Metal Additive Manufacturing Market Growing At A CAGR Of 18.1% And Is Projected To Reach $14.1 Billion By 2031

(MENAFN- EIN Presswire) as industries increasingly adopt advanced 3D printing technologies to enhance production efficiency, reduce waste, improve product performance

Through precision, innovation, and resilience, the construction and manufacturing industries build the frameworks and tools that shape our modern world” - AMRWILMINGTON, DE, UNITED STATES, February 7, 2025 /EINPresswire / -- The metal additive manufacturing market has experienced remarkable growth over the past decade, driven by the rapid expansion of industries such as automotive, aerospace, and healthcare. Numerous companies in the metal additive manufacturing sector are actively expanding their operations to solidify their position in the global market. The powder bed fusion segment emerged as the dominant type within the metal additive manufacturing market in 2021, primarily due to its precision manufacturing capabilities and ease of use. Additionally, the service and parts segment is expected to witness the highest compound annual growth rate (CAGR) due to the rising adoption of 3D metal printers, which require consistent maintenance and repair services. Meanwhile, the aerospace sector accounted for the highest revenue in 2021, fueled by increased globalization and the subsequent demand for air travel.

According to a recent report published by Allied Market Research, titled "Metal Additive Manufacturing Market," the sector was valued at $2.6 billion in 2021 and is projected to reach $14.1 billion by 2031, reflecting a robust CAGR of 18.1% from 2022 to 2031. This rapid expansion highlights the growing adoption of metal additive manufacturing technologies across multiple industries.

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Various metal additive manufacturing technologies have been developed, including powder bed fusion, binder jetting, direct energy deposition, and bound powder extrusion. Among these, powder bed fusion led the market in 2021 due to its precision and user-friendly nature. The market is further categorized based on its components, which include systems, materials, and service & parts. The service & parts segment is anticipated to register substantial growth, driven by increasing demand from emerging economies. In terms of end-user industries, the market spans aerospace, automotive, healthcare, and other sectors, with aerospace dominating revenue generation in 2021. The sector's growth is primarily fueled by a rising global population and increasing disposable income, which collectively boost demand in the automotive, aerospace, and healthcare industries. However, the high initial investment costs associated with metal additive manufacturing technologies present a significant barrier to market growth.

In 2021, North America held the largest market share in terms of revenue, followed by Europe and the Asia-Pacific region. The Asia-Pacific market, however, is expected to experience the highest CAGR during the forecast period, driven by expanding automotive, electronics, and healthcare industries in countries such as China, India, and Japan. Government initiatives promoting advanced manufacturing technologies and increased foreign investments are also expected to accelerate regional market growth.

Key players in the metal additive manufacturing market are continuously working to enhance their technological offerings and streamline production processes. For example, Rapida, a leading 3D metal printer manufacturer, has developed a water-based bound powder extrusion 3D metal printing machine. This innovative solution eliminates the need for debinding, ensuring greater efficiency in the production process while maintaining product quality.

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Despite the industry's promising growth, the COVID-19 pandemic posed significant challenges for manufacturers . Lockdowns and restrictions in key markets, including China, the United States, and India, led to temporary shutdowns, directly impacting sales and production. The pandemic also resulted in supply chain disruptions, labor shortages, and limited access to raw materials, further hindering market growth. However, as the global economy recovers and vaccination efforts curb the spread of the virus, manufacturing activities have resumed, and the industry is gradually regaining momentum.

Several leading companies are actively shaping the metal additive manufacturing market landscape. Key players profiled in the market forecast report include BeAM Machines, DMG Mori Seiki Co., Ltd., EOS GmbH, Farsoon Technologies, GE Additive, Renishaw plc, Sisma SpA, SLM Solutions, Trumpf, and Xi'an Bright Laser Technologies Co., Ltd. These firms are investing heavily in research and development to enhance the efficiency, affordability, and scalability of metal additive manufacturing technologies.

Key Findings of the Study

The report provides an in-depth analysis of emerging trends and current dynamics within the metal additive manufacturing market.

By type, the powder bed fusion segment dominated the market in 2021 in terms of revenue and is expected to continue its lead during the forecast period.

The service & parts segment is projected to experience the highest CAGR due to increased demand for maintenance and repair services as 3D metal printer adoption grows.

The aerospace industry accounted for the highest revenue share in 2021, driven by increasing global air travel and advancements in aircraft manufacturing technologies.

The Asia-Pacific region is anticipated to register the highest growth rate in the coming years due to the expanding automotive, electronics, and healthcare sectors.

Leading market players are continuously innovating to enhance the efficiency and cost-effectiveness of metal additive manufacturing solutions.

The report provides a detailed competitive analysis of major market players and their strategic initiatives.

Comprehensive market projections for key segments between 2022 and 2031 offer valuable insights for stakeholders and industry participants.

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David Correa
Allied Market Research
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