The 3D printing metal market is expected to grow from US$ 4.5 billion in 2021 to more than US$ 13 billion by 2028 at a CAGR of 16.5% between 2022 and 2028.
A growing number of metals and metal alloys can be 3D printed. These metals include aluminum, titanium, nickel, copper, bronze, cobalt, steel, stainless steel, tungsten, nickel-based alloys, and precious metals such as gold, silver, and platinum. All these different metals offer various properties, which make them suitable for a wide range of applications. Metal 3D printing material is available in various formats, catering to different metal 3D printing methods. The most common formats are powder, wire, and filament. The commonly used techniques for metal additive manufacturing are powder bed fusion techniques, which include direct metal laser sintering (DMLS), selective laser melting (SLM), and electron beam melting (EBM). 3D printing metals are used in different industries such as aerospace & defense, automotive, medical, and construction.
MARKET DYNAMICS
The 3D printing metal market is mainly driven by the growing use of 3D printed metal parts in aerospace & defense and automotive industries. The aerospace industry is hugely benefiting from the continuing uptake of additive manufacturing with the growing use of metals in the process. There are various benefits of metal 3D printing in aerospace manufacturing. With 3D printing, previously complex parts can be simplified into one precisely printed component rather than putting them together from multiple individual components. In addition, market players are launching metal additive manufacturing machines that are faster, easier to use, and more powerful with an increasing number of compatible metals. Further, various industries are adopting 3D metal printing technologies to produce cost-effective metal parts and prototypes, benefiting from increased freedom of design linked to additive manufacturing. All these factors are fueling the 3D printing metal market growth.
MARKET SCOPE
The "Global 3D Printing Metal Market Analysis to 2028" is a specialized and in-depth study of the 3D printing metal industry with a special focus on global market trend analysis. The report aims to provide an overview of the market with detailed market segmentation by metal type, form, and end-use industry. The global 3D printing metal market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global 3D printing metal market is segmented based on metal type, form, and end-use industry. Based on metal type, the market is segmented into titanium, nickel, stainless steel, aluminum, and others. In terms of form, the market is segmented into powder, filament, and others. Based on end-use industry, the market is segmented into aerospace & defense, automotive, medical, construction, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides overview and forecast of the global 3D printing metal market based on various segments. It also provides market size and forecast estimates from 2020 to 2028 with respect to five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. Each region's low GWP refrigerants market is later subsegmented into respective countries and segments. The report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in five major regions.
From the regional perspective, Asia Pacific is expected to register the fastest growth during the forecast period. The dominance can be attributed to the rapid adoption of metal 3D printing in various industries such as automotive, medical, and construction. The region is also emerging as a manufacturing hub for automotive and healthcare industries. Countries such as India and China mainly contribute to the growth of the 3D printing metal market in Asia Pacific.
The below figure showcases the revenue growth trend in the 3D printing metal market:
Source: The Insight Partners Analysis
The report analyzes factors affecting the 3D printing metal market from both demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive Porter's five forces analysis highlighting the factors affecting the 3D printing metal market.
IMPACT OF COVID-19 PANDEMIC
Before the COVID-19 pandemic, the 3D printing metal market was mainly driven by the growing use of 3D printed metal parts in various end-use industries such as automotive, aerospace & defense, and medical. However, the pandemic drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the 3D printing metal market. Due to the adverse impact of the COVID-19 pandemic on various end-use industries, the consumption of 3D printing metals was reduced. The global market for all types of cars was negatively affected due to the COVID-19 pandemic. The pandemic also brought about a dramatic decline in automotive vehicle sales. Moreover, the pandemic caused fluctuation in the prices of 3D printing metals. Prices of various metals increased due to supply chain disruptions caused by the pandemic. However, as the economies are reviving their operations, the demand for 3D printing metals is improving. The reopening of business activities in automotive and construction industries is expected to propel the consumption of 3D printing metals, thereby bolstering the market growth.
MARKET PLAYERS
The report covers key developments in the 3D printing metal market i.e. organic and inorganic growth strategies. Various companies are focusing on organic growth strategies, such as product launches, product approvals, and patents and events. Inorganic growth strategies in the market are acquisitions, partnerships, and collaborations. These activities have paved the way for business expansion and market players' customer base. The market players in the 3D printing metal market are anticipated to have lucrative growth opportunities in the future with the rising demand for 3D printing metals. Below is a list of a few companies engaged in the 3D printing metal market.
The report also includes the profiles of key 3D printing metal market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, and key development in the past five years.
- ?Stratasys ?CRS Holdings, LLC. ?Materialise ?Sandvik AB ?Höganäs AB ?EOS?Desktop Metal, Inc. ?SLM Solutions ?Sculpteo ?Markforged
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.