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3D Printing Metal industry Trends
The market is expanding due to the rising penetration of bio-based materials and cutting-edge technological innovations.
WILMINGTON, DE, UNITED STATES, September 19, 2024 /EINPresswire / -- The global 3D printing metal market has seen significant growth, fueled by increased adoption of bio-based materials and advancements in technology. In 2019, the powder form segment led the market in terms of revenue, while North America emerged as the highest-grossing region.
According to a report by Allied Market Research, the global 3D printing metal market was valued at $147.2 million in 2018 and is projected to reach $796.3 million by 2026, growing at a CAGR of 23.5% from 2019 to 2026. The report provides a comprehensive analysis of investment opportunities, market strategies, trends, and competitive dynamics.
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Key Growth Drivers and Challenges
The market is expanding due to the rising penetration of bio-based materials and cutting-edge technological innovations. However, high raw material costs present a challenge to this growth. Despite these constraints, emerging sectors such as healthcare, automotive, and aerospace & defense are expected to create lucrative opportunities for industry players.
Segment Highlights
Aluminum to Lead by 2026
By type, aluminum contributed around 50% of the market revenue in 2019 and is expected to remain dominant through 2026. Meanwhile, the steel segment is anticipated to grow at the fastest CAGR of 24.2% during the forecast period, with other key materials including titanium and nickel also being assessed.
Powder Form Dominates:
By form, the powder segment accounted for nearly three-fourths of the market share in 2019 and is expected to maintain its lead through 2026. The filament segment, however, is set to experience the highest CAGR of 24.1% during the forecast period.
Geographical Insights
North America dominated the global market in 2019, holding more than 40% of the total revenue. Meanwhile, the Asia-Pacific region is expected to record the fastest growth, with a projected CAGR of 24.2% by 2026. The report also covers Europe and LAMEA as important regions in the market.
Key Players in the Market
Top players in the 3D printing metal market include:
- Arcam AB
- Autodesk, Inc.
- 3D Systems
- Voxeljet AG
- The ExOne Company
- Hoganas AB
- Optomec, Inc.
- Ponoko Limited
- Stratasys Ltd
- Organovo Holdings, Inc.
These companies have employed strategies such as partnerships, expansions, collaborations, and joint ventures to strengthen their position in the industry.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 800-792-5285
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