CROZET, Va., April 07, 2020 (GLOBE NEWSWIRE) -- SmarTech Analysis has published its latest report on metal additive manufacturing service bureaus that analyzes and forecasts opportunities in the sector. The new report titled, “The Market for Metal Additive Manufacturing Services: 2020-2029” looks at the needs that metal additive manufacturing service bureaus can fulfill during the manufacturing shortage that COVID-19 has created as well as the current and long-term opportunity that the current geopolitical situation is creating.
Additional details of the study including a TOC and excerpt are available at https://www.smartechanalysis.com/reports/the-market-for-metal-additive-manufacturing-services-2020-2029/
The firm will be providing purchasers an update to forecasting contained within the report that will be issued in June of 2020 to provide new guidance on market direction and expected performance.
About the Report
This report is the follow-on to SmarTech’s early 2019 analysis and forecast on the opportunities for metal AM service bureaus. It updates SmarTech’s analysis and market projections and also extends the coverage to include a broader range of services and profiles of leading AM metal service firms. These new bureau services that we discuss are designed not only to provide new revenue streams but also offer points of differentiation in the metal manufacturing marketplace.
In addition to the updated projections of the core manufacturing services that were projected in our 2019 report, this new report also provides ten-year forecasts of the value-added services listed above. In addition, we are including a new end-user industry – consumer products — in our analysis of metal AM service customers as well as adding five new service provider company profiles to the report. The report also assesses the impact on the service bureau business of the dramatic shift of AM to become a fully-fledged industrial manufacturing process.
Companies mentioned include: 3D Systems, BeamIT, Burloak Technologies, Carpenter, DM3D, ExOne, FIT, GE Additive, Henkel, Hoganas, HP, i3DMFG, Metal Point Advanced Manufacturing, Materialise, MTI, Oerlikon, Protolabs, Renishaw, Sculpteo, Shining3D, Sintavia, Siemens, Solid Concepts, Stratasys, Thyssenkrupp, voestalpine, Wipro 3D3D Hubs, Hitch3DPrint and Xometry.
From the Report
To date, AM service bureaus have not been very profitable, but this will obviously change as manufacturers turn to bureaus to solve both short-term disruptions during a time of pandemic and as they re-think offshoring from China afterwards. As supply chains are increasingly disrupted, metal service bureau providers are a means for US and European manufacturers to bring fabrication closer to home or reinforce supply chains.
In 2020, prior to COVID-19 disruption, the worldwide services bureau was projected to purchase nearly 500 metal printers and nearly double by 2023 with metals used in additive manufacturing were also projected to follow a similar growth curve. While SmarTech’s numbers on printer and powder shipments are expected to change we can say for certain that materials demand within the service bureau segment will continue to remain strong.
While much of the attention within metal service bureaus are currently focused on industrial applications, the report reminds us that the fastest growing market for metal service bureaus was actually the medical sector, which was to account for $1.5 billion in AM manufacturing services by 2025. Medical products that are already being printed by bureaus included orthopedic devices and implants but the shift to providing other parts and outputs for PPE and patient support has garnered tremendous attention.
About SmarTech Analysis:
Since 2013, SmarTech Publishing has published reports on all the important revenue opportunities in the 3D printing/additive manufacturing sector and is considered the leading industry analyst firm providing coverage of this sector. SmarTech analysis and data drives strategy development in the additive industry and has been adopted and presented by many of the industry’s largest firms.
For more details on our company go to www.smartechpublishing.com
Contact:
Robert Nolan
CMO/CBDO
SmarTech Publishing
(804) 938-0030
rob@smartechpublishing.com