3D Printing Metal Market Growth
Rise in penetration of bio-based materials and high-end technological advancements on board fuel the growth of the global 3D printing metal market.
NEW CASTLE, DELAWARE, UNITED STATES, October 9, 2023 /EINPresswire.com/ — The 3D printing of metal, also known as metal additive manufacturing or metal 3D printing, is a rapidly evolving technology with significant implications for various industries. It involves creating three-dimensional objects by adding successive layers of metal material, typically in the form of powder or wire, until the final object is formed.
According to the report published by Allied Market Research, the global 3D printing metal market was estimated at $147.2 million in 2018 and is expected to hit at $796.3 million by 2026, registering a CAGR of 23.5% from 2019 to 2026.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/6447
𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐬𝐨𝐦𝐞 𝐤𝐞𝐲 𝐚𝐬𝐩𝐞𝐜𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝟑𝐃 𝐩𝐫𝐢𝐧𝐭𝐢𝐧𝐠 𝐦𝐞𝐭𝐚𝐥 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬: A variety of metals and metal alloys can be used in metal 3D printing, including titanium, stainless steel, aluminum, nickel alloys, and more. The choice of material depends on the specific application’s requirements, such as strength, durability, and heat resistance.
Rise in penetration of bio-based materials and high-end technological advancements on board fuel the growth of the global 3D printing metal market. On the other hand, high costs related to raw materials restrain the growth to some extent. Nevertheless, rapidly growing industries such as healthcare, automotive, and aerospace & defense are expected to pave the way for lucrative opportunities in for the key players in the industry.
𝐏𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐬: 𝐓𝐡𝐞𝐫𝐞 𝐚𝐫𝐞 𝐬𝐞𝐯𝐞𝐫𝐚𝐥 𝐝𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭 𝐦𝐞𝐭𝐚𝐥 𝟑𝐃 𝐩𝐫𝐢𝐧𝐭𝐢𝐧𝐠 𝐩𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐬, 𝐢𝐧𝐜𝐥𝐮𝐝𝐢𝐧𝐠:
a. Powder Bed Fusion (PBF): This method involves spreading a thin layer of metal powder and then using a laser or electron beam to selectively fuse the powder particles, layer by layer. Common PBF techniques include Selective Laser Melting (SLM) and Electron Beam Melting (EBM).
b. Directed Energy Deposition (DED): DED involves the extrusion of metal powder or wire through a nozzle, which is then melted by a laser or electron beam as it is deposited, allowing for the creation of complex geometries and the repair of existing components.
c. Binder Jetting: In this process, a liquid binding agent is selectively deposited onto layers of metal powder to create the desired shape. After printing, the part is often sintered to remove excess binder and fuse the metal particles.
The aluminum segment contributed to around half of the total market revenue in 2019, and is expected to retain its dominance by the end of 2026. At the same time, the steel segment would project the fastest CAGR of 24.2% during the study period. The other segments assessed in the market report include titanium and nickel.
𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬: 𝐓𝐡𝐞 𝐦𝐞𝐭𝐚𝐥 𝟑𝐃 𝐩𝐫𝐢𝐧𝐭𝐢𝐧𝐠 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐢𝐬 𝐬𝐞𝐞𝐢𝐧𝐠 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐚𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐚𝐜𝐫𝐨𝐬𝐬 𝐯𝐚𝐫𝐢𝐨𝐮𝐬 𝐬𝐞𝐜𝐭𝐨𝐫𝐬, 𝐢𝐧𝐜𝐥𝐮𝐝𝐢𝐧𝐠:
a. Aerospace: Producing lightweight and complex parts, such as aircraft components and rocket engines.
b. Automotive: Creating custom or low-volume parts, as well as prototypes and performance-enhancing components.
c. Healthcare: Producing medical implants, dental devices, and customized prosthetics.
d. Tooling and Manufacturing: Building specialized tooling and molds for manufacturing processes.
e. Energy: Developing parts for the energy sector, such as turbine blades and heat exchangers.
f. Defense: Manufacturing components for military applications, including weaponry and equipment.
The powder segment held nearly three-fourths of the total market share in 2019, and is projected to retain the top status by 2026. The filament segment, on the other hand, is anticipated to manifest the highest CAGR of 24.1% throughout the forecast period.
𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞𝐬:
a. Design Freedom: 3D printing allows for the creation of complex and intricate geometries that would be difficult or impossible to achieve using traditional manufacturing methods.
b. Reduced Material Waste: Additive manufacturing generates less material waste compared to subtractive processes like milling and turning.
c. Rapid Prototyping: Metal 3D printing enables the quick and cost-effective production of prototypes and small batches of parts.
d. Customization: It’s possible to create customized, patient-specific medical implants or tailor-made industrial components.
e. Weight Reduction: The ability to create lightweight structures can lead to improved fuel efficiency and performance in aerospace and automotive applications.
North America generated the highest market share in 2019, holding more than two-fifths of the global market. Simultaneously, the region across Asia-Pacific would register the fastest CAGR of 24.2% by 2026. The other two provinces discussed in the report include LAMEA and Europe.
𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬:
a. Cost: Metal 3D printing can be expensive, especially for large or complex parts.
b. Surface Finish: Post-processing may be required to achieve the desired surface finish and tolerances.
c. Material Properties: Ensuring consistent material properties and quality can be challenging.
d. Size Limitations: The size of parts that can be 3D printed is often limited by the build volume of the machine.
e. Certification: In industries like aerospace and healthcare, rigorous certification and quality control processes are essential.
The metal 3D printing industry is continually advancing, with ongoing research and development efforts aimed at addressing these challenges and expanding the range of applications. As the technology matures and becomes more cost-effective, it is expected to have a profound impact on various manufacturing sectors.
The key market players analyzed in the global 3D printing metal market report include Arcam AB, Autodesk, Inc., 3D Systems, Voxeljet AG, The ExOne Company, Hoganas AB, Optomec, Inc., Ponoko Limited, Stratasys Ltd, and Organovo Holdings, Inc. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬’ 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/3d-printing-metal-market/purchase-options
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.
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. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. 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.
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