Report uncovers annual growth of 34.9 percent for 3-D printing, additive manufacturing
The market for 3-D printing, consisting of all products and services worldwide, grew to $3.07 billion in 2013, according to the "Wohlers Report," published by Wohlers Associates Inc., Fort Collins, Colo.
The compound annual growth rate (CAGR) of 34.9 percent is the highest in 17 years. The growth of worldwide revenues over the past 26 years has averaged 27 percent. The CAGR for the past three years, 2011 to 2013, was 32.3 percent.
The company believes the industry will continue strong growth over the next several years. It will be fueled by sales of personal 3-D printers priced at less than $5,000, as well as the expanded use of the technology for the production of parts, especially metal, that go into final products.
"The industry is experiencing change that we have not seen in 20+ years of tracking it," stated Tim Caffrey, senior consultant at the company and one of two principal authors of the report. “What's most exciting is that we have barely scratched the surface of what's possible."
Available for a fee, the 276-page annual study includes 35 charts and graphs, 60 tables, and 248 images and illustrations. It was created with support from 82 service providers, 29 system manufacturers, and the contributions of 70 co-authors in 24 countries.