Plant Services: Report – Additive Manufacturing Industry to be Worth $15.8 Billion by 2020

| The Essentium Team

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Additive manufacturing (AM), commonly known as 3D printing, has seen tremendous adoption in the manufacturing sector where its ability to create custom-designed components or entire products in small batches is highly attractive for certain producers.

As a snapshot of the market’s forecasted growth, the 2019 Wohlers Report — viewed by experts as a top source for the pulse of the 3D printing industry — forecasts that the market value for 2020 is $15.8 billion for all 3D printing products and services worldwide. That figure is expected to surge to $23.9 billion in 2022 and $35.6 billion in 2024. Likewise, a January forecast from Statista shows that global spending on 3D printing in 2019 is projected to be $13.8 billion, up 21.2% from a year earlier.

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