3D Printing Market to Quadruple, Exceeding $50 Billion by 2030 [Report]

The global 3D printing market is expected to more than quadruple over the next decade to more than $50 billion, according to a new analysis.

Boston-based tech consulting firm Lux Research found that the value of 3D-printed parts would increase at a compound annual growth rate of 15% between 2020 and 2030 — rising from $12 billion last year to $51 billion at the beginning of the next decade.

Lux analysts attributed the dramatic increase primarily to manufacturers embracing 3D printing. The report valued the market for 3D-printed end-use parts at $2.8 billion today but said that amount would grow nearly sevenfold over the next decade to $19 billion.

"3D printing will be a key in the future manufacturing landscape thanks to benefits that it can bring over injection molding, machining, casting, or other conventional methods,” Lux research director and report author Anthony Schiavo said in a statement. "These benefits include customization and personalization, the ability to create complex geometries, part consolidation, and, in some cases, lowering costs.”

Prototyping and molds and tooling — the primary uses of 3D printing to date — are also expected to continue to climb over the next 10 years, analysts said; the value of prototypes should increase from $4.4 billion to just shy of $10 billion, while molds and tooling would jump from $5.2 billion in 2020 to $21 billion by 2030.

The report also suggested although vertical integration is essential to the success of 3D printing at its current stage, the sector could eventually mirror the early computer industry and become more standardized and modular.