Additive Manufacturing Research (AM Research) has published its 3D printing market data for the first quarter of 2024 and a written analysis.
The first quarter of the year showed some positive signs in certain areas of the AM industry. However, the positive momentum continues to be held back by delays in the sale of new AM systems. Growth in the value of 3D printing materials sold in the first quarter of 2024 was very solid year-on-year, continuing to suggest that demand for AM remains healthy in many areas. The market for 3D printing services also grew, thanks in part to a better first quarter in the dental market compared to the first quarter of 2023.
AM Research’s quarterly 3DP/AM market data product represents the most comprehensive and accurate data globally, tracking markets by individual vendor, printing technology, geographic region and application (industry).
AM Research has also published its “3DP/AM Market Insights: Q1 2024,” a written analysis combined with proprietary charts and graphs that provides color and context to AM Research’s traditional Core Metal and Core Polymer market data products.
Scott Dunham, EVP, AM Research, commented, “Stakeholders in the AM world have learned that it’s very difficult to cater to every possible use case for additive and still be successful, but that means in the current climate and maturity of AM adoption, there are winners and losers each period as certain segments perform strongly and others do not. Many companies are showing better backlogs and orders for the rest of the year, but we should be cautious about anticipating a major rebound the rest of the year.”
Companies included in AMR’s Core Metals and Core Polymers tracking data and 3DP/AM Market Insights report include: 3D Systems, Stratasys, Markforged, Desktop Metal, Velo3D, Nikon SLM Solutions, EOS, GE Additive, Trumpf, Farsoon, BLT, HBD, Eplus, Optomec, BeAM, HP, Formlabs, Prodways, DWS and Carbon.
The consolidation of printing services, including the acquisition of Fathom by CORE Industrial Partners, highlights the need for a rather rare combination of providers that have both specific additive manufacturing expertise and resources that span multiple manufacturing capabilities and markets. Excluding dental laboratories and biomedical companies, the market for printing services for industrial and consumer goods is expected to exceed $5 billion in global revenue for the first time in 2024.
Defense initiatives will continue to translate into real opportunities for the 3DP/AM industry in the first quarter and beyond. Two significant announcements from Bechtel Plant Machinery Inc (BPMI) illustrate this trend in action.
In the first quarter of 2024, the market for metal powder bed fusion shrank year-on-year for only the second time in the last ten years. However, the result was again not one-size-fits-all, as suppliers such as Trumpf, Renishaw, 3D Systems and Nikon SLM Solutions all saw significant sales successes.
The dental market is the most influential market for polymer AM technologies and the most mature, but there is still an immense amount of opportunity to be exploited in the dental market through 3D printing. Align’s acquisition of Cubicure speaks to efforts to print new classes of dental devices directly from materials that are robust enough to serve new applications, such as palate expanders and directly printed clear orthodontic aligners.
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