Due to the COVID-19 pandemic, the global economy took a steep nose dive in 2020. This included the 3D printing market during the first half of the year, but our segment was one that was quick to recover, according to SmarTech Analysis. The additive manufacturing (AM) market research firm has published its latest “AM Market Data Service”, noting that revenues for the worldwide AM industry reached $2.12B in Q3 2020, compared to $1.88 billion in Q2 2020. The report—which includes revenues from hardware, materials, and print services—is available as a Polymer version and as a Metal version, in addition to various and customizable subsets.
According to the International Monetary Fund, the world economy shrunk by about six percent in 2020, as global supply chains were interrupted and quarantine measures limited work. This was good news for the Earth’s atmosphere, as carbon emissions dropped by 10 percent in the U.S. and 7 percent globally (atmospheric CO2 levels are still at their highest at 415 ppm). However, it was devastating for the livelihoods of the planet’s human population, with unemployment hitting 15 percent in the U.S. in March and April.
We saw in numerous reports that the 3D printing industry was also hit hard during the first half of the year, which included lay-offs and sharp reductions in revenues. However, what the SmarTech report indicates is that the segment was able to recover quite significantly. In part, this is reflective of national economies overall. The CNBC chart below shows how, likely due to quicker containment of the virus, the Chinese economy was able to turn around quickly before other nations began to catch up.
At the same time, the value of 3D printing amid the supply chain disruptions caused by the pandemic became evident. By the end of the year, we saw numerous stories indicating that the AM industry was primed for growth, including investments and acquisitions. There is, once again, renewed interest in 3D printing stocks, as well. In turn, the segment grew from $1.88 billion in Q2 to $2.12B in Q3 2020.
Image and data courtesy of SmarTech Analysis.
The new report is from SmarTech’s “AM Market Data Service,” which is a 3D printing analyst service that allows companies to access industry data at a highly granular level. Clients can purchase customizable datasets from SmarTech that provide insights into just about any sub-segment of the AM industry imaginable. Think specific materials shipments to particular countries and end user industries, broken down by 3D printing process. This information is gathered by the market research firm through a combination of continuous interviews with industry insiders along with examinations of public company financials.
With an annual subscription, quarterly datasets are provided through the “AM Market Data Service”, with additional consulting available to provide custom data to clients when more granular information is needed than given with the standard offerings. Data reports can also be purchased individually, outside of the subscription program.
While some insight from SmarTech will be made available through lectures at the upcoming Additive Manufacturing Strategies (AMS) conference and exhibition, Feb 9-10, 2021, it’s also possible to purchase SmarTech reports here. More information about AM Market Data Service can be had by clicking the embedded link or you can contact info@smartechpublishing.com.