After extensive data gathering and analysis during Q4 2020 and Q1 2021, the 3dpbm Research team has published its latest major market study. The new report, 3dpbm’s second following Composites AM at the end of 2020, focuses on the metal AM market, providing valuable figures and outlooks based on our audits of every single relevant company active in the core metal AM market. For this metal AM market study, the core metal AM market is defined as hardware manufacturers, materials suppliers and AM service providers. One of the key findings in the report is that the core metal AM sector generated $1.6 billion in revenues in 2020 and is realistically set to grow to $31.78 billion by 2030, with a 35% overall CAGR for the 10-year period.
The exhaustive approach in this report was enabled by 3dpbm’s Index, the largest (and freely accessible) database of AM companies. It’s an unparalleled asset that we have been building for nearly a decade, which lets us track over 5,700 verified companies across the additive manufacturing industry. Of these, over 400 are involved with metal AM and 296 are identified as being active in the core metal AM market.
3dpbm’s unique position in the AM space—including the Index—is also bolstered by 3D Printing Media Network, one of the largest online AM industry news portals in the world. Our editors report on the day-to-day of the AM industry as well as big picture topics. We are a trusted news source within the industry and have a clear understanding of the latest developments and trends. This informs the accuracy of the report, which draws on our in-depth and up-to-date industry knowledge.
By leveraging our vast network of AM industry contacts, we collected an enormous amount of information on the metal AM sector, which was supported by insights from a survey sent to all 296 core metal AM market operators. This information and data provided the basis for us to establish the value for yearly unit sales, install base, yearly revenues for every metal 3D printer available on the market, every metal material product and every type of metal part printed in 2020.
This data was broken down and reassembled by professional market analysis and business intelligence team, resulting in a database made up of over 15,000 data points. These serve as the base for our 2020 market analysis. We have also further developed our proprietary algorithm to build a forecast model for metal AM hardware, materials and services demand and revenues. This model takes into consideration dozens of variables (from inflation to increases in machine productivity, to COVID-19 effects, to expected demand from vertical adoption segments) in order to present the most accurate view of the market through its next decade of growth.
What are some highlights that emerge from this study?
- The overall total addressable market (TAM) for metal AM in global industrial manufacturing is expected to amount to $5.4 trillion, with metal AM expected to grow to represent 1.05% of this, for a total of $56 billion. 3dpbm Research estimates, today, the market for metal AM applications to generate $3.1 billion yearly.
- Metal AM has been growing significantly for nearly a decade and is likely to continue its rapid growth for the foreseeable future. Any recently recorded slow-down in adoption only concerns specific technologies.
- Metal binder jetting, along with a new generation of technologies which we collectively refer to as bound metal AM processes, is ushering in a new era of faster and more affordable production.
- As WAAM and other wire-based technologies such as EBAM gain wider adoption, the availability of wire that can be used in metal AM processes is emerging as both an advantage for AM adopters and a growing revenue opportunity for metal manufacturers.
- The metal AM materials segment is currently experiencing a period of vibrant growth. Several large new operators have entered the AM market, while established operators continue to introduce new material products that better address the needs of AM adopters across a growing number of industrial segments and applications.
- Metal AM service providers have a key role to play in the evolution of metal AM from the niche prototyping and small-batch production technology it is today to the digital serial production and, eventually, mass production technology it will become.
- By cross-referencing the revenue data with volume and part size data, we can provide an analysis of the size of metal parts that are consuming the most material volume and generating the highest revenues. Parts weighing 0 to 3 kg represent almost the entirety of revenues.
We are extremely proud of our Metal AM report and more broadly of our ongoing report series. The addition of reports to our AM media ecosystem is a natural evolution for our company, as it continues to grow alongside the AM market and to develop new ways to tell the AM story.