Global additive manufacturing market 2019 worth over $10 billion
Continued growth expected through 2029, confirming previous forecasts
For the fourth year in a row, SmarTech Analysis has produced its annual additive manufacturing market summary report, detailing the current state of the AM business. Featuring insights gathered from the firm’s ongoing quarterly advisory services and ongoing comprehensive full value chain market analysis, the report sees the global additive manufacturing market 2019 growing to over $10.4B, crossing the pivotal double-digit billion thresholds for the first time in its nearly 40 year history.
The analysis within the 2020 Additive Manufacturing Market Outlook and Summary of Opportunities report focuses on providing segmented market data and insights. The market is split into the primary AM-industry specific segments: hardware, materials, software and services. These are calculated for the metals, polymer, and ceramic additive manufacturing areas, while highlighting the most influential activities across key AM markets including aerospace, healthcare, automotive, service bureaus, and emerging opportunities like consumer goods, energy, and industrial.
SmarTech goes on to forecast the AM market to grow into an almost $55 billion yearly business. This amount does not include the value associated with AM applications (prototypes, tools and final parts), other than those associated with AM Services. Application value is generally not included in AM industry-specific reports since they are considered to be part of the specific vertical rather than the horizontal AM industry. However, the general consensus is that the value of AM applications greatly exceeds the value of AM-industry specific segments.
Considering this factor, a $55 billion AM market by 2029, as forecasted in SmarTech’s report, is in line with the goal of AM representing 2% of the $12 trillion global manufacturing industry by 2030, which was originally hypothesized during the first part of the past decade. According to SmarTech, this result would require another significant inflection point by 2025, with the AM market tripling in value during the next 5 years. The remainder of the forecast period is going to see the market reach $53.8 billion (by 2029). If we consider the value of AM applications to be worth at least double that amount (thus driving the $53.8 billion investments in AM-specific market segments), and continued growth after 2029, the total will take us very close to $200 billion by 2030.