Global Hybrid Additive Manufacturing Market Soars: Projected $948.6 Million Valuation by 2030

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Global Hybrid Additive Manufacturing Market

Global Hybrid Additive Manufacturing Market

Dublin, Aug. 29, 2023 (GLOBE NEWSWIRE) — The “Hybrid Additive Manufacturing Market Size, Share & Trends Analysis Report By Material (Titanium, Aluminum, Steel, Nickel, Others), By End-use, By Region, And Segment Forecasts, 2023-2030” report has been added to ResearchAndMarkets.com’s offering.

The global hybrid additive manufacturing market is on the brink of remarkable expansion, projected to achieve a substantial market size of USD 948.6 million by 2030, according to a comprehensive report.

This surge is indicative of a robust Compound Annual Growth Rate (CAGR) of 22.2% from 2023 to 2030, showcasing the escalating adoption and transformative potential of hybrid additive manufacturing.

Convergence of Manufacturing Innovations

The propulsion behind this market surge lies in the escalating adoption of hybrid additive manufacturing within pivotal sectors like aerospace, medical, and automotive. This convergence of manufacturing innovations is set to steer the market’s growth trajectory, opening new horizons for intricate and high-quality production.

Customization Catalyzes Development

In response to the mounting demand for tailored products spanning diverse industries, hybrid additive manufacturing has emerged as a cutting-edge solution. This innovative technology seamlessly marries traditional subtractive manufacturing with additive manufacturing techniques to craft intricate, bespoke, and precision products. Beyond customization, this approach bestows added benefits including minimal material wastage, expedited production, and reduced costs.

Pandemic’s Dual Impact

The COVID-19 pandemic wrought a dual impact on the hybrid additive manufacturing market. Disruptions in global supply chains triggered shortages in raw materials, components, and equipment, affecting the sector reliant on imports. Paradoxically, the pandemic expedited the adoption of additive manufacturing within the medical sphere, highlighting its indispensable role in healthcare.

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Key Market Highlights:

The titanium segment is poised for exceptional growth with a projected CAGR of 23.4%. This segment’s promise is underscored by the deployment of titanium in 3D printing due to its stellar strength-to-weight ratio, exceptional mechanical

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