Vancouver, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The global 3D printing metal market is projected to be worth USD 20,029.10 Million by 2032, according to a current analysis by Emergen Research. The 3D printing metal market is observing an accelerated growth rate attributed to its increasing demand from the aerospace & defense industry. The use of 3D printing of metal parts finds usage in the production of intricate and lightweight components and structures to provide improved strength and durability to the aircraft and increased fuel efficiency. GE Additive, a GE division, GE has been deploying 3D printing to produce Advanced Turboprop for aircraft and has achieved a reduction in engine parts from 855 to just 12. The Cessna Denali aircraft equipped with 3D manufactured Advanced Turboprop is likely to debut in 2020.
3D metal printing is considered a sustainable production method primarily owing to its ability to reduce waste generation and being energy-efficient significantly. 3D printing uses only the required amount of material to add layer by layer to produce printed structures ensuring wastage of metals to a minimum. For instance, aircraft manufacturers reject about 90.0% of the material, which won’t be required for future purposes. Thus, 3D printing metal plays a vital in substantial cost saving by the manufacturers.
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Scope of Research
| Report Details | Outcome |
| Market size value in 2019 | USD 758.3 million |
| CAGR (2020 - 2027) | 28.4% |
| Revenue forecast in 2032 | USD 20,029.10 million |
| Base year for estimation | 2019 |
| Historical data | 2016 - 2018 |
| Forecast period | 2020 - 2027 |
| Quantitative units | Revenue in USD Millions, and CAGR from 2020 to 2027 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Form, Metal type, technology, industry vertical, region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | 3D Systems Corporation, ExOne GmbH, Hoganas AB, Arcam AB, Materialise NV, Voxel Jet AG, GKN PLC, Equispheres, Renishaw PLC, and Carpenter Technology Corporation |
| Customization scope | 10 hrs of free customization and expert consultation |
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MAJOR COMPANIES and Market Share Analysis
The leading players in the 3D printing metal market are equipped with enhanced production facilities and are involved in various R&D activities. A few leading players in the 3D printing metal market include:
- 3D Systems Corporation
- ExOne GmbH
- Hoganas AB
- Arcam AB
- Materialise NV
- Voxel Jet AG
- GKN PLC
- Equispheres
- Renishaw PLC
- Carpenter Technology Corporation
Strategic Development
In September 2020, ExOne announced the InnoventPro 3D printer launch, which provides two novel build sizes for 3/5 liter and printing rate, reaching 700 cc/hour for the metal, composite, and ceramic parts manufacturer.
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Key Highlights From The Report
- 3D printing metal filaments offer the benefits of shape fabrication and 3D printing simultaneously with two or more metal.
- Nickel and nickel-based alloys substantially improve the produced parts' strength and corrosion resistivity and offer enhanced aesthetic appeal. Automotive part manufacturers nickel alloys for engine component printing.
- Binder Jetting is about ten times more cost-effective compared to 3D printing metal processes. Also, the build size achieved by this technology is much large, and the printing of parts doesn’t require any support during the process, allowing the realization of intricate designs.
- The market in the Asia Pacific region is projected to grow at the fastest rate of 30.3% in the forecast period attributed to the presence of leading manufacturing firms, especially automotive firms, supportive regulations, several space launches by renowned space agencies like ISRO, and increased investments in R&D for 3D printing.
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Emergen Research has segmented the global 3D printing metal market on the basis of form, metal type, technology, industry vertical, and region:
- Form Outlook (Revenue, USD Billion; 2017-2027)
- Filament
- Powder
- Metal Type Outlook (Revenue, USD Billion; 2017-2027)
- Titanium
- Nickel
- Aluminum
- Stainless Steel
- Other
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- Powder Bed Fusion
- Directed Energy Deposition
- Binder Jetting
- Metal Extrusion
- Others
- Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
- Aerospace & Defense
- Automotive
- Medical & Dental
- Marine
- Others
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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