Markforged Completes Digital Metal Acquisition: Enters Binder Jet Metal 3D Printing

Share this Article

This article, originally published in July 2022, has been updated as of August 31, 2022 to discuss news of Markforged’s successful acquisition of Digital Metal.

In a surprising upset for the world of metal binder jetting, Markforged (NYSE: MKFG) has announced its intention to acquire Digital Metal. The firm has entered into a definitive agreement with Digital Metal’s parent company, Höganäs AB, to purchase the subsidiary for $32 million, thus allowing Markforged to enter into the metal binder jetting space.

Digital Metal’s metal binder jet technology dates back to 2003 and a small startup called “fcubic,” which was acquired by Swedish metal giant Höganäs in 2012. Its first commercialization came in the form of metal 3D printing services, with which it now claims to have produced over half-a-million metal parts. In 2016, Digital Metal ultimately began selling 3D printers in 2016 in the form of the DPM 2500 system. In addition to automated powder handling and semi-automated de-powdering, Digital Metal has one of the widest fully qualified material portfolios of any provider. It has qualified titanium, nickel superalloys, pure copper, common stainless steels, and low alloy 4140 steel.

The DMP2500 from Digital Meta. Image courtesy of Digital Metal.

This is a critical complement to Markforged’s existing product line. Markforged was the first to commercialize continuous carbon fiber 3D printing in 2014 before launching a bound metal extrusion technology in 2017. With the addition of Digital Metal, the company can now offer large batch production of metal parts. This gives Markforged a large footprint in the broader bound metal printing market, which includes both metal binder jetting and bound metal extrusion.

A 3D printed pure copper bullhorn antenna. Image courtesy of Digital Metal.

The move is significant for a number of reasons, the most important of which is the leverage it provides Markforged in the binder jetting market. Until now, Digital Metal was one of two companies with metal binder jetting systems in western markets, operating across three continents include North America and Europe. According to the Bound Metal & Metal Binder Jetting AM 2022 report from SmarTech Analysis, “Digital Metal accounts for just under 20 percent of global metal binder jetting hardware revenue share as of the end of 2021.”

Guhring UK’s 3D-printed metal tools have been sent to customers for testing new concepts. Image courtesy of Markforged.

The other firm is ExOne, the pioneer of metal binder jetting which was acquired by Desktop Metal. Desktop Metal and Markforged have a storied history, involving lawsuits and the launching of similar products. Desktop CEO Ric Fulop once sat on Markforged’s own board before launching his own company that included a bound metal extrusion technology and metal binder jetting products. The latter line of machines took significant time to get to market, with ExOne likely giving it a critical boost in commercializing its metal binder jetting lines. Desktop even announced a continuous carbon fiber 3D printer to compete with Markforged but has yet to bring it to market.

In other words, the two are fierce competitors for what may be more than just business reasons. They are not alone, however. While ExOne and Digital Metal dominate the metal binder jetting sector, powerful players are in the process of introducing their own versions of the technology: HP and GE. While both already have their metal 3D printers in the hands of some users, they have not yet made full commercial entries. They are expected to do so soon, however. I wouldn’t be surprised if, spurred by Markforged’s interesting move, they made their own announcements in the very near future.

Metal binder jetting is expected to play an important role in the industrialization of metal 3D printing due to the fact that large batches of parts can be made using less expensive powders and existing metallurgy workflows. Parts made with the technology must be sintered to their final form using methods familiar to the metal injection molding industry. Automotive companies like Ford and Volkswagen claim that they will use metal binder jetting to produce metal end parts in large numbers in the next couple of years.  Due to all of the above, SmarTech expects the bound metal printing segment to produce $54 billion in parts through 2030.

Therefore, Markforged is primed to take advantage of this burgeoning market with a technology that is already proven and can be accompanied by automated processing solutions. Coupled with Markforged’s own sophisticated software, which applies machine learning all across its network of customer machines, the company could become unstoppable in automotive and other sectors.

“With the Digital Metal acquisition, Markforged is advancing our vision for distributed manufacturing by enabling the reliable, high volume production of precise metal parts at the point of need. Infusing Digital Metal’s solution into The Digital Forge platform allows us to address new applications in the medical, automotive, luxury goods and other industries,” said Shai Terem, president and CEO of Markforged. “The Digital Metal team has created a robust and scalable solution that complements our existing technologies. I look forward to welcoming their talented people to Markforged.”

“Markforged’s easy-to-use platform, best-in-class software capabilities and material expertise felt like a natural fit for the future of our technology,” said Christian Lönne, CEO of Digital Metal. “With Markforged’s experience and go-to-market scale, we are confident that we will be able to grow our technology together and help more manufacturers produce the high-volume metal parts they need to drive highly productive and cost efficient operations.”

Update 8/31/22: Markforged (NYSE: MKFG) has announced that it has completed its acquisition of Digital Metal, giving the company a broader additive technology portfolio. It purchased the division from  Höganäs AB for approximately $32 million in cash, 4.1 million shares of Markforged common stock, and $1.5 million in cash dedicated to intercompany balances. Digital Metal will now operate under the same brand name and with the same team as a subsidiary of Markforged.

“We are excited to successfully complete the acquisition of Digital Metal, and officially welcome its team to Markforged,” said Shai Terem, President and CEO of Markforged. “Together, we will continue advancing our vision for distributed manufacturing by bringing the high volume production of precise metal parts directly to the point of need. By integrating Markforged’s software capabilities and global go-to-market engine with Digital Metal’s precise and reliable binder jetting solution, we expect to unlock significant opportunities to further accelerate Digital Metal adoption into our existing and future customers.”

Share this Article

Recent News

ASTRO America Moves Ahead with Guam Additive Materials & Manufacturing Accelerator

ICON’s New Wimberley Springs Project to Feature 3D Printed Homes from CODEX Catalog


3D Design

3D Printed Art

3D Printed Food

3D Printed Guns

You May Also Like


Simulation Complete: Pioneer Crew Wraps Up Year-Long Mission in 3D Printed Mars Habitat

After 378 days of living in a Mars-like 3D printed habitat, NASA’s Crew Health and Performance Exploration Analog (CHAPEA) crew emerged on July 6, 2024, bringing with them vital insights...


Alquist 3D Learns Some Lessons for the Construction 3D Printing Industry

The demolition of a home 3D printed by Alquist 3D spread like wildfire when it was reported last winter. While many took the opportunity to express their skepticism over additive...

Texas Cracks Down on Illegal Gun Switches, Including 3D Printed Ones

Texas has unveiled Operation Texas Kill Switch, a new initiative to target illegal machine gun-conversion devices, commonly known as “switches.” These tiny devices, often no bigger than an inch, can...

UK Utility Company Launches Hub for Wastewater “Printfrastructure”

With homebuilding serving as the primary marketing vehicle for additive construction (AC), we’re starting to see concrete 3D printing further drive its way into other areas of the architecture, engineering,...