3D Printing Markets Reach $14.7 Billion in 2023

The additive manufacturing (AM) market reached $14.7 billion in 2023 after a challenging year for manufacturers, according to Additive Manufacturing Research (AM Research).  According to the report, the growth rate for all 3D printing hardware, materials, software and services is estimated to be 13.5% for 2023 compared to 2022. 

The AM metals segment outpaced polymers with nearly 15% growth compared to just over 10% for polymers. The AM services market totaled $6.7 billion, growth nearly in line with the total AM industry, according to the report. AM hardware revenues in the fourth quarter grew less than 1% as compared to the same quarter in 2022, largely reflected publicly in many earnings reports, while annual hardware revenues across both metals and polymers grew just under 6% in 2023 versus 2022.

With this Q4 2023 reporting, AM Research is debuting a quarterly “3DP/AM Market Insights” product. 

Scott Dunham, EVP, AM Research, said, “An abnormal, up-and-down year for the AM market ended about the same as it began – with shifting trends in system purchasing making a lot of headlines and depressing revenue growth. Still there exists a real appetite for AM technology that is likely to break loose in the near term, driven by a combination of government spending and maturity in key markets. We expect a return to normal historical growth levels this year. Longer term, AM is still the technology to watch for manufacturing evolution.”

Sources: Press materials received from the company and additional information gleaned from the company’s website.