3D Printing Landscape: A Decoded Guide
Hubs Trend Report 2023 Summary
Published: Tuesday, June 11, 2023 at 12:00
(Hubs: Amsterdam) — Hubs, a leading online manufacturing platform, has published its newest 3D Printing Trend Report. The report is based upon insights from over a thousand customers and manufacturing partners as well as a thorough review of the news and media. It also includes findings from leading market analyst firms.
Growth and Predictions of the 3D Printing Market
The report highlights the increasing adoption of 3D printing for large-scale orders, marking its evolution from a hobbyist’s tool to a robust industrial solution. The February 2023 survey with 1,035 participants highlights the market’s growth. 71% of respondents said they had 3D printed more components in 2022 than 2021. The surge in 3D printing use is evident in the industry’s market size, which soared to $17.05 billion in 2022 at an annual growth rate of 13%. This growth is attributed to the fact that 83% of companies have reported significant cost reductions by using 3D printing.
The upward trend is expected to continue into 2023. Based on Hubs’ internal data and CAGR forecasts from 10 leading market analysis firms, the 3D printing market is projected to grow by 17%, reaching $19.9 billion by 2023. The revenue generated by the polymer AM market was more than double that of its metal counterpart. Metal additive manufacturing grew faster than polymer by 2022, and it is expected to grow at a faster rate.
In 2022, revenue from printer hardware increased despite a global shipment decline of 4% during the same time period. The increase in revenue is probably due to inflation, as well as rising machine costs. Shipments of personal 3D printing systems have been the most affected, with a slight 2% decrease. Shipments of industrial metal systems increased slightly in 2022.
3D printing’s effect on key industries
Report highlights 3D printing’s primary applications, with prototyping at the top (66%). The report highlights the primary applications of 3D printing, with prototyping leading at 66%.
Early adopters of additive manufacturing in the aerospace industry continue to be key players in 3D printing. The technology’s ability to create lightweight components that enhance aircraft fuel efficiency is particularly appealing to the industry. Medical industry can also benefit from additive manufacturing’s high degree of flexibility. Presently, additive manufacturing is used for the production of patient specific implants, prosthetics and surgical instruments, as well anatomical models and dental products. The report explores other industries that are poised to transform, such as food, fashion and motorsports, bioprinting and space.
Future of 3D Printing
This report explores the effects of AI and smart material (4D printing) in additive manufacturing. The report offers expert insights on how AI and smart materials (4D printers) will influence the future of additive manufacture. AI-enabled technologies, like in-print monitoring (in-print monitoring), can greatly improve consistency and control of quality. AI-enabled tools can streamline the generative design process and make 3D printing easier. Smart materials could be the game changer for healthcare applications such as targeted drug delivery. Smart materials are being explored by other industries such as aerospace and furniture. They also include packaging and wearables.
Green by Design: Sustainable manufacturing and additive manufacturing
The report highlights the fact that 3D printing is a manufacturing method with a lower environmental impact. It produces less waste than traditional manufacturing methods. It also allows local production to be done, reducing the ecological impact of long-distance transportation. The use of recycled materials has increased as filaments from recycled sources are becoming commercially available.
The future is shaping up
Currently, more than 20 percent of survey participants use 3D printing to produce parts for final-use. Hubs believes that 3D-printing will continue to grow in popularity as technology improves. 3D-printing is an evolving technology. New layers of this agile tech will shape our world, and the way that we interact with it.
You can download the entire report for more details.