3D Printing Metal Market to Expand at a CAGR of 25.7% During the Forecast Period 2022-2028

 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.

Comments

Post a Comment

Popular posts from this blog

Spinal Implants & Devices Market Forecast Analysis by Manufacturer, Types, Applications and Regions 2023 – 2030

  Spinal Implants & Devices Industry Overview The global  Spinal Implants & Devices Market  size is expected to reach USD 19.0 billion by 2030 and is expected to expand at a CAGR of 5.2% in the forecast period, from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing number of vehicular accidents is leading to increasing new cases of spinal cord injuries (SCIs). Other causes of SCIs include falls, violence, acts of violence, sports and recreation injuries, and diseases. Vehicular or road accidents and falls account for the majority of SCI cases. Fall-induced SCI is common among people aged 65 years and above. Acts of violence such as gunshot wounds or knife wounds account for around 12% of SCI cases. Sports activities such as diving in shallow water and impact sports lead to nearly 10% of SCIs. Cancer, osteoporosis, arthritis, and inflammation of the spinal cord also cause SCI. Based on National Spinal Cord Injury Statistical Center da...
Read more

Latin America Pharmaceutical Contract Manufacturing & Research Services Market Overview, Cost Structure Analysis and Forecast to 2030

  Latin America Pharmaceutical Contract Manufacturing & Research Services Industry Overview The  Latin America Pharmaceutical Contract Manufacturing & Research Services Market  size is expected to reach USD 40.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 7.5% from 2022 to 2030. The low cost of drug registration in Latin American countries and the economic growth are the key factors contributing to progress in this region. Moreover, factors such as the growing demand for generics, rising investments in R&D, the growing geriatric population, and the increasing burden of chronic diseases are responsible for market growth. The outbreak of COVID-19 has boosted the market growth as companies have increased investments in R&D and manufacturing to develop vaccines and drugs against the COVID-19. During the coronavirus outburst, the supply chains of biopharmaceutical companies remained robust...
Read more

Europe Orthopedic Navigation Systems Market - Global Industry Insights, Trends and Growth Opportunity Analysis to 2030

  Europe Orthopedic Navigation Systems Industry Overview The  Europe Orthopedic Navigation Systems Market  size is expected to reach USD 2,504.4 million by 2030, according to a new report published by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.8% from 2023 to 2030. The rising number of target diseases especially in the geriatric population is responsible for the rapid growth of the market. According to the Executive Agency for Health and Consumers, one in ten people in the geriatric population in Europe is suffering from osteoarthritis. Minimal invasion and low post-operative complications associated with computer-assisted surgery are anticipated to drive regional market growth over the forecast period. Moreover, the introduction of technologically advanced products is expected to induce demand for  orthopedic navigation systems . For instance, Orthokey Italia developed a new version of KiRA system integrating it with the iPad to ...
Read more