MRFR Recognizes Key Players in market as Sandvik AB, Metalysis, Arcam AB, ExOne GMBH, 3D Systems Corporation, Electro Optical Systems, GKN PLC, Materialise NV, Renishaw PLC, Hoganas AB, Voxeljet AG, Carpenter Technology Corporation, Equispheres, PLW Technology Ltd, Optomec Inc, LPW technologies Eos GmbH and Concept Laser GmbH
3D Printing Metals Market – Market Overview
3D printing metals are witnessing demand prominently in end use industries owing to their high precision manufacturing, high speed production. Light weight metals such as Titanium are preferably used in aerospce industry, owing to their high strength and light weight charecterestics. 3D pronting market is inclined to use sue such metals for the production of aerospace components. Numerous end-use indutries including automotive are trying to inculcate 3D printing as a mainstream manufacturing process, in order to minimize the manufacturing time, increase profit margin, and enhance manufacturing precision. This factor is antcipated to drive the overall market in near future. With incresing spending to manufacture various size 3D printers is projected to fuel 3D printing metal market growth. Moreover, manufacturers are funding for developing application specific and compatible 3D printers.
Global 3D Printing Metal Market size is expected to cross USD 800 Million at CAGR of 32% by 2022.
The global 3D printers market is fueled by increasing demand from aerospace, medical devices, and automotive industry. With the development of biocompative metals, the demand from healthcare industry is alos increasing. Biomedical applications such as orthopedic and dental are also witnessing increasing application of 23D printing metals.
Although, titanium is the most popular materials used for 3D printing, newer materials are being research upon in order to provide additional strnegth and decrease the production cost involved. Stainless steel is the cheapest metal used for 3D printing metals manufacturing. Other prominent materials include Nickel and Alumionium. Among these types, Nickel is estimated to be the fstest growing type of 3D printing metal.
Product wise, 3D printingmetal amrket is divided into filament and powder. 3D printing metal market utilizes pure metal powders. Such utilization of pure metal powder makes its feasible for its use in aerospace industry. Thus, powder metals are more widekly used and accounted for dominant share in the overall market. Filaments accounted for relatively small share in the overall market. Filaments are witnessing more investments by manfacturers, in order to produce low filaments.being a low volume segment, filaments form will exhibit relative high growth rates over the forecast period.
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Geographically, North America dominated the overall market. The high market share of the region is attributed to the higher adoption and presence of leading companies that can invest in 3D printing technology. North America was followed by Europe. Asia-Pacific market is esimated to witness steady and significant growth with increasing manufacturing in China and India.
China is expected to be highest growing market, owing to higher rate of adoption in automobile production.
Industry/ Innovation/ Related News
- Nov 2017: Sojitz Corporation and Koiwai Co., Ltd have enetered into the agreement to jointly establish JAMPT Corporation. Tehe joint venture will manufacture 3D printing metals in bulk and for the aerospace and medical device industry. It is the first inteegrated 3D printing metakl manufacturing company in Japan. Addressing the high manufacturing and logistic cost , and manufacturing limitation for 3D printing metals, this development been a significant breakthrough in the 3D printing metals market.
- Dec 2017; Aurora Labs, metal additive manufacturing machin producer based in India enetered into an agreement with DNV GL to produce machine parts. The parts will be independently certified and offered to the oil & gas, and marine application. The development signifies the penetration of 3D printing metals into oil & gas & marine industries.
3D Printing Metals Market – Competitive Analysis
Global 3D printing metals market is dominated by bigger plasyers in North America. The market poses entry barrier foer small scale manufacturers owing to relatively huge capital investment required. Manufcaturers are investing to develop low cost,, aplication specific and compatible 3D printers. High production cost for the filament 3D printeing metals is estimated to be a major challenge for global 3D printing metal manufacturers. Currently, there are more manufacturers producing the powder form of 3D printing metals.
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