What Can We Expect From the Additive Manufacturing Market Over the Next 5 Years?

Research and Markets began 2023 with the release of a study on the global additive manufacturing market. The firm estimates the industry will be worth $44.03 billion by 2027, up from $16.83 billion this year, representing an annual growth rate of 21% between 2021 and 2027. There’s no denying that the industry is growing and can achieve even higher results, especially if you look at the general manufacturing market as such – 3D printing really has a role to play. The report focuses on the drivers of growth, highlighting the increasingly important role of governments and public authorities. Notably looking at how they can drive technology adoption through dedicated subsidies and actions. It also highlights the trend towards miniaturization, discussing micro-printing.

The growth of the additive manufacturing market has been evident for some time, and we are convinced that the coming years will bring many surprises. However, it is not always clear what is driving the industry: machines, materials, applications, software? Which vertical is the most promising? The Research and Markets report gives some clues, analyzing the most sought-after type of 3D printers, the most popular materials, the applications, the components and finally the regions. In Europe, for example, Italy is expected to be the main growth driver over the next five years.

The growth of the additive manufacturing market (photo credits: Research and Markets)

Growth Drivers of the Additive Manufacturing Market

According to the Research and Markets study, the additive manufacturing market can be expected to reach more than $44 billion by 2027. This growth could be driven by an increase in the need for personalized medicine, where 3D technologies can be used to design custom tools and devices for patients; a strong resurgence of activity in the aerospace industry, compared to the disruptions caused by COVID-19; and last but not least, a strong (and increasing!) demand for lighter parts from the automotive sector. Here, the use of composite 3D printing could be particularly interesting. These three verticals are certainly not the only ones generating revenue for the market, but they remain the most important ones-to watch closely, consumer goods and electronics.