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3D Printing Metals industry: Current Trends, Business Opportunities, Challenges & Industry Analysis by 2027
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The global 3D printing metals market is witnessing continual increase mainly due to the rising adoption of 3D printing technology across industries. However, recently, applications of the evolving 3D metal printing technology have risen drastically due to the Corona epidemic. Proponents of 3D printing technology and digital manufacturing solutions are showcasing their potential as enablers of flexible supply chains, decentralizing worldwide production to respond to the disruption.
With the help of 3D metal printing technology, many companies are able to create urgently needed supplies for the medical community to fight against coronavirus, creating far more sustainable supply chains. Millions of parts for front-line healthcare workers such as components for face shields and PAPR hoods are produced mobilizing digital manufacturing and with lead times of as little as 24 hours. Also, some metal companies are aiming at COVID-19 with virus-killer coatings.
They are offering machines to spray-print a layer of copper on to a door handle, aiming to use the metal’s antiviral properties to counter the threat of the COVID-19 pandemic. These developments cumulatively presage that the 3D metal printing technology is estimated to perceive huge market demand and prominence in the next few years. According to Market Research Future (MRFR), the global 3d printing metals market is poised to touch a valuation of USD 2,006.2 MN by 2030, registering 28.12% CAGR a throughout the forecast period (2022 – 2030).
Additionally, military sectors, especially in developed countries such as America and Israel, are heavily investing in cutting-edge warfare technologies like 3D printing. Also, governments are increasing their defense budgets to acquire futuristic weapons developed using 3D metal printing. Also, 3D metal printing technology is revolutionizing army logistics, enabling the faster manufacturing of small metal parts for army vehicles. These factors would cumulatively drive the growth of the market.
3D Printing Metals Market - Segments
The analysis is segmented into five dynamics;
By Material : Titanium, Aluminum, Stainless Steel, Nickel, Inconel, and others.
By Form : Powder and Filament.
By Technology : Vat Photopolymerization, Material Extrusion, Sheet Lamination, Binder Jetting, Material Jetting, and others.
By Application : Aerospace Defense, Automotive, Healthcare, Building Construction, Consumer Electronics, and others.
By Regions : Europe, Americas, Asia-Pacific, Middle East Africa, and Rest-of-the-World.
Global 3D Printing Metals Market - Regional Analysis
Asia Pacific region dominates the 3D printing metals market. The largest market share attributes to the increasing investments in the building construction, healthcare, and consumer electronics industries in the region. The demand for 3D printing metals in Asia Pacific is relatively high as compared to other regions. China is a key producer and consumer of 3D printing metals globally, followed by India.
Key reasons behind the growth of the 3D printing metals market in these countries are the growing population and economy, which drive the demand in the building construction industry. Besides, factors such as the improving per capita health spending, geriatric populaces, and incidence of accidents substantiate the growth of the regional market. The APAC 3D printing metals market is projected to retain its leading position throughout the forecast period with a significant share.
North America stands second in the global 3D printing metals market, mainly due to the presence of major market players and advanced technologies. Moreover, augmenting demand for 3D printing metals technology in the burgeoning aerospace defense, automotive, and healthcare industries in the region fosters the growth of the market. The presence of well-established 3D printing manufacturing industries in the region is estimated to further substantiate the market growth.
Besides, the rising prevalence of diseases, alongside the increased adoption of medical devices for treatment procedures, propels the regional market growth, increasing the demand for the technology medical device companies. Moreover, growing advances and the adoption of technology is expected to drive market growth over the assessment years.
The 3D printing metals market in European territory is growing briskly. The market is majorly driven by favorable government initiatives for the development of technology and substantial investments made to expand 3D printing capabilities in rapidly developing European economies. Also, factors such as the rising prevalence of lifestyle diseases and the well-established medical device industries in Germany, the UK, and France act as dominant driving forces for the regional market growth.
Furthermore, the rising adoption of 3D printing metal technology in designing medical devices is anticipated to enable Europe to remain strong among the top leaders of the global 3D printing metals market. Furthermore, the rising adoption of 3D printing metal technology in designing medical devices is anticipated to enable Europe to remain strong among the top leaders of the global 3D printing metals market share.
3D Printing Metals Market - Competitive Analysis
Highly competitive, the 3D printing metals market appears fragmented due to the presence of several well-established players. Industry players strive to develop new technologies that can leverage cost-competitive production. They make substantial investments in RD and strengthen their market presence by expanding the distribution network regional footprints. This also allows them to form collaborations and strategic initiations such as mergers acquisitions, and others with other players in the 3d printing metals industry.
Players leading the global 3D printing metals market are Renishaw plc (UK), Voxeljet AG (Germany), 3D Systems, Inc (US), CRS Holdings Inc (Carpenter Technology Corporation) (US), GKN Aerospace (UK), Sandvik AB (Sweden), Materialise (Belgium), EOS GmbH (Germany), Concept Laser GmbH (Germany), SLM Solutions (Germany), and Optomec, Inc (US), among others.
Industry/ Innovation/ Related News
April 27, 2020 ----- The ExOne Company (the US), a leading global provider of three-dimensional printing machines products, announced its partnership with the University of Pittsburgh to develop reusable metal filters that can fit into a specially designed respirator cartridge for sustainable, long-term protection against contaminants, such as COVID-19. The partnership can potentially deliver sustainable, sterilizable personal protection equipment (PPE) for long-term use against contaminants during the current Coronavirus pandemic.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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