Additive Manufacturing Industry Grew 18 Percent In 2021 To $10.6B Reports SmarTech Analysis; Projects $50.8B By 2030

NEW YORK, April 6, 2022 /PRNewswire/ -- The fourth quarter of 2021 capped a strong year for additive manufacturing markets, according to SmarTech Analysis. The growth rate for all additive hardware, materials, software and outsourced services is estimated to be 18 percent (to $10.6B) for 2021 compared to the same period in 2020. Specific to Metals, the market grew 16 percent, to $3.9B. Specific to Polymers, the market grew 13 percent, to $5.8B. Software is believed to have grown significantly from 2020 to account for the remainder and worth nearly $900M in 2021.

Beyond the annual data, the report also provides numbers for Q4 2021. The fourth quarter saw the recovery trend continue with strong single digit year-over-year growth, and healthy continued sequential growth compared to Q3 2021.

Scott Dunham, SmarTech Analysis EVP Research, commented, "Clarity and context are extremely important when considering 3D printing market data. Our top line numbers comprise additive hardware, materials, software, and outsourced services only. These totals do not include ancillary equipment which is utilized in AM production, or service contract revenue from machines sold. Even without these peripheral markets, the 3D printing industry's core market data supports a very consistent historical upward trend. A slight COVID-related downtick in 2020 has given way to increased adoption due to technological improvements and increasing economies of scale. Perceived value of AM technologies has ramped up with consideration towards risks to globalization posed by the pandemic and the Russia-Ukraine war. This is all reflected in our data and forecasts."

SmarTech's "Core Metals" and "Core Polymers" market data products include four years 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 SmarTech'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.smartechanalysis.com/data-services

• One of the primary underlying growth drivers for the 2022 AM outlook is the advancement of standardization in additive manufacturing at the industry level. Throughout 2021, progress was made in dozens of standards development projects, and in the fourth quarter alone several key publications -such as the ASTM International F3529 standard for material extrusion -were announced and will pay dividends in terms of growth in the short term
• A number of key product refreshes in the metal powder bed fusion segment throughout 2021, and especially in the fourth quarter coinciding with the Formnext tradeshow, will also prove to capitalize on the forward momentum and interest in additive technologies in post-COVID corporate manufacturing strategy. New product lines and system updates from 3D Systems, Additive Industries, Renishaw, and others will all likely come to market in early 2022 to reenergize the competitive landscape and provide prospective users with even more opportunities to leverage AM to create value in their organizations
• Two end user markets stood out in particular in terms of AM adoption during 2021, especially during a year of numerous ongoing challenges with supply chain delays and disruptions. These were the dental market, and markets for consumer goods. In dentistry, key players saw outstanding growth even as the dental industry has become AM's most 'mature' market. In consumer goods, dozens of projects and applications were highlighted throughout the year for both metals and polymers which serve as a beacon for other companies in the sporting goods, cycling, appliances, and electronics sectors to look to as they also seek to benefit from additive in 2022 and beyond, creating compounded growth

SmarTech Analysis, a division of 3DR Holdings, publishes reports on revenue opportunities in the 3D printing/additive manufacturing sector and is considered the leading additive manufacturing industry analyst firm. SmarTech analysis and its data drives strategy development in the additive industry.

For more details on our company go to www.smartechanalysis.com 

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SOURCE SmarTech Analysis

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