The global 3D printing metal market is expected to reach USD 3.06 billion by 2026 with a CAGR of 23.6% during the forecast period as per a new study released by Report Ocean. The report “3D Printing Metal Market [By State (Powder, Filament, and Others); By Metal Type (Titanium, Nickel, Stainless Steel, Aluminum, and Others); By End-Use (Medical, Automotive, Aerospace & Defense, and Others); By Regions]: Market size & Forecast – 2018 – 2026”. provides an extensive analysis of present market dynamics and predicted future trends.
Large industrial application has significantly increased the 3D printing (3DP) metals market growth. Additive manufacturing technologies such as 3D printing are their prime applications. Features such as low weight and high strength, with exceptions of very high resistivity to corrosion feature, makes the application of 3D printed metals favorable. Increased emphasis by leading manufacturers, expert 3D printer vendors, 3D printing service agencies, software vendors, professional service providers, and other stakeholders is increasing the attractiveness of the 3D printing metal market.
Globally, the 3DP metals market is driven by aerospace & defense industry. This know-how marks in lighter, faster, and highly efficient materials and technologies as compared to traditional ones. Furthermore, The 3DP metals manufacturing is flagged by high value customized production which makes it alluring the small, medium-sized, and big businesses.
The growth of 3D printing metal industry is substantially influenced by the medical industry as well and has prime application in hearing aids manufacturing. Technological advancement in 3D printers significantly impact the medical industry owing to rising focus of healthcare practitioners on quality improvement, cost reduction, and growing theragnostic approach.
3DP metal industry is characterized by lucrative growth opportunities for both suppliers and operators. Suppliers have potential to capture lead by reducing cost of supply aftercare services. This makes potential application analytics for the spare parts consumption, and minimizing the length of development and retooling process. Varied metals used in the manufacturing process are customized as per the end-user’s. The fastest growth is anticipated by Titanium owing to excellent production precision properties and greater features over all other types of metal.
The market is dominated by North America with the United States holding the largest share in the region. Further, the Asia Pacific market is projected to grow with the fastest CAGR during the review period owing to high R&D investments and rising manufacturing market by big market participants in South Korea, China, and Japan, and liberating administration guidelines. The global 3D printing metal market is consolidated and comprise of varied companies. Few key organizations include Arcam AB, 3D Systems Corporation, ExOne GmbH, Renishaw Plc, Hoganas AB, Carpenter Technology Corporation, Equispheres, Materialise NV, and Sandvik AB.
Report Ocean has segmented the global 3D printing metal market on the basis of state, metal type, end-use, and region:
3D Printing Metal State Outlook (Market Revenue in USD Billion, 2015 – 2026)
3D Printing Metal Type Outlook (Market Revenue in USD Billion, 2015 – 2026)
3D Printing Metal End-use Outlook (Market Revenue in USD Billion, 2015 – 2026)
Aerospace & Defence
3D Printing Metal Regional Outlook (Market Revenue in USD Billion, 2015 – 2026)
Middle East & Africa
Publisher : Polaris Market Research