3D Printing Metal Industry Overview
The global 3D printing metal market size is expected to reach USD 2.36 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 25.7% over the forecast period. The market growth is attributable to the cost-effectiveness of 3D printed parts, reduced lead times, and the development of complex parts during production.
The potential cost savings is the significant factor stimulating the growth of the market in the aerospace & defense end-use sector. For instance, in November 2018, Lockheed Martin, a U.S.-based global aerospace & defense company, announced that due to 3-dimensional printed parts, there was a reduction in the price of its F-35 Full Mission Simulator (FMS) unit and led to the savings of nearly USD 45.0 million.
Metal 3-dimensional printing has the ability to fabricate lightweight but strong structures, produce complex designs, and maintain small volumes. These factors extend its application scope in various end-use industries, such as medical, aerospace, automotive, and consumer products. The 3-dimensional printing technologies are subject to challenges including the consistency of quality, limited multi-material printing capabilities, narrow range of materials, high material costs, size, and scalability.
3D Printing Metal Market Segmentation
Grand View Research has segmented the global 3D printing metal market on the basis of form, product, application, and region:
Based on the Form Insights, the market is segmented into Powder and Filament.
- The powder form segment accounted for the largest revenue share of more than 94% in 2020 of the global market. Metal powder particles have a number of prominent parameters that not only impact the additive build process but also affect the properties of the finished component.
- The Filaments are typically a mix of metal and polymer, wherein the metal is coated with a layer of polymer including PLA and ABS. The producers are working on R&D to develop cost-effective technologies for printing with filament in comparison with the selective laser melting process. This is anticipated to push the demand for filaments over the forecast period.
Based on the Product Insights, the market is segmented into Titanium, Nickel, Stainless Steel, Aluminum and Others.
- The titanium product segment accounted for the highest revenue share of over 41% in 2020 and is anticipated to grow at the fastest CAGR over the forecast period.
- Stainless steel is projected to have significant demand over the coming years owing to its high potential in various industries as it has low carbon and high chromium content. Parts printed using stainless steel are lightweight, strong, and durable.
Based on the Application Insights, the market is segmented into Aerospace & Defense, Automotive, Medical & Dental and Others.
- Aerospace & defense accounted for the largest volume share of over 40% in 2020. The ability to manufacture complex components in less time is forcing aerospace & defense players to invest in 3D printing.
- The medical & dental application segment is expected to register the fastest growth of 28.7% in terms of volume, across the forecast period.3D printing is used to produce prosthetic limbs, implants, forceps, and hemostats in the medical industry.
3D Printing Metal Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile
The global market is currently in the growth stage and holds huge potential owing to its rising penetration and adoption across different industries. The market is also witnessing rising investments from small companies. With the rising competition, merger & acquisition activities in the market are likely to increase over the forecast period.
Some prominent players in the global 3D Printing Metal market include
- Arcam AB
- ExOne GmbH
- Carpenter Technology Corporation
- Renishaw PLC
- Materialise NV
- 3D Systems Corporation
- Voxeljet AG
- Sandvik AB
- Hoganas AB
- GKN PLC
Order a free sample PDF of the 3D Printing Metal Market Intelligence Study, published by Grand View Research.
May 06, 2019: Global 3D Printing Metal Market is estimated to grow at a substantial CAGR in the forecast period as the scope, product types, and its applications are increasing across the globe.
3D Printing Metal Market may be explored by form, end users and geography.
It mainly used in biomedical applications as dental implants and orthopedic as well as artificial hip and knee replacement operations.
In addition, Titanium metal offers greater toughness in terms of accessibility, affordability and speed, and thus chosen in metal 3D printing actions for crucial applications.3D Printing Metal Market may be analyzed by end user as Medical & Dental, Aerospace & Defense, Automotive, and Others.
The development of 3D Printing Metal is mainly ascribed to the massive demand for 3D printing metals from airbus industrial businesses and engine constituent producers.
Owing to its high accuracy, metal 3D printing with huge print box has been used to print higher aircraft componentsTo Get Full Report Click Here @ https://www.radiantinsights.com/research/global-3d-printing-metal-market-professional-survey-report-2018 3D Printing Metal Market is categorized based on geography into North America, Latin America, Japan, Middle East and Africa, Western Europe, Asia Pacific, and Eastern Europe.
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