Additive Manufacturing / 3D Printing

Report: Additive manufacturing industry to be worth $15.8 billion by 2020

By Mike Hockett for Thomas

Nov 25, 2019

Additive manufacturing (AM), commonly known as 3D printing, has seen tremendous adoption in the manufacturing sector where its ability to create custom-designed components or entire products in small batches is highly attractive for certain producers.

As a snapshot of the market’s forecasted growth, the 2019 Wohlers Report — viewed by experts as a top source for the pulse of the 3D printing industry — forecasts that the market value for 2020 is $15.8 billion for all 3D printing products and services worldwide. That figure is expected to surge to $23.9 billion in 2022 and $35.6 billion in 2024. Likewise, a January forecast from Statista shows that global spending on 3D printing in 2019 is projected to be $13.8 billion, up 21.2% from a year earlier.

Less prevalent in market data is that of 3D printing at large-scale — used for runs of thousands of parts at a time instead of small batches of several hundred or less. However, on November 18, results from an independent study commissioned by industrial 3D printing solutions provider Essentium shows likewise growth amid use at large-scale.

To learn more, read "Industrial 3D Printing Market Expected to Hit $16 Billion by 2020 [Report]" from Thomas.