Industrial 3D Printing Market Expected to Hit $16 Billion by 2020 [Report]

Additive manufacturing (AM), commonly known as 3D printing, has seen tremendous adoption in the manufacturing sector where its ability to create custom-designed components or entire products in small batches is highly attractive for certain producers.

As a snapshot of the market’s forecasted growth, the 2019 Wohlers Report — viewed by experts as a top source for the pulse of the 3D printing industry — forecasts that the market value for 2020 is $15.8 billion for all 3D printing products and services worldwide. That figure is expected to surge to $23.9 billion in 2022 and $35.6 billion in 2024. Likewise, a January forecast from Statista shows that global spending on 3D printing in 2019 is projected to be $13.8 billion, up 21.2% from a year earlier.

Less prevalent in market data is that of 3D printing at large-scale — used for runs of thousands of parts at a time instead of small batches of several hundred or less. However, on November 18, results from an independent study commissioned by industrial 3D printing solutions provider Essentium shows likewise growth amid use at large-scale.

The survey polled 162 managers and executives across a mix of roles from manufacturing companies of various sizes and end markets around the world about their experiences, challenges, and trends with 3D printing for production manufacturing. The findings showed that:

• 40% of respondents are using 3D printing for full-scale production — nearly double the 21% who indicated so a year earlier
• Two-thirds of companies report they have more than doubled their use of industrial-scale AM
• 47% are now using the technology for runs of thousands of printed parts — up 17% from 2018
• 58% of respondents say reduced costs are a key driver for adoption, while 61% say they are adopting large-scale 3D printing to reduce lead times. Furthermore, 59% believe adoption will benefit them via mass customization, 59% are looking to increase speed-to-part production, and 51% want to achieve high part performance.

"We have bet big on our vision to smash through the limitations surrounding industrial-scale additive manufacturing so that customers can benefit from the transformative impact of this incredible technology,” said Blake Teipel, Essentium co-founder and CEO. "The survey clearly shows that manufacturers are on board with our vision and additive at scale is now a reality, giving them new ways to become more competitive on a global scale.”