April 26, 2021
The “Additive Manufacturing Trend Report 2021” from 3D Hubs revealed the additive manufacturing market grew by 21% in 2020, to a total of $12.6 billion, and is expected to continue to grow by 17% annually over the next 3 years.
The report found further evidence of market growth on an organizational level, with 65% of engineering businesses increasing their 3D printing usage in 2020 compared to the previous year. This growth is anticipated to continue into 2021, with the majority of engineering businesses (73%) predicting an increase in their 3D printing usage this year.
The “Additive Manufacturing Trend Report 2021,” includes insights from a survey conducted in February 2021 with 1,504 engineering businesses, and a systematic review of the news and market analyst reports.
Key findings include:
- The additive manufacturing market is forecasted to more than double in size over the next 5 years, reaching a value of $37.2 billion in 2026.
- Limited accessibility to traditional manufacturing technologies accelerated additive manufacturing adoption in 2020 with 65% of engineering businesses increasing their usage of 3D printing compared to the previous year.
- The application of additive manufacturing for functional end-use parts is rapidly progressing. Fifty-four percent of engineering businesses increased their usage of 3D printing for functional end-use parts in 2020 and 30% of engineering businesses maintained their usage of 3D printing for functional end-use parts this year, showing that 3D printing should no longer be seen as a rapid prototyping technology only.
- Barriers still remain that hold 3D printing adoption back. Thirty-eight percent of engineering businesses report price and 29% report part quality as the key factors that prevent them from using 3D printing more.
- This optimism for 3D printing growth is not restricted to 2020. In 2021, 73% of engineering businesses predict they will produce or source more 3D printed parts compared to 2020.
Sources: Press materials received from the company and additional information gleaned from the company’s website.