Our CEO took a step back to examine the definitive facts of additive manufacturing (AM) in 2024 :).

Industry growth: The core additive manufacturing (AM) market grew by 19% year-over-year in 2024 to $12.3B, and almost half of that revenue was from SMEs—a reminder of their fundamental importance, even if they were not receiving significant media attention at the time.

Market dynamics: Sensational news stories often seize attention, but the real story of the sector is steady long-term growth. The market is estimated to grow almost 9× by 2034 and will exceed $108B per year.

2024 segments:

Hardware: $5.5B (+19.7% YoY), representing 45% of the market share. Unit sales increased to 1.44M (+26%), with both low-cost polymer extrusion systems and advanced metal systems driving the growth.

Materials: $2.4B (+18.2% YoY), accounting for 20% of the market. Metal materials led the growth at +25.4%, as demand came from the aerospace, defense, and medical verticals.

Services: $4.3B (+17.6% YoY), delivering a total of 72M parts (+17%). Polymers led the part volume, while metals held the greater revenue proportional share.

Long-term outlook: Outsourced AM part production could reach 460M parts per year by 2034, with metals overtaking polymers in terms of revenue.