3D Printing Metals Market was valued at USD 452.0 million in 2017 and is projected to reach 2,089.7 million by 2023, at a CAGR of 28.8% during the forecast period.
Limited design tools
The 3D printing industry is witnessing a rapid growth with the mass customization of designs and end products. However, it faces a challenge related to the designing of very complex shapes using existing design tools. Although several companies are focusing on developing software specifically for 3D printing to analyze and explore the benefits of 3D printing technologies, the lack of skilled workforce to cope with new versions of the design tools will continue to challenge market growth. The advancements in material science have to be in sync with the design tools and 3D printing machines, as all these have to be integrated to produce the final product. Along with the development of new design tools and printing technologies, awareness should also be created about the benefits of 3D printing to draw the attention of several industries, particularly small- and medium-scale enterprises (SMEs).
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Potential to enhance manufacturing and supply chain management
The 3D printing metals market, which has been growing at a significant rate, has the potential to change manufacturing and supply chain management. Metal 3D printing provides several advantages, such as mass customization and short production runs. Unlike traditional manufacturing processes, metal 3D printing eliminates the tooling requirement. Although traditional manufacturing costs less per unit produced, it has high up-front costs for tooling, and the production is more expensive compared to 3D printing for low-volume manufacturing.
Metal 3D printing also helps in reducing the waste produced during the manufacturing process by building a part using a layer-on-layer process. Additionally, additive manufacturing helps several companies to reduce waste during prototype transitions, subsequently lessening operational costs. Although the scope of the parts that will be manufactured through this technology is uncertain, metal 3D printing is expected to change the supply chain management, which may, in turn, affect the boundary between manufacturers and customers in a certain type of products or parts. The 3D printing metals market has been experiencing advancement in printers and printing technologies, improvement in the materials used, and development in the workforce in terms of skill. The market is expected to grow significantly by 2025, by which time the production is expected to be standardized.
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