The global additive manufacturing with metal powder market is poised to grow at a strong rate over the coming time period due to the wide application scope of product across numerous application avenues such as oil & gas, aerospace, automotive and medical among others. AM, or additive manufacturing, or additive layer manufacturing is the industrial production name for 3D printing, a computer-controlled process that forms three dimensional objects by depositing materials in layers.

The global additive manufacturing with metal powder market is bifurcated into various segments in terms of manufacturing technique, material, application, and regional landscape.

Based on manufacturing technique the market for global additive manufacturing with metal powder is classified into blown powder and powder bed. The powder bed segment is further classified into electron beam melting, selective laser melting, and direct metal laser sintering. DMLS segment is an additive technology which is widely used for metal fabrication technology thus raising the product demand.

Meanwhile, in 2020, the SLM manufacturing technique segment was valued at more than $22.70 million and will showcase robust growth over the coming time period. EBM segment is slated grow at a CAGR of more than 11.5% over the projected time period.

The blown powder segment is divided into laser engineering net shapes and direct metal deposition. Here, the direct metal deposition segment will witness rapid progress over the analysis time period. This technology is extensively used in aerospace for repair mechanism of complex and expensive parts which is expected to boost product demand. LENS manufacturing segment is expected to witness around 20% CAGR through the analysis time period.

With respect to material, the additive manufacturing with metal powder market is categorized into precious metal, other steel, stainless steel, tungsten carbide, tungsten, silicon carbide, aluminum nitride, aluminum, nickel, copper, cobalt, and alloy. Alloy such as titanium is widely used in aerospace industry owing to its ability to offer toughness and ductility.

Titanium is further classified into Ti6A14V (ELI), Ti6A14V, and others. TI6A14V segment provides strength to weight and good corrosion resistance property, thus driving the segmental growth. In 2020, Ti6A14V (ELI) segment was over $17.095 million and expected to showcase a promising growth rate during the study period. The others application segment will witness robust growth owing to the rising demand for implant structures.

Cobalt segment is also classified into CoCrMo, CoCrWC, and CoCr. The CoCr segment offers high strength to gas turbines and orthodontic implants thus driving the segmental growth. In 2020, the CoCrWC material segment was valued to be around $0.935 million and is estimated to follow a strong growth trend over the coming years. Further, CoCrMo material segment is majorly used in hip replacement parts owing to its ability to offer strength and hardness.

Copper is categorized into CuNi2SiCr, CuCr1Zr, and C18150. The C18150 segment has wide application in consumer and industrial sector for electrode manufacturing. CuCr1Zr segment is projected to grow at 19% CAGR over the analysis timeline. Moreover, the CuNi2SiCr segment offers high stiffness and thermal conductivity having application in bus bars and heat exchangers.

Nickel is classified into Hastelloy X, Inconel 718, and Inconel 625. Inconel 625 segment is temperature and corrosion resistance which has application in automotive industry and is likely to drive the segmental growth. Likewise, Inconel 718 segment offers high strength and corrosion resistance which has application in space mission operator's industry and will further impact the segmental growth. The hastelloy X material segment was valued at around $0.850 million in 2020.

Meanwhile, the aluminum is segmented into ALSi10MG, ALSi7MG, and ALSi12. The ALSi12 segment will witness robust growth since it offers weight ratio and thermal properties. It further has application in production of spare parts of automotive and aerospace sector.

Similarly, ALSi7MG segment has wide demand from automotive sector as it is used for production of light weight components of vehicles. ALSi10MG is likely to witness a respectable CAGR of over 28.1% through the forecast time period.

In addition, Aluminum Nitride offers excellent thermal conductivity owing to its wide demand from electronic industry. Whereas, tungsten segment is majorly used in production of rocket nozzle due to its ability to provide heat resistance and radiation properties. Tungsten carbide also gives superior hardness and heat resistance and is widely used for nuclear and defense application.

Meanwhile, the stainless-steel segment is further bifurcated into duplex steel, martensitic steel, and austenitic steel. The austenitic steel segment will witness robust demand since it is corrosion resistance and offers ductility owing to its application in oil & gas industry. In 2020, the martensitic steel material segment was more than $39.905 million and is estimated to follow similar growth over the coming time period. Duplex steel will experience substantial growth since the product has wide application in paper and pulp industry owing to its ability of offer good strength and resistance.

Subsequently, the others segment is classified into low alloy steel, tool steel, and high-speed steel. Among these, high-speed steel segment will witness tremendous growth over the coming time period since the product has high wear resistance owing to its application in automotive and aerospace industry.

Tool steel segment reduces weight of the mechanical parts and has wide scope in automotive industry. Furthermore, alloy steel segment is highly used for wide industrial applications owing to its ability to offer toughness and strength. Additionally, precious metal segment is widely used for manufacture of jewelry with the help of laser sintering process, thus fueling the segmental growth.

In terms of application, the overall market is segmented into energy, oil & gas, medical, automotive, aerospace, and others. Among these, the oil & gas segment will witness significant growth over the coming time period. The technology offers design freedom in manufacturing process having wide application in production of complex parts of oil and gas machines.

The energy application segment is further divided into renewable and nuclear. The nuclear energy segment will witness high demand owing to the capability of the product to produce complex parts thus driving drives its application in nuclear industry. Likewise, the renewable application segment will witness healthy growth since the product helps in manufacturing of turbines in wind energy industry.

From a regional frame of reference, the LATAM region was valued at more than $8.660 million in 2020 and estimated to follow a strong growth trend over the coming years.

Meanwhile, Middle East & Africa region is expected to grow at a CAGR of 17.3% through the analysis timeframe.