Additive manufacturing market hits $14.7 billion in 2023, sees 13% growth – AM Research

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Additive Manufacturing Research (AM Research) has unveiled the market performance for the fourth quarter of 2023, marking a year of challenges for the additive manufacturing (AM) sector.

Despite a resurgence in overall market sentiment, the growth rate for all facets of 3D printing hardware, materials, software, and services stands at an estimated 13.5 per cent, totalling $14.7 billion in 2023 compared to the previous year.

The AM metals segment displayed robust growth, outstripping polymers with a nearly 15 per cent increase, while polymers saw just over 10 per cent growth, the research firm said in a news release.

The AM services market reached $6.7 billion, reflecting growth nearly parallel to the total AM industry. However, fourth-quarter AM hardware revenues experienced a modest increase of less than one per cent compared to the same period in 2022.

Annually, hardware revenues across both metals and polymers recorded a growth of just under six per cent in 2023 versus 2022.

In conjunction with the fourth-quarter 2023 report, AM Research introduced a new quarterly product titled “3DP/AM Market Insights.”

This offering combines written analysis with proprietary charts and data tables to provide comprehensive insights into the AM market, supplementing AM Research’s existing Core Metal and Core Polymer market data products.

Scott Dunham, executive vice president at AM Research, commented on the market’s performance, stating, “An abnormal, up-and-down year for the AM market ended about the same as it began – with shifting trends in system purchasing making a lot of headlines and depressing revenue growth.”

He continued, “Still there exists a real appetite for AM technology that is likely to break loose in the near term, driven by a combination of government spending and maturity in key markets. We expect a return to normal historical growth levels this year. Longer term, AM is still the technology to watch for manufacturing evolution.”

Key industry players included in AMR’s Core Metals and Core Polymers tracking data and 3DP/AM Market Insights report encompass 3D Systems, Stratasys, Markforged, Desktop Metal, Velo3D, Nikon SLM Solutions, EOS, GE Additive, Trumpf, Farsoon, BLT, HBD, Eplus, Optomec, BeAM, HP, Formlabs, Prodways, DWS, and Carbon.

Additive Manufacturing Research’s “Core Metals” and “Core Polymers” market data products feature nearly a decade of historical quarterly data and offer 10-year forward forecasts.

Quarterly reports on the metal and polymer AM markets are available for one-time or subscription purchase via AMR’s website and can be customized as required.