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“The 3D printing metals market is projected to grow at a CAGR of 32.5% between 2019 and 2024”
The 3D printing metals market is estimated to be USD 774 million in 2019 and is projected to reach USD 3,159 million by 2024, at a CAGR of 32.5% from 2019 to 2024. The increasing demand from the aerospace & defense and automotive industries, mass customization of complex metal objects, reductions in lead times, and possibilities to manufacture small, thin-walled, and complex structures at low-cost are major factors responsible for the growth of 3D printing metals market.
“The aerospace & defense segment is expected to hold the largest share of the 3D printing metals market during the forecast period”
The aerospace & defense application segment accounted for the largest share of the 3D printing metals market in 2018. The aerospace & defense industry has a specific requirement for lightweight and high strength components, with accurate and precise designs. Metals such as titanium are used extensively in this industry as they can withstand high temperatures and are resistant to wear & tear. Therefore, the demand for high strength materials to manufacture complex geometries is a major factor driving the demand for 3D printing metals in the aerospace & defense end-use industry.
“The powder bed fusion segment is expected to lead the 3D printing metals market during the forecast period”
Powder bed fusion is the most common technology used globally, and it accounts for the largest share of the 3D printing metals market. This technology is projected to grow at the fastest rate, owing to the increasing demand for metal powders from the aerospace & defense and automotive industries. Metal products manufactured using powder bed fusion have high density and mechanical and impact strength. Hence, powder bed fusion technology is widely used in the automotive and aerospace industries.
“The titanium segment is expected to lead the 3D printing metals market during the forecast period”
Based on metal type, the titanium segment is estimated to account for the largest share of the 3D printing metals market in 2019. The 3D printed titanium is primarily used in dental & medical applications because of its non-toxic nature, high strength, and resistance to corrosion. The growing demand from these end-use industries has increased the production of titanium. Titanium is used in aerospace & defense applications, owing to its capability to withstand extreme conditions such as high impact and high temperature.
“Asia Pacific is estimated to grow at the highest CAGR of the 3D printing metals market during the forecast period”
The Asia Pacific 3D printing metals market has been studied for China, Japan, India, South Korea, and the Rest of Asia Pacific. The Asia Pacific region is a lucrative market for 3D printing metals, owing to industrial development and improving economic conditions. Product innovations, new research and development projects, and increasing demand from the aerospace & defense industry have also fueled the demand for 3D printing metals in this region. Metal powder and printer manufacturers in North America and Europe are expanding their business in the Asia Pacific region and there is a vast knowledge transfer taking place between developed and emerging countries through active engagements in different forums.
Breakdown of primary interviews for the report on the 3D printing metals market
- By Company Type – Tier 1 – 16%, Tier 2 –36%, and Tier 3 – 48%
- By Designation – C-Level – 16%, D-Level Executives – 24%, and Others – 60%
- By Region –Asia Pacific – 20%, Europe – 36%, North America – 24%, Middle East & Africa – 12% South America – 8%,
Some of the leading manufacturers of 3D printing metals profiled in this report include 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)
- Research Coverage
- This report covers the 3D printing metals market by form, technology, metal type, end-use industry, and region.
- It aims at estimating the size and future growth potential of the market across various segments.
- The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report
From an insight perspective, this report focuses on various levels of analyses, such as industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments, high-growth regions, and drivers, restraints, opportunities, and challenges in the 3D printing metals market.
The report provides insights on the following:
- Market Penetration: Comprehensive information on various raw materials and processes of 3D printing metals offered by top players operating in the market
- Product Development/Innovation: Detailed insights into upcoming developments in 3D printing metals, R&D activities, and new applications in various end-use industries in the market
- Market Development: Comprehensive information about lucrative and emerging markets across different regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the 3D printing metals market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the 3D printing metals market