The additive manufacturing industry has grown by 11.1% to an estimated valuation of $20.035 billion, exceeding the $20 billion mark for the first time in the industry’s history. Interestingly, this figure is significantly higher than that reported by fellow market intelligence firm AMPOWER, which touted a 3D printing market valuation of €10 million for 2023.
The 3D printing industry will witness an increased demand for end-use parts and the emergence of new applications. This is set to be driven by the increased speed of 3D printers, which will lower cost-per-part. Competitive pressures are also expected to translate to a reduction in material pricing, further lowering manufacturing costs.
