3D Hubs publishes its Additive Manufacturing Trend Report 2021
April 26, 2021
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.