The global additive manufacturing (AM) market reached $15.9 billion in calendar year 2024, according to “Q4 2024 3DP/AM Market Data and Forecast” from Additive Manufacturing Research (AM Research).Despite a challenging economic environment and soft performance in the first three quarters, the year closed with a strong fourth quarter, potentially signaling the early stages of a broader recovery.AM Research’s quarterly tracking includes comprehensive data across metal, polymer, and ceramic 3D printing technologies, encompassing hardware, materials, and services.
The Q4 2024 total market reached $3.68 billion, up from $3.49 billion in Q3, reflecting sequential growth of nearly 5.5%.Metal AM brought in $5.58 billion for the year, with $1.45 billion generated in Q4 alone.Polymer AM remained the largest hardware and materials category, with $7.80 billion in annual revenue, $2.0 billion of which came in the final quarter.
While both markets showed quarterly gains, they did not fully compensate for earlier slowdowns, which were attributed to deferred capital expenditures and persistent economic uncertainty.Notably, for the first time, AM materials revenue surpassed hardware revenue.This shift is seen as a sign of a maturing market, where production-oriented applications are beginning to take precedence over prototyping and R&D.
However, growth in materials was tempered by reduced hardware installs and pricing pressures on consumables, especially in the metals segment.The AM services segment accounted for $7.44 billion in 2024, with $3.68 billion coming in Q4 alone.This area continues to provide a stabilizing presence in the market, though AM Research noted a shift toward specialization, with some generalist service bureaus under pressure from more focused competitors.
The evolution of service models could be a key factor in how the industry scales production over the next decade.Scott Dunham, Executive Vice President at AM Research, said “2024 was a challenging but healthy year for the additive manufacturing industry.Companies in this space have proven that they’re willing to rise to the challenge again and again, and we’re now seeing adaptations in the landscape play out that will be necessary to keep the industry on its long-term growth trajectory, including finding ways to bring the cost of AM production systems down without sacrificing on customers’ requirements.
We’re seeing what we think are the beginnings of a growth turnaround coming out of 2024 but suggest caution in putting too much emphasis on one quarter’s performance.We expect 2025 to be, overall, more positive for all segments of the industry.” According to AM Research’s long-term forecast, the AM market is projected to grow to $57.8 billion by 2033.The report suggests that while short-term fluctuations are inevitable, the broader trend remains one of steady expansion, supported by technological improvements, increased production adoption, and evolving business models.
The “Q4 2024 3DP/AM Market Data and Forecast” are available through AM Research’s quarterly and annual reports, which include historical data, segmented forecasts, and insights by vendor, region, and application.Companies covered in the latest report include a cross-section of industry leaders and emerging players such as EOS, Nikon SLM Solutions, HP, Carbon, Trumpf, Formlabs, and others.The full “Q4 2024 3DP/AM Market Insights” report is now available through AM Research’s website.
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