3D printing is a process where a machine, known as a 3D printer, creates a product or part by layering material over a substrate, following a digital design. The benefits of 3D printing are numerous and significant. One of the primary advantages is cost reduction, which is achieved by minimizing waste, lowering labor costs, and enabling the use of less expensive materials.
The 3D printing technology has revolutionized the manufacturing industry by enabling companies to produce complex geometries, reduce production time, and lower costs. The applications of 3D printing in manufacturing are diverse and include product enhancements, low-volume production, and high-volume production. For instance, 3D printing allows for rapid prototyping and production of enhanced products, reducing the time and cost associated with traditional manufacturing methods. Additionally, 3D printing is ideal for producing small batches of parts, enabling companies to test market demand and refine their designs before investing in large-scale production.
3D printing is also revolutionizing the construction industry by enabling the rapid creation of customized structures, such as modular housing, advanced utility systems, and adaptable public spaces. This technology allows for the design and construction of complex geometries and unique architectural designs without significantly increasing costs. The use of 3D printing in construction is also driven by the need for sustainable and eco-friendly building solutions. 3D printing can incorporate recycled and biodegradable materials, such as recycled plastics, glass, and natural materials such as hemp or bio-based polymers, to produce strong and eco-friendly building materials.
Read Also: 15 Energy Infrastructure Stocks That Are Skyrocketing and 12 Best Middle East and Africa Stocks To Buy Right Now.
According to the 3D Printing Trend Report 2024 by Protolabs, the 3D printing industry was valued at $22.14 billion in 2023 and is expected to grow to $57.1 billion by the end of 2028. The industry’s move towards production applications, including low-volume production, mass customization, and serial production, is a key factor in this growth. A network of companies providing production support and specialized solutions for a wide range of fields and applications has emerged, signifying a maturation of the wider 3D printing ecosystem. Automation systems supported by computer vision, thermal sensors, and AI can effect significant labor savings, and thus cost efficiency, further encouraging the uptake of production-level 3D printing.
The report highlights that investments in micro 3D printing continue to be significant, with the technology’s ability to achieve highly complex geometries at a microscopic scale being leveraged by a range of industries, particularly by the medical and dental sectors. However, new developments in large-format printing promise to have an impact on sectors such as construction. Large-format 3D printing is being used to print houses, bridges, and other large structures, with some companies already making significant strides in this area.
Other trends and developments expected to have an impact on the 3D printing industry in the coming year include the continued rise of metal printing (DMLS), used predominantly for aerospace, automotive, and medical applications as well as for tooling; hybrid manufacturing processes combining additive manufacturing with CNC machining and other technologies; and multi-material printing, enabling the combination of materials with different properties in one printed object.
The report also notes the increasing importance of AI in the 3D printing industry. AI is expected to have a wider impact on hardware, for instance in quality control with in-process monitoring and anomaly detection. Smart printers will get smarter, improving user experience. Design for additive manufacturing will also benefit from AI innovations, such as topology optimization, Multiphysics process simulation, and AI-generated CAD.
The 3D printing industry is poised for continued growth and innovation, driven by advances in technology, materials, and applications. As the industry continues to mature, investors can expect to see increased adoption of 3D printing in a wide range of industries, from aerospace and automotive to healthcare and consumer products. With that in context, let’s take a look at the 11 best 3D printing and additive manufacturing stocks to buy.
A close-up of a 3D printed object, showcasing the intricacies of the 3D printing materials.
Our Methodology
To compile our list of the 11 best 3D printing and additive manufacturing stocks to buy, we sifted through internet rankings to find companies that are involved in 3D printing and additive manufacturing. We then used Insider Monkey’s Hedge Fund database to rank 11 stocks according to the largest number of hedge fund holders, as of Q3 2024. The list is sorted in ascending order of hedge fund sentiment.
Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
11 Best 3D Printing and Additive Manufacturing Stocks To Buy
11. Materialise NV (NASDAQ:MTLS)
Number of Hedge Fund Holders: 6
Materialise NV (NASDAQ:MTLS) is a Belgium-based leader in 3D printing and additive manufacturing solutions. The company offers editing software such as Materialise Magics for 3D printing and additive manufacturing, tailored to industries such as healthcare, automotive, and aerospace. Materialise NV (NASDAQ:MTLS) is known for its expertise in personalized medical applications, including patient-specific implants and surgical equipment.
Materialise NV (NASDAQ:MTLS) is investing in its manufacturing capabilities to support the growth of its 3D printing business. The company has opened a second plant in its subsidiary ACTech. This expansion is focused on high-precision casting prototypes and small series of metal parts and is expected to increase the company’s capacity, enhance its ability to address the market for more complex metal parts and small series and strengthen its position in the automotive and aerospace markets. Materialise NV (NASDAQ:MTLS) has announced partnerships with leading companies such as nTop, Formlabs, and Stratasys, which are expected to drive growth and adoption of its software solutions.
Materialise NV (NASDAQ:MTLS) is also focusing on growing its business in the medical sector. The company’s U.S. manufacturing plant has been instrumental in bringing personalized solutions to trauma patients, with the ability to deliver parts with shorter and more reliable lead times. Additionally, the company is investing in its Mimics platform, which is aimed at expanding its position in the research and engineering markets, making it easier and faster for customers to treat personalized cases.
10. Xometry, Inc. (NASDAQ:XMTR)
Number of Hedge Fund Holders: 7
Xometry, Inc. (NASDAQ:XMTR) is a leading online marketplace for manufacturing services, connecting buyers with a network of suppliers across the globe. The company offers a range of manufacturing services, including 3D printing, CNC machining, injection molding, and metal fabrication, among others. Xometry, Inc. (NASDAQ:XMTR) serves industries such as aerospace, healthcare, and automotive.
Xometry, Inc. (NASDAQ:XMTR) is investing in next-generation AI and partnering with Google Vertex to enhance its instant quoting capabilities for 3D printing and other manufacturing processes. This enables the company to provide faster and more accurate quotes to customers along with increased efficiency of the manufacturing process. Additionally, Xometry, Inc. (NASDAQ:XMTR) is investing in tools such as Team Space, which enables customers to collaborate and manage complex orders. These tools are helping the company to drive deeper engagement with large customers and increase wallet share.
Xometry, Inc. (NASDAQ:XMTR) is also pursuing international expansion and diversification as key components of its growth strategy. The company’s expansion into new markets, such as Europe and Asia, is being driven by the launch of localized marketplaces and the addition of new suppliers to its network. The company’s ability to provide instant quoting and manufacturing services in multiple languages is also helping to drive adoption in these new markets. By doing so, Xometry, Inc. (NASDAQ:XMTR) aims to reduce its dependence on one market or region.
9. Nano Dimension Ltd. (NASDAQ:NNDM)
Number of Hedge Fund Holders: 10
Nano Dimension Ltd. (NASDAQ:NNDM) is an Israel-based company specializing in 3D printing electronics, including multilayer circuit boards and antennas. The company’s proprietary DragonFly system enables the production of complex, high-precision electronics using conductive and dielectric inks. Nano Dimension Ltd. (NASDAQ:NNDM) serves clients in defense, aerospace, and consumer electronics.
One of the key strategies that Nano Dimension Ltd. (NASDAQ:NNDM) is employing to grow its business is through the acquisition of other companies in the 3D printing and additive manufacturing space. The company has recently announced the acquisition of Desktop Metal and Markforged, two major players in the industry. This move is expected to significantly expand the company’s product offerings and customer base. These acquisitions will also bring a range of advanced technologies, including inkjet, binder jet, DLP, FDM, ceramics, composites, electronics, metal, metal casting, polymer, and micro-polymer, making Nano Dimension Ltd. (NASDAQ:NNDM) one of the most comprehensive providers of 3D printing solutions in the industry.
Nano Dimension Ltd. (NASDAQ:NNDM) is also focused on improving its operational efficiency and reducing costs. The company has been working to streamline its operations and eliminate unnecessary expenses, with the goal of achieving profitability in the near future.
8. Stratasys Ltd. (NASDAQ:SSYS)
Number of Hedge Fund Holders: 12
Stratasys Ltd. (NASDAQ:SSYS) is a pioneer in 3D printing and offers a broad portfolio of polymer-based solutions for industries such as healthcare, aerospace, and automotive through its cutting-edge technologies including PolyJet, FDM, and SAF 3D printing. Stratasys Ltd. (NASDAQ:SSYS) has collaborated with major companies such as Airbus and Ford to produce prototypes, tools, and end-use parts.
Stratasys Ltd. (NASDAQ:SSYS) is focusing its efforts on high-growth industries such as automotive, aerospace, defense, medical devices, and dental, where additive manufacturing is increasingly being adopted. Furthermore, the company is driving innovation in 3D printing and additive manufacturing through the launch of new products and solutions. The company recently launched the Origin 2 printer and the Origin Cure post-processing system, which helps customers produce injection-molding quality parts for sectors where manufacturing costs are high.
Stratasys Ltd. (NASDAQ:SSYS) has also introduced the Neo Build Processor for stereolithography 3D printing as a low-cost alternative to traditional investment casting, this unique solution is designed in collaboration with Materialise NV to accelerate the production of high-quality investment casting master patterns. The Neo Build Processor delivers up to 50% faster file processing and enhanced print speeds to streamline the 3D printing workflow for manufacturers in the aerospace and other demanding industries.
7. Proto Labs, Inc. (NYSE:PRLB)
Number of Hedge Fund Holders: 17
Proto Labs, Inc. (NYSE:PRLB) operates a proprietary quoting platform that specializes in rapid prototyping and on-demand manufacturing by using 3D printing, CNC machining, and injection molding. The company caters to industries such as medical devices, electronics, and automotive.
Proto Labs, Inc. (NYSE:PRLB) is refining its portfolio of fulfillment options to optimize its consolidated gross margin. The company has announced the closing of its prototype injection molding facility in Eschenlohe, Germany, and discontinue direct metal laser sintering (DMLS) manufacturing services through its factory operation in Europe. By taking these steps, Proto Labs, Inc. (NYSE:PRLB) aims to realign its resources and focus on high-growth areas, such as 3D printing and additive manufacturing, where the company believes it can leverage its expertise and capabilities to deliver greater value to our customers.
Proto Labs, Inc.’s (NYSE:PRLB) recent collaboration with Harley-Davidson Factory Racing, where Harley-Davidson’s engineering team used Proto Labs, Inc.’s (NYSE:PRLB) digital manufacturing services to prototype, test, and order parts for their racing motorcycles within a few days is a prime example of how its digital manufacturing services can enable customers to drive innovation and improve performance.
6. 3D Systems Corporation (NYSE:DDD)
Number of Hedge Fund Holders: 21
3D Systems Corporation (NYSE:DDD) is a global leader in 3D printing and additive manufacturing. The company’s diverse portfolio includes hardware, software, and materials for healthcare, aerospace, and automotive industries. 3D Systems Corporation’s (NYSE:DDD) medical division is particularly prominent and produces patient-specific implants and surgical guides.
3D Systems Corporation (NYSE:DDD) is making significant investments in its healthcare business, including the development of new 3D printing solutions for the production of personalized medical devices and implants. The company has recently introduced a new 3D-printed denture solution that offers patients several benefits, including improved break resistance and aesthetics. This new 3D-printed denture solution is cleared by the FDA and aims to help dental laboratories efficiently produce dentures using this solution.
Following the clearance from the FDA, 3D Systems Corporation (NYSE:DDD) has partnered with Glidewell, one of the world’s largest producers of restorative dental devices, to implement its jetted dentures into the workflow. According to 3D Systems Corporation (NYSE:DDD) the denture market is expected to exceed $2 billion by 2028 and the company is well-positioned to capitalize on this growing demand.
Furthermore, 3D Systems Corporation (NYSE:DDD) is focusing on the development of new applications and materials for its 3D printing platforms. The company’s Application Innovation Group (AIG) is working closely with customers to develop new uses for 3D printing, including the production of complex metal parts and components for the aerospace and defense industries.
5. DENTSPLY SIRONA Inc. (NASDAQ:XRAY)
Number of Hedge Fund Holders: 29
DENTSPLY SIRONA Inc. (NASDAQ:XRAY) is a global leader in dental solutions that leverages 3D printing technology for precision dentistry. The company’s products include dental implants, prosthetics, and other related products. DENTSPLY SIRONA Inc. (NASDAQ:XRAY) also focuses on additive manufacturing, which ensures a competitive edge in the dental market.
To drive growth and improve its competitiveness, DENTSPLY SIRONA Inc. (NASDAQ:XRAY) is undergoing a transformation program that aims to simplify its portfolio, drive network efficiency, and modernize its ERP system. The company has made significant progress in this area, including the elimination of non-revenue-generating SKUs and the closure of underperforming manufacturing sites. Additionally, DENTSPLY SIRONA Inc. (NASDAQ:XRAY) has launched new products, such as Primescan 2, an advanced 3D scanner, and XMEye Pro Plus, a digital X-ray system. These new products are designed to help dental professionals improve their workflows and provide better patient outcomes.
DENTSPLY SIRONA Inc. (NASDAQ:XRAY) is also working to provide 3D printing solutions that are easy to use, efficient, and effective, and that help dental professionals improve their workflows and provide better patient outcomes. For example, the company’s SureSmile clear aligner system uses 3D printing technology to create customized orthodontic treatments that are designed to be more efficient and effective than traditional orthodontic treatments.
4. Carpenter Technology Corporation (NYSE:CRS)
Number of Hedge Fund Holders: 44
Carpenter Technology Corporation (NYSE:CRS) specializes in high-performance materials and additive manufacturing solutions. The company develops advanced alloys and metal powders for 3D printing, catering to the aerospace, defense, and medical industries. Carpenter Technology Corporation (NYSE:CRS) has partnered with aerospace leaders such as Boeing to produce advanced 3D printing applications.
Carpenter Technology Corporation (NYSE:CRS) is focusing on driving growth in the field of 3D printing and additive manufacturing. The company has recognized the significant potential of this technology to revolutionize the way products are designed and manufactured and is investing heavily in producing complex geometries and structures that cannot be produced using traditional manufacturing methods. The company is also working closely with its customers to understand their needs and develop tailored solutions that meet their specific requirements.
Carpenter Technology Corporation (NYSE:CRS) is focused on expanding its product offerings and improving its operational efficiency. The company is investing in new equipment and technologies, such as advanced melting and processing capabilities, to increase its production capacity and reduce costs. The company is also working to optimize its supply chain and logistics operations, to ensure that it can deliver high-quality products to its customers quickly and efficiently.
3. Jabil Inc. (NYSE:JBL)
Number of Hedge Fund Holders: 45
Jabil Inc. (NYSE:JBL) is a global manufacturing services company that uses 3D printing to provide comprehensive design, manufacturing, and product management services to a wide range of industries, including cloud, data center, automotive, healthcare, and consumer products. The company has a strong presence in over 30 countries.
Jabil Inc.’s (NYSE:JBL) 3D printing business is a key area of focus for the company, with a particular emphasis on silicon photonics. The company has made significant investments in this area, including the acquisition of a business from Intel last year. The company’s silicon photonics business is expected to drive significant revenue growth in the coming years. Jabil Inc. (NYSE:JBL) is also working on next-generation designs, including 800G and 1.6T, and is expecting to gain a share in the medium term.
Jabil Inc. (NYSE:JBL) is actively pursuing growth opportunities in emerging markets, particularly in the areas of cloud and data center infrastructure. The company has been successful in deepening its relationship with its largest hyperscaler customer, with whom it has secured new business wins in the custom AI-driven GPU rack integration space. Additionally, Jabil Inc. (NYSE:JBL) has also won programs with a new hyperscaler customer in the silicon photonics business.
2. Align Technology, Inc. (NASDAQ:ALGN)
Number of Hedge Fund Holders: 50
Align Technology, Inc. (NASDAQ:ALGN) is a leading medical device company that uses 3D printing to create Invisalign systems that are used to straighten teeth using removable and custom-made aligners. The company is known as a frontrunner in 3D-printed dental solutions and partnerships with dental professionals worldwide.
Align Technology, Inc. (NASDAQ:ALGN) is scaling up its direct 3D printing fabrication operations and is investing in new equipment and technology to increase its manufacturing capacity, and is working to develop new products and applications for its 3D printing. Align Technology, Inc.’s (NASDAQ:ALGN) new materials and resins for use in its 3D printing will enable the company to produce a wider range of dental products. The company is also working to integrate its 3D printing capabilities with its existing products and services, such as the Invisalign system and the iTero scanner, to create a seamless and efficient workflow for its customers.
Align Technology, Inc. (NASDAQ:ALGN) is launching new software applications, such as its restorative workflow software, which will enable dentists and orthodontists to design and manufacture customized dental restorations using the company’s 3D technology. The company is also expanding its sales and marketing efforts to reach new customers and increase awareness of its products and services.
1. Synopsys, Inc. (NASDAQ:SNPS)
Number of Hedge Fund Holders: 53
Synopsys, Inc. (NASDAQ:SNPS) is a leader in electronic design automation and empowers companies to design optimized 3D-printed components with precision and scalability. The company primarily focuses on the semiconductor and electronics industries.
Synopsys, Inc. (NASDAQ:SNPS) is in the process of acquiring Ansys, a leading provider of engineering simulation software. This acquisition is expected to have a significant impact on Synopsys, Inc.’s (NASDAQ:SNPS) 3D business. The combined entity will be able to deliver comprehensive solutions that integrate electronic design automation and multi-physics simulation, which are aimed at providing customers with insights into their under-development products and will enable the creation of more complex and sophisticated 3D designs to drive innovation and growth in the semiconductor and electronics industries. Synopsys, Inc.’s (NASDAQ:SNPS) acquisition of Ansys also presents opportunities for growth as Ansys’ simulation software is already being used in various additive manufacturing applications, including the design and optimization of 3D-printed parts and products.
Synopsys, Inc. (NASDAQ:SNPS) is placing a significant emphasis on growing its 3D business, driven by the increasing demand for complex semiconductor chips and electronic systems. The company’s 3D IC Compiler and silicon lifecycle management solutions are also gaining traction, with a notable test chip tape out demonstrating the industry’s only end-to-end unified solution for 3D design. Furthermore, the company’s partnership with ecosystem leaders such as TSMC is enhancing predictability and yield for 3D designs, which is expected to drive further adoption of its 3D solutions.
While we acknowledge the potential of Synopsys, Inc. (NASDAQ:SNPS) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SNPS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock
Disclosure. None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
