3D Printing Metal Market Size Expected to Hit USD 2.36 Billion by 2028 | Forecast and Competitive Landscape

Posted on 2022-06-28 by researchinsights in Technology // 0 Comments

San Francisco, California , USA, June 28, 2022 — /EPR Network/ —

3D Printing Metal Industry Overview

The global 3D printing metal market size is expected to reach USD 2.36 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 25.7% over the forecast period. The market growth is attributable to the cost-effectiveness of 3D printed parts, reduced lead times, and the development of complex parts during production.

The potential cost savings is the significant factor stimulating the growth of the market in the aerospace & defense end-use sector. For instance, in November 2018, Lockheed Martin, a U.S.-based global aerospace & defense company, announced that due to 3-dimensional printed parts, there was a reduction in the price of its F-35 Full Mission Simulator (FMS) unit and led to the savings of nearly USD 45.0 million.

Metal 3-dimensional printing has the ability to fabricate lightweight but strong structures, produce complex designs, and maintain small volumes. These factors extend its application scope in various end-use industries, such as medical, aerospace, automotive, and consumer products. The 3-dimensional printing technologies are subject to challenges including the consistency of quality, limited multi-material printing capabilities, narrow range of materials, high material costs, size, and scalability.

3D Printing Metal Market Segmentation

Grand View Research has segmented the global 3D printing metal market on the basis of form, product, application, and region:

Based on the Form Insights, the market is segmented into Powder and Filament.

The powder form segment accounted for the largest revenue share of more than 94% in 2020 of the global market. Metal powder particles have a number of prominent parameters that not only impact the additive build process but also affect the properties of the finished component.
The Filaments are typically a mix of metal and polymer, wherein the metal is coated with a layer of polymer including PLA and ABS. The producers are working on R&D to develop cost-effective technologies for printing with filament in comparison with the selective laser melting process. This is anticipated to push the demand for filaments over the forecast period.

Based on the Product Insights, the market is segmented into Titanium, Nickel, Stainless Steel, Aluminum and Others.

The titanium product segment accounted for the highest revenue share of over 41% in 2020 and is anticipated to grow at the fastest CAGR over the forecast period.
Stainless steel is projected to have significant demand over the coming years owing to its high potential in various industries as it has low carbon and high chromium content. Parts printed using stainless steel are lightweight, strong, and durable.

Based on the Application Insights, the market is segmented into Aerospace & Defense, Automotive, Medical & Dental and Others.

Aerospace & defense accounted for the largest volume share of over 40% in 2020. The ability to manufacture complex components in less time is forcing aerospace & defense players to invest in 3D printing.
The medical & dental application segment is expected to register the fastest growth of 28.7% in terms of volume, across the forecast period.3D printing is used to produce prosthetic limbs, implants, forceps, and hemostats in the medical industry.

3D Printing Metal Regional Outlook

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa (MEA)

Key Companies Profile

The global market is currently in the growth stage and holds huge potential owing to its rising penetration and adoption across different industries. The market is also witnessing rising investments from small companies. With the rising competition, merger & acquisition activities in the market are likely to increase over the forecast period.

Some prominent players in the global 3D Printing Metal market include

Arcam AB
ExOne GmbH
Carpenter Technology Corporation
Renishaw PLC
Materialise NV
3D Systems Corporation
Voxeljet AG
Sandvik AB
Hoganas AB
GKN PLC

Order a free sample PDF of the 3D Printing Metal Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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