In this article, we discuss the top 10 3D printing companies in the world.
The 3D printing industry is a dynamic and high-growth industry that is becoming more mainstream with each passing day. According to Strategic Market Research, in 2021, the 3D printing market’s total addressable market was valued at $13.5 billion, and the sector is currently expanding at a rate of over 15% annually. However, there are regional differences in how this technology is being implemented. While in nations like India, less than 20% of industrial production businesses employ 3D printing technology, the employment rate is over 40% in the United States. The market for 3D printing hardware in North America is expected to reach $4 billion in 2021.
Given how extensively the world relied on additive manufacturing to endure the COVID-19 pandemic, the recent uptick in confidence toward 3D printing does not appear to be a coincidence. Companies with 3D printing technologies began scaling up the production of the scarce medical personal protective equipment (PPE) like respirators and face masks as the pandemic progressed. By accelerating prototypes and research, 3D printing assisted in the development of novel diagnostic tools and testing kits.
3D printing applications are numerous since it enables customers to design and modify products quickly before investing in the expensive processes involved in traditional manufacturing. Three-dimensional printed batteries are one example of an application area that is rapidly expanding. The primary driver of market expansion is the growing need for strong batteries for energy storage. According to the International Renewable Energy Agency (IRENA), to achieve the target of about 45% of power output from renewable sources by 2030, the globe will need to install nearly 150 GW of battery storage. Strategic Market Research estimates that by 2030, the market for 3D printed batteries will expand by 19.5% annually.
Furthermore, the automotive, industrial manufacturing, and aerospace industry are also among the industries heavily investing in 3D technology. The size of the global aircraft 3D printing market was nearly $1.7 billion in 2021, and it is anticipated to grow at a CAGR of 20.23% to $9.2 billion by 2030. Notable players in the 3D Printing Industry include Autodesk, Inc. (NASDAQ:ADSK), Stratasys Ltd. (NASDAQ:SSYS), and Xometry, Inc. (NASDAQ:XMTR).
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Our Methodology
We have looked at the growth potential and the financial strength of these companies. The analyst ratings have been discussed to provide an overview of the market sentiment. Insider Monkey’s database of 895 hedge funds was used to rank the stocks according to the level of hedge fund ownership as of Q2 2022.
Top 10 3D Printing Companies in the World
10. SLM Solutions Group AG (OTC:SLGRF)
Number of Hedge Fund Holders: N/A
SLM Solutions Group AG (OTC:SLGRF) is a Lübeck, Germany-based producer of 3D printers and the inventor of the selective laser melting procedure with over 650 machines installed across the world.
Analysts think that SLM Solutions Group AG (OTC:SLGRF) is a “pioneer” in the field of metal additive manufacturing. The company stands to benefit from short-term and long-term growth catalysts due to the new product cycles and the shift toward employing 3D printing equipment in mass production processes. Experts believe that the company’s latest 3D printer NXG XII 600, has a solid demand outlook, and SLM Solutions Group AG (OTC:SLGRF) can see its sales compound annually at an average rate of 33% from FY21 to FY24.
SLM Solutions Group AG (OTC:SLGRF) revealed that the NXG XII 600 had effectively entered the delivery stage of production during the second quarter. The first two units in the series were delivered in Q2 in accordance with the company’s long-term plan. The company also received two new orders for the machine during the quarter. In addition to that, Rolls Royce bought two more of the company’s SLM 500 systems to increase the production of Pearl10X engines.
Troy Jensen at Lake Street initiated coverage on the stock in a note issued to investors on July 22. Jensen gave SLM Solutions Group AG (OTC:SLGRF) stock a Buy rating and a target price of $18. The target price provides a potential upside of over 51.2% from the closing price as of August 22.
9. Materialise NV (NASDAQ:MTLS)
Number of Hedge Fund Holders: 5
Materialise NV (NASDAQ:MTLS) is a Leuven, Belgium-based provider of 3D printing software solutions and printing services with an experience of over three decades. The company has one of the world’s biggest 3D printing facilities.
Materialise NV’s (NASDAQ:MTLS) manufacturing operations have exceeded the pre-Covid levels as of Q2 2022. The company has notably shifted its attention to the 3D printing segments and verticals that it believes offer the highest growth opportunities.
During Q2 2022, Materialise NV (NASDAQ:MTLS) outperformed revenue estimates and reported in-line adjusted EPS as higher inflation and labor costs impacted the bottom line. Revenue increased by 14.5% YoY to $59.16 million, beating the consensus forecast of $58.48 million. Meanwhile, the adjusted EPS of two cents was in-line with the analysts’ forecast. Materialise NV (NASDAQ:MTLS) also revealed that it anticipates FY22 revenue to increase by at least 10% YoY to $256 million as opposed to the analysts’ forecast of $233.32 million.
As of June 30, Cathie Wood’s Ark Investment Management is the biggest shareholder in Materialise NV (NASDAQ:MTLS), with ownership of over 6.2 million shares or 11.45% of total shares outstanding. During Q2, the hedge fund increased its stake in the company by 6% on a sequential basis.
8. Nano Dimension Ltd. (NASDAQ:NNDM)
Number of Hedge Fund Holders: 8
Nano Dimension Ltd. (NASDAQ:NNDM) is a Waltham, Massachusetts-based organization that employs 3D printing in the manufacturing of circuit boards and other electronic devices. The company is also bringing more precision to the 3D printing industry through its Fabrica 3D precision micro AM printers.
In July, Nano Dimension Ltd. (NASDAQ:NNDM) acquired Formatec Holding for $12.9 million. Formatec Holding specializes in the production of 3D printing systems for metal and ceramic parts. Over the last year, Nano Dimension Ltd. (NASDAQ:NNDM) made three acquisitions. Analysts believe the company can support these growth ventures due to its strong balance sheet and over $1.2 billion in cash and short-term investments. To return value to shareholders, Nano Dimension Ltd. (NASDAQ:NNDM) has also announced a share buyback plan of $100 million.
Furthermore, Nano Dimension Ltd. (NASDAQ:NNDM) revealed that it had acquired a 12% stake in Stratasys Ltd. (NASDAQ:SSYS) on July 18. Stratasys has the distinction of being one of the oldest and biggest players on the polymer side of the 3D printing industry.
Nano Dimension Ltd. (NASDAQ:NNDM) reported its preliminary Q2 2022 results on July 27. The company recorded revenue of $11 million, reflecting a 5.5% growth sequentially and 1,275% from the same period last year.
Nano Dimension Ltd. (NASDAQ:NNDM) was held by 8 hedge funds as of Q2 2022.
7. Desktop Metal, Inc. (NYSE:DM)
Number of Hedge Fund Holders: 12
Desktop Metal, Inc. (NYSE:DM) is a Burlington, Massachusetts-based 3D printing company founded in 2015. The company is working on increasing the applicability of 3D printing for mass production through its broad portfolio.
Desktop Metal, Inc. (NYSE:DM) believes it will have a total addressable market (TAM) of over $100 billion in the additive manufacturing segment by 2030. This reflects a compound annual growth rate of over 25% from 2019 to 2030. The company has a strong pipeline of more than 650 patents, either approved or at the pending stage.
Desktop Metal, Inc. (NYSE:DM) reported better-than-expected Q2 2022 results on August 8. Revenue increased by 32% quarter-over-quarter (QoQ) and by 204% YoY to a record level of $57.7 million. It surpassed analysts’ forecast of $54.36 million. Desktop Metal, Inc. (NYSE:DM) reiterated its FY22 revenue forecast of around $260 million as opposed to the analysts’ forecast of $251.96 million.
Overall, 12 hedge funds reported owning a stake in Desktop Metal, Inc. (NYSE:DM) at the end of Q2 2022.
6. 3D Systems Corporation (NYSE:DDD)
Number of Hedge Fund Holders: 15
3D Systems Corporation (NYSE:DDD) is a Rock Hill, South Carolina-based developer, manufacturer, and seller of 3D printers, scanners, and related services.
To consolidate its position in the 3D printing industry, 3D Systems Corporation (NYSE:DDD) has acquired Kumovis and Titan Robotics over the last year. President and CEO Dr. Jeffrey Graves believe that 2022 will be an investment year during which 3D Systems Corporation (NYSE:DDD) will restructure its solutions portfolio and introduce distinctive competencies in the area of software services and regenerative medicine. The effort is being made to provide long-term value to shareholders through growth and profitability.
Analysts believe that 3D Systems Corporation (NYSE:DDD) has a solid customer base that would allow the company to weather the short-term headwinds and continue on its growth trajectory. The 3D medical equipment segment in the healthcare sector is anticipated to increase from over $2 billion to around $6.6 billion through 2028, reflecting a CAGR of 17.5%. 3D Systems Corporation (NYSE:DDD) is anticipated to receive a sizable portion of new contracts from this sector as the company refocuses its efforts to meet the increasing demand.
Of the 895 hedge funds being tracked by Insider Monkey at the end of Q2 2022, 15 funds held a stake in 3D Systems Corporation (NYSE:DDD).
In addition to 3D Systems Corporation (NYSE:DDD), stocks like Autodesk, Inc. (NASDAQ:ADSK), Stratasys Ltd. (NASDAQ:SSYS), and Xometry, Inc. (NASDAQ:XMTR) are also on our list of the top 10 3D printing companies in the world.
5. Xometry, Inc. (NASDAQ:XMTR)
Number of Hedge Fund Holders: 16
Xometry, Inc. (NASDAQ:XMTR) is a Gaithersburg, Maryland-based marketplace with artificial intelligence (AI) capabilities that provide 3D printing, sheet metal, and injection molding services online. The company has the distinction of having leading companies like Dell Technologies Inc. (NYSE:DELL), General Electric Company (NYSE:GE), NASA, and BMW as its customers.
Xometry, Inc. (NASDAQ:XMTR) acquired ThomasNet in late 2021. ThomasNet is a material procurement and digital marketing solutions provider. This strategic acquisition gave Xometry, Inc. (NASDAQ:XMTR) access to a diverse range of manufacturers and buyers by combining ThomasNet’s market insights with the manufacturing base of Xometry.
Analysts see Xometry, Inc. (NASDAQ:XMTR) as offering a “compelling” value proposition. They call it an investment play for investors looking for returns that significantly outperform the broader market but are willing to accept short-term volatility in share price. David Silver at CL King increased the target price for Xometry, Inc. (NASDAQ:XMTR) from $55 to $65 and maintained a Buy rating on the stock in a research note issued to investors on August 11.
Xometry, Inc. (NASDAQ:XMTR) posted better-than-expected Q2 2022 results, issued strong guidance for Q3 2022, and also increased its revenue guidance range for FY22.
4. Markforged Holding Corporation (NYSE:MKFG)
Number of Hedge Fund Holders: 17
Markforged Holding Corporation (NYSE:MKFG) is a Watertown, Massachusetts-based manufacturer and seller of 3D metal and continuous carbon fiber printers, software, materials, and other related services.
Markforged Holding Corporation (NYSE:MKFG) reported its Q2 2022 results on August 11. Revenue increased by 18.6% YoY to $24.23 million for the three months and outperformed the analysts’ forecast of $22.46 million. Markforged Holding Corporation (NYSE:MKFG) has outperformed the broader industry during periods of recession due to its ability to generate healthy cash flows and a strong balance sheet. Furthermore, the company has the highest gross profit margin in the industry despite a top line that is 80% lower than its larger competitors.
Markforged Holding Corporation’s (NYSE:MKFG) management is focused on launching major new products every year. Manufacturers are increasingly turning to Markforged Holding Corporation’s (NYSE:MKFG) most recent 3D printer, FX20, for more significant applications through the Digital Forge. Due to the printer’s ability to print parts that can withstand high temperatures, the demand for FX20 surpassed the company’s expectations during Q2 2022.
As of Q2 2022, 17 funds held a stake in Markforged Holding Corporation (NYSE:MKFG).
3. Proto Labs, Inc. (NYSE:PRLB)
Number of Hedge Fund Holders: 19
Proto Labs, Inc. (NYSE:PRLB) is a Maple Plain, Minnesota-based 3D printing company that produces customized and low-volume prototypes for appliances, automotive, consumer products, electronics, and medical devices.
Proto Labs, Inc. (NYSE:PRLB) reported mixed Q2 2022 results on August 5 as it beat EPS estimates but failed to outperform the top-line forecasts for the period. Revenue increased by 3.2% YoY to $126.9 million. On the other hand, the adjusted EPS of 46 cents was seven cents higher than the analysts’ estimates. Proto Labs, Inc. (NYSE:PRLB) revealed that it anticipates Q3 2022 EPS to be in the range of 36 cents to 44 cents. The midpoint of 40 cents is 16 cents higher than the analysts’ forecast. Meanwhile, the company sees revenue to be in the range of $121 million to $129 million.
Currently, Proto Labs, Inc.’s (NYSE:PRLB) primary aim is the growth of its revenue through improved pricing, more product options, and Hubs network integration. During Q2, the company observed rapid growth in both its CNC machining and 3D printing segment. Proto Labs, Inc. (NYSE:PRLB) intends to accelerate the growth of its injection molding service in the future.
Of the 895 hedge funds in Insider Monkey’s database, Proto Labs, Inc. (NYSE:PRLB) was held by 19 hedge funds at the end of Q2 2022.
2. Stratasys Ltd. (NASDAQ:SSYS)
Number of Hedge Fund Holders: 21
Stratasys Ltd. (NASDAQ:SSYS) is an Edina, Minnesota-based Israeli-American 3D printing company that provides 3D printers and materials to leading companies in the world through its offices in 13 countries.
To assist in the expansion of operations, Stratasys Ltd. (NASDAQ:SSYS) announced the takeover of polymers supplying entity Covestro in early August. The acquisition will make it possible for Stratasys Ltd. (NASDAQ:SSYS) to provide customers with more comprehensive solutions and quicken the production of next-generation manufacturing parts.
Following Nano Dimension Ltd.’s (NASDAQ:NNDM) 12% stake in the company, Stratasys Ltd. (NASDAQ:SSYS) adopted a limited duration rights plan or a poison fill. The rights plan is a way to prevent Nano Dimension from gaining over a 15% stake in the company.
On August 16, Shannon Cross at Credit Suisse initiated coverage on Stratasys Ltd. (NASDAQ:SSYS) stock with an Outperform rating and a target price of $24. The analyst initiated coverage of various 3D printing companies in the research note but only gave Stratasys Ltd. (NASDAQ:SSYS) an Outperform rating due to its stellar operational performance and focus on polymer-related technologies. The analyst anticipates Stratasys Ltd. (NASDAQ:SSYS) to experience margin expansion along with growth in revenue as the company focuses on manufacturing applications of 3D printing.
1. Autodesk, Inc. (NASDAQ:ADSK)
Number of Hedge Fund Holders: 53
Autodesk, Inc. (NASDAQ:ADSK) is an American multinational software company. Two of the company’s most popular software for additive manufacturing and simulation include Netfabb and Fusion 360.
Citi identified Autodesk, Inc. (NASDAQ:ADSK) as one of its most alluring stocks two weeks ago. The financial services firm praised the company’s fundamentals, investor confidence, and value. Since its establishment, Autodesk, Inc. (NASDAQ:ADSK) has experienced almost unrestricted growth. Over the last five years, the company’s revenue has more than doubled. Autodesk, Inc. (NASDAQ:ADSK) has a predominately subscription-based revenue model that promotes long-term growth due to its customers’ strong brand loyalty and high switching costs.
Analysts have given Autodesk, Inc. (NASDAQ:ADSK) stock a consensus rating of Buy with a price target of $243.52. The target suggests a potential one-year return of 15%.
Autodesk, Inc. (NASDAQ:ADSK) was discussed in the Q4 2021 investor letter of Polen Capital. Here’s what the investment management firm said about the company:
“We added to Autodesk on share price weakness. Near-term concerns have made the valuations of the company quite attractive in our view. Autodesk has consistently reported solid results, but management recently provided lower than expected guidance, noting supply chain issues, inflation squeezing its customer margins, global labor shortages, and complications from rolling and unpredictable COVID lockdowns globally. In aggregate, these issues mean that fewer client projects have been completed, despite high endmarket demand. Ultimately, many of these productivity pressures will likely drive the need to digitize further.
To be clear, much of the pressure on Autodesk’s share price recently was due to expectations, not a decline in the fundamentals of the business. The company continues to grow revenues at greater than mid-teens rates while simultaneously enjoying record renewal rates. While each of the noted factors present real challenges in the near term, we think the lower share price provides long-term investors an opportunity. Given the secular trend towards digitization and the ever-increasing mission-critical nature of Autodesk’s products, we are confident in the long-term investment case.”
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Disclose. None. Top 10 3D Printing Companies in the World is originally published on Insider Monkey.
