Printing the Past to The Future; Industrial 3D Printing Market Growth Review and Forecast (2018-2028)

Believe it or not? 3D printing is not new as you might think. The concept of 3D printing existed in 1945, and the practice has been since 1971. However, the first 3D print attempts were dated from 1981 by Dr. Kodama for developing a rapid prototyping technique. He was the first to describe a layer-by-layer approach to manufacturing. Apart from additive manufacturing, 3D printing has been ubiquitously utilized in industries such as construction, architecture, product design, medical devices, and prosthetics, just to name a few.

According to Statista, the global additive manufacturing market is expected to grow 17% annually through 2023 as the applications for the technology increase and metal additive becomes more and more viable. Moreover, the additive manufacturing products and services market is expected to almost triple between 2020 and 2026. Today, additive manufacturing is a mature technology. The consumer interest and robustness of industrial platforms grew throughout the 2010s. Some think additives will replace traditional CNC and milling manufacturing, as Lux Research reported that the 3D printing market value will reach USD 51 billion by 2030.

According to AMPOWER Report 2023, the industrial metal additive manufacturing market grew by more than 20% in 2022, narrowing the revenue gap with its polymer counterpart. However, the polymer AM market still generates more than twice the revenue. Looking ahead, the metal market is projected to grow at more than twice the rate of the polymer market until 2027. The metal AM market alone was valued at over USD 3.30 billion in 2022 and is expected to have a CAGR of almost 30% annually, starting at USD 7.14 billion in 2022.

Additive manufacturing is used widely in many industries, and the aerospace industry was the first to embrace 3D printing. In healthcare, medical devices and dentistry use 3D printing in items such as dental prostheses, inlays, and other implants. 3D printing creates a three-dimensional object by adding materials in layers to a computer-aided design (CAD) model. This 3D printing, also called additive manufacturing (AM), enables the production of custom parts with intricate geometries and minimal waste, thereby reducing the cost of high-value parts. It helps in quick design alterations with efficiency during the manufacturing process, which reduces the lead times. Technology also makes it possible to construct things that formerly needed assembly from several pieces into a single entity, improving their strength and longevity. The additive manufacturing and materials market is quite competitive. The major players with a significant market share are concentrating on developing generative design capabilities for 3D printing techniques. By adopting software capabilities optimized for additive manufacturing, companies want to increase their customer base across international markets and utilize strategic collaborative initiatives to increase their market share and profitability. 

Asia Pacific is expected to witness a significant growth rate. China has set targets to increase industrial competitiveness in its Made in China 2025 strategy. They will do this by investing in cutting-edge technologies, like 3D printing, and preparing the future workforce. A survey conducted by a 3D printing technology company, “Materialise,” among Chinese manufacturing companies stated 30%of companies agree that 3D printing will become more important than traditional manufacturing. Meanwhile, the 3D bio-printing technique was developed by the Pohang University of Science and Technology (POSTECH) in South Korea for realistic engineered organs. As per the research institute, more automatized and elaborate methods for generating organ substitutes would be possible if 3D printing is integrated with AI and robotic technologies. Rapid development is also found in Japan as JGC Holdings Corporation, a Japanese conglomerate, installed COBOD 3D printer in its construction work. Adopting COBOD technology will drastically reduce formwork construction time. The firm calculated that 3D printing might have cut this process from 16 to 8 days.

Furthermore, recent developments found that distributed manufacturing and additive manufacturing, AKA 3D printing, can be a powerful combination for solving supply chain challenges. Leading companies manage supply risks by distributing production geographically. For many use cases, additive manufacturing systems and processes are now technologically ready for small-series production. Applying 3D printing in distributed manufacturing will be most beneficial for producing high-value parts, such as those used in the aerospace and medical technology industries or low-volume replacement parts. These are among the transformative technology applications that constitute Industry 4.0.

               Companies have sought ways to avert the disruptions caused by delayed deliveries or avoid the higher costs of alternative transport or sourcing. A solution gaining traction is redesigning supply chains and production networks toward distributed manufacturing. According to BCG’s 3D Printing Helps Realize the Promise of Distributed Manufacturing, producers can distribute manufacturing in three ways to mitigate specific supply chain risks. Companies can apply these dimensions individually or in combination

               Producers can combine distributed and additive manufacturing to mitigate rising supply chain risks. The combined approach helps companies promote resilience, sustainability, and value creation. Success requires assessing how additive manufacturing can enable economically viable use cases across the three dimensions of distributed manufacturing. Given the persistence of supply chain challenges, all producers should consider their options for empowering distributed manufacturing with 3D printing.

Article by: Asst. Prof. Suwan Juntiwasarakij, Ph.D., Senior Editor