DUBLIN--(BUSINESS WIRE)--The "China Automotive Additive Manufacturing Market - Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
China Automotive Additive Manufacturing Market size is forecast to reach $8.5 billion by 2025, after growing at a CAGR of 7.5% during 2020-2025.
Automotive Additive Manufacturing is referred to as the process that makes up 3D structures that are produced to shape a structure by incorporating several sets of layers of materials. According to the Chinese Passenger Car Association (CPCA), demand for electric cars is growing progressively. This is due to the rising development of lightweight automobile parts utilizing 3D automobile printing technologies.
The Chinese Government has rendered the development of additive manufacturing technologies a priority in the region. International companies are urged to create subsidiaries, although some domestic companies are also driven by government policies. Collaboration with other industry leader companies to incorporate the technology into their manufacturing process and create innovative product innovations would help them achieve strategic edge over their competitors.
Key Takeaways
- Based on the material size, the metal segment is expected to have the highest market share, as 3D printing is easy to use in final product manufacturing. Motors, spare parts and other internal and external facilities.
- Laser sintering is an additive manufacturing method that is used to process all types of materials, such as polymers, fabrics, ceramics, and composites, to manufacture complex parts. This encompasses the industrial, aerospace, biomedical and architectural applications.
- Material Jetting is projected to account for the largest market share by 2025. The jetting of material creates objects identical to a two-dimensional jet ink printer.
- China reported sales of 1 million electric vehicles in 2018, more than twice the number of U.S. sales. China's additive manufacturing sector is gaining steam thanks to big funds for applied production and materials research and development.
Drivers - China Automotive Additive Manufacturing Market
- Impressive growth of Electric vehicles in China
China recorded 1 million electric vehicle sales in 2018, which is more than twice the number of sales in U.S. Also, 777,000 units of EVs were sold in China in 2017, up 53% compared to 2016 as reported by CAAM. Owing to the increasing value of additive manufacturing in EVs, the exceptional growth opportunities for the Chinese electric vehicles industry are a significant growth driver for the automotive additive manufacturing sector. In the Chinese industry, additive processing is used by the OEMs as a workaround. Automotive OEMs collaborate with leading operable additive manufacturing firms. We concentrate primarily on techniques such as stereo lithography, fused deposition modeling and laser sintering. Such innovations have considerable expertise in the production of cost-effective and composite materials that aid to improve the efficiency of the vehicles.
- Growing Investments In Additive Manufacturing
China's additive manufacturing industry is gaining momentum because of tremendous funds for research and development of industrial technology and materials. BMW spent $12 million in a new additive engineering facility in April 2018. HP and Guandong firms have announced a new production center for additives in Dali, Foshan China. The venture in 10 HP Multi jet fusion 3D printing systems and is the biggest production-grade 3D printing installation in Asia Pacific by HP.
Challenges -China Automotive Additive Manufacturing Market
- Low Speed Production
Additive manufacturing faces difficulties in the speed of production, which reduces the scope of further production. Additive manufacturing is a game changer in industries where the added profit produced by the manufacturing method overweighs the higher production costs. The automotive industry is, however, a high-volume business needing significant output rates to make profit. The low-speed production of the additive manufacturing technique is seen as a significant impediment to the broader implementation of the automotive manufacturing techniques. Fast speed additive processing has been an important research field in an effort to tackle this challenge.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the China Automotive Additive Manufacturing Market. In 2019, the market of China Automotive Additive Manufacturing Market has been consolidated by the top players - Stratasys Ltd, Electro Optical Systems GmbH, Beijing Tiertime Technology Co.Ltd, Shining 3D Tech Co.Ltd, Farsoon Technologies, Protofab, 3D Systems Corporation, SLM Solutions GmbH, Materialise NV, Renishaw PLC.
Launches/Acquisitions
- Pvt Intech Additive Solutions. The pioneers and industry leaders in metal additive manufacturing in India, Ltd. (formerly known as Intech DMLS Pvt. Ltd.), announced that they have planned, produced and introduced a true technical innovation' Made in India' to the Indian manufacturing sector, with the introduction of their latest line of Metal 3D Printers. These innovative, cutting-edge 3D Printers technology will be demonstrated at the' IMTEX Shape 2020' exhibition from 23 to 28 January 2020 in Bangalore.
- In June 2019, In order to make the benefit of advertised fuels available to widely valued consumers around the world, HPCL has figured out the solution by offering aftermarket fuel performance enhancing additives in compact small pouches. Vinner Petrol Plus and Vinner Diesel Plus will be available on the market in different sizes of pouches.
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