May 11, 2022
Hubs, a company in distributed manufacturing, has released their annual 3D Printing Trend Report that shows the 3D printing market is experiencing healthy growth after an initial decline because of COVID-19. According to the report, the market grew by about 19.8% in 2021, with over $15.1 billion in revenue. An analysis of research by 12 market-analyst ﬁrms shows predicted market growth of 24% to around $44.5 billion by 2026.
The report suggests that industry developments over the next several years will position 3D printing to surpass its role as a rapid and functional prototyping technology, shifting toward viable end-use parts and serial production applications. In general, more engineers are using 3D printing than in previous years—68% of respondents to an industry survey used 3D printing more in 2021 than in 2020—and the hardware market is expected
to hit a market size of nearly $10 billion within the decade.
The 3D Printing Trend Report 2022 includes insights from a survey of several hundred engineering businesses, conducted in February 2022, and systemic reviews of industry news and market analysis reports.
Forecasts in the report show a compound annual growth rate (CAGR) of 24% over the next 5 years, in line with Hubs 2020 report—and well above the 2021 report that predicted
a CAGR of 19%—indicating market recovery and increased conﬁdence in industry growth.
You can download the 3D Printing Trend Report 2022 here.
Key ﬁndings include:
- The overall 3D printing market will grow by 24% to reach $44.5 billion by 2026.
- 49% of survey respondents printed 10+ parts in their production runs, compared to 36% in 2021.
- 2D printing use is steadily moving towards more industrial production applications.
- 68% of respondents used 3D printing more in 2021 than in 2020.
- Many sources suggest the driving force in 3D printing this year will be new materials and composites.
- Companies that adopted Industry 4.0 prior to the pandemic seemed to fare better throughout COVID-19, which has pushed more companies to adopt Industry 4.0 technologies, including 3D printing.
- As a decentralized, digital manufacturing technology, 3D printing may become a viable way to support climate action initiatives, especially given the development of newer, more sustainable metal and polymer materials.
Sources: Press materials received from the company and additional information gleaned from the company’s website.
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