The Global 3D Printing Metals Market size is estimated to be USD 580.9 million in 2019 and is predicted to reach USD 11517.8 million by 2030 with a CAGR of 31.2% from 2020-2030. Metal 3D printing, also known as metal additive manufacturing, is the perfect example of the technical advancements in the printing field. It is a process that creates three-dimensional parts from a digital file. The process involves the formation or solidification of thin layers of material, in order to create complete parts. This technology is widely being accepted for the manufacturing of complex structures and small designs.
Market Dynamics and Trends
Metal 3D printing introduces new advanced design possibilities, builds opportunities to create multiple components during production and aims at minimizing material use and overall production cost. Ideal applications for metal 3D printing accounts to fully functional prototypes, rigid housing, production tools, rigid housing, tools like molds and inserts, spare parts, ductwork, and heat exchangers and heat sinks. Titanium metal 3d printing holds a significant market share, accounting to its excellent corrosion resistance property and high tensile strength. The increasing research and development investments are further elevating the growth of the 3D Printing Metals Market.
Growing demand for 3D printing metal from aerospace and automotive industry, coupled with the adoption of advanced technology in printing are responsible for driving the growth of this market. In addition, the availability of 3D printers in various sizes and capabilities, product development and new R&D projects is also responsible for fueling the growth of this market. However, these printers are limited by the size of the product and this serves to be the major factor that the growth of this market. In addition, the potential to enhance the supply chain management and manufacturing process serves to be the growth opportunity of this market. Factors like the limited design tool, high material cost and requirement of functional products serve to be the major threats of the market. Lastly, factors like the high speed of manufacturing and exceptionally well geometrical accuracy is the prime reason that is responsible for growing the need and demand of these 3D printing metals during the forecast years. Additionally, the high adoption rate of advanced technology is also fueling the research and development activities of the market.
Market Segmentations and Scope of the Study:
The global 3D Printing Metals market share is analyzed on the basis of application, form, product, and geography. on the basis of application, the 3D printing metals market is fragmented into aerospace & defense, automotive, medical & dental, medical & pharmaceutical and others. The formed segment of this market is segmented into powder and filament. On the basis of product, the 3D printing metals market is categorized into titanium, nickel, textiles, steel, aluminum, and others. Lastly, on the basis of geography, the market is fragmented into North America, Europe, Asia Pacific, and Latin America & Middle East.
On the basis of form, powders account to have the maximum market share; whereas the aerospace and defense industry in the application segment dominates the market. The major mergers and acquisitions and collaborations between the key players are also increasing the business operations in the 3D printing metals market. As a matter of fact, the joint venture between Voxel jet AG have and Suzhou Meimai Fast Manufacturing Technology Co. is increasing the 3D metals manufacturing company in the Chinese market.
Comprehensive competitive analysis and profiles of major market players such 3D Systems Corporation, Arcam AB, Carpenter Technology Corporation, Concept Laser GmbH, Eos GmbH Electro Optical Systems, Equispheres, ExOne GmbH, GKN PLC, Hoganas AB, LPW Technology Inc., Materialise NV, Optomec Inc., Renishaw PLC, Sandvik AB and Voxel jet AG.