3D Printing Markets Totaled $3.47B in Q1 2024, Year Over Year Growth of 8%, AM Research Publishes Quarterly 3DP/AM Market Data and Insights Report
NEW YORK, NY – Additive Manufacturing Research (AM Research) has published its Q1 2024 3D printing market data and written analysis. Some positive signs emerged in certain pockets of the AM industry during the first quarter of the year, but the positive momentum continues to be bottlenecked by hangups in the sales of new AM systems. Growth in the value of 3D printing materials sold was very solid year over year in Q1 2024, a continued indication that demand for AM remains healthy in many areas. The 3D printing services market grew as well, in part thanks to a better Q1 in the dental market compared Q1 2023.
AM Research’s quarterly 3DP/AM market data product represents the most thorough and accurate data available worldwide, tracking markets by individual vendor, by print technology, by geography, and by application (industry).
AM Research has also published its “3DP/AM Market Insights: Q1 2024”, a written analysis combined with proprietary charting and graphs, which provides color and context to AM Research’s traditional Core Metal and Core Polymer market data products.
Scott Dunham, EVP, AM Research, commented, “Stakeholders in the AM world have learned that it’s very difficult to cater to every possible use case for additive and still be successful, but that means in the current climate and maturity of AM adoption, there are winners and losers each period as certain segments perform strongly and others do not. Many companies are showing better backlogs and orders for the rest of the year, but we should be cautious about anticipating a major rebound the rest of the year.”
Companies included in AMR’s Core Metals and Core Polymers tracking data and 3DP/AM Market Insights report include but are not limited to: 3D Systems, Stratasys, Markforged, Desktop Metal, Velo3D, Nikon SLM Solutions, EOS, GE Additive, Trumpf, Farsoon, BLT, HBD, Eplus, Optomec, BeAM, HP, Formlabs, Prodways, DWS, and Carbon.
About the Report
Additive Manufacturing Research’s “Core Metals” and “Core Polymers” market data products include nearly a decade 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 AMR’s website and are customizable as needed.
AM Research’s quarterly 3DP/AM Market Insights written analysis report is also available for purchase or as a standalone product.
For more information on these market data reports and other specialty market reports, please visit: http://www.additivemanufacturingresearch.com/reports
From the Report
- Print Services consolidation, including CORE Industrial Partners’ go-private acquisition of Fathom, highlight the need for a somewhat rare combination of providers who house both expertise specific to additive manufacturing and resources that span across manufacturing capabilities and markets. Excluding the dental labs and biomedical companies, the market for print services for industrial and durable goods is expected to exceed $5B in global revenues for the first time in 2024.
- Defense initiatives are seen continuing to translate into real opportunities in Q1 and beyond for the 3DP/AM industry. Two significant announcements from Bechtel Plant Machinery Inc (BPMI) illustrate this trend in action.
- In Q1 2024, the metal powder bed fusion market in shrunk year over year for only the second time in the last decade. However, once again the result was not equal for all, with vendors such as Trumpf, Renishaw, 3D Systems and Nikon SLM Solutions all marking significant sales wins.
- Dental is the single most influential market for polymer AM technologies, and the most mature, but there is still an immense amount of opportunity awaiting to be exploited in the dental market via 3D printing. Align’s acquisition of Cubicure speaks to efforts towards the direct printing of new classes of dental devices from materials robust enough to serve new applications, like palate expansion devices and directly printed clear orthodontic aligners.
