An editorial review of 2023, published in January 2024. Observations and expectations refer to that period. The table distinguishes transactions announced in 2023 from those completed later.
Before writing this 2023 review, I revisited my 2022 assessment. Consolidation through acquisitions and funding already dominated our conversations. Materials and software held a central place in the manufacturing chain, while quality assurance and computed tomography were among the areas to watch. In several respects, those concerns continued throughout 2023.
Financial pressures and consolidation
Consolidation continued through acquisitions of companies, business units and technologies. The table brings together 24 transactions and announcements from our 2023 coverage. It is neither an exhaustive market census nor a count of 24 acquisitions all completed that year. Discussions involving Stratasys, 3D Systems, Nano Dimension and Desktop Metal also attracted considerable attention, without every proposed transaction reaching completion.
These transactions suggest different strategies. An equipment manufacturer may broaden its portfolio; a company in an application sector may acquire technology to develop its own products. The Align Technology–Cubicure transaction illustrates the latter. Its interest in photopolymerization makes subsequent applications worth following, without assuming their industrial or financial outcome.
Restructuring also featured in our discussions, including at AMT and 3D Systems. Closing a service should be distinguished from closing a company: Sculpteo discontinued its model marketplace in 2023 while maintaining its on-demand manufacturing activities. LinkedIn profiles marked “open to work” do not, by themselves, measure changes in employment across the industry.
The year also brought new entrants, offerings and initiatives: ECL, Outokumpu, Evove, JPB Système, SAEKI, 3D BioFibR, flō, Additive Appearance, Pelagus 3D and ArcelorMittal Powders. These ten names do not all represent companies founded in 2023: some are new businesses or offerings from established organizations. Several draw on experience in other fields, giving us reasons to follow their development.
Looking beyond announcements
At Formnext 2023, product details and conversations with users seemed as revealing to me as major announcements. Thermwood, Solukon, Lithoz and Raise3D were among the companies that caught my attention. Those observations do not establish that only smaller companies innovate, or that innovation follows automatically from an absence of outside investors.
My question remains: how can the industry build sustainable development around revenue from products and services that deliver useful results? Profitability and cash flow matter, but do not alone guarantee continuous growth. Development investment, sales cycles and customer needs also need consideration.
A considered go-to-market strategy and documented applications can help connect a technology with a need. Their effectiveness needs assessment; they are not automatically profitable in every setting.
Starting with applications
I remain convinced that a technology becomes more credible when its value is demonstrated in tangible applications. That is why our coverage explores aerospace, defence, nuclear, architecture, fashion, art, automotive, rail, construction, education, energy, food, healthcare, maritime, sport and research, alongside their environmental challenges.
Among the subjects we covered in 2023, medical and healthcare applications were most prominent, followed by aerospace and space. The chart represents our editorial selection of applications, development collaborations and product announcements. It does not measure market share or additive-manufacturing production volumes by industry.
Our medical coverage included cranial and tibial implants, dental splints, skin research, customized cushions and aids, exoskeletons, dressings, ophthalmic devices and printed medicines. These examples span different stages, from research to clinical use. A demonstration is not equivalent to market authorization or evidence of clinical benefit for every device.
Not every application involves mass production. A useful starting point may be a clearly defined need, followed by a comparison with an established method using quality, cost and volume criteria. Moulds used to produce dental aligners offer an industrial pathway to study, rather than a universal formula.
In my view, heavy industries also deserved more attention in 2024. Choosing a market should start with the problems to solve and the ability to qualify a solution, rather than announced investment amounts alone.
Building sustainable development
The difficulties of 2023 tested companies and teams. They also highlighted the need to translate resources invested in technology into useful outcomes for users. Consolidation is only one part of that development: design, materials, post-processing and inspection remain equally important.
Cost remains a constraint. It needs to be assessed across the whole chain, considering volumes, yield, finishing operations and inspection requirements. A lower purchase cost does not necessarily mean a lower cost per acceptable part.
Read part two: ten technology themes from 2023.
First published in the November/December 2023 issue of 3D ADEPT Mag.
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