By form ( Powder, Filament), technology ( Powder Bed Fusion, Directed Energy Deposition, Binder Jetting, Metal Extrusion, Digital Light Projector, Multi-jet Fusion, Material Jetting, Others), metal type (Titanium, Nickel, Stainless Steel, Aluminum, Cobalt-chrome, Copper Silver Gold, Bronze, Others), end-use ( Aerospace & Defense, Automotive, Medical & Dental, Marine, Art & Sculpture, Jewelry, Architecture, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
3D printing metals market is expected to reach USD 10238 million by 2029 in the forecasted period of 2020-2029 with a substantial CAGR 29.46%. The development of the 3D printers out of the hysteria process was driven by fast developments in materiel and technology. The quality of materials, supplies, prototyping and even finished products are some of the key driver for the 3D printing metals market in the forecasted period.
Increasing demand is likely to increase product use for 3D metal printers, in particular in aerospace & defense applications. The significant cost & weight reduction provided by 3D printers is being made ever more aware by manufacturers. For example manufacturing is able to increase profitability, rising lead times and raise product quality by implementing production-grade presses.
3D printing metal is also referred to as metal additive manufacturing. This is a manufacturing method used to produce large and smaller structures. The invention of 3D printing metal allowed the designers to quickly design and develop complex structures that without the use of traditional manufacturing methods would have been difficult. 3D printing metal is a process in which manufacturing is carried out layer by layer and thus output precision is also elevated to a higher level. Most often, this method simply includes metal powder, which can be used to make different components and sections according to manufacturers ' specifications.
3D printing metals market Scope and Market Size
3D printing metals market has been segmented on the basis of form, technology, metal type, end-use.
- On the basis of source, the 3D printing metals market is segmented into powder, filament. In the source segment powder sub-segment hold the largest market share in the 3D printing metals market during the forecasted period. The increase in high strength and high density 3D printing metals product increase the use of powder sub-segment of source segment in the 3D printing metals market.
- Based on technology, 3D printing metals market is segmented into powder bed fusion, directed energy deposition, binder jetting, metal extrusion, digital light projector, multi-jet fusion, material jetting, others. In the technology segment power bed fusion sub-segment hold the largest market segment in the 3D printing metals market in the forecasted period. The use of power bed fusion technology in aerospace and automotive industry due to higher accuracy and fine detail increase the market share of the power bed fusion sub-segment in the technology segment in the 3D printing metals market in the forecasted period.
- On the basis of metal type, the 3D printing metals market is segmented into titanium, nickel, stainless steel, aluminum, cobalt-chrome, copper silver gold, bronze, others.
- Based on end use the 3D printing metals market is segmented into aerospace & defense, automotive, medical & dental, marine, art & sculpture, jewelry, architecture, others
Country Level Analysis of 3D printing metals market
- On the basis of region, the 3D printing metals market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.
- Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region.
- In the forecast period, the Asia Pacific 3D metal printing market will grow at the fastest CAGR rates. The biggest 3D-printing industry in Asia-Pacific is currently estimated in China. The developed North America and Europe metal printer and powder companies extend their footprint in the Asia-Pacific region through a range of growth strategies.
- The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact of sales channels are considered while provided forecast analysis of the country data.
Key Developments in the Market:
- In November 2019, Renishaw is team up with Sandvik Additive Manufacturing to qualify new additive manufacturing (AM) materials for production applications. It covers a broad range of metal powders, including modern, laser powder bed (LPBF) engineered alloy formulations that provide superior material properties.
- In October 2019, GE Additive has entered into a five-year cooperative research and development agreement (CRADA) with the US Department of Energy’s Oak Ridge National Laboratory (ORNL). The framework centers on industrialization-driven methods, products and applications and encourages the wider use of additive processing technologies. ORNL ordered its first Arcam EBM device in 2009 for the US Department's Manufacturing Demonstration Facility in Knoxville, Tennessee. The deal replaced the previous CRADA between ORNL and GE Additive Arcam EBM since 2012. ORNL and the Arcam EBM teams have been collaborating since then to build opportunities to take on electron beam melting technology (EBM) with industries across several American manufacturing sectors.
Competitive Analysis and 3D printing metals market Share Analysis:
3D printing metals market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of 3D printing metals market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
3D printing metals market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated, and global presence. 3D printing metals market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.
Key Market Competitors:
Few of the major competitors currently working in the 3D printing metals market are 3D Systems, Inc., CRS Holdings Inc., EOS, Renishaw plc., Sandvik AB;, Optomec, Inc.,, voxeljet AG, Melrose Industries PLC, GENERAL ELECTRIC, WIPRO ENTERPRISES PVT. LTD., INCREDIBLE AM PVT LTD., Pollen AM inc., TRUMPF, Titomic, Höganäs AB, ExOne, Materialise, SLM Solutions and many others.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved