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Global 3D Printing Metals Market Analysis & Trends - Industry Forecast to 2028

Global 3D Printing Metals Market Analysis & Trends - Industry Forecast to 2028

  • July 2021
  • 180 pages
  • ID: 5730355
  • Format: PDF
  • Accuray Research LLP

Summary

Table of Contents

3D Printing Metals: Market Size

From $1,009.30 million in 2020, the global 3D Printing Metals market is projected to reach $8,438.00 million by 2028. Based on our analysis the market is expected to grow at a CAGR of 30.4% from 2020 - 2028 timeframe. Some of the prominent trends that the market is witnessing include penetration of 3D printing in emerging countries, demand for fuel-efficient aircraft, and growing applications in lightweight engineering products.

Global 3D Printing Metals Market: Market Dynamics

The 3D printing of metals has ostensibly opened a new paradigm in metal manufacturing. The potential to make materials with complex geometries and a unique set of physical and chemical characteristic is what broadly propels their popularity. Over the past couple of decades, incessant advances have been made in 3D printing technologies. Coupled with these, the advent of promising raw materials to aid machining with 3D printing has spurred the demand for 3D printing metals to the wide array of applications. 3D printing metals are thus, have shown extensive promise to a range of industries to make tooling and functional prototypes. The availability of 3D metal printers in multiple sizes and capabilities and mass customization of products with complex design and structure are fueling the growth of the 3D printing metals market across the globe. The recent technological trends that indicate the growth of advanced and better-quality products such as inconel powder is one of the key factors contributing to the growth of the market.

For instance, in 2017, NASA affirmed the effectual testing of an igniter made of different metal alloys. This bi-metallic capacity could lessen rocket motor expenses by 33% and fabricate time by one-half. In several applications, metals and metal combinations have been progressive in AM and 3D printing.

On the other hand, the high metal cost is likely to obstruct the profit boundaries. In addition, a reduction in waste generation during production will further boost the 3D printing metals market.

Impact of COVID-19 on 3D Printing Metals

The COVID-19 pandemic has an overall pessimistic impact on the 3D printing metals market worldwide. Though, the healthcare sector was the slightest impacted sector in the global 3D printing metals market owing to a surge in demand for medical equipment and devices for COVID-19 treatment. The use of 3D printing metals to manufacture medical equipment and personal protective equipment during the pandemic has created many opportunities for 3D printing companies and manufacturers globally. The temporary closures of the factories in major economies such as China, Southeast Asia, the UK, Germany, and others have impacted the production plants of the 3D technology industry and operations of suppliers resulting in short-term supply shortages. Manufacturing capacity was observed to be restored to normalized levels by the end of July 2020. The short-term disruptions in supply shortages have resulted in logistics challenges, including delays in delivering services to end-user industries. Such a situation is likely to affect the company’s ability to meet the 3D technology demand of the end customers.
By Form

Powder Segment Dominate the Market in 2019

Powder form dominated the market in 2019 with a volume share of 92.6%. The powder form of metal can form high-density products with complex geometries, which are used to manufacture engine parts and components. These metal particles are majorly available in a spherical shape and the powder form affects the density and mechanical properties of the final product and assures the consistency of layers. Thus, the increase in the demand for 3D printed products with high-density and high strength has increased the demand for powder form. Powders used for additive manufacturing are characterized by high packing density and spherical morphology, which grant good flow properties. Carpenter Technology Corporation is a prominent supplier of powders for AM technology. In July 2018, the company signed a contract with GE Additive to supply metal powder to GE Additive, along with other materials.

By Geography

Asia Pacific Region is Leading in the Global Market Place

The Asia Pacific region is anticipated to grow at the highest CAGR during the forecast timeframe, due to the espousal rate of 3D printing metal, the helpful government policies, and rising interest among the manufacturing companies of Asia Pacific. China is currently expected to be the largest market for 3D printing metals in the Asia Pacific region, owing to increasing demand for 3D printing metals from various industries, particularly from the automobile industry.

List of the Key Players Profiled in the Market Include:

• Voxeljet AG
• Materialise NV
• GKN Aerospace
• Renishaw PLC
• Sandvik AB
• CRS Holdings Inc
• 3D Systems Corporation
• General Electric Company
• Optomec, Inc
• SLM Solutions
• Proto Labs, Inc.
• ExOne GmbH
• Stratasys LTD.
• BASF 3D Printing Solutions GmbH
• Wipro 3D

List of the Regions/Countries Profiled in the Market Include:

North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others

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