3D Printing Metals Market to Exhibit a CAGR of 32.5% Over 2019-2024 - Increasing Demand from the Aerospace & Defense and Automotive Industries
DUBLIN, Feb. 5, 2020 /PRNewswire/ -- The "3D Printing Metals Market by Form (Powder, Filament), Technology (PBF, DED, Binder Jetting, Metal Extrusion), Metal Type (Titanium, Nickel, Stainless Steel, Aluminum), End-Use Industry (A&D, Automotive, Medical & Dental), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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)
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 3D Printing Metals Market, By Type
3.2 3D Printing Metals Market: End-use Industry Share, By Region
3.3 3D Printing Metals Market, By Region
4 Premium Insights
4.1 Attractive Growth Opportunities in the 3D Printing Metals Market
4.2 3D Printing Metals Market, By End-use Industry
4.3 3D Printing Metals Market, By Type and End-use Industry
4.4 3D Printing Metals Market, By Country
4.5 3D Printing Metals Market: Developing vs. Developed Economies
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand From the Aerospace & Defense and Automotive Industry
5.2.1.2 Mass Customization
5.2.1.3 Low Manufacturing Cost
5.2.2 Restraints
5.2.2.1 Limitation of Printer Size
5.2.3 Opportunities
5.2.3.1 Potential to Enhance Manufacturing and Supply Chain Management
5.2.4 Challenges
5.2.4.1 Limited Material Requirements of Functional Products
5.2.4.2 Limited Design Tools
5.2.4.3 High Material Cost
5.3 Porter's Five Forces Analysis
6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
7 3D Printing Metals Market, By Form
7.1 Introduction
7.2 Powder
7.3 Filament
8 3D Printing Metals Market, By Type
8.1 Introduction
8.2 Titanium
8.3 Aluminum
8.4 Nickel
8.5 Stainless Steel
8.6 Silver
8.7 Gold
8.6 Others
9 3D Printing Metals Market, By End-Use Industry
9.1 Introduction
9.2 Aerospace & Defense
9.3 Medical & Dental
9.4 Automotive
9.5 Others
10 3D Printing Metals Market, By Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Middle East & Africa
10.6 South America
11 Competitive Landscape
11.1 Overview
11.2 Ranking of Key Market Players
11.3 Competitive Scenario
11.3.1 New Product Developments & Launches
11.3.2 Acquisitions
11.3.3 Agreements
11.3.4 Partnerships
11.3.5 Expansions
11.3.6 Investments
12 Company Profiles
12.1 Stratasys Ltd.
12.2 3D Systems Corporation
12.3 Renishaw PLC
12.4 Voxeljet AG
12.5 Sandvik AB
12.6 EOS GmbH Electro Optical Systems
12.7 Titomic Limited
12.8 Hgans AB
12.9 Materialise N.V.
12.10 The Exone Company
12.11 GE Additive
12.12 Carpenter Technology Corporation
12.13 Other Companies in the 3D Printing Metals Market
12.13.1 Wipro 3D
12.13.2 Proto Labs Inc.
12.13.3 LPW Technology Ltd.
12.13.4 Incredible AM Pvt. Ltd.
12.13.5 Pollen AM Inc.
12.13.6 Trumpf GmbH + Co. KG
12.13.7 GKN PLC
For more information about this report visit https://www.researchandmarkets.com/r/uvj5zi
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