The Industrial 3D Printing Market is Expected to Reach $107.7B By 2031

There is no doubt that the additive manufacturing sector is booming. According to the recent study released by Allied Market Research, the industrial 3D printing market is expected to reach a value of $107.7 billion by 2031, representing a Compound Annual Growth Rate (CAGR) of 21.9%. This is due to two main reasons: the demand for customized products to gain a competitive advantage and the rapid adoption of 3D printing materials. The report presents a detailed study of several key aspects, such as the regional landscape, trends, industry segments, value chain and competitive landscape.

As already reflected earlier this year in the Wohlers Report 2022, the additive manufacturing industry is experiencing strong growth. In addition to this increase, the negative impact that the pandemic has had on the market is also mentioned. In the past two years, the health crisis affected major industry players, who witnessed a major slowdown due to a shortage of skilled labor for the development of 3D printing solutions. Still, it is clear that the industry is recovering and is expected to reach its highest market value by 2031. Furthermore, the analysis offers additive manufacturing companies, investors and users a way to gain insight into the sub-segments that should be leveraged to join that growth in the years to come.

Industrial additive manufacturing end-users (photo credits: Allied Market Research)

Trends in Industrial 3D Printing

As shown in the graph above, the report analyzes the additive manufacturing market according to the type of user that adopts it as a production method. This technology offers the possibility of creating affordable, complex and lighter components than with other traditional methods. Thus, we see that the industrial sector is clearly the most prominent, whether for the creation of prototypes, tooling or final parts. Even so, it is worth noting that the aerospace and defense sector is in second position, and is expected to continue to grow in the coming years. In terms of regions, North America was expected to account for the largest share in 2021, contributing almost half of the total market share. However, Latin America, Middle East and Africa (LAMEA) countries are expected to register a CAGR of 24.1% during the forecast period.