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Market Size – USD 758.3 Million in 2019, market Growth - CAGR of 28.4%, Market Trends –Growth of the automotive sector
VANCOUVER, BRITISH COLUMBIA, CANADA, May 10, 2023 /einpresswire.com / -- The global 3d printing metal market is projected to be worth USD 5,739.0 million by 2027, according to a current analysis by Emergen Research. The 3D printing metal market is observing an accelerated growth rate attributed to its increasing demand from the aerospace and defense industries. The use of 3D printing of metal parts finds usage in the production of intricate and lightweight components and structures to provide improved strength and durability to aircraft and increased fuel efficiency. GE Additive, a GE division, has been deploying 3D printing to produce Advanced Turboprop for aircraft and has achieved a reduction in engine parts from 855 to just 12. The Cessna Denali aircraft equipped with 3D-manufactured advanced turboprops is likely to debut in 2020.
The 3D printing industry has been rapidly growing in recent years, and the market for 3D printing metal has been no exception. 3D printing, also known as additive manufacturing, allows for the creation of complex metal parts with precise geometries that would be difficult or impossible to achieve with traditional manufacturing methods.
One of the advantages of 3D printing metal is the ability to produce small batches or even one-off parts without incurring the high tooling costs associated with traditional manufacturing methods. This has led to increased interest in the technology across a range of industries, including aerospace, automotive, healthcare, and jewelry.
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Competitive Terrain:
The global 3D Printing Metal industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
Leading Market Players Profiled in the Report:
3D Systems Corporation, ExOne GmbH, Hoganas AB, Arcam AB, Materialise NV, Voxel Jet AG, GKN PLC, Equispheres, Renishaw PLC, Carpenter Technology Corporation
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Some Key Highlights from the Report
In September 2020, ExOne announced the InnoventPro 3D printer launch, which provides two novel build sizes for 3/5 liter and printing rate, reaching 700 cc/hour for the metal, composite, and ceramic parts manufacturer.
3D printing metal filaments offer the benefits of shape fabrication and 3D printing simultaneously with two or more metal.
Nickel and nickel-based alloys substantially improve the produced parts' strength and corrosion resistivity and offer enhanced aesthetic appeal. Automotive part manufacturers nickel alloys for engine component printing.
Binder Jetting is about ten times more cost-effective compared to 3D printing metal processes. Also, the build size achieved by this technology is much large, and the printing of parts doesn't require any support during the process, allowing the realization of intricate designs.
The market in the Asia Pacific region is projected to grow at the fastest rate of 30.3% in the forecast period attributed to the presence of leading manufacturing firms, especially automotive firms, supportive regulations, several space launches by renowned space agencies like ISRO, and increased investments in R&D for 3D printing.
Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global 3D Printing Metal market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the 3D Printing Metal market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global 3D Printing Metal market.
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Market Overview:
The report bifurcates the 3D Printing Metal market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Form Outlook (Revenue, USD Billion; 2017-2027)
Filament
Powder
Metal Type Outlook (Revenue, USD Billion; 2017-2027)
Titanium
Nickel
Aluminum
Stainless Steel
Others
Technology Outlook (Revenue, USD Billion; 2017-2027)
Powder Bed Fusion
Directed Energy Deposition
Binder Jetting
Metal Extrusion
Others
Regional Outlook:
North America (the U.S., Canada, Mexico)
Europe (the U.K., Germany, France, Italy)
Asia Pacific (India, China, Japan, Korea)
Latin America (Brazil, Argentina, Ecuador, Chile)
Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)
Key reasons to buy the Global 3D Printing Metal Market report:
The latest report comprehensively studies the global 3D Printing Metal market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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