AM market forecast to reach $51 billion by 2030

April 8, 2021

Lux Research, Boston, Massachusetts, USA, a provider of tech-enabled research and innovation advisory services, has released a new report, ‘Will 3D Printing Replace Conventional Manufacturing?’, which anticipates the Additive Manufacturing market reaching $51 billion within a decade.

The report also breaks down the industry’s market size and growth by application and material, providing an outlook on what impact AM will have on the future of manufacturing, and how strategies and business models will evolve with it.

The value of additively manufactured parts is reported to rise at a 15% compound annual growth rate (CAGR) from $12 billion in 2020 to $51 billion in 2030. “The largest share of this growth will be in end-use parts, which are just 23% of the market today, but will reach 38% share in 2030,” stated Anthony Schiavo, Research Director and one of the report’s lead authors. “The medical and dental industries will account for the largest share of end-use parts, reaching $4.5 billion in 2030, followed by aerospace at $3.9 billion.”

“3D printing will be a key in the future manufacturing landscape thanks to benefits that it can bring over injection moulding, machining, casting, or other conventional methods,” added Schiavo. “These benefits include customisation and personalisation, the ability to create complex geometries, part consolidation, and, in some, cases lowering costs.”

As Additive Manufacturing matures, strategies will shift. Vertical integration is critical now, but horizontal specialists can capture more profits in the future. Due to the relative immaturity of AM as a technology, complete well-integrated ecosystems are needed to help make it competitive.

An executive summary is available for free through the company’s website.

www.luxresearchinc.com

Download the latest issue of Metal AM magazine

Our latest issue is now available to view online or download in PDF format.

As well as an extensive AM industry news section, this 204-page issue includes articles and reports on:

  • Optimised thermal management in semiconductor fabrication using AI-enabled generative design and Additive Manufacturing
  • Forging a process for mass customisation via metal Additive Manufacturing
  • Bringing it all together: How Materialise is integrating manufacturing and software expertise to shape AM’s future
  • Pedal to the metal at the Digital Manufacturing Centre: Redefining what’s possible for AM in hypercars and beyond
  • The future is Additive Manufacturing – if we take a more holistic view of the design opportunities
  • Building a case for radical collaboration plus quality standards: The pathway to growing the AM industry
  • Distributed manufacturing: Old concept, new relevance, new technology?
  • Design for Additive Manufacturing: A workflow for a metal AM heat exchanger using nTopology (BJT)
  • Taking the holistic view:
    Defining the state-of-the-art in the evolving PBF-LB machine marketplace
  • > More information

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