Additive Manufacturing with Metal Powders Global Market Report 2022: Demand from the Aerospace Industry Bolsters Growth

DUBLIN, March 28, 2023 /PRNewswire/ -- The "Additive Manufacturing with Metal Powders Market Size, Share, Trends, By Product, By Technology, By Application , and By Region Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

The market size of Additive Manufacturing (AM) with metal powders was valued at USD 42.52 Billion in 2021, with a projected revenue CAGR of 6.0% during the forecast period.

The growth in revenue is primarily driven by the rising demand from the aerospace and automation industry and the increasing focus on technological advancements in the medical industry. Additive manufacturing is an industrial version of 3D printing technology that uses 3D modeling software, machine equipment, and layering material to create 3D objects.

Metal additive manufacturing is the practice of adding material during the production process to create metallic components, usually layer by layer. This technology has seen significant growth in the aerospace industry due to its potential for commercial and performance gains. The main advantages of metal additive manufacturing in aerospace applications include significant cost and lead-time savings, novel materials and design approaches, mass reduction of components, and consolidation of multiple components for improved performance or risk management .

The use of Electron Beam Melting (EBM) is a recent trend in the market that can be utilized to reduce production costs, cycle times, and weight. This technology is heavily used in producing complex aerospace and automotive parts such as turbocharger wheels, pump impellers, and turbine blades. It is expected that EBM technology will become even more popular in the aerospace and healthcare sectors.

Another recent trend is the use of Direct Metal Laser Sintering (DMLS), which is used to create inexpensive, high-quality, and multipurpose products to meet the constantly shifting needs of consumers. Many businesses competing in the market for metal powder additive manufacturing are focused on reducing product cycle times to improve the development process. Currently, the majority of aircraft industries are using direct metal procurement.

Market Dynamics:
Driver: Increasing instances of automation production is a key factor driving market growth

Market dynamics analysis reveals that the increasing instances of automation production are driving the growth of the additive manufacturing with metal powders market. The use of additive manufacturing in the automation sector, including robotics and automobiles, is providing a significant competitive advantage by cutting down on manufacturing time, increasing operational flexibility, and offering customized products on demand. Additive manufacturing requires less setup time, no tooling for producing prototypes and small quantities of goods, and less storage space and administrative support for spare parts and tools, resulting in lower overhead costs. Thus, the rising demand for additive manufacturing with metal powders is expected to drive market revenue growth.

Restraint:Technological limitation, post-processing, and time constraints is restraining market growth

However, the market growth is being restrained by technological limitations, post-processing requirements, and time constraints. Post-processing is needed to address quality issues caused by layering and multiple interfaces in additive manufacturing, which can result in subpar surface finishes and dimensional accuracy compared to conventional manufacturing processes. Despite the technology being in existence since the 1980s, additive manufacturing is still a specialized technique due to its slow build rates and limited capacity to produce large quantities of parts, which can take up to three hours to produce a shape that conventional techniques can manufacture in seconds. As a result, achieving economies of scale is difficult .

Product Insights:

Under the product segment, the market is divided into plastic, metal, and alloy. The metal segment is expected to have a rapid revenue growth rate during the forecast period, particularly in the aerospace industry where AM can produce intricate, sturdy, and lightweight parts that were previously difficult and costly to manufacture. Meanwhile, the alloy segment is expected to have increasing popularity due to the availability of Directed Energy Deposition (DED) and Powder Bed Fusion (PBF)-based Additive Manufacturing (AM), allowing for the development and assessment of new alloys at a lower cost and shorter lead time.

Technology Insights:

Under the technology segment, the market is divided into laser-based powder bed infusion and blown powder. The laser-based powder bed infusion is expected to have a rapid revenue growth rate during the forecast period, as this technology creates components layer by layer using a laser beam to melt a thin powder coating. On the other hand, the blown powder segment is expected to have increasing popularity, particularly in Directed Energy Deposition (DED) using blown powder to produce structures or clads with a strong metallurgical bond to substrate or between layers.

Application Insights:

Under the application segment, the market is divided into aerospace, automotive, medical, energy & utilities, and oil & gas. The aerospace segment is expected to have a rapid revenue growth rate during the forecast period, as AM is most popular for construction of individual aircraft components that require suitable mass and cost savings without sacrificing mechanical properties. Similarly, the automotive segment is expected to have a rapid revenue growth rate as metal additive manufacturing has been effectively adopted by the industry for prototyping, producing few functioning parts, and improving performance of both products and processes.

Regional Insights:

The Asia Pacific market is predicted to have the largest revenue share during the forecast period, mainly due to key market players' increasing activities in the region. For instance, Changsha Tijo Metal Material Co., Ltd. (TIJO) from China offers non-magnetic, corrosion-resistant nickel-base superalloy IN625 as a metal powder that has excellent toughness, fatigue strength, and can resist corrosion at high temperatures. IN625 is also claimed to have strong weldability in Laser or Electron Beam Powder Bed Fusion (PBF-LB and PBF-EB) AM techniques.

The North America market is expected to experience a rapid revenue growth rate during the forecast period due to increasing government activities and market players' initiatives. The National Institute of Standards and Technology (NIST) of the U.S. Department of Commerce has granted USD 3.7 million to support research on metals-based Additive Manufacturing (AM) to remove obstacles and promote 3D printing technologies' deployment.

The Europe market is expected to have a steady revenue growth rate due to key market players' increasing activities in the region. Thyssenkrupp Materials UK offers a comprehensive selection of metal powders, supply chain management, and post-printing services and is establishing itself as a one-stop-shop for metal additive manufacturing. The company's powders work with the majority of 3D printing equipment available in the market, serving industries such as aerospace, automotive, and medical sectors .

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary
2.1. Summary Snapshot, 2022-2030

Chapter 3. Indicative Metrics

Chapter 4. Additive Manufacturing with Metal Powders Market Segmentation & Impact Analysis
4.1. Additive Manufacturing with Metal Powders Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers' analysis
4.2.2.1. Rising demand from the aerospace and automation industry
4.2.2.2. Affordable manufacturing cost
4.2.2.3. High customer requirements
4.2.2.4. Increasing instances of automation production
4.2.3. Market restraints analysis
4.2.3.1. Technological limitation
4.2.3.2. Intellectual property issues

Chapter 5. Additive Manufacturing with Metal Powders Market By Product Insights & Trends

Chapter 6. Additive Manufacturing with Metal Powders Market By Technology Insights & Trends

Chapter 7. Additive Manufacturing with Metal Powders Market By Application Insights & Trends

Chapter 8. Additive Manufacturing with Metal Powders Market Regional Outlook

Chapter 9. Competitive Landscape

Chapter 10. Company Profiles

Companies Mentioned

• AP&C
• 3D Systems Inc.
• ATI
• AddUp
• Additive Industries
• Arconic
• General Electric
• Arcam
• CRS Holdings LLC.
• EOS.

For more information about this report visit https://www.researchandmarkets.com/r/nrcgh7

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