Interest in 3D printing, or additive manufacturing, is ramping up. The technology is moving quickly from being a curiosity to a prototyping device, and now a commercial opportunity. Today, there are numerous conferences covering 3D printing, and the subject appears as sessions in many more (Printed Electronics USA 2015 and UV LED 2015 come to mind).
 
3D printing dates back to the 1980s, led by innovators such as Charles Hull, who invented stereolithography. (He co-founded 3D Systems, an industry leader). Selective laser sintering and electron beam melting are other major 3D printing technologies.
 
There is no denying that 3D printing is really interesting. I have seen plenty of examples at shows I have attended, and the intracacies of the printed devices is impressive. The ability to use additive technology to produce devices can be time saving and less costly, although you have to figure in the cost of the printer itself. Customization is a major benefit of 3D printing. The materials being used are constantly being improved, and we are even seeing conductive materials emerging.
 
The potential size of the market is an interesting question. I came across two studies that predict sizable growth, although the numbers vary substantially. Perhaps that is expected for a relatively new technology.
 
The lower estimate coms from Allied Market Research, whopse report, “3D Printing Market (Technologies, Materials, Applications and Geography) – Global Opportunity Analysis and Forecast-2013-2020,” predicts that the worldwide 3D printing market in 2020 will be approximately $8.6 billion. That would represent a compound annual growth rate (CAGR) of 20.6% from 2014 to 2020.
 
A few other numbers stand out from the Allied Market Research report:
• In terms of technologies, stereolithography accounts for approximately 33% of the overall revenue. Allied Market Research sees electron beam melting as the fastest growing technology, estimating a CAGR of 26.7% through to 2020.
• In terms of printing materials, polymers are the largest share, at $193.3 million in 2013, while metal and alloy are projected to have the fastest growth, with a CAGR of 40.5% through 2020.
• For end uses, consumer products hold 22% of the 3D printing market, with defense applications expected to grow the fastest.
• North America is the largest region for 3D printing, with 43.9% of revenue, while the Asia-Pacific region is expected to growing with a CAGR of 51.9% between 2014-2020.
 
These numbers are quite interesting. BCC Research places the market as much higher, calculating the global market for 3D printing at approximately $3.8 billion in 2014. BCC Research predicts a CAGR of 32.2% between 2014-19, bringing the 3D printing market to $15.2 billion by 2019.
 
Here are some of BCC Research’s key findings:
• Services, including design development, toll processing and equipment repair, is the largest segment, and may grow from $2 billion today to approximately $7.8 billion in 2019, a CAGR of 31.4%.
• The 3D stereolithography segment is predicted to grow from $525 million in 2014 to $1.8 billion in 2019 (a CAGR of 27.5%).
 
There is, of course, no way to know which prediction is accurate. What these two studies combined make clear is that 3D printing has a significant future ahead.