Global 3D Printing Metal Market Size, Share And Forecast To 2031

(MENAFN- Straits Research) Introduction

In the dental industry, 3D printing technology, called Additive manufacturing (AM), is used to create patient-friendly dental goods such as partial dentures, crowns, and bridges. Usually, traditional manufacturing techniques are not suited for low-volume manufacturing since the equipment fluctuates in size. AM technology is now addressed, which is expected to accelerate market expansion in the United States.

The metal 3D printing business is expected to rise significantly throughout the forecast period due to several factors, including increasing demand for speedy prototyping, which allows manufacturers to design and build better products and systems. Furthermore, the ease of production and extra benefits of 3D printing technology are significant factors driving the technology's rapid acceptance across various industrial sectors.

Market Dynamics Improved Government Investments Spur the Market for 3D Printing Metals

The use of modern manufacturing methods is being drastically disrupted in several nations throughout the world by digital technology. Potential users of 3D technology include the US. The US Department of Defense budgeted money for this technology in 2018 as an essential capability. Industry leaders in computer software like Autodesk, Microsoft, and HP have introduced additive and 3D printing manufacturing technologies.

Similarly, China is working very hard to keep the manufacturing sector competitive in the international market. Chinese firms tend to invest in the research and development of this technology because they perceive it as both a risk and an opportunity for the Chinese industrial economy. India, on the other hand, is eagerly anticipating this technology as a chance to boost its position as a global manufacturing competitor. Active government programs like the "Make in India" Initiative help to support the Indian market.

Korea has developed a unique roadmap for 3D printing metal technology's research and development and offers national support to carry it out. To promote the adoption of this technology, the Korean government is speeding industry regulatory agreements and giving financial incentives. The UK government has also created a stand-alone 3D technology strategy, but Brexit-related uncertainties in the manufacturing sector are causing some concern. Since Germany has a well-established Industry 4.0 infrastructure, it is projected that Germany will develop new strategies for the technology.

The transition from quick prototyping to production utilizing 3D printing is expected to open up new opportunities for market participants. According to a recent survey of 3D hubs, more than half of enterprises use 3D printing to manufacture functional end-use products. In recent years, automotive, transportation, and biotechnology industries have seen an increase in the use of 3D printing.

Regional Insights

North America dominated the global 3D printing metal market, accounting for more than 30% of worldwide revenue in 2021, owing to the region's widespread adoption of additive manufacturing. North American countries such as the United States and Canada have used these technologies early in various manufacturing processes. The regional market provides significant potential for metal 3D printing in multiple applications.

The Asia-Pacific 3D printing metals market is projected to grow at the highest CAGR during the forecast period. This rapid acceptance of metal 3D printing in Asia can be linked to innovations and upgrades in the region's manufacturing industry. In addition, Asia-Pacific is rising as a manufacturing powerhouse for the automobile and healthcare industries. A grip on consumer electronics manufacture, combined with increased urbanization, contributes to the region's growing need for three-dimensional printing.

Key Highlights

• The global 3D printing metal market was valued at USD 475 million in 2021. It is expected to reach USD 3,615 million by 2030, growing at a CAGR of 25.3% during the forecast period (2022–2030).
  

• By form, the global 3D printing metals market is segmented into Powder and Filament. The Powder segment dominates the 3D printing metal market.
  
• By technology, the global 3D printing metals market is segmented into Powder Bed Fusion, Directed Energy Deposition, Binder Jetting, Metal Extrusion, and Others. The Powder Bed Fusion dominates the 3D printing metal market.
  
• By metal type, the global 3D printing metals market is segmented into Titanium, Nickel, Stainless Steel, Aluminum, and Others. The Titanium segment dominates the 3D printing metal market.
  
• By end-user, the global 3D printing metals market is segmented into Aerospace & Defense, Automotive, Medical & Dental, and Others. Aerospace & Defense dominate the 3D printing metal market.
  
• By region, the global 3D printing metals market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America commands the leading share of the market.