3d printing metal market

The global market for 3D printing metals is estimated to reach a valuation of US$ 422.9 Mn in 2022 and is projected to reach US$ 2.95 Bn by 2032. Sales of 3D printing metals are anticipated to surge at 24.1% CAGR through 2032.

Sandvik AB, ATI Powder Metals, Advanced Metallurgical Group, Rio Tinto, and American Axle & Manufacturing, Inc., are key manufacturers of 3D printing metals and accounted for a market share of 40% to 45% in 2021. Highest demand for 3D printing metals comes from the U.S., China, and Germany. Demand for 3D printing metals is predicted to surge at 26.4% CAGR from 2022 to 2032.

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3D printing is a process of creating three-dimensional objects from a digital model. The 3D printing technology has evolved rapidly in the past few years with the increase in demand for 3D printing metal market. 3D printers use various metals, plastics, alloys, and composites to produce physical 3D objects from a 3D model or design. The 3D printing technology is used in various industries such as automotive, aerospace, medical, dental, jewelry, and architecture. The 3D printing metal market is expected to grow at a high rate during the forecast period.

On the market for metal powder, 3D printing makes up about 5% of the market. High-precision and lightweight components are currently in high demand across a wide range of end-use industries. The automobile and aerospace sectors are looking for lightweight components to give customers fuel-efficient options. Such lightweight components cannot be produced using conventional manufacturing techniques with the level of precision required by these end-use sectors. As a result, there is a growing need for metals for 3D printing on a global scale.

Key Players-

• Sandvik AB
• ATI Powder Metals
• Advanced Metallurgical Group
• Rio Tinto
• American Axle & Manufacturing, Inc.
• Carpenter Powered Products
• Showa Denko Materials
• GKN PLC
• Praxair Surface Technologies Inc.
• Aubert & Duval
• Höganäs AB
• voestalpine BÖHLER Edelstahl GmbH & Co KG
• Royal Metal Powders
• Australian Metal Powders Supplies Pty Ltd.
• CNPC Powder Group Co., Ltd.
• Renishaw
• Materialise NV
• Stratasys Ltd.
• Optomec, Inc
• 3D Systems Corporation
• Arcam AB

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Key Takeaways from Market Study:

• The global 3D printing metal market is expected to reach a valuation of US$ 2.95 Bn by the end of 2032.
• The U.S. holds a dominating share of the global market.
• Growing demand for lightweight, high-performance components having complex geometric shapes is promoting the use of innovative production processes over conventional ones.
• The aerospace sector holds a significant share of the demand for 3D printing metals.
• Key market participants are actively expanding their manufacturing capabilities to cater to the rising demand.

Implementing 3D printing results in less material wastage in the form of process scrap by eliminating the need for expensive tooling and cutting down the number of manufacturing or processing steps, which results in a leaner supply chain. The costs associated with conventional manufacturing include the expensive CNC programming of machines, CAM programs, transfer time, and cost of multiple operations, labor, and management of multiple vendors, which can be eliminated through 3D printing metal.

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Major Highlights of 3D Printing Metal Market Report:

• 3D Printing Metal Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
• The report dives deeper into the market and explains the dynamic factors bolstering market growth.
• The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
• The report analyzes 3D Printing Metal Market presence across major regions of the world.
• It determines the production & consumption capacities and demand & supply dynamics of each regional market.
• The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
• It provides company overview and SWOT analysis of each of the market players.

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