AM Data Slice: 3D Printing Materials to Reach $3.9B in 2024

“AM Data Slice” from Additive Manufacturing Research (“AMR”) is a regular segment that offers readers an insightful dive into the additive manufacturing (AM) landscape, showcasing pivotal statistics and trends derived from AMR’s exhaustive research. With this week’s chart, AMR outlines the global revenue from 3D printing polymer and metal materials from 2021 through a forecast for 2024.

In 2021, the revenue for polymer materials was $1.6 billion, while metal powders generated $495.4 million. With a compound annual growth rate (CAGR) for polymers from 2021 to 2024 estimated to be about 18.59%, the forecast for 2024 anticipates polymer materials to reach $2.7 million. In contrast, metal powders are expected to grow at a CAGR of around 30.52% over the same period, achieving $1.1 million in revenue in 2024.

The fact that metals are growing at double the rate of polymers largely reflects the overall maturity of their respective markets and technologies. Now that processes like polymer powder bed fusion (PBF) and fused deposition modeling have proliferated, metal AM is in the process of rapid adoption. Driven by new levels of throughput, metal PBF in particular is helping to push this expansion. Growth of the market overall is also being driven by the interrelated trends of supply chain resilience and sustainable production. The ability to produce parts on-demand reduces dependency on traditional supply chains, which can be vulnerable to disruptions.

The increasing revenues suggest a maturing market with expanding production scales. As the market grows, economies of scale may lead to reduced costs for both printers and materials, making 3D printing more accessible to smaller businesses and even individual consumers. This democratization of manufacturing technology could spur innovation and entrepreneurship, further driving market growth.