In its latest quarterly report, SmarTech Analysis anticipates tremendous growth for the 3D printing industry after an already a successful first half of the year. In an analysis that was sent to advisory services clients last week, the sector’s leading market analysis firm suggests that all sectors of additive manufacturing (AM) are going to experience historic growth in the near future.
SmarTech’s quarterly reports are released in the form of a regular subscription, as well as a one-time purchase to non-subscribers. They build on continuous data input from the industry, interpreted by the firm’s expert analysts. By tracking critical market metrics since 2017, SmarTech has developed a database for subscribers to follow trends and segment performance. In this case, the report covers both the metal and polymer segments of the industry, providing even greater insight into the state of the industry.
The market research firm previously predicted over a year ago that the AM industry would bounce back once the COVID-19 was more contained, further suggesting that attention given to the sector would quickly accelerate growth. Now, 3D printing businesses have rebounded from the pandemic. The new report discusses the implications, the state of recovery, as well as what is driving growth.
According to SmarTech, quarterly revenues have exceeded pre-pandemic levels and are set to increase growth at a faster rate throughout the second half of the year. Already, the second quarter has “smashed year-over-year performance,” the firm noted. You can sense this when reading the quarterly financial reports from firms like 3D Systems, ExOne, Stratasys, and SLM Solutions, which have all performed well, particularly in this last quarter. For a complete list of 3D printing stocks, visit the 3DPrint.com Stocks Zone.
The market research firm noted that, as expected, hardware sales did rebound in the first half of the year, as did material and service sales, suggesting that this is not a mere bounce-back that the global economic market experienced but a more-than-healthy recovery. The total additive market, including printers, materials, and third part 3D printing services, generated about $4.7 billion in revenues during the first half of 2021, about the same as was seen in the first half of 2019. SmarTech anticipates even greater growth across the industry, from firms like Desktop Metal to 3D Systems and more, in the second half of the year.
As of June 2021, contract manufacturers were introducing additive technology at rates so far unseen. Companies such as Poral, Hyde Aero Products, Marotta Controls, and Matsuura introduced AM services for the first time in the second quarter, indicating that adoption and growth are promising.
The report also notes that multiple new providers of electron beam powder bed fusion (E-PBF) “made significant first commercialization steps. This includes the sale of the first Calibur3 machine from Wayland Additive in the U.K. More E-PBF machines means more growth in the metal AM hardware market in 2022, complementing the laser wars that began last year, in which numerous firms announced high-capability laser PBF systems with up to 12 lasers.
The full report can be found on the SmarTech website here, where customers can choose to enroll in the quarterly Data Services subscription or purchase it as a one-time product.
Subscribe to Our Email Newsletter
Stay up-to-date on all the latest news from the 3D printing industry and receive information and offers from third party vendors.
You May Also Like
Wimba Aims to Mainstream 3D Printed Animal Prosthetics
While additive manufacturing (AM) has been used to produce prosthetics for humans and animals, there have yet to be many dedicated businesses for applying the technology strictly to making them...
A First-Timer’s “Definitive” Guide to Surviving Formnext
Believe it or not, this year was my very first time attending the additive manufacturing (AM) industry powerhouse event known as formnext, which has been held in Germany for eight...
Desktop Metal: AM 2.0 Highlights from the Formnext Show Floor
Formnext, the leading international platform for Additive Manufacturing and industrial 3D Printing, returned in full swing to the halls of the Frankfurt convention center in Germany this November. With challenging...
3D Printing News Briefs, November 26, 2022: 3D Printed Coral Reefs & Moon Habitat & More
In today’s 3D Printing News Briefs, Carbon’s bioabsorbable elastomer platform is biocompatible in vivo, while researchers in Germany and Australia developed a 3D printing resin and dedicated printer that enable...