Wilmington, Delaware, United States, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global 3D printing powder market was projected to attain US$ 773.9 million in 2022. It is anticipated to register a 20.3% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 4.1 billion by 2031.
Computer models are converted into physical objects through 3D printing. Due to its many benefits, which include sustainability, efficiency, flexibility, and customisation, the technology is used in a variety of industries, including the automotive, aerospace, and medical sectors. 3D printing is used in the automobile industry for design and prototype.
3D printing is most frequently utilized in prototyping. A real product or assembly can be prototyped using this method. In the automobile industry, it results in more effective and efficient product development, thus boosting the global growth of the market.
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Key Findings of the Market Report
- Layer by layer, powdered materials are used in powder-based 3D printers to produce three-dimensional things.
- 3D printing powders are substances used in various additive manufacturing methods.
- Powders used in 3D printing are frequently made of plastics, metals, and ceramics.
- For usage in the majority of 3D printing techniques that yield metallic objects, metal powders are ground into tiny particles.
- Several techniques, including solid-state reduction, milling, electrolysis, chemical reactions, and atomization, are used to make metal powders.
- A lot of nickel and cobalt are used to make powder for 3D printing.
- The excellent corrosion resistance, strength, and durability of stainless steel make it a preferred material for 3D printing powders.
Market Trends for 3D Printing Powder
- Significant investment in 3D printing technology has resulted from its increasing use. Lithoz GmbH, a supplier of high-performance ceramics for additive manufacturing, and the United States Department of Energy's (DOE) Oak Ridge National Laboratory partnered in December 2023 to further investigate the processing as well as additive manufacturing of non-oxide ceramics using Lithoz's 3D printing technology.
- The growth of the 3D printing powder market is being aided by research and development in materials used in 3D printing. During the AM Conclave conference in Abu Dhabi in September 2023, the Technology Innovation Institute (TII) unveiled AMALLOY, a new aluminum alloy powder that is unique and particularly designed for additive manufacturing. AMALLOY is intended for use in laser beam powder bed fusion systems.
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Global Market for 3D Printing Powder: Regional Outlook
Various reasons are propelling the growth of the 3D printing powder market throughout the region. These are:
- In 2022, North America held the majority of the share. The dynamics of the regional market are being driven by an increase in 3D printing investment. The non-partisan, non-profit research organization ASTRO America revealed fresh plans in August 2023 to create an investment fund for small company 3D printing development. The program is centered on making investments throughout the entire military ecosystem, utilizing sophisticated manufacturing processes to provide novel capabilities.
Global 3D Printing Powder Market: Key Players
To maintain their competitiveness in the market, producers of 3D printing powder are growing their manufacturing capacities. GE declared in March 2023 that it will make over US$ 450 million in investments in its current production locations by the year 2023.
About US$ 16 million will go into additive manufacturing in these initiatives. Suppliers are implementing eco-friendly production techniques to satisfy clients that care about the environment. In October 2023, GKN Aerospace and additive manufacturing startup IperionX Limited collaborated to create 100% recycled titanium powder utilizing GKN Aerospace's scrap titanium feedstock.
Major manufacturers of powder for 3D printing include GE Additive, Arkema, Carpenter Technology Corporation, Erasteel, GKN Powder Metallurgy, Hoganas AB, Sandvik AB, and Metalysis. The following companies are well-known participants in the global 3D printing powder market:
- GE Additive
- Arkema
- Carpenter Technology Corporation
- Erasteel
- GKN Powder Metallurgy
- Hoganas AB
- Sandvik AB
- Metalysis
Some key developments by the players in this market are:
- IperionX Limited obtained an agreement from the US Export-Import Bank in October 2023 for a preliminary amount of US$ 11.5 million for the construction of IperionX's titanium production facility in Halifax County, Virginia.
- The first order for titanium powder was received by PyroGenesis Canada Inc., an advanced materials business that specializes in metal powders for additive manufacturing, from an unnamed United States client in June 2023.
Global 3D Printing Powder Market Segmentation
Product
- Plastics
- Metals
- Stainless Steel
- Cobalt
- Nickel
- Others
- Ceramics
- Others
Application
- Automotive
- Aerospace
- Medical
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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