Market growth, ecosystem maturation andtechnological innovations in 3D printing Key Findings The annual growth rate of the 3D printing market exceedsexpectations, indicating a confident market and the continuedmaturation of the 3D printing industry. 57.1bn We predict the 3D printingmarket will grow to reach$57.1 billion by the end of 2028 70% of surveyed businesses printedmore parts in 2023 than in 2022 82% of respondents said 3D printinghelped them save substantial costs 21% primarily used 3D printing forend-use parts in 2023, up from20% in 2022 said lead time was the main reasonwhy they opted for 3D printing overother manufacturing methods –up from 44% in 2023. 77% think 3D printing will have themost significant impact on themedical industry Table of Contents 3D Printing Market Growth5 10 Things to Look out for in 2024 and Beyond8 Trends by industryTrends by region911 The Big AI Promise12 From Prototyping to Production14 The Emergence of Specialized Materials16 Starting Small, Going Big18 Further Reading21 References23 Introduction 3D printing has evolved to occupy an established place in manufacturing today. As it hasbecome a more widely applied industrial manufacturing process, the industry is comingof age. A large network of specialized companies providing support and solutions for arange of production processes has emerged. From design software through automatedproduction solutions to enhanced post-processing methods, this budding ecosystemsignals that production-level 3D printing is used by ever-growing numbers of businesses.The wider availability of specialized solutions in turn increases the uptake of production-level 3D printing. This trend also extends to different types of printers and materials—and businesses thatare geared to highly specific applications, issues, and fields are often most likely to prevailin the wider industry. The applications of 3D printing are growing not just in type, but in scale, too, with bothmicro printing and large-format applications continuing to evolve. There continues to besignificant investment in additive manufacturing solutions and materials, particularly in themedical and aerospace sectors. Innovative, often highly specialized, materials are comingto the market, expanding the potential applications of the technology. Software andhardware are evolving at pace, too, with new developments partly fueled by AI. This report will investigate the state of the market in 2023, while also exploring the trendsshaping the industry in 2024 and beyond. 3D Printing Market Growth This graph summarizes data reported by leading market analyst firms that evaluated the3D printing market in 2023, including revenue from 3D printing systems, software, materials,and services, but excluding internal corporate investments in 3D printing technologies.It was collated based on publicly available information and it provides the best estimateof the current size and future potential of the global 3D printing market. The 2023 market size was estimated at $22.14 billion on average, representing a 26.8%increase on 2022’s $17.46 billion. This is far exceeding expectations. It is 10% higher than wepredicted in last year’s report, which forecast the 2023 market size of $19.9 billion ata compound annual growth rate (CAGR) of 17%. If we apply last year’s CAGR (26.8%) to 2024, the market size would grow to $28 billion.Taking market fluctuations into account, we’re using a more conservative growth rate basedon averages across the past five years. This arrives at a CAGR of 21% and a market size of$24.8 billion by the end of 2024 and $57.1 billion by the end of 2028. This increased market growth rate is reflected in the responses to the 2024 edition of ourannual survey of more than 700 engineers, designers, manufacturers, and other membersof our global engineering community. Of the survey respondents, 70% printed more parts in2023 than in 2022. Only 21% printed the same amount of parts as they had printed in 2022,and just 9% printed fewer parts than in the previous year. Production run volumes have remained stable in the past year. While in previous years, thenumber of respondents saying they printed more than 10 parts rose from 36% for 2020, to49% for 2021, and to 76% in 2022, this figure stayed at 76% for 2023, marking a stabilization.However, there was one shift: the percentage of respondents saying they printed more than1,000 parts rose from 4.7% to 6.2% compared to the previous year. This may signify a furtherincrease of the usage for 3D printing technology for the production of end-use parts oraesthetic parts rather than prototyping. Indeed, there was a slight increase in respondentssaying they primarily used 3D printing for end-use parts in 2023, up to 21% from 20% in 2022. 1-10 parts11-50 parts51-100 parts101-1000 parts1001+ parts The speed and agility of 3D printing continues to be an attractive aspect of the technology.Almost half (47%) of respondents said le