The Global 3D Printing Metal Market is anticipated to reach USD 3.06 billion by 2026 according to a new study published by Polaris Market Research. 3D printing (3DP) metals have witnessed significant market growth due to its large industrial applications. These metals are used in the additive manufacturing technologies such as 3D printing due to their superior characteristics such as lightweight and high strength, with few of them having very high resistivity to corrosion.
3D printing metals is a part of overall 3D printing industry, that is currently an attractive market due to increased focus by major industrial companies, specialized 3D printer vendors, 3D printing service bureaus, software vendors, professional service providers, and other marketplace providers. Aerospace & defense industry is at the forefront for driving the global 3DP metals market. This technology results in lighter, faster, less wasteful, and high yields as compared to the traditional materials and technologies. Moreover, high value production is a typical scenario for different requirements of this industry, thud 3DP metals manufacturing is an articular appeal to small, medium-sized, and big conglomerates alike.
Medical industry also contributes substantially to the growth of 3D printing metals market. This is largely used in the production of hearing aids in the medical segment. As the global health industry focuses on improving quality, reducing costs, and becoming patient-centric, the technological advancements in the 3D printers play a significant role here.
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One of the most interesting aspects for the 3DP metal industry includes an appealing scenario for both the suppliers and operators. Potential opportunity for reduced cost to supply aftercare services is a potential opportunity for the suppliers. Reduction in the transportation costs, potential to use analytics for the consumption of spare parts, and shortening the development and retooling process are some of the most significant aspects of this industry landscape.
Different types of metals are used in the manufacturing process depending on the end-user’s requirements. Titanium is anticipated to witness fast growth over the forecast period to its excellent properties concerning precision in production and superior characteristics over other metal types.
North America is the dominant and mature market for 3D printing metals market with United States as the major contributing nation. Asia Pacific is expected to witness a substantial faster growth during the forecast period due to its expanding manufacturing industry, high R&D investments by large market players in China, South Korea, and Japan, and supportive government policies.
The global 3D printing metals market comprises of large number companies and is a highly consolidated industry. Some of the key companies include 3D Systems Corporation, Arcam AB, Materialise NV, ExOne GmbH, Hoganas AB, Renishaw Plc, Equispheres, Carpenter Technology Corporation, and Sandvik AB.