Global additive manufacturing industry shows growth in Q2 2022

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Image credit: SmartTech Analysis

The global additive manufacturing sector has generated a total of $3 billion for the second consecutive quarter of 2022, according to SmarTech Analysis.

The figure marks a 27 per cent increase in comparison with the period of 2021, but the streak of six consecutive quarters of sequential growth ended due to inflation and global supply chain disruptions, the market research and industry analysis provider detailed in its report

Still, business leaders in the industry reaffirmed their expectations, noting additive’s value in innovating manufacturing during periods of an extended supply crisis. 

SmarTech’s data also notes that the metal 3D printing market continues to grow at a faster rate than its Polymer market counterpart, with metals now accounting for 40 per cent of the additive manufacturing sector

 “Although the quarter still was a huge success for the additive industry, the overall economic condition has caught up to the industry after an excellent run of growth throughout the pandemic and into the post-pandemic age of supply chain turmoil,” said Scott Dunham, executive vice president for research at SmarTech Analysis

“We still expect 2022 to be a record-breaking year for the industry as we go into the second half of the year. The outlook beyond 2022 is also quite positive as aerospace returns stronger and new opportunities in consumer goods and energy pick up steam,” Dunham said. 

SmarTech’s quarterly report also found that persistent supply-chain pain is incenting global manufacturing players to get serious about additive manufacturing. 

“Semi-mature technologies such as metal powder bed fusion are ready to meet a certain degree of that demand, and there appears to be no slowdown in development of novel additive metal print processes to address underserved markets and applications,” the report said. 

Companies covered in the analysis include D Systems, HP, EOS, Farsoon, Prodways, Velo3D, SLM Solutions, Optomec, Trumpf, Markforged, Desktop Metal, GE Additive, and ExOne.