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3D Printing Metals Industry
“3D Printing Metals Market: Exactitude Consultancy Research Report Offers Comprehensive industry Overview and Future Projections”
Surging 3D printing metals market demand driven by advancements in aerospace, automotive, and healthcare sectors for lightweight, durable components” - Exactitude Consultancy
LUTON, BEDFORDSHIRE, UNITED KINGDOM, August 26, 2024 /EINPresswire / -- 3D Printing Metals Market Overview:
Revenue from the global 3D Printing Metals Market size is estimated to reach US$ 2.49 Billion in 2023. The market has been analyzed to climb to a value of US$ 15.81 Billion by the end of 2030, expanding at a CAGR of 22.8% over the next decade.
3D printing is a method in engineering that involves solid material being fused in three dimensions by layering the material based on a predetermined computer file with a 3D digital model. The process may also be referred to as additive manufacturing. 3D metal printing is a method used in industries to manufacture small structures with tight designs. The advent of 3D metal printing technology has allowed manufacturers to create intricate structures with design versatility that was previously unattainable through traditional manufacturing methods. The efficiency of producing small structures with optimal accuracy increases through the layer-by-layer process of 3D printing metal technology. In addition, this precision is attained with the assistance of specialized machinery that is specifically made for producing these intricate and multifaceted formations.
The potential for the 3D printing metals market to grow at its highest rate is expected in both developed and developing countries in the projected timeframe. The market will experience growth and progress due to ongoing innovation and technological advancements. The increasing use of 3D metal printing in various industries is expected to drive market expansion and advancement.
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Competitive Rivalry:
The 3D Printing Metals market supports a range of applications, including supply chain analytics, risk analysis, demand forecasting, and vendor management. Solutions in this market encompass various modules such as financial surveys, real-time and batch data analysis, category management, and compliance management. Implementing these modules enhances data optimization, automates data cleansing, and facilitates sourcing category analysis.
Vital Companies Profiled in the Report are: Sandvik AB, Hoganas AB, GNK PLC, GE, Honeywell, Arcam AB, Renishaw PLC, Voxeljet AG, EOS, Digital Metal., and others.
Recent Development:
In April 2023: Velo3D announced the release of its software version 5.0, offering enhanced print preparation capabilities, improved parameter development, and increased support for a wider range of metal alloys.
In March 2023: Stratasys Ltd. introduced its new metal 3D printing system, the H350, leveraging its proprietary Layered Powder Metallurgy (LPM) technology to enable high-speed printing of metal parts.
Market Segments by 3D Printing Metals
3d Printing Metals Market by Form, 2020-2029, (USD Billion), (Kilotons)
Filament
Powder
3d Printing Metals Market By technology, 2020-2029, (USD Billion), (Kilotons)
Selective Laser Sintering (SLS)
Direct Metal Laser Sintering (DMLS)
Inkjet printing
Electron Beam Melting (EBM)
Laser Metal Deposition (LMD)
Laminated Object Manufacturing (LOM)
Electron-beam Freeform Fabrication (EBF3)
Selective Laser Melting (SLM)
3d Printing Metals Market by Product, 2020-2029, (USD Billion), (Kilotons)
Titanium
Nickel
Stainless Steel
Aluminium
3d Printing Metals Market by Application, 2020-2029, (USD Billion), (Kilotons)
Aerospace & Defense
Automotive
Medical & Dental
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The electron beam melting (EBM) sector has the largest market share and is projected to increase by 23.95% annually over the forecast period.
Electron beam melting, a form of 3D printing technology, is used to create metal objects. It involves using an electron beam to heat metal wire or metal powder before connecting them. Arcam AB, a Swedish company, is responsible for the design and development of additive manufacturing technology. The primary focus of the company is manufacturing electron beam melting (EBM) equipment for additive manufacturing processes. It provides options for 3D printing that aid in producing metal parts using EBM technology. The main focus of the company's services is on the aerospace and medical sectors.
DMLS is a method involving a powerful laser that integrates powdered alloys and metals to create metal components using CAD data. The technique helps to avoid the difficult tooling and production of complex shapes that cannot be achieved with other metal manufacturing methods. For example, HAL employs the direct metal laser sintering (DMLS) technique to produce parts for the Hindustan Turbofan Engine-25 (HTFE-25). Anticipated advancements in India's metal AM sector are expected to drive up the demand for 3D-printed metals in the country in the coming years.
The prototyping sector has the largest market share and is projected to increase at a 23.55% CAGR in the forecast period.
Utilizing 3D CAD data enables the speedy production of a scaled model of a complete assembly or object. Once the prototype is finished, it can be used to efficiently manufacture numerous copies of the same prototype. Metal additive manufacturing is being used more and more in Mexico's aerospace and automotive industries for creating prototypes and final products. The automotive and aerospace sectors are seizing more chances and embracing 3D printing at a rapid pace as prototyping and designing play a vital role in research and development for achieving excellence in production.
3D Printing Metals Market Regional Insights
In 2022, North America dominated the revenue share with 34.33% because of the region's significant adoption of additive manufacturing. In various manufacturing processes, the U.S. and Canada are known as leading and innovative users of this technology. The metal 3D printing market in the area presents profitable prospects for various uses.
The Asia Pacific region is experiencing the fastest growth rate in the global market for 3D printing metals. It is projected that the region will maintain its leading position throughout the forecast period. The rapid technological advancements are responsible for the expansion of this local market. Moreover, the rapid growth of the manufacturing industry along with the rising economic progress of developing nations like India and China will drive the growth of the local market. It is expected that North America will have a substantial revenue contribution in the worldwide market for 3D printing metals. The area is recognized as advanced and varied. Research activities and product developments in the region are primarily concentrated due to the presence of major players. This will enhance the growth of the market in the region. These are the factors that are anticipated to drive the growth and advancement of the worldwide 3D printing metals market.
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