The Additive Manufacturing Trend Report 2021, published by 3D Hubs, Amsterdam, The Netherlands, has reported that the Additive Manufacturing market grew by 21% in 2020, reaching a total of $12.6 billion, and is expected to continue to grow by 17% annually over the next three years. The report includes insights from a survey conducted in February 2021 with 1,504 engineering businesses, as well as a systematic review of industry news and market analyst reports.
The report found further evidence of market growth, with 65% of engineering businesses increasing their AM usage in 2020 compared to the previous year. This growth is anticipated to continue into 2021, with the majority of engineering businesses (73%) predicting an increase in their AM usage this year.
Key findings of the Additive Manufacturing Trend Report 2021 include:
- The AM market is forecasted to more than double in size over the next five years, reaching a value of $37.2 billion in 2026
- Limited accessibility to traditional manufacturing technologies accelerated AM adoption in 2020, with 65% of engineering businesses increasing their usage of AM compared to the previous year
- The application of AM for functional end-use parts is rapidly progressing: 54% of engineering businesses increased their usage of AM for functional end-use parts in 2020 and 30% of engineering businesses maintained their usage of AM for functional end-use parts this year, illustrating hat AM should no longer be seen just as a rapid prototyping technology
- Barriers still remain that hold AM adoption back: 38% of engineering businesses report price and 29% report part quality as the key factors that prevent them from utilising AM more.
- This optimism for AM growth is not restricted to 2020; in 2021, 73% of engineering businesses predict they will produce or source more additively manufactured parts compared to 2020
The full report is available through the company’s site.