Selbyville, Delaware, July 08, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the North America Additive Manufacturing with Metal Powders Market was estimated at $135 million in 2020 and is slated to exceed $770 million by 2030, registering a CAGR of 20.5% from 2021 to 2030. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
Rapid growth in a wide range of industries such as medical, aerospace, automotive, oil & gas, and energy in the region is anticipated to positively influence the additive manufacturing with metal powders market. Additionally, rapid urbanization and industrialization in the U.S. and Canada accompanied by increased usage of additive manufacturing in manufacturing of small custom parts and tool prototypes in various end-use industries will further drive the market growth for North America additive manufacturing with metal powders over the forecasted period.
Request for Sample Report: https://www.gminsights.com/request-sample/detail/5070
Others manufacturing technique of additive manufacturing with metal powders such as binder jetting process is projected to grow with CAGR of over 8.5% during the forecast timeframe. Increasing vehicle production in Mexico owing to a growing economy and surging demand for passenger vehicles should fuel product demand for the binder jetting process which in turn boost North America additive manufacturing with metal powders market growth.
The precious metal material segment is projected to grow with a CAGR of 10% over the forecast period as these materials enable gold silver, and platinum manufacturers to produce lightweight pieces of jewelry along with the minimal requirement of raw materials and reduce costs.
Other steel material segment is expected to reach around USD 24 million by 2030. Other steel includes tool steel, high-speed steel, and low alloy steel which offer high toughness and corrosion resistance properties after heat treatment, this will propel product demand in automotive and aerospace applications. The high-speed steel segment is expected to reach USD 8 million by 2030 owing to its properties such as high wear resistance, excellent toughness, and hardness at temperatures up to 500 degrees Celsius. Growing government investment towards the growth of the aerospace industry along with the well-established automotive sector in the U.S. and Canada is projected to propel the automotive and aerospace industry, this, in turn, propels the North America additive manufacturing with metal powders market growth.
The U.S. comprises a significant share in the North America additive manufacturing with metal powders market and is anticipated to grow with a CAGR of over 20% owing to high growth in the medical and automotive industry in the region.
Mexico additive manufacturing with metal powders market is anticipated to grow at a significant pace at over 14.5% CAGR up to 2030. Additive manufacturing with metal powders is used for the manufacturing of complex automotive parts which are lightweight and easy to manufacture. Moreover, increasing manufacturing of passenger vehicles and automotive parts in Mexico will drive product demand in turn stimulating North America additive manufacturing with metal powders market growth over the forecast period.
Request for customization of this report: https://www.gminsights.com/roc/5070
Major players in the additive manufacturing with metal powders market are focusing on strategic initiatives such as partnerships, collaboration, and mergers & acquisitions to cater to rising product demand primarily from aerospace and automotive industries. The key players in the North America additive manufacturing with metal powders industry include 3D Systems Corporation, Aerojet Rocketdyne, EOS GmbH, GE Additive, and ExOne.
About Global Market Insights Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.