New York, Feb. 27, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “3D Printing Powder Market Size, Demand, Industry Trends and Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Metal, Plastic, Ceramic, and Others), Application (Aerospace & Defense, Automotive, Medical, and Others), and Geography. The market is expected to grow from USD 1.11 billion in 2022 to USD 2.61 billion by 2028; it is estimated to register a CAGR of 15.2% from 2022 to 2028.
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Global 3D Printing Powder Market Report Scope, Segmentations, Regional & Country Scope:
| Market Size Value in | USD 1.11 billion in 2022 |
| Market Size Value by | USD 2.61 billion by 2028 |
| Growth rate | CAGR of 15.2% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Type, Application, and Geography |
| Global 3D Printing Powder Market Forecast to 2028 - Latest COVID-19 Analysis | https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00010200/ |
Growing Demand for 3D Printing Powder from Aerospace & Defense and Automotive Bolsters 3D Printing Powder Market Growth
3D printing powder is utilized in various additive manufacturing methods, with a majority of applications in aerospace, automotive, and defense industries. GE Aviation, EOS GmBH, 3D Systems Inc., and other major aircraft component manufacturers are developing products using 3D printing. 3D printing helps the aircraft construction sector save production time. Further, in automotive sector, the demand for lightweight 3D printed materials is increasing due to rising concerns about fuel efficiency and lowering the production cost of vehicles. The developments in automotive & aerospace sectors fuel the growth of the 3D printing powder market.
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3D Printing Powder: Competitive Landscape and Key Developments
Key players operating in the global 3D printing powder market include Nippon Gases, Erasteel, Stanford Advanced Materials, Höganäs AB, GKN Sinter Metals Engineering Gmbh, Sms Group Gmbh, Astro Alloys Inc, Evonik Industries AG, Sandvik AB, and Markforged. These market players focus on providing high-quality products to fulfill customer demands. They also focus on strategies such as investments in research and development activities and new product launches.
3D Printing Powder Market: Segmental Overview
In terms of type, the 3D printing powder market is segmented into metal, plastic, ceramic, and others. The plastic segment is expected to register the highest CAGR from 2022 to 2028. Plastic is the most popular material used in the 3D printing industry. Plastic is an organic polymer with a high molecular mass; it is flexible, firm, smooth, and biodegradable. Moreover, it is affordable; it has a shiny/matte texture and comes in a wide color range. Plastic materials are the best suitable materials for 3D printing when compared to metals because plastics utilize energy more efficiently than metals. Various products are manufactured using plastic, including lab prototypes, household items, and medical prosthetics. The plastic segment dominates the 3D printing powder market due to these benefits.
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Based on application, the 3D printing powder market is segmented into aerospace & defense, automotive, medical, and others. The growth of the automobile and aerospace industries can be attributed to the use of 3D printing powder in different components such as engines, carriers, rotor blades, and corrosion-resistant components. With the growing aerospace industry and its demand for 3D printing powder, particularly in North America and Europe, the demand for 3D printing powder with different metals, ceramics, plastics and glass powder is expected to increase. High cost and lead-time reductions, novel materials and unique design solutions, mass reduction of components through highly efficient and lightweight designs, and consolidation of multiple components for performance enhancement or risk management, e.g., through internal cooling features in thermally loaded components or by eliminating traditional joining processes, are all fundamental opportunities for metal additive manufacturing in aerospace applications. The medical industry is also dominating the market, especially the dental segment, as the use of 3D printing is increasing day to day. The decrease in technological price is leading to its use in several other industries. First-mover advantage in untapped regions and relatively low acquisition costs remain key driving forces in this application market.
North America dominated the 3D printing powder market in 2021. The increase in investments in the 3D printing sector by start-ups and government agencies in North America is anticipated to bolster market growth during the forecast period. Various industries in the region, such as aerospace, medical, architecture, defense, and automotive, have significantly increased their demand for 3D-printed products. Printing powders are extensively used courtesy of the rising demand across these productions. Various forms of powder adhesion are commonly utilized to 3D print, using a wide range of materials. These include bioplastics, nylon, ceramics, wax, bronze, cobalt chrome, stainless steel, and titanium. Additionally, increasing technological advancements in the 3D printing market enhanced the 3D printing powder market in 2021. Moreover, the decline in development costs is leading to a rise in the availability of powder-based 3D printing. Other applications, such as consumer durable goods, ornamentation, and accessories, are also expected to increase the demand for 3D printing powder.
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Key Developments
- In 2021, Stratasys acquired Xaar 3D to accelerate production-scale additive manufacturing capabilities.
- In 2021, ALTANA completed the acquisition of the TLS business with metal powders for 3D printing.
- In 2022, Stratasys announced the merger of subsidiary MakerBot with NPM Capital-backed Ultimaker to form a new entity under the name Ultimaker.
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