Future Opportunities for The 3d printing metal Market
Author : monika kale | Published On : 24 Sep 2021
The global 3D printing metal market size is expected to reach USD 5.65 billion by 2028 according to a new study by Polaris Market Research. The report “3D Printing Metals Market Share, Size, Trends, Industry Analysis Report, By Type (Aluminum, Nickel, Titanium, Stainless Steel); By Technology (Metal Extrusion, Powder Bed Fusion, Binder Jetting, Sheet Lamination, Directed Energy Deposition); By Form; By End-Use; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The industry is projected to witness significant growth over the forecast period. Wide choice of materials, high resolution, shortened development cycles, highly accurate and durable outputs are some factors driving the demand. Alloys are increasingly being used in the aerospace, automotive, and healthcare sectors for the manufacturing of finished products and prototypes, spare parts, and surgical implants among others.
The ease of using the metals, along with reduced errors, higher design flexibility, efficient construction of complex structures, and reduced carbon footprint are some factors expected to boost the market growth during the forecast period.
The demand for titanium has increased owing to its high strength, biocompatibility, high corrosion resistance, and superior temperature resistance. Titanium is increasingly being used in the aerospace and defense industry for prototyping, and manufacturing of spare parts and tools owing to its high strength to weight ratio. Other applications of titanium include automotive, consumer electronics, and sports equipment among others.
The market is segmented into metal extrusion, powder bed fusion, binder jetting, sheet lamination, directed energy deposition, and others based on technology. The powder bed fusion segment dominated the global market in 2020. This technology is widely used for the development of visual models and prototypes. It makes use of a laser or electron beam for the fusion of metal powder. Powder bed fusion works with a wide range of metals such as titanium, stainless steel, aluminum, cobalt chrome, and copper among others.
The different forms of printing alloys include filament, powder, and others. The powder segment dominated the global market in 2020. The demand for printing powders is high owing to the increasing need to reduce costs and time associated with product manufacturing. 3D printing powder alloys are used in wide applications such as automotive, healthcare, and consumer goods among others.
On the basis of end-user, the market is segmented into healthcare, construction, automotive, consumer electronics, aerospace and defense, and others. The demand for 3D printing metals has increased in the healthcare sector over the years. 3D printing metals such as stainless steel, titanium, and aluminum are used in the healthcare industry to manufacture medical devices, prosthetics, aiding devices, and other healthcare products. The necessity to manufacture custom and personalized medical products according to patient requirements boosts the market growth.
Asia Pacific is expected to experience significant growth during the forecast period. Various government investments in printing projects increased expenditure in research and development, and technological advancements are factors offering growth opportunities in the market. Economic development in countries of Asia Pacific coupled with the rapid expansion of several industries in this region is expected to contribute towards market growth. Small enterprises and educational institutes are also increasingly adopting this printing technology to cope with changing market demands and customer requirements.
Owing to technological advancements, companies are providing comprehensive solutions to cater to the customized needs of the clients and improve market share. Broadening of the product portfolio is another trend that is visible in the industry. Some of the major market participants include Carpenter Technology Corporation, The ExOne Company, Voxeljet AG, Proto Labs, Inc., 3D Systems Corporation, Hoganas AB, Concept Laser GmbH, Arcam AB, Stratasys LTD., GKN Aerospace, Wipro 3D, BASF 3D Printing Solutions GmbH, Renishaw PLC, SLM Solutions Group AG, Sandvik AB, and General Electric Company.
Polaris Market research has segmented the 3D printing metal market report on the basis of type, technology, form, end-use, and region:
3D Printing Metals Type Outlook (Revenue, USD Million, 2016 – 2028)
- Stainless Steel
3D Printing Metals Technology Outlook (Revenue, USD Million, 2016 – 2028)
- Metal Extrusion
- Powder Bed Fusion
- Binder Jetting
- Sheet Lamination
- Directed Energy Deposition
3D Printing Metals Form Outlook (Revenue, USD Million, 2016 – 2028)
3D Printing Metals End-Use Outlook (Revenue, USD Million, 2016 – 2028)
- Consumer Electronics
- Aerospace and Defense
3D Printing Metals Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
About Polaris Market Research
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.
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