3D Printing Metalshas wide applications in the aerospace, automotive, construction, defense, and medical industries it’s growing applications in lightweight engineering products is anticipated to grow in all the industrial and manufacturing sectors. The 3D metal printing is prominently used in the aerospace & defense industry owing to rapid prototyping and manufacturing speed offered by 3D printing. Furthermore, the rising number of applications for additive manufacturing in medical & dental, oil & gas, and educational fields among others present lucrative opportunities for product penetration.
The high investments in research and development activities and recent technological trends that denote the development of advanced and better-quality products such as Inconel powder are contributing to the growth of the market.
“Global 3D Printing Metals Market was Valued at US$ 345.4 Mn in 2018 And it is Expected to Reach More than US$ 3896.3 Mn by 2027, Likely to Grow with the CAGR of 14.3% During the Forecast Period”
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Powder form segment held the largest share in 2018. It is accounted for nearly 95% of the overall revenue. The powder form of the metal has the ability to form high-density products with complex geometries, which are used to manufacture engine parts and components. An increase in the demand for these products has increased the demand for metals in the powder form. Furthermore, the rising utilization of powders in pure metal equipment manufacturing is likely to encourage market players to invest in this segment. The availability of powders in pure metal form has backed the demand from aerospace, automotive, and medical industries.
The medical & dental application segment is anticipated to expand at a significant growth rate by revenue over the forecast period. Increasing applications of 3D printing in the healthcare industry coupled with shorter supply chain advantages for products associated with critical operations are likely to contribute to the growth of the segment.
Asia Pacific is likely to progress at the fastest CAGR of 33.1% in terms of value during the forecast period owing to rapid industrialization in emerging economies across the region. The promotion of private investments by various governments is boosting the manufacturing sector along with the rising investments from governments and private institutions in 3D printing metals are playing a pivotal role in the development of the regional market.
The 3D Printing Metals market is competitive in nature as an increasing number of players are entering into the market. Some of the key players in the global 3D Printing Metals Market are Voxeljet AG, Sandvik AB, EOS GmbH Electro Optical Systems, 3D Systems Corporation, Stratasys Ltd., Renishaw plc, General Electric Company, Carpenter Technology Corporation, Materialise NV, Proto Labs, Inc., and The ExOne Company
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
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e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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