Press release
3D Printing Metal Market Global Industry Analysis | Voxeljet AG , Renishaw plc 3D Systems, Inc, GKN Aerospace
3D Printing Metal Market
Key Players
Market Research Future (MRFR) recognizes Renishaw plc (UK), voxeljet AG (Germany), 3D Systems, Inc (US), CRS Holdings Inc (Carpenter Technology Corporation) (US),GKN Aerospace (UK), EOS GmbH (Germany), Sandvik AB (Sweden), SLM Solutions (Germany), Materialise (Belgium), Concept Laser GmbH (Germany) and Optomec, Inc (US) as the key players in the global 3D printing metals market.
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Market Highlights
The Global 3D Printing Metals Market is estimated to be valued at USD 2,006.2, registering a CAGR of 28.12% during the forecast period.
The growth of the global market is driven by the growing adoption in the aerospace and automotive industries. Its ability to print complex parts and design at a lower cost and within a short period are factors favoring the market growth.
In addition, the biocompatible properties of 3D printing metalss have increased their application in the healthcare industry to manufacture medical implants, which is also expected to fuel the growth of the global market. Moreover, 3D printing metalss enable customization, i.e., the parts can be tailored. It has significantly helped the companies that manufacture aircraft to create complex components while maintaining regulatory standards. Thus, end-use industries are considering 3D printing metalss as essential material for combining advanced production and operation technique to boost the industrial revolution.
Segment Analysis
The global 3D printing metals market has been segmented on the basis of material, form, technology, application, and region.
On the basis of material, the global market has been segregated into titanium, aluminum, stainless steel, nickel, Inconel, and others. The titanium segment is expected to grow owing to its high strength, stiffness, low density, and good corrosion resistance properties. By form, the market has been divided into powder and filament. The powder segment is estimated to dominate the global market in the future owing to its wide application in end-use industries across the technologies such as binder jetting, material jetting, and sheet lamination. Technology segments are divided into sheet lamination, binder jetting, material extrusion, material jetting, vat. photopolymerization and others. The binder jetting segment held significant market share, and the sheet lamination segment accounted for around 21.8% share in 2018.
By application, the market has been divided into aerospace & defense, automotive, healthcare, consumer electronics, building & construction, and others. The aerospace & defense segment held the largest market share, and healthcare segment is projected to be the largest growing segment with a CAGR of 29.94% during the review period.
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Regional Analysis
The global 3D printing metals market, by region, has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As per MRFR analysis, Asia-Pacific was the leading market for 3D printing metals in 2017 and is expected to continue the trend during the review period. The North American market accounted for more than 32.92% of the global market share in 2017, owing to the high demand for 3D printing metals in aerospace, automotive, and healthcare.
Key Findings of the Study:
The Global 3D Printing Metals Market is projected to reach USD 8,2,006.2 Million by 2023 at a CAGR of 28.12% during the review period of 2018 to 2023.
Asia-Pacific held maximum market share, with China being the major contributor to the growth of the regional market.
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