On October 7, 2026, market research firm AM Research released its quarterly tracking data: the global additive manufacturing market reached $4.5 billion in Q2 2026, up 12% year-over-year and continuing to expand from $4.4 billion in the previous quarter. The data covers metal, polymer, and ceramic 3D printing, broken down by printers, materials, and services. By material: polymers remain the largest segment at $2.68 billion for the quarter (approximately +10.7% YoY); metal additive manufacturing reached $1.81 billion (up from $1.59 billion in the same period last year), growing approximately 13.8% year-over-year and leading in growth rate; service revenue totaled $2.5 billion (approximately +14% YoY). The tracking covers vendors including 3D Systems, Stratasys, HP, EOS, Bambu Lab, Nikon SLM Solutions, BLT, Farsoon, and Velo3D, segmented by technology, geography, and application. Scott Dunham, Executive Vice President of AM Research, described the first half of 2026 as a "tailwind period" for the industry: growth is in line with expectations, with some capital returning. However, he cautioned that interest rates suppressing capital expenditure could once again cause the market to "stall." Combining this with Wohlers' 2025 annual data (printing services account for 48% of global AM revenue, while printer sales grew only 3.6%), the 12% overall growth reflects a structural shift toward "buying parts and capacity rather than buying printers," with service-based revenue proving more resilient to capex fluctuations. Value for powder buyers: ① Metal AM is leading with 13.8% growth, corresponding to a continuously expanding base of metal powder consumption, with demand for major grades such as titanium alloys, superalloys, and stainless steels rising as service-based capacity scales up; ② The "rising share of services" means more batch production customers, and powder orders will shift from small R&D quantities to stable, predictable repeat purchases; ③ Monitor the transmission of interest rate pressures on downstream capex, and appropriately strengthen receivables management for service-based printing capacity customers.