3D Printing Metal Market 2018-2023 | Global Key Player: Renishaw Plc (UK), Voxelget AG (Germany), 3D Systems Corporation (US), Carpenter Technology Corporation (US), GKN PLC (UK), EOS GmbH

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

Key Players:-

Renishaw Plc
Voxelget AG
3D Systems Corporation
Carpenter Technology Corporation
GKN Plc
EOS GmbH
LPW Technology
Sandvik AB
SLM Solutions GmbH

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Industry Updates:-

In May 2018, HP, global printing, and PC major announced its entry into the manufacturing industry. HP made its entry in the additive manufacturing field in 2016 and currently has plans to sell 3D printers that produce metal objects.
DWK Life Sciences, a leader in lab equipment manufacturing, has introduced first ever commercial 3D printed lab equipment. So far, 3D printed lab tools were only being used by lab individuals, but DWK Life Sciences is the first company to have created such products which are being marketed
Competitive Analysis:-

The global 3D printing metal market is highly competitive and has reached a level of consolidation; the key players are striving to remain competitive by implementing various strategies such as product launches, mergers, partnerships and by offering after-market services, greater flexibility, and reliability. Some of the prominent players operating in the market include Renishaw Plc, 3D Systems Corporation, Carpenter Technology Corporation, Voxelget AG, LWP Technology, SLM Solutions GmbH, GKN Plc, Concept Laser GmbH, Sandvik AB and EOS GmbH.

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.

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.

Regional Analysis:-

North America accounted for the largest share of the 3D printing metal market in 2018; the regional market is expected to exhibit significant growth during the review period. Technological advances and innovation in the aerospace and defense industry to strengthen military power are projected to drive market growth. The rising demand for fuel-efficient military aircraft and economically viable munition components with longer shelf life is projected to positively influence the growth of the market during the forecast period.

The Middle East & Africa is likely to emerge as a key market for 3D printing metals on account of the expanding end-use industries such as automotive, infrastructure, and healthcare. Siemens AG and Strata Manufacturing PJSC partnered with Etihad Airways, the second-largest airline in the UAE, to expand the use of 3D printing technology in the Middle East and North Africa and help the airline to improve designs.

The Middle East & Africa is likely to emerge as a key market for 3D printing metals on account of the expanding end-use industries such as automotive, infrastructure, and healthcare. Siemens AG and Strata Manufacturing PJSC partnered with Etihad Airways, the second-largest airline in the UAE, to expand the use of 3D printing technology in the Middle East and North Africa and help the airline to improve designs.

Asia-Pacific is expected to be the fastest growing market for 3D printing metal owing to economic growth and rapid industrialization driving the growth of major end-use industries such as automotive, medical devices, and aerospace and defense.

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Segmentation:-

The global 3D printing metal market is segmented based on material, technology, application, and region. By material, the market is segmented into steel, aluminum, titanium, nickel, and others. By technology, the market is segmented into powder bed fusion, binder jetting, metal depositions, and others. By application, the market is segmented into aerospace & defense, dental, automotive, and others.

Intended Audience:-

3D printing metal manufacturers
Traders and distributors of 3D printing metals
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratories

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This release was published on openPR.