3D Printing Metals Market: By Form (Powder and Filament); By Technology (PBF, DED, Binder Jetting, Metal Extrusion and others); By Metal Type (Titanium, Nickel, Stainless Steel, Aluminum and Others); By End User (Automotive, Aerospace & Defense, Medical & Dental and others) and Region - Global Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
3D printing is a novel method of creating a 3-dimensional object by depositing layers of printing material and also known as additive manufacturing. This tool-less method assists in producing fully dense metallic parts in less time with high precision. Metals used for 3D printing includes titanium alloys, aluminum, nickel, stainless steel, and copper. The use of metals for 3D printing provides several benefits including resistance to corrosion, strength, and light-weighting which makes it suitable for applications such as aerospace, Defense, automobile, and oil and gas. Introduction of 3D metal printing technology has enabled the manufacturers to manufacture complex structures with design flexibility which could not be obtained with the help of old and conventional technique.
Global 3D Printing Metals market to surpass USD 10.72 billion by 2030 from USD 0.76 billion million in 2020 at a CAGR of 30.13% in the coming years, i.e., 2021-30. The Global 3D printing metals are expected to grow due to the rising demand from aerospace & defense and automotive end-use industries, low production cost, and reduction in lead times. Additionally, increasing usage of metal 3D printing owing to better design flexibility, less waste, and cost-effectiveness in the overall manufacturing landscape is anticipated to drive the market.
In November 2019, Renishaw plc collaborated with Sandvik Additive Manufacturing to qualify new additive manufacturing (AM) materials for production applications. These materials include an array of metal powders and new alloy compositions that can be optimized for the laser powder bed fusion (LPBF) process and superior material properties. With this collaboration, Renishaw plc developed new metal materials for 3D printing.
In March 2019, Stratasys Direct Manufacturing, a subsidiary of Stratasys, Ltd. expanded its Metal 3D printing production with VELO3D’s Sapphire 3D print system and Flow software. The expansion was done to fulfill the rising demand for 3D metal products for various applications. This expansion helped the company meet the customer demand for 3D metal printed products in North America.
Global 3D Printing Metals market is segmented by form into powder and filament. The powder segment held the largest market share of XX.X% in the year 2019. Powders used in 3D printing have high packing density and spherical morphology, which allows good flow properties. These can produce high-density products with complicated geometrics, that are used to manufacture engine parts and components.
Global 3D Printing Metals market is distributed by metal type into Titanium, Nickel, Stainless Steel, Aluminum and Others. Titanium Segment held the largest market share of XX.X% in the year 2019. The demand for titanium is increasing due to its rising application in the aerospace and defense industry. Titanium holds properties such as high impact and high-temperature resistance which is anticipated to lead to the sustainable growth of the market.
Global 3D Printing Metals market is distributed by the end-user into Automotive, Aerospace & Defense, Medical & Dental and others. The Aerospace & Defense segment held the largest market share of XX.X% in the year 2019. 3D printing reduces the overall mass of an aircraft thereby decreasing the fuel waste. Metal 3D printing is applied to print fuel nozzles and other critical engine parts that need high precision and accuracy in the aerospace & defense industry.
Growing adoption of 3D printing metals in the aerospace & defense sectors due to the ability to reduce the weight of aerospace components is projected to witness the growth of the 3D printing metals market. The components utilized during the manufacturing of aircraft require advanced engineering substances and complex geometries. 3D printing in the manufacturing of aircraft enables the fabrication of highly complex and lightweight structures. Moreover, 3d printing enhances the performance of the aircraft.
Introduction of 3D printing metals has set a new standard in the metal manufacturing industry. 3D printing metals are gaining popularity owing to their potential to make materials with complex geometries and a unique set of physical and chemical features. They offer excellent ductility, heat resistance, and low weight. In addition, the adoption of promising raw materials in 3D printing has prompted the demand for 3D printing metals in numerous applications.
High cost linked with metals is expected to hinder the global 3D printing metal market. The extraction process of metals is complex and requires high energy consumption, which leads to a rise in prices.
Global 3D Printing Metals market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific (APAC) and Middle-East & Africa (MEA).
Global 3D Printing Metals market in Asia Pacific held the largest market share of XX.X% in the year 2019. Asia Pacific will continue to dominate the Global 3D Printing Metals market due to rising investments in the construction, automotive, aerospace and defense sectors. The rapidly growing manufacturing industry in the region coupled with the presence of significant market players and adoption of innovative techniques is estimated to fuel the demand for the 3D printing metals market.
3D Printing Metals market Segments:
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