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The Trajectory of the Metal Additive Manufacturing Market: Forging the Future

11-23-2023 12:33 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

The Trajectory of the Metal Additive Manufacturing Market:

In a recent report published by Allied Market Research titled "Metal Additive Manufacturing Market," the evolving landscape of this industry is brought to light. With a valuation of $2.6 billion in 2021, the market is poised to soar to $14.1 billion by 2031, demonstrating a compelling CAGR of 18.1% from 2022 to 2031.

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Driving Forces: The metal additive manufacturing market has witnessed substantial growth over the past decade, propelled by the burgeoning automotive, aerospace, and healthcare sectors. Industry players are strategically expanding their businesses to solidify their global presence. The powder bed fusion segment emerged as a dominant force in 2021, both in terms of precision manufacturing and user-friendly application. Furthermore, the service & parts segment is anticipated to experience robust growth with a higher CAGR, driven by the increased adoption of 3D metal printers necessitating maintenance and repair services. The aerospace sector claimed the highest revenue in 2021, driven by the globalization-induced surge in air travel.

Diverse Manufacturing Techniques: Metal additive manufacturing encompasses various techniques, including powder bed fusion, binder jetting, direct energy deposition, and bound powder extrusion. Among these, the powder bed fusion segment took the lead in 2021, owing to its ease of use and precision. The market is dissected concerning different components, including systems, materials, and service & parts. Notably, the service & parts segment is expected to witness substantial growth, fueled by heightened demand from emerging economies. The end-user industry segmentation comprises aerospace, automotive, healthcare, and others, with the aerospace segment securing the highest revenue in 2021.

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Market Dynamics: The market's momentum is primarily driven by the global rise in population and disposable income, triggering heightened demand in healthcare, automotive, and aerospace industries. However, the high initial cost remains a potential constraint on the growth of the metal additive manufacturing market.

Global Overview: In 2021, North America claimed the top spot in the global metal additive manufacturing market share in terms of revenue, closely followed by Europe and Asia-Pacific. The Asia-Pacific region is expected to witness substantial growth at a high CAGR, propelled by advancements in sectors such as automotive, electronics, and healthcare.

Industry Innovations: Key players in the metal additive manufacturing market are consistently enhancing their offerings to be more efficient and production-friendly. Notably, Rapida, a 3D metal printer manufacturer, stands out by offering a water-based bound powder extrusion 3D metal printing machine. Products crafted using this printer eliminate the need for debinding, as there is no excess material in the final product.

Pandemic Resilience: The COVID-19 pandemic necessitated temporary halts in business operations for metal additive manufacturing manufacturers, particularly in countries like China, the U.S., and India. These interruptions had a direct impact on the initial lockdowns' sales. A shortage of manpower and raw materials further constrained the supply of raw materials for metal additive manufacturing, negatively influencing market growth. However, with two years post the COVID-19 outbreak and the introduction of vaccinations, the severity of the pandemic has significantly reduced, and key players in the market are swiftly recovering.

Key Companies: Key players profiled in the metal additive manufacturing market forecast report include BeAM Machines, DMG Mori Seiki Co., Ltd., EOS GmbH, Farsoon Technologies, GE Additive, Renishaw plc, Sisma SpA, SLM Solutions, Trumpf, and Xi'an Bright Laser Technologies Co., Ltd.

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Key Findings of the Study:

The horizontal segment dominated the metal additive manufacturing market in terms of revenue in 2021, with the vertical segment projected to exhibit a significant CAGR during the forecast period.

The powder bed fusion segment accounted for the highest revenue in terms of type in 2021.

The service & parts segment is expected to grow at a higher CAGR in terms of components.

The aerospace segment secured the highest revenue in 2021 among end-user industries.

Asia-Pacific is projected to register the highest growth rate in the coming years.

The report offers insights into the strategies of key players, providing a comprehensive understanding of the competitive outlook of the metal additive manufacturing industry.

The report delves into current trends and emerging opportunities within the market.

In-depth metal additive manufacturing market analysis is conducted, constructing estimations for key segments between 2022 and 2031.

https://www.alliedmarketresearch.com/metal-additive-manufacturing-market-A25776

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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