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 176-page issue includes articles and reports on:

  • Metal AM in automotive: How the Czinger 21C is redefining next-generation car manufacturing
  • Buying time with digital spare parts: Opportunities for metal Additive Manufacturing
  • Burloak and the AM scalability challenge: A contract manufacturer’s perspective on the shift to volume production
  • Binder Jetting and beyond: Insights from Fraunhofer IFAM’s second workshop on sinter-based Additive Manufacturing
  • The inestimable value of AI: How Machine Learning can help AM project teams achieve their goals and beyond
  • The need for global standardisation: Takeaways from the Standards Forum at Formnext 2021
  • Laser Beam Powder Bed Fusion: Process developments and numerical simulation
  • > More information

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