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Metal Materials for 3D Printing Market By form type (powder and filament); By metal type (titanium, aluminum, nickel, stainless steel and others); By end user (medical, automotive, aerospace and defense and others); and Region -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2030
3D Metal printing is also known as metal additive production. This is a fabrication technique used to manufacture complex structures and smaller designs. The invention of 3D printing metal has helped manufacturers ease the design and construction of complex structures that would not have been possible without the use of traditional production techniques. 3D printing metal is a manufacturing technique in which processing is carried out layer by layer and, thus; output precision is often improved to a higher degree. Most generally, this technique needs only metal powder that can be used to manufacture different parts and components according to the producers' requirements. Special machines exist that are capable of generating such complex structures. They have to work under human control though.
The Metal Materials for 3D Printing Market size was registered at USD 0.727 billion in 2019 and is estimated to reach USD 11.39 billion by 2030, registering a CAGR of 28.4% from 2020 to 2030. The growth of the global demand for 3D printing metals is mainly due to their rising use in the aerospace and automotive industries.3D printing in aircraft manufacturing enables the manufacture of highly complex, lightweight structures. In the automotive industry, it helps design automotive components with complex geometries, which is difficult using conventional methods. Furthermore, the growing use of 3D printing metals in the healthcare industry in the manufacture of medical implants is also expected to fuel global market growth over the forecast period. It also helps design implants that suit the patient's anatomy perfectly; it is quicker and more affordable than conventional approaches.
Source: Fatpos Global
By form type, the market can be segmented into powder and filament.
Owing to substantial technological advancement in the field of metal printers, the powder segment is expected to rise significantly.
The metal type segment can be classified into titanium, aluminum, nickel, stainless steel, and others. Titanium is expected to be experiencing rapid growth due to superior mechanical properties, production precision, and early product acceptance in the aerospace and defense, and medical industries.
By end-user, the market can be segmented into medical, automotive, aerospace and defense, and others.
In the forecast period, the aerospace and defense sector will dominate the industry. Because of the wider variety of use in military aircraft, aircraft engines, commercial aircraft, complex weapon systems, weapons of high volume, and components of munitions. Due to the growing use of the technology in medical implants, medical instruments, and surgical equipment like crowns & bridges, model castings, and abutments, the medical sector also accounted for more than one-third of the 3D metal print industry.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
The growth of the global demand for 3D printing metals is mainly due to their rising use in the aerospace and automotive industries.3D printing in aircraft manufacturing enables the manufacture of highly complex, lightweight structures. In the automotive industry, it helps design automotive components with complex geometries, which is difficult using conventional methods. Furthermore, the growing use of 3D printing metals in the healthcare industry in the manufacture of medical implants is also expected to fuel global market growth over the forecast period. It also helps design implants that suit the patient's anatomy perfectly; it is quicker and more affordable than conventional approaches.
The high cost of the materials is expected to be the main factor that hampers global development. During the process, a large amount of energy is needed, and labor-intensive. Also, the extraction process is complicated and requires high energy consumption, leading to an increase in titanium prices. The titanium also has a high melting point, the temperature needed for this process is extremely high, and the conversion of the metal to ingots accounts for around 30 percent of the entire process’s cost which hinders the market growth.
With a large share, the Asia-Pacific market dominated the global demand for 3D printing metals and is projected to be the fastest-growing market during the forecast era. Growing investment in the region's building and development, healthcare, and consumer electronics industries is expected to propel regional demand growth over the forecast period. China is the world's leading producer and consumer of 3D printing metals. In Asia-Pacific, the market for 3D printing metals is relatively strong compared with other regions. Market growth for Asia-Pacific is also due to the emergence of developing countries like India and China. The main reason behind the growth of the market for 3D printing metals is that these countries are rising at a rapid pace in terms of population and economy, resulting in per capita consumption growth in the end.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Source: Fatpos Global
As more companies gain market access, the global market is experiencing greater competition. The advanced manufacturing supply chain is currently characterized by a large number of suppliers of 3D printers, while the availability of raw materials, such as powders, is lacking. The main strategy embraced by industry players is new product production through significant R&D investments.
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