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Markforged, EOS, Airtech among the key top 10 companies in composites AM

New market study from VoxelMatters identified the leading players in a $785 million global market that grew by 21% in 2023

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Markforged in filament extrusion (hardware and materials), EOS in powder bed fusion (hardware and materials) and Airtech in LFAM (materials and services) are among the key companies in the top 10 market leaders of the Composites AM segment. This new data comes from VoxelMatters Research, a leading market analysis company specializing in tracking the global additive manufacturing (AM) industry, and its newly released its study on composites additive manufacturing.

Click on the image for more information on the report.

The new 250-page report, Composites AM Market 2024, reveals that the overall composite additive manufacturing market experienced a year-on-year growth of +21.1%, with the total market value increasing from $648 million in 2022 to $785 million in 2023. The study on 172 hardware manufacturers, 153 material suppliers, and 421 service providers shows this expansion in value is noticeable across the board. Hardware sales went from $278 million to $330 million, showing a +18.5% YoY increase. The Materials segment experienced the highest growth, going from $148 million to $187 million, a +26% increase. Services (AM Service Bureaus) went from $221 million in 2022 to $268 million in 2023, a +21.2% YoY growth.

Representing a young market still very much based on technology development and adoption, the most significant companies in the composites AM market are primarily hardware manufacturers, each holding a leadership (and often pioneering) position in a specific composite AM technology or an important new evolution of a specific technology. Most of these companies also generate revenues as first-party, and sometimes third-party, material providers or as AM service providers.

Let’s look at the top 10 companies in composites AM by revenues.

Markforged

The largest in terms of revenue is Markforged. This US company emerged less than a decade ago from the open-source filament material extrusion 3D printing segment with its unique CFF (Continuous Fiber Fabrication) technology. Today, Markforged is a public company with revenues of around $94 million in 2023. Its role is particularly strategic as it is by far the most advanced company in terms of hardware installed base and the only one proficiently marketing a continuous fiber 3D printing technology.

Markforged, EOS, Airtech among the key top 10 companies in composites AM in new market study from VoxelMatters
The newest FX10 system from Markforged

CFF technology combines thermoplastic filament (including chopped fiber-reinforced filaments) with continuous fiber to create high-strength composite parts. Markforged’s industrial-grade printers, such as the X-Series, use CFF to produce parts that have exceptional strength, stiffness, and durability. These printers can utilize materials like carbon fiber, fiberglass, and Kevlar. In addition to industrial solutions, Markforged also offers desktop printers. The Mark Two and Mark One (Onyx Pro) desktop printers feature CFF technology and support materials like Onyx (carbon fiber-filled nylon). Other interesting players such as Singapore-based Anisoprint and Austria-based APS are also targeting this segment.

Markforged, EOS, Airtech among the key top 10 companies in composites AM in new market study from VoxelMatters
The F123CR series system.

Stratasys

Stratasys is also a highly relevant company for filament extrusion of composites AM although not as focused as Markforged. Over 30 years ago, Scott Crump, the founder of Stratasys, invented FDM (the first-ever filament material extrusion technology). Through several acquisitions, Stratasys has become the world’s largest 3D printing company in terms of annual revenue and offers a range of 3D printers across five different technological categories. In 2018, the company introduced the Fortus 380mc Carbon Fiber Edition, its first FDM system dedicated specifically to carbon-fiber-filled Nylon 12. As part of its transition to the F-line brand, Stratasys now offers the F123CR Series composite 3D printers, in addition to the F190CR and F370CR systems. This composite-ready printer family builds on the simplicity of the F123CR Series printers to provide carbon-fiber 3D printing for more demanding applications. Other companies active in the market segment for chopped fiber composite filament extrusion 3D printing with dedicated systems include Raise3D and Roboze.

Markforged, EOS, Airtech among the key top 10 companies in composites AM in new market study from VoxelMatters
The EOS P810 for high temperature composites

EOS

Within the polymer PBF segment for composites, EOS is by far the most specialized company. The German company founded by Dr. Hans J. Langer leads the industrial SLS 3D printing market and is therefore also a leader in the composites SLS segment. In addition, EOS is the only company that has introduced advanced systems for high-performance composite PEKK powders, such as the EOS P 810. Although this system is not aggressively marketed, it is notable as it can process the EOS HT-23 PEKK polymer from Arkema to create parts that can withstand temperatures well above 200 °C. Composite specialist Hexcel also offers the HexAM service for making composite PEKK parts using modified EOS systems, leveraging a proprietary process acquired from Oxford Performance Materials (OPM).

HP

Since launching MJF technology in 2016, HP has focused on high-throughput production for end-use parts, radically altering the global AM scenario. As production rates increased, the workflow’s complexities evolved significantly in the new generation HP Jet Fusion 5200 systems. While its impact on AM – and thus on composites AM as well – has been significant, HP is not yet highly focused on composite materials. Today, the company’s hardware supports one composite material, the HP 3D High Reusability PA 12 Glass Beads. This is a 40% glass bead-filled thermoplastic material, with high stiffness and reusability, available on the 5200 and 4200 platforms.

Markforged, EOS, Airtech among the key top 10 companies in composites AM in new market study from VoxelMatters Airtech

Airtech has emerged as the leading supplier of composite pellet materials for LFAM technologies. After larger companies such as SABIC and Techmer divested from this market segment due to its limited size, Airtech filled the gap by establishing partnerships with leading LFAM hardware developers worldwide, including companies like Caracol and CMS. Airtech has developed a series of innovative composite resins (ABS, PETG, PC, PEI, PESU) under the Dahltram brand for use in large-scale 3D printing. These resins address the need for lower CTE and increased durability when used at both low and high temperatures, including in an autoclave. They are designed for use in any pellet-fed material extrusion 3D printing system.

Other top players in the composite AM industry

The remainder of our top 10 list considers other established and rising companies that in many cases are targeting similar segments as the top 5 companies listed above. In sixth place, we have 3D Systems, which has been a major first-party provider of 3D printing composite powders for its SLS platforms, including carbon fiber-reinforced and glass-reinforced nylon powders, as well as mineral-filled nylon powders. More recently, the company entered the LFAM segment with the acquisition of the US-based company Titan and is now becoming an increasingly relevant supplier of composite materials in pellet form.

Further down we have Ingersoll (part of Camozzi Group) a company that, along with Cincinnati Incorporated (which has now exited the segment) and Thermwood, was among the first in the world to develop LFAM capabilities for composite materials. The company sells machines in both North America and Europe and can leverage its extensive expertise in the high-end CNC system to produce very large machines with price tags of over 1 million dollars. Recently, the LFAM market has grown significantly and new players have emerged such as CMS in the gantry-based segment, as well as several other operators in the robotic LFAM segment.

Among the leading AM service providers – especially for PBF but also for FDM of composite materials – we find Materialise and its sizable installed hardware presence across various technologies. While Chinese companies may have more systems installed, Materialise produces a greater number of parts that have a generally higher value due to higher demand and its extensive expertise in AM. They primarily offer composite 3D printed parts using PBF technology, specifically SLS (EOS machines) and MJF (HP machines), as well as FDM parts produced using Stratasys machines. Although LFAM services are currently not available, Materialise remains the largest composite AM service provider in terms of revenues.

We close out the top 10 with two more material companies. At number nine we find Mitsubishi Chemical Performance Polymers (MCPP), the division of Mitsubishi Chemical Corporation that specializes in performance polymers. In 2018, MCPP acquired Dutch Filaments, a filament supplier based in the Netherlands. This acquisition allows MCPP to develop and market a wide range of composite filament materials, including engineering, high-temperature, and recycled filaments, as well as pellets for large-format AM. Their 3D printing range features raw materials sourced from LEHVOSS and DSM/Covestro.

Lastly, we find SABIC, a giant chemical manufacturing company. They are a leading producer of various plastic materials, such as polyolefins, polypropylene, and polyethylene. In recent years, SABIC has ventured into manufacturing 3D printing polymers, including high-performance ULTEM thermoplastic filaments. SABIC specializes in creating special compounds for large-format additive manufacturing through its THERMOCOMP AM product line. These materials are designed specifically for large-format, pellet-fed extrusion systems and are based on four of SABIC’s amorphous resins: ABS, PPE, PC, and PEI.

Other prominent and up-and-coming companies featured in the report include: 3D Systems, 3DXTECH, 9T Labs, Airtech, ALM, Anisoprint, APS, Arkema, Arris Composites, BASF, Belotti, Breton, CEAD, CMS, CRP, Caracol, Continuous Composites, Coriolis Composites, Demgy, Desktop Metal (ETEC & Desktop Health), Electroimpact, EOS, Evonik, Farsoon, Formlabs, HP, Hexcel, Ingersoll, Kimya, Lehmann&Voss, Markforged, Massivit, Mitsubishi MCPP, Nanovia, Polymaker, SABIC, Solvay, Stratasys, TreeD, Weber Additive, and Xenia Materials.

To learn more about the scope of this study and the methodology behind this research, please contact VoxelMatters’ CRO Francesco Pulimeni at francesco@voxelmatters.com. If you have acquired the previous edition, we have a special discount reserved for you.

Research
Composites AM 2024

746 composites AM companies individually surveyed and studied. Core composites AM market generated over $785 million in 2023. Market expected to grow to $7.8 billion by 2033 at 25.8% CAGR. This new...

Davide Sher

Since 2002, Davide has built up extensive experience as a technology journalist, market analyst and consultant for the additive manufacturing industry. Born in Milan, Italy, he spent 12 years in the United States, where he completed his studies at SUNY USB. As a journalist covering the tech and videogame industry for over 10 years, he began covering the AM industry in 2013, first as an international journalist and subsequently as a market analyst, focusing on the additive manufacturing industry and relative vertical markets. In 2016 he co-founded London-based VoxelMatters. Today the company publishes the leading news and insights websites VoxelMatters.com and Replicatore.it, as well as VoxelMatters Directory, the largest global directory of companies in the additive manufacturing industry.

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