AMS 2024

3D Printing Industry Worth $13.5B, Will Reach $25B by 2025

Electronics
Metal AM Markets
AMR Military

Share this Article

According to its latest market data, SmarTech Analysis estimates that the 3D printing industry grew at a rapid pace of about 23% in 2022, reaching $13.5 billion. This number specifically includes additive manufacturing (AM) hardware, materials, software and services. The metals segment expanded by 25 percent, reaching $4.9 billion, while polymers grew 20 percent, achieving $7.3 billion. Software was seen as the fastest growing segment, reaching $1.2 billion in 2022. Meanwhile, the AM services sector totaled $6 billion.

The information is included in SmarTech’s quarterly data services, available as a one-time or subscription purchase. The market research firm’s “Core Metals” and “Core Polymers” data products include nearly a decade of historical quarterly data and provide 10-year forward forecasts. This latest data set includes not only the annual data but also information related to Q4 2022, which saw the lowest year-over-year growth of any quarter of 2022, yet achieved over 16 percent total expansion compared to the same period in 2021.

Rocket engine test stand at NASA Stennis

The Launcher E-2 liquid rocket engine test stand at @NASAStennis. A key facility and milestone for Launcher in 2020.

Scott Dunham, SmarTech Analysis EVP Research, commented, “Additive isn’t entirely immune from the global economic and geopolitical problems, but if there’s anything we’ve learned over the last three years, it’s that instability is generally a driver in adoption of flexible advanced manufacturing innovations. There are mixed outlooks all over different sectors of the additive market for 2023, but as usual, when taken as a whole, the expectation is that the growth will certainly still be there. There are many things to be excited about in the additive industry over the next three years.”

SmarTech highlighted some specific trends that occurred in the market in 2022, including “super applications,” in which 3D printing was used to produce large to very large, high-value metal parts that couldn’t be made any other way. This would naturally include sectors like the new space industry, for which large-format metal 3D printers are being used to manufacture combustion chambers and other elements where cost per part is secondary to factors like performance and logistics.

The company also indicated that, unlike in the past, medical applications are not driving the industry as significantly as defense and aerospace. Medical implants now represent a mature product area. These sorts of mature applications, according to SmarTech, “provide the backbone for continued R&D and become especially important in periods where investment into AM development is less desirable by financial markets due to challenging economic conditions.”

It’s interesting to note how significant the growth of the industry was in 2022, despite the larger fears of an economic recession and the faltering performance of the economy at large. SmarTech’s projections of nearly 100 percent growth over the next two years isn’t actually surprising. 3D printing has become the center of attention from government bodies wishing to implement supply chain resilience programs.

Share this Article


Recent News

Will Formlabs Merge with Markforged? — Dream 3D Printing Mergers and Acquisitions

Velo3D Is the First Metal 3D Printer OEM with the Highest-Level DoD Cybersecurity Compliance



Categories

3D Design

3D Printed Art

3D Printed Food

3D Printed Guns


You May Also Like

BAE Systems Taps AML3D to 3D Print Metal Frigate Prototype

BAE Systems Maritime Australia (BAESMA), a division of the UK’s BAE Systems, has given a contract to Australian metal additive manufacturing (AM) original equipment manufacturer (OEM) AML3D, to produce and...

Reshaping Global Supply Chains: The UK’s First Advanced Manufacturing Plan

The day before the Biden administration announced around 30 broad-sweeping economic actions planned by the White House for 2024 and beyond — all surrounding the establishment of a new Council...

$138M to Support Ursa Major’s 3D Printed Rocket Engines

Earlier this year, TechCrunch revealed that Ursa Major Technologies, the Colorado-based startup specializing in using additive manufacturing (AM) for modular rocket engines, had taken in $100 million in its Series...

$1M to Drive Metal 3D Printing Adoption in ASTRO America Project with GE, Pratt & Whitney, and Honeywell

The Applied Science & Technology Research Organization of America (ASTRO America) has partnered with Pratt & Whitney, Honeywell, and GE on a project intended to ease adoption of metal additive...