3D Printing Metals Market | Key players operating in the market include 3D Systems Corporation, Stratasys Ltd., Renishaw plc, General Electric Company, Carpenter Technology Corporation
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The technology of printing a three-dimensional object from a digital file using metals and alloys, such as titanium, aluminum, stainless steel, and nickel, is called 3D printing and the materials used are called 3D printing metals. Aerospace & defense, automotive, and medical & dental are some of the major end-use industries of 3D printing metals. The 3D printing metals market is estimated to be USD 590.4 million in 2018 and is projected to reach USD 2,089.7 million by 2023, at a CAGR of 28.8% from 2018 to 2023. Rising demand for 3D printed parts in industries such as aerospace & defense and automotive is fueling the growth of the 3D printing metals market.
By type, the titanium segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increased demand from industries such as aerospace & defense and medical & dental. Titanium offers excellent corrosion resistance and high strength, which are required for heavy engineering applications. Titanium alloys are mainly used in the aerospace industry due to their light weight and excellent heat resistance properties. The low level of electronic conductivity, the low ion-formation tendency in aqueous environments, and high corrosion resistance make titanium a suitable material for medical implants, such as bone plates and artificial knee joints.
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The 3D printing metals market is estimated to be USD 590.4 million in 2018 and is projected to reach USD 2,089.7 million by 2023, at a CAGR of 28.8% from 2018 to 2023. The growing demand for metal powders in additive manufacturing and 3D printing has led to significant developments in the 3D printing metals market.
3D Systems Corporation (US), Stratasys Ltd. (US), Renishaw plc (UK), General Electric Company (US), Carpenter Technology Corporation (US), Materialise NV (Belgium), Voxeljet AG (Germany), Sandvik AB (Sweden), EOS GmbH Electro Optical Systems (Germany), The ExOne Company (US), and Proto Labs, Inc. (US) are key players in the 3D printing metals market. These companies are focused on investing in plant capacity expansions, contracts, new product developments, collaborations, and acquisitions. They also have the potential to broaden their product portfolios and compete with other key market players.
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3D Systems Corporation (US), is a leading player in the 3D printing metals market. The company offers a wide range of metal powders as well as 3D metal printers. It also provides software solutions for 3D printing. The company serves a wide range of end-use industries such as aerospace & defense and medical & dental. 3D Systems Corporation (US) adopted new product launches and expansions as the key strategies to expand its presence in the market. For instance, in July 2019, 3D Systems Corporation was awarded a contract worth USD 15 million from the Combat Capabilities Development Command Army Research Laboratory (ARL), to create the world's largest, fastest, and precise 3D printer. This contract will increase the consumption of 3D printed metal parts & components in the aerospace and defense industry. The contract helped the company increase its product portfolio.
Stratasys Ltd. (US) is one of the leading providers of 3D printing and additive manufacturing solutions for rapid prototyping and direct digital manufacturing (DDM). It also develops, manufactures, and markets materials for the metal 3D printing marketplace. The company is focused on the expansion of its Stratasys Direct Manufacturing (SDM) business by adopting inorganic growth strategies. The company's products have a strong application base across end-use industries, helping strengthen its position in the 3D printing metals market. Stratasys Ltd. is also strengthening its market presence through developments such as expansion. In March 2019, the company expanded its Metal 3D printing production with VELO3D's Sapphire 3D print system and Flow software. The expansion was done with the view to meet the increasing demand for 3D metal products for several applications. This expansion helped the company meet the customer demand for 3D metal printed products in North America.
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