Wilmington, Delaware, United States, July 27, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The worldwide metal powders for additive manufacturing market was estimated to be worth US$ 466.3 million in 2022. It is expected to grow at a CAGR of 21.5% from 2023 to 2031, reaching US$ 2.7 billion by the end of 2031.
Additive manufacturing, also known as 3D printing, has established itself as a game-changing technology that allows for the production of complicated components with unprecedented design freedom. This feature has presented new options for companies looking to improve their product's effectiveness, productivity, and flexibility.
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Competitive Landscape
Transparency Market Research has profiled the following players in its global metal powders for additive manufacturing market report:
Sandvik AB - Renishaw plc. - Praxair Technology, Inc. - BÖHLER Edelstahl GmbH & Co KG - Aubert & Duva - ATI - RIO Tinto - Carpenter Technology Corporation - Alcoa Inc. - GKN PLC. - Miba AG - Metaldyne Performance Group - Hoganas AB - Hitachi Chemicals Co. Ltd.
The worldwide metal powders for additive manufacturing business are extremely solidified, with a few large-scale vendors owning the majority of the market. Most businesses are keeping up with the current metal powders for additive manufacturing market developments and investing heavily in extensive research and development operations, especially to make sustainable goods. Product range expansion and joint ventures are major approaches used by renowned companies.
- Mitsubishi Power, a part of Mitsubishi Heavy Industries (MHI) Group, signed a technological licensing contract with Aubert & Duval, a metal processing company in France, in November 2020, for the formulation and production of 3D printed metal powders.
The aerospace and automobile sectors, in specific, are driving a rise in demand for lightweight components. Companies are constantly looking for ways to lower the weight of their cars and aircraft while maintaining structural integrity as the focus on fuel effectiveness and environmental consciousness grows.Metal powders like aluminum and titanium alloys have shown to be suitable options for 3D printing lightweight items with high strength-to-weight proportions. Metal powders are revolutionizing the manufacturing of medical implants and prostheses in the medical sector. Patient-specific medical implants can be 3D produced using metal additive production, providing an accurate fit and improving the results for patients.
Therefore, the increased need for lightweight and complicated parts in various industries is expected to drive metal powders for additive manufacturing sales in the coming years. Ongoing developments
in additive manufacturing technologies are broadening the spectrum of metal powders out there. Furthermore, producers and material researchers are continually optimizing powder properties including particle shape distribution, flow capacity, and chemical stability in order to improve reliability and efficiency.
Key Takeaways from the Market Report
- According to metal powders for additive manufacturing market trends, North America held 28% of the worldwide market in 2022.
- Asia Pacific held 42% of the global market share in terms of value in 2022.
- The stainless steel segment held the greatest worldwide Metal Powders for Additive Manufacturing revenue share of 61% in 2022.
- The market in the United States is projected to grow at a CAGR of roughly 21% throughout the projected period.
- Europe held a 20% share of the worldwide market in 2022.
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Metal Powders for Additive Manufacturing Market: Prominent Drivers and Trends
- The increasing adoption of additive manufacturing techniques in a variety of sectors has increased the demand for high-quality, customized metal powders. To fulfil these changing demands, significant advancement has been made in optimizing metal powder production procedures.
- One important area of progress is the emergence of atomization procedures. Atomization is a popular method for creating metal powders that involve the quick solidification of molten metal using techniques including gas atomization and water atomization. Modern atomization technology advancements have culminated in finer and more consistent metal powders with regulated particle size dispersion.
- Powder management and recycling innovations are helping to boost the ecological viability and cost-effectiveness of additive manufacturing. Powder recovery and reuse systems that are efficient reduce waste, cost of materials, and adverse environmental effects.
Metal Powders for Additive Manufacturing Market: Regional Analysis
- According to the most recent regional metal Powders for additive manufacturing market study, the Asia Pacific region's expanding aerospace and automobile sectors are driving up consumption of compact and high-performance items. Metal additive manufacturing allows for the production of complicated parts, and metal powders play an important role in meeting the requirements of these businesses.
- Europe has a strong manufacturing industry, and the use of additive manufacturing technology is growing. Metal powders are critical for sophisticated uses in a variety of industries, such as automobiles, aerospace, healthcare, and industrial. This contributes to the region's dominant metal powders for additive manufacturing market revenue.
- Metal additive manufacturing is in tremendous demand in North America's aviation and medical sectors. Metal powders used in 3D printing allow for the fabrication of lightweight and complicated components, creating the potential for additive manufacturing powder distributors in the region.
Metal Powders for Additive Manufacturing Market: Key Segments
- Material
- Stainless Steel
- Austenitic stainless steels
- Duplex and special stainless steels
- Ferritic stainless steels
- Martensitic stainless steels
- Alloys
- Cobalt alloys
- Copper alloys
- Titanium alloys
- Nickel alloys
- Super alloys
- Others
- Tool steels,
- High-speed steels
- Low-alloy steels
- Stainless Steel
- Manufacturing Technique
- Powder bed
- Electron beam melting (EBM)
- Direct metal laser sintering (DMLS)
- Selective laser melting (SLM)
- Selective laser sintering (SLS)
- Blown powder
- Direct laser deposition (DLD)
- Laser engineering net shapes (LENS)
- Direct metal deposition (DMD)
- Laser metal deposition (LMD)
- Others
- Powder bed
- Application
- 3D Printing
- Rapid Prototyping (RP)
- Direct Digital Manufacturing (DDM)
- Others
- Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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