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AMFG blog highlights pandemic’s effects on 3D printing industry
- September 29, 2020
- News Release
- Additive Manufacturing
AMFG has posted a blog that explores how the COVID-19 pandemic has affected the 3D printing industry. Following is an excerpt.
The 3D printing industry has been on a stable growth trajectory over the last decade. In 2019 the global additive manufacturing market grew to more than $10.4 billion, crossing the double-digit billion threshold for the first time in its nearly 40-year history, as more companies explored promising applications for AM, from footwear to implants to rocket engine parts.
During the first half of 2020, however, 3D printing companies were shaken by the drop in hardware demand. Technology market research firm Context estimates that shipments of hardware in the industrial and design segments dropped more than 30% in Q1 2020. In that same quarter, the metal AM hardware market plummeted about 33% year over year compared to 2019.
HP’s Commercial Hardware division, which includes 3D printer sales, fell by 37%. Similarly, 3D Systems announced layoffs after releasing its Q2 2020 financial results, with reported revenue down by 28%. A similar fate befell Stratasys as the company’s revenue declined by nearly 30% in Q2.
While some AM companies faced decline, others managed to thrive, or at least maintain stability, during the crisis. One example is Germany-based metal 3D printer manufacturer SLM Solutions, which reported a 90% increase in revenue over the first half of 2020. One factor driving this growth could be a backlog of previous orders that were fulfilled during the first half of the year.
Earlier this year SLM Solutions announced it signed a deal with Beamit, an Italy-based service bureau, for the purchase and delivery of no fewer than 15 machines over the next three years. With the average price of metal 3D printers being hundreds of thousands of dollars, this deal could be contributing significantly to SLM Solutions’ increase in revenues.
Even as the pandemic rattles worldwide markets, 3D printing companies continue to attract capital. Since the beginning of the year, several companies, including Velo3D, Arevo, nTopolgy, and Additive Industries, have announced successful investment rounds.
“When things return to normal, where will the place of 3D printing be in this new reality?” the author of the blog asks. “We believe that the pandemic has been the watershed moment for the 3D printing industry. … Companies are being encouraged to challenge their supply chain legacies and try new avenues to remain in business. 3D printing has proved to be one of the key solutions companies can turn to when traditional manufacturing hits the wall.
“Importantly, 3D printing can facilitate the shift to digital manufacturing, as a part of a digital transformation trend, particularly when coupled with the tools that enable greater connectivity and automation.”
- Podcasting
- Podcast:
- The Fabricator Podcast
- Published:
- 03/26/2024
- Running Time:
- 67:51
This week on The Fabricator Podcast, Jason Becker, host of the Arc Junkies Podcast and owner of Underground...
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