The second calendar quarter of 2022 saw continuing year-over-year growth for the additive manufacturing market, coming in 27% higher compared to the same period in 2021. However, the streak of six consecutive quarters of sequential growth ended due to the effects of inflation and global supply chain disruptions, which also led some firms to reduce annual guidance. Still others in the AM space reaffirmed their expectations, highlighting additive’s value in innovating manufacturing during periods of extended supply turmoil.

SmarTech’s data finds that the Metal 3D printing market continues to grow at a faster rate than its Polymer market counterpart, and metals now account for 40% of the AM market. Totals are defined as the market for AM machines, materials, and print services.

Scott Dunham, SmarTech Analysis EVP Research, commented, “Although the quarter still was a huge success for the additive industry, the overall economic condition has caught up to the industry after an excellent run of growth throughout the pandemic and into the post-pandemic age of supply chain turmoil. AM firms as a group are still amongst the best positioned during this time even if growth did finally slow down sequentially. We still expect 2022 to be a record-breaking year for the industry as we go into the second half of the year. The outlook beyond 2022 is also quite positive as aerospace returns stronger and new opportunities in consumer goods and energy pick up steam.”

From the Report:

Metal additive market was strong in Q2 2022, though sequentially key segments such as hardware declined for the first time in several quarters due to challenges created by supply chain, and lengthening sales cycles due to recession fears.

Metal powder demand is ramping significantly as more users, especially in aerospace, ramp to production. Sequential growth in powder sales accelerated in Q2, though prices also rose.

Polymer AM markets continue to represent a larger market than their metal counterpart, and notably AM materials now generate more than $500M globally per quarter.

Persistent supply-chain pain is incenting global manufacturing players to get serious about AM. Semi-mature technologies such as metal powder bed fusion are ready to meet a certain degree of that demand, and there appears to be no slowdown in development of novel additive metal print processes to address underserved markets and applications.

Companies covered in this report include but are not limited to: 3D Systems, HP, EOS, Farsoon, Prodways, Velo3D, SLM Solutions, Optomec, Trumpf, Markforged, Desktop Metal, GE Additive and ExOne.

SmarTech
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