Additive manufacturing (AM) or three-dimensional (3D) printing is an emerging technology shaping the manufacturing industry, offering performance improvement opportunities for society and the economy. AM supports the circular economy (CE) by enabling sustainable consumption and production. This study identifies factors of performance expectancy, effort expectancy, facilitating conditions, social influence, environmental sustainability, social sustainability, technical efficacy, and government support to determine the adoption of AM with survey data collected from 487 managers of manufacturing enterprises. The study proposed a theoretical framework that integrates the Unified Theory of Acceptance and Use of Technology (UTAUT) and the Technology-Organization-Environment (TOE), providing valuable insight that can guide future research and inform decision-making in the industry. The study revealed that identified critical success factors have significantly influenced AM implementation. Furthermore, how AM adoption supports the implementation of CE, a new production and consumption model promoting sustainable growth. The study guides the managers in the connection between the AM and CE models and suggests implementing CE practices as an integral part of their AM adoption strategy.