The Latin America, Middle East and Africa Additive Manufacturing Market would witness market growth of 22.7% CAGR during the forecast period (2022-2028).
Applications of additive manufacturing would emerge as costs decline and actual manufacturing speeds increase. Several companies are currently experimenting with additive manufacturing in order to create everything from houses to food. Meanwhile, market players are not the only ones engaged in the latest breakthroughs in additive manufacturing. Numerous communities of amateurs have emerged as well. While commercial additive manufacturing devices can be enormous and costly, 3D printing businesses are increasingly producing smaller, desktop-sized 3D printers that consumers can purchase easily. Additive manufacturing's enormous form freedom allows the user to create highly optimized parts that would be extremely expensive to produce using existing methods. In these cases, manufacturers refer to the process as rapid manufacturing, which is a misnomer because the process is anything from quick.
The United Arab Emirates (UAE) revised and added new regulatory criteria for the import as well as the sale of agricultural goods in 2018. The registration procedure for food items, additive standards, halal, as well as conformity assessment measures, is all examples of significant policy developments. Prior to exporting, agricultural suppliers in the United States should communicate with local importers to guarantee regulatory compliance.
Government investment and initiatives in the UAE's aerospace industry have fueled the strong demand for commercial partnerships, helping the UAE to outperform other regional markets. The offset program, university programs, industrial clusters, and other initiatives are among them. In support of the UAE's long-term aim to develop into a knowledge-based economy, such activities encouraged the signing of contracts for novel manufacturing and maintenance, repair, as well as overhaul (MRO) projects. With the increasing requirement for enhanced manufacturing solutions, the demand for advanced additive manufacturing solutions would increase. This factor would surge the growth of the regional additive manufacturing market.
The Brazil market dominated the LAMEA Additive Manufacturing Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $993.7 million by 2028. The Argentina market is experiencing a CAGR of 23.4% during (2022 - 2028). Additionally, The UAE market would exhibit a CAGR of 22.4% during (2022 - 2028).
Based on Printer Type, the market is segmented into Industrial 3D Printer and Desktop 3D Printer. Based on Technology, the market is segmented into Stereolithography, Fuse Deposition Modeling, Selective Laser Sintering & Direct Metal Laser Sintering, Polyjet Printing & Inkjet Printing, Electron Beam Melting & Laser Metal Deposition, Digital Light Processing, and Laminated Object Manufacturing & Others. Based on Component, the market is segmented into Hardware, Software (Design, Printer, and Scanning & Inspection), and Services. Based on Application, the market is segmented into Prototyping and Tooling & Functional Parts. Based on Material, the market is segmented into Metal, and Polymer & Ceramic. Based on Vertical, the market is segmented into Automotive, Consumer Electronics, Aerospace & Defense, Educational Purpose, Healthcare & Dental, Fashion & Jewelry, Power & Energy, Food, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Additive Manufacturing Market is Predict to reach $44.6 Billion by 2028, at a CAGR of 18.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3D Systems Corporation, Autodesk, Inc., Canon, Inc., Materialise NV, EnvisionTec, Inc., General Electric (GE) Co., Voxeljet AG, Redwire Corporation, and Stratasys, Ltd.
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