DUBLIN, April 1, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "3D Printing Metal Market by Form (Powder and Filament), by Type (Titanium, Nickel, Stainless Steel, Aluminum, Others), by Application (Aerospace & Defense, Automotive, Medical & Dental, Others), and by Region - Global Forecast to 2020" report to their offering.
The global 3D printing metals market was valued at USD 156.2 Million in 2014, and is expected to reach USD 776.8 Million, growing at a CAGR of 31.5% between 2015 and 2020
Increasing use of 3D metal printing as a mainstream production process in the industries such as aerospace & defense and medical & dental is driving the growth of 3D printing metals market.
The most widely used metals for 3D printing include titanium alloys, nickel, inconel, stainless steel, aluminum, cobalt chrome, copper, silver, gold, and others. Ti-6Al-4V, a titanium alloy, is mainly used for manufacturing of engine parts and airframes. It offers excellent corrosion resistance and high strength required for heavy engineering applications. Titanium alloys are mainly used in aerospace industries due to their light weight and excellent resistance to heat.
Titanium is a bio-compatible material and is widely used in medical implants. Apart from titanium, stainless steel is also one of the most preferred materials for 3D metal printing end-user industries. It is bio-compatible and offers extravagant outstanding properties. Most widely used forms of stainless steel are 17-4PH and Stainless Steel 316L.
Aerospace & defense is the fastest-growing segment in the 3D printing metals market. The demand for applications such as critical engineering and fabrication applications in aerospace & defense industry is increasing and hence the segment is growing. The demand for metal powders is going to rise significantly as manufacturing companies which previously used 3D printing for prototyping are now using this for mainstream manufacturing activities.
In addition to this, metal 3D printer manufacturers are developing new printers with larger print box which can print larger components and structures used in engineering applications. Other than the aerospace & defense industry, 3D printing metals are also used in the automobile industry for printing critical engine parts. This segment is witnessing higher growth from the Asia-Pacific region due to large number of automotive manufacturers present in the region.
North America accounts for the largest share of the 3D printing metals market. On the other hand, Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The increasing use of metal 3D printing in the automotive industry in countries such as Japan, China, and South Korea is driving the growth of 3D printing metals market in this region.
3D Systems Corporation, being the top player in the 3D printing metals market, aims to maintain its position against current and future sources of competition through acquisitions, agreements, and partnerships. As a part of this strategy, the company has started to acquire companies, entered in new agreements, and launched new products so as to expand its presence in the 3D printing market. The company also launches new products to gain more revenue and to avoid the loss of demand for its products.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 3D Printing Metals Market, By End User
8 3D Printing Metals Market, By Form
9 3D Printing Metals Market, By Type
10 3D Printing Metals Market, By Region 11 Competitive Landscape
12 Company Profiles
- 3D Systems Corporation - Arcam AB - Carpenter Technology Corporation - Eos GmbH Electro Optical Systems - GKN PLC - Hoganas AB - Optomec Inc. - PLW Technology Ltd. - Renishaw PLC - Sandvik AB - Voxeljet AG
For more information visit http://www.researchandmarkets.com/research/p6vxdp/3d_printing_metal
Research and Markets
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SOURCE Research and Markets