3D Printing Metals Market

3D Printing Metals Market Size (2023-2028):

The 3D Printing Metals Market was valued to be USD 1,024.33 million in 2022 and is estimated to reach USD 5,159.4 million by 2028, progressing at a whopping CAGR of about 38.6% from 2023-2028

The 3D Printing Metals market is a fast-growing market in the current day world. The rise in demand for customized products is the reason for the highly prosperous growth of the 3D Printing Metals market. 3D printing metal is also called metal additive manufacturing. This is a manufacturing technology employed for the production of complicated structures and smaller designs. The introduction of 3D printing metal has assisted the makers in designing and developing complicated structures with ease that would not have been possible with traditional making techniques. 3D printing metal is a technology in which manufacturing is done layer by layer and therefore, the accuracy of the production is also escalated to a higher level.

What are 3D Printing Metals?

3D printing is also known as metal additive making. It is a manufacturing procedure mainly used in the production of complicated structures and tinier designs. The launch of 3D printing metal has assisted manufacturers in making complicated structures with more convenience, which was not possible with the use of traditional making techniques. 3D printing metal is a manufacturing technology in which making is done layer by layer, and therefore, the accuracy of the production is also escalated to a higher level.

 This method, most generally, needs only metal powder that can be employed to manufacture different parts and components as per the need of the producers. There are different machines that are suitable for making such complicated structures. Nevertheless, they must be worked under human supervision. The employment of powder metals for the manufacturing of products has helped manufacturers to utilize many kinds of minerals and their alloys. Hence, the permutation and combination of many metals have enabled businesses to produce products that are more durable, economical, and suitable to be employed for different industrial and commercial applications. This additive manufacturing procedure collects the powder in the reservoir, and then, according to the requirement, it deposits the metal powder on the making bed to form layers of the product. These layers generally have a thickness of 20 µm to 100 µm. Once the layers are correctly arranged and distributed, they are either collaborated or melted utilizing a high-energy beam. 

Recent Developments:

• Swedish binder jetting metal 3D printer maker Digital Metal has introduced two superalloys intended for utilization in extreme applications. The latest grades, named DM 247 and DM 625, were made in response to the rising demand for superalloy materials compatible with 3D printing in the aerospace, automotive, and industrial segments.  

• Intech Additive Solutions, an Indian business specializing in metal additive making, has revealed a new series of metal 3D printers, called the iFusion series. The metal AM systems are entirely made and manufactured at Intech Additive Solutions’ facility in Bangalore

3D Printing Metals Market Drivers:

The major factors driving the expansion of the global 3D printing metals market can be credited to the rising call for these metals from aerospace & defense and automotive end-use businesses, low manufacturing prices, and reduction in lead times. The rising application of 3D printing metal in the aerospace business is a significant factor in driving market expansion during the review period. The components employed in the manufacturing of aircraft need developed engineering materials and complicated geometries. 3D printing in the making of aircraft allows the fabrication of very cumbersome and lightweight structures. The high degree in terms of design has allowed the optimization of the parts and integration of functional features in one component. Also, 3D printing provides the preferred design in an attempt to decrease weight as well as improve the performance of the aircraft. For example, surface finish is significant in the aerospace business, 3D printing metals play a major role by offering high-surface finish parts. 

Potential Opportunities

The rise in the manufacturing of aircraft is estimated to fuel the expansion of the global 3D Printing Metals Market. With the increasing air passengers around the globe, there has been a tremendous demand for new aircraft, which indirectly creates an immense opportunity for the worldwide 3D printing metals business. Automotive is another promising vertical for these metals. The increasing desire for lightweight components to improve fuel efficiency and reduce carbon emissions in vehicles is supposed to fuel the expansion of 3D printing metals. The rise in the production of automobiles in both developed and developed nations is likely to accelerate the demand and therefore, increase the global 3D printing metals market size.

 Top Challenges in the 3D Printing Metals Market

 High prices of metal powder and industrial-grade printers are estimated to impede the expansion of the 3D printing metals market majorly

3D PRINTING METALS MARKET REPORT COVERAGE

3D Printing Metals Market segmentation as per the research report until 2028.

3D Printing Metals Market – By Offering

• Printer

• Material

• Software

• Service

Among the mentioned offerings, the service sector is calculated to have the highest share of the market by the end of the financial year of 2019. The expected growth is due to the projected increase in demand for custom design and the manufacturing segment of the market. This is where 3D Printing Metals comes in handy as it cuts down the cost of customized products to the minimum and also in as little as no time. The 3D market is mainly expanding in verticals like healthcare, aerospace, and automobile industries, which help them in solving problems that are left unsolved by traditional methods. 

3D Printing Metals Market – By Process

• Material Extrusion

• Binder Jetting

• Direct Energy Deposition

• Powder Bed Fusion

• Material Jetting

Of the mentioned processes, the bed fusion process is projected to be the fastest-growing segment, which had the largest share of the revenue generated in the 3D Printing Metals market in 2019. This process is mainly used in the aerospace, engineering, and automobile verticals of the end user.

3D Printing Metals Market – By Region

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

The North America and European regions have the presence of all industrial and commercial segments alongside the presence of major worldwide players that is a blessing for the 3D Printing Metal market in these regions. The fast industrialization in the Asia Pacific region, particularly in China and India, is expected to boost the expansion of the Asia Pacific 3D Printing Metal market. Businesses and manufacturers are striving to decrease scrap rates in their operating plants, and with the employment of 3D printing metal technology, they are also efficiently doing it. Hence, the market is estimated to grow in the coming future. The employment of 3D printing metal products in customer goods is becoming easier and more economical due to the latest inventions and advances being made in this technology. Hence, it is estimated that the 3D Printing Metal market will see fast expansion in all the developed and growing countries in the future.

Europe's 3D printing metals market is expected to be the quickest revenue contributor in the world by 2026. Rising aviation business due to low fuel cost is boosting the call for new aircraft that, in turn, can offer a fillip to the regional market. In Central & South America, fast industrialization, supportive government rules, and increasing trend of adopting new technologies are factors estimated to boost the demand for 3D printing metals. In April 2015, MakerBot partnered with Distance to offer 3D printing solutions in order to leverage the strong local presence and logistics capabilities of the firm in the region.

3D Printing Metals Market key players:

1. 3D Systems (U.S.),
2. EOS GmbH (Germany),
3. Arcam AB (Sweden),
4. Materialise (Belgium),
5. Autodesk, Inc. (U.S.),
6. Stratasys Ltd. (Israel),
7. SLM Solutions (Germany),
8. EnvisionTEC (Germany),
9. The ExOne Company (U.S.),
10. G.E. Additive (U.S.),
11. Hoganas AB (Sweden),
12. Made In Space, Inc. (U.S.),
13. Optomec, Inc. (U.S.),
14. Organovo Holdings, Inc. (U.S.),
15. Sisma S.p.A. (Italy),
16. Ponoko Ltd. (New Zealand),
17. Solidscape, Inc. (U.S.),
18. Mcor Technologies Ltd. (Ireland),
19. Voxeljet AG (Germany),
20. ProtoLabs Inc. (U.S.),
21. Citim GmbH (Germany)