Analyzing the link between additive manufacturing and the stock market, we examine why the on-demand manufacturing and 3D printing industry has faced steep stock declines recently.

Today, we review the following companies: Xometry (XMTR), Proto Labs (PRLB), and Materialise (MTLS).

Stock Performance (2021–2023):

• Xometry (XMTR): $61 → $38 (-38%)
• Proto Labs (PRLB): $48 → $45 (-6%)
• Materialise (MTLS): $70 → $9.41 (-87%)

Business Models and Challenges

Xometry (XMTR) – The Marketplace

Model: Online platform connecting customers with manufacturers for CNC machining, 3D printing, and injection molding.

Challenge: Struggles with profitability and fluctuating market demand.

Proto Labs (PRLB) – The Direct Manufacturer

Model: In-house rapid prototyping and low-volume manufacturing using CNC machining and 3D printing.

Challenge: Stiff competition from low-cost manufacturers and rising production costs.

Materialise (MTLS) – The 3D Printing Innovator

Model: Hybrid approach with 3D printing software and industrial services for healthcare and aerospace.

Challenge: Faded hype and slower-than-expected real-world adoption.

The future will show which model works best and provides the foundation for future innovations.