Wohlers Associates, the Colorado-based additive manufacturing consultancy agency working beneath ASTM Worldwide, has launched its Wohlers Report 2024.
The annual report highlights the important thing 3D printing developments and forecasts and has now reached its twenty ninth consecutive yr of publishing.
This yr’s version outlines that the additive manufacturing trade has grown by 11.1% to an estimated valuation of $20.035 billion, exceeding the $20 billion mark for the primary time within the trade’s historical past. Curiously, this determine is considerably greater than that reported by fellow market intelligence agency AMPOWER, which touted a 3D printing market valuation of €10 million for 2023.
Terry Wohlers, head of Advisory Providers and Market Intelligence at ASTM Worldwide and the report’s principal writer, instructed 3D Printing Trade that the true additive manufacturing market dimension is definitely “a lot bigger than what we report.”
In keeping with Wohlers, the worldwide market estimate excludes capital spent on additive manufacturing inside organizations, equivalent to Adidas, NASA, and Stryker. The worth of analysis, improvement, prototyping and tooling inside these firms can be omitted, together with that of components 3D printed by unique tools producers.
“The worth they’re producing with AM provides as much as a big quantity, however it’s unimaginable to quantify,” defined Wohlers.
Moreover, shipments of steel 3D printers reportedly grew by 24.4% in 2023. Having tracked this specific market phase for the previous 21 years, Wohlers Associates estimates that 3,793 steel 3D printers had been bought in 2023, up from 3,049 in 2022.
Seeking to the long run, Wohlers expects a shift in 3D printing to high-volume manufacturing of end-use components. Pushed by enhancements to 3D printers and post-processing, the report predicts that manufacturing will transfer from 1000’s of components to tons of of 1000’s, with million-part manufacturing runs anticipated for small parts.
2024 Wohlers Report highlights the present state of 3D printing
The 2024 Wohlers report was produced utilizing info and information offered by 245 3D printing organizations, together with service suppliers, contract producers, system producers, and materials producers. Over 110 individuals, together with 100 3D printing consultants from 35 international locations, contributed to the report.
In keeping with Wohlers, the agency’s refined methodology permits it to face out inside the additive manufacturing market intelligence house. “We’ve got developed and refined a technique over the 29 years of manufacturing the report. The historical past of AM development is effectively documented in our experiences,” acknowledged Wohlers. “No different firm has this historical past or basis upon which we constructed this know-how over time.”
The 2024 report predicts that the 3D printing trade will witness an elevated demand for end-use components and the emergence of latest functions. That is set to be pushed by the elevated velocity of 3D printers, which can decrease cost-per-part. Aggressive pressures are additionally anticipated to translate to a discount in materials pricing, additional reducing manufacturing prices.
Moreover, the affect of latest supplies and their qualification can have a big affect on the aerospace, protection, healthcare, and power sectors. It’s famous that the certification of latest designs, and the event of trade requirements, will drive additional development inside the international 3D printing market.
AM developments and the way forward for 3D printing
The 2024 Wohlers report will not be the one useful resource providing key insights on the present and future state of 3D printing developments. Earlier this yr, 3D printing consultants shared their insights on 3D printing developments and the way forward for 3D printing as a part of the 2024 3D Printing Trade Government Survey.
The important thing trade developments that had been highlighted included elevated adoption of 3D printing all through varied sectors and new markets, the rising function of additive manufacturing to beat provide chain challenges, and rising use for the manufacturing of client items.
Moreover, most of these surveyed provided a optimistic 3D printing financial outlook for 2024. Notably, 62% of respondents held a optimistic view of exterior circumstances, whereas 68% shared a perception that inner enterprise circumstances are favorable or very favorable.
Elsewhere, a report from market intelligence agency CONTEXT highlighted the stagnation of business 3D printer shipments within the second half of 2023. In keeping with the report, Q3 2023 noticed international shipments of business polymer 3D printers fall by 17% YoY, whereas steel 3D printer shipments declined by 3%.
These falling cargo figures replicate a shifting focus away from market development in the direction of profitability, amid failed merger and acquisition exercise from the likes of Stratasys, 3D Techniques, Desktop Metallic, and Nano Dimension, and elevated layoffs.
Alternatively, entry-level 3D printers proceed to be the fastest-growing phase inside the 3D printing trade, cannibalizing the gross sales of extra skilled methods. Furthermore, primarily based on rolling five-year international delivery charges, there are presently 8.1 million FDM 3D printers in the marketplace.
What does the way forward for 3D printing maintain?
What near-term 3D printing developments have been highlighted by trade consultants?
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Featured picture exhibits Wohlers Report 2024 information which highlights rising steel 3D printer gross sales. Picture by way of Wohlers Associates.
