New York, USA, Sept. 28, 2022 (GLOBE NEWSWIRE) -- The Global 3D Printing Metals Market Size Was Valued At USD 699.2 Mn In 2021. The Market Is Projected To Grow USD 2034.4 Mn In 2030, At A CAGR Of 24.6 %. As per the latest research report published by Spherical Insights & Consulting.
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Market expansion has been aided by an increase in commercial product production. In addition, the growth of the aerospace industry is a major driver of the 3D printing metals market. Plastics used in 3D printing are in high demand in electric devices and the construction of three-dimensional solid things, which helps to increase efficiency and aesthetics while also driving the global market growth. Furthermore, these polymers offer desirable properties such as high density and permeability, which contribute to their increased global demand. Variations in raw material costs used in the production of 3D printing metals are likely to impede market expansion during the projection period. Automotive, medical, electronics, aerospace, and defense are among the end-user industries that are expected to fuel market expansion. Metals for 3D printing are in great demand due to technical improvements in the automotive industry. Photopolymer 3D printing has enabled the creation of cost-effective, innovative, stronger, lighter, and safer goods and parts. 3D printing was widely used by OEMs for rapid prototyping.
The metal processing business may be entering a new age as 3D printing of metals becomes more prevalent. These items are appealing due to their physicochemical qualities and complex shapes. The demand for high-precision parts with complicated structures in the aerospace and defense industries has fueled market expansion for 3D printing metals. Three causes drive 3D printed metals in industries like automotive, medical, and dental. Higher investment in new goods, new materials, and metals for prototyping and increased demand for implants and prostheses are also expected. During the projection period, three-dimensional printing is likely to gain substantial traction in the aviation industry. The rising popularity of metal 3D printing, which has advantages over traditional production processes such as more design stability, less waste, and more competitive pricing, could be a significant market driver.
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Additive manufacturing (AM) is often used to make scalpel handles, clamps, forceps, hemostats, and prosthetic limbs. Several companies are using AM methods in healthcare. For example, 3D Systems Healthcare is expected to collaborate with the medical industry to promote the adoption of additive manufacturing in the medical and dental industries. The change from rapid prototyping to production utilizing 3D printing is likely to help market participants. More than half of 3D hubs showed they use 3D printing to create functional end-use things, according to a recent poll.
The titanium segment has dominated the market share of the global 3D printing metals market in 2020 owing to the rising usage of titanium-based products in different verticals due to its versatile properties such as lightweight, non-corrosion, and high-strength, toughness amongst others. The powder held the largest market share in 2020 of the global 3D printing metals market attributing to the demand is expected to be driven by strong properties combined with a surge in demand from many application industries such as food packaging, dinnerware, upholstery, and disposable clothes. The healthcare segment is dominating the market share in 2020 owing to the product demand in medical applications being likely to be boosted by improved technology, favorable government backing, and quick product development. North America region is dominating the market share of the global 3D Printing Metals market owing to the rising IoT applications and technological developments along with the presence of major players. The industry 4.0 drive to increase industrial productivity of the global 3d-printing metals market.
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Browse key industry insights spread across 220 pages with 121 market data tables and figures & charts from the report “Global 3D Printing Metals Market Size, Share, And COVID-19 Impact Analysis, By Metal Type (Titanium, Nickel, Stainless Steel, Aluminum & Others), By Form (Filament, Ink, Powder), By Vertical (Healthcare, Aerospace & Defense, Automotive, Heavy Industry, Manufacturing, Consumer Goods, Electronics & Electrical, & Others), And By Region (North America, Europe, Asia-Pacific, South America, Middle East, And Africa) Analysis And Forecast 2021 – 2030” in detail along with the table of contents
Covered Key Players: 3D Systems Corporation, Arcam AB, ExOne GmbH, Carpenter Technology Corp, Renishaw PLC, Proto Labs, Inc, Honeywell, Materialise NV, 3D Systems Corp, Voxeljet AG, GE, Sandvik AB, Hoganas AB, GKN PLC and others.
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