Additive Manufacturing Industry Grew 23 Percent in 2022
SmarTech estimates AM market reached $13.5 billion in 2022, and will grow to $25 billion in 2025.
March 21, 2023
The fourth quarter of 2022 capped a strong year for additive manufacturing markets, according to SmarTech Analysis. Even in the face of uncertain economic conditions, the growth rate for all 3D printing hardware, materials, software and services is estimated to be 23% (to $13.5 billion) for 2022 compared to 2021. Specific to Metals, the market grew 25%, to $4.9 billion. Specific to Polymers, the market grew 20%, to $7.3 billion. Software, the faster growing segment, totaled $1.2 billion in 2022, while the additive manufacturing Services market totaled $6.0B.
Beyond the annual data, the report also provides numbers for Q4 2022. The fourth quarter saw the lowest year over year growth of any quarter of 2022, but still managed over 16% total growth over the same period in 2021.
“Additive isn’t entirely immune from the global economic and geopolitical problems, but if there’s anything we’ve learned over the last three years, it’s that instability is generally a driver in adoption of flexible advanced manufacturing innovations. There are mixed outlooks all over different sectors of the additive market for 2023, but as usual, when taken as a whole, the expectation is that the growth will certainly still be there. There are many things to be excited about in the additive industry over the next three years,” said Scott Dunham, SmarTech Analysis EVP Research.
Sources: Press materials received from the company and additional information gleaned from the company’s website.