“Global 3D printing metal market was valued at USD 450 million and is expected to reach more than USD 2 billion by 2029”, says Visiongain report
10 September 2019
Visiongain’s new report the 3D Printing Metal Market Report: Forecasts by Form (Powder, Filament), by Type (Titanium, Nickel, Stainless Steel, Aluminum), by Application (Aerospace & Defence, Automotive, Medical & Dental), by Region and Analysis of Leading Companies Operating in this Industry. In 2018, the global 3D printing metal market was valued at USD 450 million and is expected to reach more than USD 2 billion by 2029.
3D printing metal is also known as the manufacture of metal additives. This is a technology used in the manufacture of complicated constructions and smaller designs. The introduction of 3D printing metal has helped producers to easily design and create complicated structures that would not have been feasible without the application of standard production methods. 3D printing metal is a manufacturing technology in which production is carried out layer by layer, thus increasing the precision of production to a greater level as well.
Increasing demand for 3D metal printing is likely to increase product usage, particularly in aerospace & defense apps. Manufacturers are becoming progressively conscious of the significant reduction in costs and weights that 3D printers provide. The manufacturing industry, for example, is prepared to experience an upswing in the implementation of manufacturing-grade printing machines to increase profitability, decrease lead times and enhance product quality.
Reduced prices of 3D printers combined with the availability of sophisticated raw materials such as stainless steel powder in recent years have helped the industry gain momentum. Huge investments in R&D operations have facilitated component production, particularly in the aviation industry. In addition, the latest technological trends that indicate the development of sophisticated and better quality products like Inconel powder are expected to help the growth of the industry.
Increasing numbers of apps in medical & dental, petroleum & gas, and academic areas for additive production, among others, current profitable opportunities for product penetration. The ability to customize parts manufacturing through 3D printing has the ability to unlock fresh income streams in various apps. Therefore, over the forecast period, the market is expected to experience fast development. It is projected that increased investment in R&D operations by corporate organizations will fuel the use of metals in additive production. However, it is anticipated that the heavy costs of metal powder and industrial-grade printers will considerably impede the market growth.
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