According to Additive Manufacturing Research, the 3D printing markets reached a standstill at $3.52B in Q2 2023.

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Despite a 10 percent quarterly growth in the first quarter of this year, the 3D printing market experienced a stall of less than one percent in the second quarter, according to Additive Manufacturing Research (AMR). The slowdown is attributed to economic challenges that have affected hardware investments. Despite this setback, the additive manufacturing (AM) sector, which includes hardware, materials, software, and services, reached $3.52 billion in Q2, compared to $3.5 billion in the previous quarter. Looking ahead, AMR projects that the industry will reach $46 billion by 2030. This is a significant increase from the previous estimate that projected the 3D printing sector to hit $25 billion by 2025.

The compound annual growth rate (CAGR) for the second half of the decade is projected to be 12.87 percent, which is just over half of the previous CAGR of 22.48 percent. The overall CAGR from 2022 to 2030 will average out to 13.98 percent. This revised projection seems reasonable given the current trajectory of the market. Global activities indicate that we are entering the fastest growing period for 3D printing, with national governments and corporations investing more than ever before. This investment is driven by the need for supply chain insurance and the desire to achieve sustainable, local production.

China’s AM market has experienced a 30 percent growth in the past three years, and the US is aiming to match or surpass that rate. Government support for developmental initiatives and substantial contractual deals will contribute to greater adoption of 3D printing in the commercial sector. AMR’s latest market data products, “Core Metals” and “Core Polymers,” provide historical quarterly data and 10-year forward forecasts for the industry. These reports can be purchased through AMR’s website and customized as needed.

Despite the impact of high interest rates on equipment financing, metal AM markets have remained relatively strong in Q2. The 3D printing services sector experienced mixed results, with a slight drop from Q1 and underperformance in the dental sector. However, the overall AM sector has shown growth compared to the previous year, with the total metal 3D printing segment up over 16 percent and the polymer segment up 13 percent.

Mergers and acquisitions are also shaping the market, with Nikon, Align Technology, and Stratasys making significant moves. While these consolidations may initially hamper growth, they are expected to result in organizations with the financial resources and specialized knowledge to drive the expansion of additive manufacturing.

One of the most promising opportunities in the industry is the market for metal powder, which is experiencing a surge. As hardware companies compete to innovate and secure market share, a growing and sophisticated customer base is driving demand for metal powder. It is projected that by the end of 2023, the use of additive metal powder will double compared to pre-pandemic levels.

Scott Dunham, AMR’s EVP of Research, noted that the impact of interest rates on the ability to invest in AM machines has been a consistent trend. However, the utilization of existing AM equipment continues to grow, creating valuable markets for materials. Print services may be more affected by supply chain fluctuations.

As the 3D printing market moves forward, it will be important to monitor the industry’s progress and adapt to the changing landscape. Despite some temporary setbacks, the future of additive manufacturing looks promising, with continued growth and innovation on the horizon.

Title: Unveiling a New Chapter: Introducing Additive Manufacturing Research

Introduction:

The 3D printing industry has undeniably revolutionized manufacturing processes across various sectors. As technology continues to evolve, so does the need for specialized and in-depth analysis of this rapidly expanding market. Today, we are thrilled to announce a significant milestone for our team at SmarTech Analysis – we have officially changed our name to Additive Manufacturing Research (AMR). This new name reflects our unwavering commitment to providing unparalleled insights and expertise in the field of additive manufacturing. For nearly a decade, AMR has been at the forefront of tracking and analyzing major trends within the 3D printing industry, making us the go-to source for industry analysis globally.

Unrivaled Expertise:

At AMR, we pride ourselves in our extensive knowledge and experience in monitoring the 3D printing and additive manufacturing market. Our team of expert analysts diligently collect and analyze data every quarter, resulting in the most comprehensive and longest-standing quarterly industry analysis available. This wealth of information allows us to provide accurate insights, identify emerging trends, and help businesses make informed decisions in this ever-evolving market.

The Power of Additive Manufacturing:

The potential of additive manufacturing is boundless, and its impact can be witnessed across various sectors – from healthcare and aerospace to automotive and consumer goods. As the technology continues to advance, it is crucial for businesses to stay up-to-date with the latest developments. By subscribing to our newsletter, you gain access to the most relevant and up-to-date news from the 3D printing industry. Additionally, we provide valuable information and offers from trusted third-party vendors, ensuring you have all the resources necessary to harness the power of additive manufacturing.

Conclusion:

Additive Manufacturing Research (AMR) is excited to embark on this new chapter as we continue to track and analyze major trends in the 3D printing industry. Our name change reflects our commitment to providing accurate and specialized insights within the additive manufacturing space. With our wealth of industry knowledge and the most extensive quarterly industry analysis available, AMR is the leading source for businesses seeking to stay ahead in this transformative field. Subscribe to our newsletter today and join us in unlocking the endless possibilities of additive manufacturing.

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