The global 3D printing industry achieves double-digit quarterly growth

The analytical company SmarTech predicts that the value of the 3D printing market will continue its growing trend – in the first quarter of 2023, despite a number of economic challenges, the global market of additive technologies showed strong growth. Double-digit quarterly growth of +10% compared to the previous quarter was recorded, reaching USD 3.7 billion. This result underscores the resilience and potential of the 3D printing technology industry in a changing economic landscape.

SmarTech Analysis, which has been analyzing market data in the 3D printing industry on a quarterly basis for over eight years, indicates fairly stable investments in equipment and materials, with a simultaneous increase in the use of 3D printing services in the post-pandemic period, which fueled market growth in early 2023 . Annual results show positive trends across all sectors, with the metal 3D printing market experiencing growth of over +20% and the polymer 3D printing market growing +17%.

The main drivers of growth were general and energy industries. SmarTech estimates that the “General Industrial” sector will become the second largest recipient of metal 3D printers, giving way only to the aerospace sector. The company also notes that one of the main growth dynamics in recent years has been new companies operating somewhat on the edge of the industry, while large manufacturing concerns have not generated comparable, continuous growth.

Scott Dunham of SmarTech Analysis says that while some players in the market painted a more negative picture of market conditions earlier in the year, the 3D printing market continues to grow as the industry’s value proposition has not changed despite the economic fluctuations of the last two years.

Accelerated quarter-over-quarter growth shows that the 3D printing industry is growing faster than in the past, reflecting SmarTech’s recent prediction that the same trend will be seen year-over-year. Previously, SmarTech estimated the market would reach $25 billion by 2025, driven by annual growth of around 25%.

Source: www.3dprint.com
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