3D Printing Metals Market Form (Powder, Filament), Metal Type (Titanium, Nickel, Stainless Steel, Aluminium), Technology (Pbf, Ded, Binder Jetting, Metal Extrusion), End-Use Industry (A&D, Automotive, Medical & Dental) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
3D Printing Metals Market Overview
The global 3D Printing Metals market size was estimated at USD 1.85 billion in 2023 and is projected to reach USD 12.6 billion in 2030 at a CAGR of 27.1% during the forecast period 2023-2030.
The process of developing a three-dimensional object from a computer-aided design (CAD) model is commonly referred to as 3D printing. This production method involves the incremental addition of material, also known as additive manufacturing. The metals utilized for 3D printing are classified as 3D printing metals. Solid objects are created by utilizing a variety of materials, including plastics, metals, ceramics, and other substances. These materials are commonly employed by professionals such as designers, engineers, architects, surgeons, and others to create representative models for clients and students.
The increase in demand for 3D printing metals across various verticals, such as healthcare, automotive, and other industries, can be attributed to two major factors: the physical properties of 3D printing metals, including low manufacturing cost and reduced lead times, and the rising penetration of 3D printing metals, which offer a wide range of benefits. Furthermore, the extensive use of 3D printing metals in high-temperature engineering applications will contribute to the growth of the 3D printing metals market. Additionally, the adoption of additive manufacturing technology will create promising market growth opportunities.
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On the other hand, high costs of metals and 3D printers may hamper the market growth to some extent.
The outbreak of the COVID-19 pandemic has significantly impacted the overall global economy and, subsequently, the 3D printing industry. Initially, Europe and Asia Pacific were one of the worst affected regions in terms of the number of COVID-19 patients across the globe. Further, the situation worsened in the U.S. as well. Due to the rapid spread of the virus, the governments issued an order for the complete lockdown of some key cities.
Delvens Industry Expert's Standpoint
The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. The burgeoning necessity for rapid prototyping and advanced manufacturing practices has greatly benefited the 3D printing Metal market. This industry is projected to experience unprecedented growth in the forecast period due to the rising applications of additive manufacturing in various industry verticals. A crucial factor that propels the market's growth is the increasing adoption of metal 3D printers for designing and prototyping products and objects, along with reduced manufacturing expenditure and greater accuracy in the final product. Prominent demand for this market is expected to arise from the healthcare, automotive, and aerospace & defense sectors. The healthcare sector's growing advancements in curbing physical disabilities and ensuring healthy living are inducing it to flourish and adopt new, innovative methodologies such as 3D printing. Furthermore, the automotive and aerospace sectors, where prototyping and designing play a pivotal role in research & development to achieve production perfection, are leading to greater opportunities and increasing adoption of the 3D printing process. These factors have led to the expansion of the market and increased demand for 3D Printing Metals solutions.
Key Findings
The Form segment is further fragmented into Powder and Filament. The Powder segment is expected to account for a larger market size during the forecast period. The utilization of metal in its powder form has proven to be advantageous in generating intricate geometries for engine parts and components with high-density attributes. Spherical in shape, these metal particles attribute the density and mechanical properties of the final product, ensuring uniformity and consistency in each layer. The growing demand for 3D printed products characterized by high strength and density has led to the increased demand for powder form.
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The Metal Type segment is further bifurcated into Titanium, Nickel, Stainless Steel and Aluminium. The Titanium segment is the largest market during the forecast period. The proliferation of the titanium sector can be ascribed to the ascending requisition for three-dimensional printed metallic components from the aerospace and defence, as well as automobile terminative utilization sectors. The properties inherent in titanium, namely its elevated impact and thermal resistance, facilitate its wide-ranging utility. Furthermore, titanium is also employed in the medical and dental terminative utilization industry, particularly in the production of orthopedic and dental implants, alongside artificial knee and hip substitutes.
The End-Use Industry segment is further bifurcated into A&D, Automotive, Medical & Dental. Aerospace & defense industry to account for a larger market size during the forecast period. The aerospace and defense industry utilizes metal 3D printing for the fabrication of fuel nozzles and other crucial engine components that necessitate a high degree of precision and accuracy. The advantages of 3D printing are particularly evident in the aircraft industry, where it leads to a reduction in both the weight of the aircraft and fuel consumption. Furthermore, 3D printing metals are deployed in the production of certain brackets for satellites in a manner that does not alter the mold designs or the manufacturing process. The burgeoning demand for engineering and fabrication applications that are critical in the aerospace and defense sector is driving this trend.
The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period owing to the presence of major key players coupled with increased focus on the technological advancements.
3D Printing Metals Market Regional Analysis
North America to Dominate the Market
North America is estimated to account for the largest market share during the forecast period owing to the presence of major key players coupled with increased focus on the technological advancements.
Moreover, the strong presence of the key players is expected to boost the North American market growth.
3D Printing Metals Market Competitive Landscape
• 3D Systems Corporation
• BASF 3D Printing Solutions GmbH
• Carpenter Technology Corporation
• EOS GmbH Electro Optical Systems
• General Electric Company
• Gkn Sinter Metals Engineering GmbH
• Hoganas AB
• Incredible Am Pvt. LTD.
• Lpw Technology LTD.
• Markforged, Inc.
• Materialise NV
• Oc Oerlikon Management Ag
• Pollen Am Inc.
• Prodways Group
• Proto Labs, Inc.
• Renishaw PLC
• Sandvik AB
• Sciaky, Inc.
• SLM Solutions Group AG
• Stratasys LTD.
• The ExOne Company
• Titomic Limited
• Trumpf GmbH + Co. Kg
• Voxeljet AG
• Wipro 3D
3D Printing Metals Market Recent Developments
• Renishaw plc collaborated with Sandvik Additive Manufacturing to qualify new additive manufacturing (AM) materials for production applications. These materials include a range of metal powders and new alloy compositions that can be optimized for the laser powder bed fusion (LPBF) process and superior material properties. With this collaboration, Renishaw plc developed new metal materials for 3D printing.
• GE Additive entered into a five-year cooperative research and development agreement (CRADA) with the US Department of Energy’s Oak Ridge National Laboratory (ORNL). The agreement was focused on the processes, materials, and software to increase customer adaptability towards additive manufacturing from conventional manufacturing.
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3D Printing Metals Market Reasons to Acquire
• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
• Gain authentic and granular data access for the 3D Printing Metals Market to understand the trends and the factors involved in changing market situations.
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
The 3D Printing Metals Market Report answers a number of crucial questions, including:
What are the years considered to study 3D Printing Metals Market?
What is the compound annual growth rate (CAGR) of the 3D Printing Metals Market?
Which region holds the largest market share in 3D Printing Metals Market?
Which region is the fastest growing in 3D Printing Metals Market?
Who are the major players in 3D Printing Metals Market?
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