3D Printing Metal Market Highlights
The popularity of 3D metal printing has grown over the years. When compared to the traditional manufacturing, making metal and plastic objects can be a wasteful process. The new technology reduces wastage and turns out to be efficient. In the aerospace industry, when aircraft makers manufacture metal parts, around 80% of the material is thrown away. 3D printing metal parts uses less energy and reduces waste to a minimum. The finished 3D printed product can be up to 55% lighter compared to the traditional manufactured parts.
The market is highly application driven and the aerospace & defense segment accounts for the largest market by application. In 2015, the segment was leading the market with its more than 35% of market share. It is expected to show similar results by the end of the forecasted period. The market is fueled by its high precision and accuracy, due to which it is used widely to print larger aircraft components. The market has also seen lot of investments in the R&D to develop new technologies to cater the automotive and healthcare segments as well. The global 3D printing metal market is expected to grow from about USD 160 Million in 2015 to cross USD 800 Million by the end of 2022, growing at a CAGR of 32% in the forecasted period.
3D Printing Metal Market Key Players Analyzed in this Report are as:
Renishaw Plc
Voxelget AG
3D Systems Corporation
Carpenter Technology Corporation
EOS GmbH
LPW Technology
SLM Solutions GmbH
Concept Laser GmbH
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Market Research Analysis:
The market is highly application based. The key driver for market is the growth of end-use industries such as automotive, aerospace, healthcare among others. It is expected that the global 3D printing metal market will advance with higher growth rate as compared to previous years. However the current challenge for the market is the fluctuating prices of raw materials.
On the basis of application, aerospace & defense leads the market in all the major regions across the globe. The share owes to the growing demand for lightweight and strengthened printing materials. It also used heavily in orthopedic and dental applications for artificial knee & hip replacement. On the basis of material, titanium accounts for largest market due to its high durability, speed, accessibility, and affordability across all applications.
On the basis of region, North America takes the lead as the largest market. However APAC accounts for the fastest growing market due to the changing urbanization scenario along with industrialization. This calls for better printing technology across all the industries. The growth of automotive industry due to increased demand for automobiles in the region has fueled the demand for printing technology in the automotive sector as well.
Scope of the report:
This study provides an overview of the global 3D printing metal industry, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global 3D printing metal market as material, technology and application. On the basis of material it is segmented as steel, aluminum, titanium, nickel and others. On the basis of technology, it is segmented as powder bed fusion, binder jetting, metal depositions, and others. On the basis of application it is segmented as aerospace & defense, dental, automotive, and others.
3D Printing Metal Market Regional Outlook:
The report has analyzed the market based on the three segments: material, type and application in the regions of North America, Europe, APAC and rest of the world. On the basis of material, titanium has the largest market share. The share is attributed to its wide usage in the aerospace & defense industry. On the basis of application, aerospace & defense accounts for the largest share both by value and volume, owing to its high precision and accuracy. The scope of the market has widened over many years owing to the flourishing markets of APAC. The global 3D printing metal market is expected to cross USD 800 Million at the end of the forecasted period and is expected to grow at CAGR of approximately 32% from 2016 to 2022.
North America will be the largest market:
North America is the largest market due to the technological advancement and increased investment for R&D in the printing industry. The region has also seen lot of growth in their aerospace and defense sectors it is one of the most strategic sectors in the region. This further fuels the growth of the 3D printing metal market. APAC is seen as the fastest growing market due to rapid industrialization and population growth. This calls for more industrial applications of the printing technology in the region.
The report for Global 3D Printing Metal Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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