(MENAFN- EIN Presswire)
Emergen Research Logo
Discover the latest trends and growth drivers in the additive manufacturing with metal powders market
VANCOUVER, BC, CANADA, June 20, 2024 /EINPresswire / -- The global Additive Manufacturing (AM) with metal powders market size was USD 490.30 Million in 2022 and is expected to register a revenue CAGR of 21.6% during the forecast period. The global market for additive manufacturing with metal powders is experiencing significant growth, driven by increasing adoption across various industries and advancements in manufacturing processes. This innovative technology, also known as 3D printing, enables the creation of complex components with high precision, opening new opportunities in sectors such as aerospace, automotive, medical, and dental.
Get Free Sample Report and Related Graphs & Charts @
Key Drivers of Market Growth
The widespread adoption of additive manufacturing by different industries is a major factor boosting market revenue. In aerospace and automotive industries, the emphasis on fuel efficiency and sustainability has led manufacturers to explore ways to reduce the weight of vehicles and aircraft without compromising structural integrity. For instance, Equispheres received USD 8 million in 2020 to scale up production of a unique metal powder that can significantly reduce vehicle mass, equivalent to removing 75 million cars from the road.
Advancements in manufacturing processes, particularly in the production of metal powders, are also contributing to market growth. Techniques like gas atomization and plasma atomization produce high-quality metal powders essential for 3D printing. Gas atomization, in particular, allows precise control over particle size and shape, making it ideal for producing homogeneous powders for additive manufacturing.
Challenges Facing the Market
Despite its potential, the market faces several challenges. High material costs and the need for post-processing to address quality issues can restrain market growth. Additive manufacturing remains specialized due to slower build rates and limited capacity to produce large quantities of parts compared to traditional methods. Achieving economies of scale continues to be a significant challenge.
Emerging Trends
Recent trends in the market include the adoption of Electron Beam Melting (EBM) and Direct Metal Laser Sintering (DMLS) technologies. EBM is gaining popularity in aerospace and healthcare for its ability to lower production costs, reduce cycle times, and produce lightweight components. DMLS, on the other hand, is favored for developing low-cost, high-quality items that meet the evolving needs of consumers. Both technologies are expected to see increased adoption in the coming years.
Request A Discount On The Report @
Segment Insights
Material Insights: The market is segmented into stainless steel, alloys, and others. The stainless steel segment is expected to grow rapidly due to its widespread use in automotive components and increased research and development efforts to enhance its properties. The alloy segment, including nickel, aluminum, and titanium alloys, holds the largest revenue share due to their adoption in various high-performance applications.
Manufacturing Technique Insights: The market is divided into powder bed and blown powder techniques. The powder bed segment, popular in automotive and aerospace industries, accounted for the largest revenue share in 2022. This method enables the precise manufacturing of complex components with desirable material properties. The blown powder segment is expected to grow fastest, particularly in Directed Energy Deposition (DED) applications, which are essential for manufacturing critical components in aerospace and automotive industries.
End-Use Industry Insights: The market caters to aerospace and defense, automotive, medical and dental, and tooling industries. The aerospace and defense sector held the largest revenue share in 2022, thanks to the commercial and performance benefits of metal additive manufacturing. The medical and dental segment is expected to see significant growth due to rising health concerns, an aging population, and increasing demand for medical devices and dental implants.
Request Customization Of The Report @
Additive Manufacturing with Metal Powders Top Companies and Competitive Landscape
The global Additive Manufacturing (AM) with metal powders market is moderately fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Additive Manufacturing (AM) with metal powders solutions.
Advanced Technology & Materials Co., Ltd.
ATI Inc.
CRS Holdings, LLC.
GKN Sinter Metals Pvt. Ltd.
Höganäs AB
LIBERTY Steel Group
Polema
RusAL
Sandvik AB
Rio Tinto
Renishaw plc.
Praxair
Arconic
Miba AG
Matsuura Machinery Ltd
3D system Corporation
Aubert & Duval
BÖHLER GmbH & Co KG
Metaldyne Performance Group Inc.
ExOne
Additive Manufacturing with Metal Powders Latest Industry Updates
In November 2020, Mitsubishi Power, a part of the Mitsubishi Heavy Industries (MHI) Group, signed a technology licensing agreement with Aubert & Duval, a metal processing company based in France, for the formulation and manufacturing of 3D printable metal powders. The agreement is the first step toward the full-scale launch of Mitsubishi Power's additive manufacturing business, which will combine Aubert and Duval's metal powder expertise with Mitsubishi's patented 3D printing technologies.
On 03 May 2022, SLM Solutions Group AG introduced the SLM800, a new metal additive manufacturing system. The SLM800 efficiently constructs large components and opens up new production opportunities. To enable successful large builds, all of SLM Solutions' patented inventions have been scaled up and combined with features such as a metal recoating brush, permanent filter module, and centralized powder supply. The system has a huge build volume and a modular design that makes customization and scalability simple. It also contains advanced process controls, which allow for the fabrication of high-quality parts with exceptional precision and surface perfection.
Additive Manufacturing with Metal Powders Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global Additive Manufacturing (AM) with metal powders market on the basis of material, manufacturing technique, end-use industry, and region:
Material Outlook (Revenue, USD Million; 2019-2032)
Stainless steel
Alloys
Others
Manufacturing Technique Outlook (Revenue, USD Million; 2019-2032)
Powder Bed
Blown Powder
End-Use Industry Vertical Outlook (Revenue, USD Million; 2019-2032)
Aerospace and defense
Automotive
Medical and Dental
Tooling
Regional Outlook (Revenue, USD Million; 2019–2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
Click here to Buy Now @
Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs. Emergen Research also offers a country-wise customized report as per clients' needs.
Read Similar Reports By Emergen Research:
electrotherapy market
food antioxidants market
extended reality market
5g chipset market
iot security market
deep learning chip market
Sensors in IoT Devices Market
next-generation biomanufacturing market
IoT insurance market
advanced prosthetics and exoskeletons market
About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Eric Lee
Emergen Research
+91 90210 91709
...
Visit us on social media:
Facebook
X
LinkedIn
MENAFN20062024003118003196ID1108353942