The additive manufacturing market grew by 21% in 2020 to a total of $12.6 billion, and is expected to continue to grow by 17% annually over the next three years, according to a 3D Hubs report.
The report found further evidence of market growth on an organizational level, with 65% of engineering businesses increasing their 3D printing usage in 2020 compared to the previous year.
From 3D Hubs:
- The additive manufacturing market is forecasted to more than double in size over the next five years, reaching a value of $37.2 billion in 2026.
- Limited accessibility to traditional manufacturing technologies accelerated additive manufacturing adoption in 2020 with 65% of engineering businesses increasing their usage of 3D printing compared to the previous year.
- 38% of engineering businesses report price and 29% report part quality as the key factors preventing from utilizing 3D printing.