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What can we expect from the additive manufacturing market over the next five years? – 3D residents

Research and Markets 2023 began with the publication of a study on the global additive manufacturing market. The company estimates its revenue to be $44.03 billion by 2027, compared to $16.83 billion this year, an annual growth rate of 21% if we take the 2021-2027 range. There is no denying that the industry is growing and has the potential to deliver even higher results especially when looking at the general manufacturing market in this way – there is real scope for the 3D printing industry. The report pays special attention to growth drivers, and highlights the increasingly important role of governments and public authorities: they can boost technology adoption through subsidies and ad hoc actions. It also highlights the trend towards miniaturization, with a place for fine print.

The growth of the additive manufacturing market is no longer a secret to anyone, and we are convinced that the coming years will bring us big surprises. However, it is not always clear what drives this sector: machines, materials, applications, software? Which sector is more promising? The Research & Markets report provides some clues, analyzing the most popular type of 3D printers, common materials, applications, components, and finally regions. In Europe, for example, Italy should be the main driver of growth over the next five years.

Additive Manufacturing Market Growth (Image credits: Research & Markets)

Additive manufacturing market growth factors

According to the study published by Research and Markets, the additive manufacturing market has to hit More than $44 billion in 2027. This growth can be explained by the increased need for personalized medicine, with 3D technologies making it possible to design tailored tools and devices; Strong resumption of activity in the aviation industry, compared to interruptions caused by COVID-19; Finally, there is a strong demand for light parts from the automotive sector. Here, the use of composite 3D printing may be particularly interesting. These three segments are certainly not the only ones generating revenue for the market but they remain the most important – keeping a close eye on consumer goods and electronics.

Finally, if we move away from the sectors of activity, the report mentions the growing role of governments. With financing, they can greatly facilitate the adoption of the technology and enhance its benefits. This is already the case in many countries and this would explain the growth of the market. In France, there is still a lot of room for improvement – in 2017, the government established the “Industry of the Future” loan to support commercial investment in 3D printing; In 2021, encourages 3D printing of spare parts to fight waste. It’s all too easy to imagine how much the health crisis has slowed down these initiatives, but it’s time to update them.

Market analysis by sector

If we now look at the market structure as such, the study first looks at 3D printers, and categorizes them by type. Thus he distinguishes between office machines and industrial solutions. In 2021, 3D printers have the largest share of the market, but it seems that desktop solutions will become even more important in the coming years. In fact, it seems that people are going to invest more in 3D printers for personal use, right at home. The number of users will also increase in universities, research centers and schools. This second hypothesis seems more plausible. We believe less in the adoption of 3D printing for a specific use, especially in recent years when we see an increasingly consolidated market, in search of productivity, automation and manufacturing. phenomenon that must be closely monitored.

3D printer at home, myth or reality? (Image credits: Zortrax)

Moreover, if we are now interested in the materials sector, it seems that we follow this idea of ​​​​manufacturing more. In fact, the report states that the next five years will be boosted by the use of metals in additive manufacturing. Although there are more and more metallic threads, one of the most widely used processes remains laser fusion on the powder coating, which is a very heavy industrial technology in terms of investment and uses. On the application side, Research and Markets divides them into three groups, namely prototypes, tools, and functional parts. Prototyping remains the most important part, where all processes, materials and sectors are combined.

Finally, we will finish with the geographical analysis. Not surprisingly, the North American market continues to drive market growth, thanks in particular to more substantial R&D investment. Technologies are further developed there and adoption of 3D technologies is more rooted in mentalities. In Asia, China will lead the progress in additive manufacturing.

There are still many challenges that need to be overcome in order for the additive manufacturing market to fully develop, such as lack of standards and certification, or investments that are still high. But if we consider the past five years and all the progress that has been made, additive manufacturing has a very bright future ahead of it! If you want to go further, you can purchase the report here.

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*Cover photo credits: KUKA

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