3D Printing Market Growth Stalled at $3.2B in Q3 2023 for Third Quarter in a Row, According to New Data from Additive Manufacturing Research

News provided by

Dec 13, 2023, 08:32 ET

NEW YORK, Dec. 13, 2023 /PRNewswire/ -- The global additive manufacturing (AM) market recorded 1% estimated sequential decline in Q3 2023 versus Q2 2023, despite still maintaining a 13% year over year growth, according to new data from Additive Manufacturing Research (formerly SmarTech Analysis). This top line metric accounts for printers, print materials, and print production services, and is applicable to both the polymer AM and metal AM markets.

Total AM Primary Market Revenues, All Technologies and Regions, By Segment (Source: Additive Manufacturing Research)

Additive Manufacturing Research has tracked 3D printing and AM market data on a quarterly basis for nearly a decade and its market data represents the longest running and deepest quarterly industry accounting available worldwide.

Scott Dunham, AM Research EVP, commented, "The impacts of the macro environment and higher costs of capital are being seen in AM market numbers, mainly in hardware sales, while materials sales remain healthy. Demand for print services in the quarter were mixed, as companies still struggle to deal with supply chain problems, but shorter backlogs have reduced the opportunity costs of not acting to put in place new solutions such as AM. Additionally, product development spending appears to be down, which impacts AM services. We expect some market softness to continue through 2024 due to interest rates, and growth in AM during this time to be driven by existing influential users who continue to scale up their activities."

Companies included in AMR's Core Metals and Core Polymers tracking data include but are not limited to: 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.

About the Report

Additive Manufacturing Research's "Core Metals" and "Core Polymers" market data products include nearly a decade of historical quarterly data and provide 10-year forward forecasts. Quarterly reports on the metal and polymer AM markets are available as a one-time or subscription purchase via AMR's website and are customizable as needed. For more information on stand alone reports or ongoing subscription services for the additive market, go to: http://www.additivemanufacturingresearch.com/data-services

From the Report

Metal AM hardware declined sequentially in a Q3 period for the first time since AM Research has been tracking the market, declining 8% on a quarterly sequential basis compared to Q2. Still, the hardware market has been able to generate almost 7% growth in a year-over-year comparison.
Polymer AM hardware sales similarly declined 8% versus the second quarter of this year, representing just a 1% year over year increase. However, polymer AM materials growth kept the overall polymer AM market mostly flat on a sequential basis. Notable themes include reduced prototyping activity in certain industrial and consumer markets, along with some instability in the dental markets. A slight improvement is projected for Q4 2023.

About Additive Manufacturing Research:
Since 2013, Additive Manufacturing Research (formerly SmarTech Analysis) has published reports on all the important revenue opportunities in the 3D printing/additive manufacturing sector and is considered the leading industry analyst firm providing coverage of this sector. AMR's analysis and data drives strategy development in the additive industry and has been adopted and presented by many of the industry's largest firms.

For more details on our company: http://www.additivemanufacturingresearch.com/

Contact:
[email protected]

Press Contact:
Jake Thomas
[email protected]
(248) 382-8043

SOURCE Additive Manufacturing Research