its Fractal concept car using 3d printing technology.

• For effective production, optimization and adoption of additive manufacturing techniques like 3D printing are inevitable for automakers. This can be witnessed from Mitsubishi's purchase of its first 3D printer in 2013, rather delayed compared to its counterparts. Using this technology for prototyping has proved to be a highly cost-efficient and time-saving achievement. Ford produces prototypes for cylinder head water jacket using 3D printing, the expenditure on which was close to USD 2,000, unlike the conventional template production, which costs around USD 20,000.

Scope of the Report

The automotive 3d printing market covers the latest trends and technological development in the automotive 3d printing, demand of the technology type, component type, material type, application type and market share of major automotive 3d printing companies across the world.

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Key Market Trends

Growing Adoption of Fused Deposition Modeling Technology

The FDM is among the most commonly used method of 3D printing in the automotive industry. The flexibility of the method to be used for manufacturing of the prototypes, concept model parts, and also final products helps it in maintaining a significant share in the automotive 3D printing market. This computer-aided method derives inputs from a processing unit for the model, which it has to print and starts the printing process bottom up. Materials, like thermoplastics, are generally used in the process, which results in the ultra-light final products. Advanced high-performance engineering grade thermoplastics can also be used in the process, which produces a tough, strong, and incredibly light products.

The supporting ecological impacts of the process, such as the minimal wastage and negligible carbon footprint, are also supporting the process to be mass adopted by the industry. Recent advancements in the FDM technology, which makes it compatible to 3D print parts with materials, such as carbon fiber and carbon fiber reinforced plastics, make the process even more essential to the automakers. The growing stringency of the automotive regulatory authorities started the race of manufacturing a light and safe vehicle. In order to manufacture such vehicles, the automobile manufacturers are turning their heads toward the exotic materials, such as carbon fibers. The ability of the FDM method to 3D print automotive parts of carbon fiber helps the automakers in reducing the manufacturing cost and time and also in decreasing the ecological impacts of other manufacturing processes.

Many automotive manufacturing giants, such as Mercedes-Benz, BMW, Tesla, Audi, Koenigsegg, Shelby, etc. have already embraced the 3D printing technology in the manufacturing process.

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