New York, US, June 25, 2021 (GLOBE NEWSWIRE) -- 3D Printing Metals Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “3D Printing Metals Market Information by Material, Form, Technology, Application, and Region - Forecast till 2027”, the market is estimated to reach USD 6 Billion by 2027 at 29% CAGR.
Market Dynamics
Metal 3D printing has ushered in a new era of metal manufacturing. Their ability to create goods with complex geometries and unique physical and chemical properties is typically what draws people to them. The increasing demand for high-precision engine parts with complicated architectures in the aerospace and defense industries has increased the demand for 3D printing metals. The availability of new materials/metals for prototyping, rising demand for prosthetic and dental implants, and increasing investments in new product growth are driving the market for 3D printing metals in the car, medical & dental, and other sectors. The growing application of 3D printing metals in the aerospace industry is a key driver driving market growth over the forecast period. Increased penetration of metal 3D printing is expected to be a key factor driving the market due to greater design stability, low waste, and cost-efficiency in the overall production environment. A new range of alloys that can be 3D printed has significantly extended the potential of 3D metal printing for very scientific applications over the last few years. Efforts to make advanced 3D printers more affordable through technology may be one of the biggest enablers of the industry's future growth in the coming years.
Commercialization has been difficult due to the needs of end-use industries in 3D printing metals. The high cost considerations of the technique are one of the factors slowing their adoption among producers. The 3D printing process has disadvantages even when it comes to producing very large parts. In contrast, the feasibility of 3D printing for large-scale production continues to be a far-fetched concept for engineers, at least for the time being. As a result, powder manufacturers are expected to benefit from favorable growth prospects, as demand is expected to increase rapidly at least until 2030. Industry players' primary strategy is to create new products through significant R&D investments.
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Competitive Dashboard
Acquisitions, new product launches, and expansion are among the strategic growth strategies pursued by the players. Acquisitions, new product launches, contracts, and alliances are among the strategies used by these firms to expand their businesses into untapped and future markets. To strengthen their place in the 3D printing metals industry, they have introduced a variety of organic and inorganic growth techniques.
Some of the Most Renowned Manufacturers of 3D Printing Metals in the worldwide Market are:
- voxeljet AG (Germany)
- Renishaw plc (UK)
- 3D Systems, Inc (US)
- GKN Aerospace (UK)
- CRS Holdings Inc (Carpenter Technology Corporation) (US)
- Sandvik AB (Sweden)
- EOS GmbH (Germany)
- Materialise (Belgium)
- Concept Laser GmbH (Germany)
- Optomec, Inc (US)
- SLM Solutions (Germany)
Browse In-depth Market Research Report (299 Pages) on 3D Printing Metals: https://www.marketresearchfuture.com/reports/3d-printing-metal-market-1834
Market Segmentation
Based on the material segment, the global market for 3D printing metals has been segmented into titanium, nickel, aluminium, stainless steel, Inconel and others. The titanium content segment is expected to grow at a rate of 28.42 percent over the next five years. Due to rising applications in the aerospace and automotive industries, nickel and aluminum products are expected to see exceptional development.
By Type, the market is divided into powder and filament. Due to its widespread usage in end-use industries through technologies such as binder jetting, material jetting, and sheet lamination, the powder segment is expected to dominate the global market in the future.
The Technology section was categorised into sheet lamination, binder jetting, material extrusion, material jetting, vat photopolymerization, and others. Between the assessment duration and the material extrusion portion, the CAGR is expected to be 30.64 percent.
By Application, the global 3D printing metals market has been listed as aerospace & defence, automobile, healthcare, consumer electronics, building & construction, and others. Owing to increased growth in recent years, the aerospace and defense segment held the largest market share and is expected to expand at a substantial CAGR of 26.93 percent over the forecast period. Over the review period, the healthcare sector is projected to grow at the fastest pace, with a CAGR of 29.94 percent.
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Regional Overview
The global market's geographical overview was conducted in four major regions: Asia Pacific, North America, Europe, and the rest of the world.
With a significant share of the global 3D printing metals market, Asia-Pacific is expected to be the fastest growing market in the forecast timeframe. During the forecast period, increased investment in the building and construction, healthcare, and consumer electronics industries in the area is expected to drive regional market growth. China is the world's largest manufacturer and purchaser of metals for 3D printing. In comparison to other regions, the demand for 3D printing metals in Asia-Pacific is relatively large. The emergence of developing countries such as India and China has aided the growth of the Asia-Pacific market. The key reason for the rapid growth of the 3D printing metals industry is that these countries are rapidly growing in terms of population and economy, resulting in increased per capita consumption.
Europe was the second-largest regional market in 2019. In the coming years, favorable government policies across Europe are expected to fuel business demand. Increased funding for research and development, as well as technological standardisation, is expected to boost the sector's growth. Government policies that favor business growth are expected to fuel market growth in the coming years across Europe. Increased funding for research and development, as well as the standardization of technology, are expected to bolster the industry's growth.
Because of technological advancements in different fields, the North American industry also accounts for a significant portion of the global market. The market is growing due to the rising use of 3D printing in various applications such as healthcare, industrial, aerospace, defense, automobiles, architecture, and consumer goods. The production of prosthetic parts and medical instruments using 3D printing technology has resulted from technological advancements in the healthcare industry. Metal 3D printing is also used in the aerospace and automotive industries in the area to produce lightweight parts and instruments.
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