3D Printing Metal Market 2018 Major Manufacturers, Trends, Demand, Share Analysis To 2023

3D printing metal technology is capable of producing complex solid 3D objects by adding layers of materials. Already different industries have adopted 3D printing metal technology, and Market Research Future (MRFR) perceives broader industrial adoption of 3d metal printing technology in the forthcoming years. Industries such as aerospace and healthcare are at the forefront of embracing technology. The global 3D printing metal market is poised to showcase impressive growth and generate significant revenue over the forecast period of 2016-2023.

3D printing metal technology offers the advantages of the shorter value chain, reduction in cost and time, improved customization, and minimal waste. There is a large push for customization and personalization of manufactured products to meet the requirements of customers which presents tremendous opportunities to the global 3D printing metal market.

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The global 3d printing metal derives much of its growth from increasing use in the aerospace & defense industry. Utilization of 3D printing metal technology in the aerospace industry not only provides operating cost efficiencies but also facilitates production of lightweight airplane components.

The healthcare industry is also a key end-use industry for 3D printing metal market. Healthcare products such as artificial hip joints and other implants demand high precision which results in heightened demand for 3d printing metal technology.

Advancement in 3D printing metal technology such as direct metal laser sintering, selective metal sintering, electron beam melting, and honeycombing have opened up new avenues for the growth of the global 3d printing metal market. The advent of the industry 4.0 business ecosystem is anticipated to promote the growth of the global 3d printing metal market.

Conversely, the high cost of 3D printers and metal powders remain a significant hurdle to 3D printing becoming a viable, large-scale production technique.

Segmentation

The global 3D printing metal market has been segmented based on technology and application.

By technology, the global 3D printing metal market has been segmented into vat photopolymerization, directed energy deposition, binder jetting, material extrusion, material jetting, powder bed fusion, and sheet lamination.

By application, the global 3D printing metal market has been segmented into aerospace and defense, automotive, healthcare, consumer electronics, building and construction, and others.

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Regional Analysis

North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA) are the key markets for 3D printing metal market. North America accounts for the foremost share of the global 3D printing metal market. Technological advancements in the printing industry coupled with increasing investment in R&D activities drives the market in North America. Technological advances in the aerospace and defense industry is also a key growth factor. The aerospace & defense industry leverages 3D printing to manufacture armaments and viable ammunition components which need intricate designing.

Europe is the second largest market for 3D printing metal driven by increasing funding from the automotive industry. The European Union’s Seventh Framework Programme for Research And Development is a major source of funding. Also, expanding rapid prototyping services in the region influences the growth of the market.

APAC is poised to emerge as the fastest growing market for 3D printing metal. Improving economic conditions, rapid industrialization and growth of major end use industries such as automotive, medical devices, aerospace & defense are influencing the growth of the APAC market.

The MEA is anticipated to emerge as a key market for 3D printing metals due to the expansion of end-use industries in the region. For instance, the recent collaboration of Siemens AG and Strata Manufacturing PJSC with Etihad Airways, the second largest airline in UAE is likely to expand the use of 3D printing metal technology in the region and provide an impetus to the growth of the market.

The substantial growth of the aerospace industry in Brazil and Mexico is expected to boost the growth of the 3D printing metal market in Latin America. Moreover, Brazil is one of the largest producers of commercial jets in the region which will provide lucrative growth opportunities to the 3D printing metal market.

Competitive Landscape

The notable players in the global 3D printing metal market include Optomec (US), EOS GmbH (Germany), 3D Systems Corporation (US), Carpenter Technology Corporation (US), Concept Laser GmbH (Germany), Sandvik AB (Sweden), Renishaw Plc (UK), Höganäs AB (Sweden), GKN PLC (UK), Voxelget AG (Germany), LPW Technology (UK), and SLM Solutions GmbH (Germany).

Industry Updates

In December 2018, Siemens opened a new 3D printing facility at materials Solutions in the UK. An investment of USD 27 Mn has been made on the factory which aims to drive the industrialization of 3D printing.

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This release was published on openPR.