3D Printing Powder Market projects growth a high CAGR of 19.2% till 2028: Top Companies Sandvik Materials Technology, GKN Hoeganaes Corporation, Carpenter Technology Corporation

The Global 3D Printing Powder Market is projected to reach USD 64.45 billion by 2028, growing at a CAGR of 19.2% during the forecast period. Increasing demand in the aerospace & defense sector combined with a reduction in production costs and increasing sustainability is expected to steer the market during the forecast period.

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In the global 3D printing powder market report, the demand landscape consists of description of manufacturers and producers offering or supplying powders primarily for a variety of industries. QMI notes that this is what accounts for a fair level of competition prevalent in the market.

Advanced additive manufacturing technologies to increase the demand for 3D Printing Powder
According to QMI's Latest report, the increasing demand for advanced additive manufacturing technologies for 3D printing mesh designs is one of the most important factors responsible for the significant growth of the market for 3D printing powders. The market for 3D printing powder is driven primarily by factors such as increased use of powder-based 3D printing across different industries such as healthcare, medicine, defense, energy, consumer goods, electronics, aerospace, and automotive. The fast pace of urbanization & manufacturing spurs the growth of the market for 3D printing powder.

Aerospace & defense industry to be the major consumer
Aerospace and defense, medical, automotive and architectural can be grouped in the different industries where 3D printing can be used. Of these, the aerospace and defense industry is a prominent segment with extensive uptake of 3D printing based on powder. This is attributed to the extensive use of powders in engine parts, airbuses, and missiles for 3D manufacturing.

The quantity of 3D printing material produced by the aerospace & defense industry represents one-third of the entire industry for its implementation.
This development is primarily thanks to the growing requirement from airbus manufacturing firms for 3D printing dust for the assembly of jet engines and engine parts. Additionally, there is a huge surge in demand for 3D printing powder among the vast spectrum of industries, such as automotive and medical. In engineering and manufacturing industries, metal powders are predominantly favored, since they require high precision & accuracy combined with superior fabric response. The aerospace & defense industry also tends to prefer metal powders for the manufacture of motor parts. These powders are used in tooling operations and prototyping in the manufacturing sector. They are also used in medical and dental applications such as orthopedic implants and surgeries as well as medical device manufacturing.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Sandvik Materials Technology
2. GKN Hoeganaes Corporation
3. Carpenter Technology Corporation
4. LPW Technology Ltd.
5. Arcam AB
6. ErasteelKloster AB

North America to show a promising growth
Among all countries, North America is regarded as the most promising region for 3D printing powder on the global economy. The 3D printing powder market for the Asia Pacific region remains the second-highest growing market before ROW. Most European-based paint firms are expanding their footprints in the Asia-Pacific region to take advantage of unique opportunities in this sector. As an emerging player in the 3D printing powder market, the Middle East still remains.

Important Activities to look for in the 3D Printing Powder Market:
1. On May 21, 2019, ExOne, the leading industrial 3D printer provider, announced a collaboration with Sandvik Additive Manufacturing to advance its 3D jet binder printing process using ceramic powder technology for 3D printing. Both companies will work towards optimizing the use of metal powders with binder jet 3D printing, with ExOne aiming to offer an improved binder jet processing solution to its industrial customer base with the collaboration.
2. On 24th October 2018, Carpenter Technology Inc. acquired LPW Technology Ltd. a leading manufacturer of 3D printing powders. LPW is headquartered in Widnes, the united kingdom with additional processing operations in Pennsylvania, and is renowned for its metal powders and management, storage and monitoring systems. Those materials are developed for powder bed fusion processes and optimized to the precise machine type, whether it's EOS, SLM Solutions, Concept Laser, Renishaw, 3D Systems, Trumpf, Arcam, and so on. In more recent times, the corporate has stepped up its embrace of automation and end-to-end solutions, bringing to plug its PowderLife portfolio, which ensures powder, are often properly managed and assured.
3. On 27th March 2018, LPW Technology enters the Tantalum powder processing partnership for additive manufacturing. Tantalum, like metal 3D printing favorite titanium, features a high weight to strength ratio and excellent biocompatibility. Global Advanced Metals (GAM) may be a leading producer of tantalum metal powders. Due to the metal's unique properties, GAM is collaborating with LPW Technology to assist process tantalum powders to be used in powder bed fusion (PBF).

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What will impact the growth of 3D Printing Powder Market?
o Increasing demand in the aerospace sector especially from NASA & ISRO.
o Cheaper cost of materials along with increased efficiency.
o Increasing use in medical sectors as contrast materials for imaging studies.
What Does This Report Provide?
This report provides a detailed understanding of the global market for 3D printing powder during the forecast period from both a qualitative and quantitative perspective. The report also provides dynamic indicators with potential market impact over the forecast period and an in-depth analysis of the leading companies operating in the market for 3D printing powders.

Market Segmentation:

By Type:

Metal
Plastic
Ceramic
By End-Use Industry:

Aerospace & Defense
Automotive
Healthcare
Others
By Region:

North America
By Country (US, Canada, Mexico)
By Type
By End-User Industry
Western Europe
By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
By Type
By End-User Industry
Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
By Type
By End-User Industry
Asia Pacific
By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
By Type
By End-User Industry
Middle East
By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
By Type
By End-User Industry
Rest of the World
By Region (South America, Africa)
By Type
By End-User Industry

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This release was published on openPR.