3D printing industry - worldwide market size 2020-2024

The worldwide market for 3D printing products and services is anticipated to exceed 40 billion U.S. dollars by 2024. The industry is expected to grow at a compound annual growth rate of 26.4 percent between 2020 and 2024. General Electric has the most 3D printing patents in the United States.

Fast growing 3DP material

3D printing is able to utilize many materials for a wide range of applications. New materials and applications continue to be developed on a rapid basis. These new applications are likely to enter a wide range of industries. Among the fastest growing services for a specific material type are metals and metal alloys. The size of the metals and metal alloys 3D printing services market in 2017 only stood at around 266 million U.S. dollars worldwide. Metal 3D printing technology is relatively young but many major breakthroughs take place every year. Printing metals are generally more expensive, such as copper, for example; metals use heavier and more precious materials. This application is generally a slower process and the machinery itself is more expensive. As more businesses begin to have their own printers, printing software will grow faster than printing services.