3D printing metal additives are used in the manufacturing process to create components, spare parts, and other products. 3D printing is a technique used for the creation of small and complex designs. Metal 3D printing aids manufacturers in efficiently designing and constructing complex structures. Production is done layer by layer in this manufacturing process, which increases the accuracy of the final product significantly. Metal powder is widely used in this technology to create different components and parts to meet the needs of manufacturers.
There are a variety of technologically advanced 3D printing devices capable of producing a wide range of complex structures. The use of powdered metal in the production of different products allows manufacturers to use a variety of metals and alloys in a single product. As a result, combining different metals enables manufacturers to create a product that is more cost-effective, robust, and ideal for a variety of commercial and industrial applications.
Major Trends and Developments in 3D Printing Metal Market
A rise in requirement for high-precision engine parts in the aerospace industry has fueled demand for 3D printing metals. The accessibility of the latest metals for prototyping, increasing investments for new product development, and growing need for dental implants are driving the market growth. The increasing application of 3D printing metals in the automotive industry is emerging as a key driving factor for the market. Owing to excellent design stability, cost-efficiency, and low waste in the overall production environment, the rising use of 3D printing metal is augmenting the market growth.
The market is classified on the basis of form into filament and powder. The Powder segment is expected to have the highest CAGR in the years to come. High-density products with complex geometries can be made with metal powder, which is used to make engine parts and components. These metal bits are often made of a spherical shape, and the powder form determines the final product’s density and mechanical properties, as well as ensuring layer consistency. As a result, the demand for powder type has increased as the demand for 3D printed products with high density and tremendous strength has risen.
North America Led the Global 3D Printing Metal Market
The North American market for 3D printing metal is expected to account for the largest revenue share owing to the increasing use of 3D printing metal in the aerospace & defense and automotive industries. The Asia-Pacific region accounted for a significant portion of the market and is expected to grow at the fastest rate in the near future. Increased investment in the building and construction, healthcare, and consumer electronics industries is expected to drive regional market growth.
China is the world’s largest manufacturer and purchaser of 3D printing metal. The presence of developing countries such as India and China has helped the growth of the industry in Asia-Pacific. The key reason for the rapid growth of the 3D printing metals market is that major economies are rapidly growing in terms of population and economy, resulting in increased per capita consumption.
Deep-dive Insights on 3D Printing Metal Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/3d-printing-metal-market/request-for-sample