Global 3D printing metal market is estimated to reach US $3.06 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
3D printing (3DP) metals are increasingly used in industries on account of their superior characteristics like lightweight and high strength. These metals are highly resistive to corrosion and are vital for the 3D printing industry which currently is witnessing increased focus from major industrial conglomerates, 3D printer vendors, software vendors, 3D printing service bureaus, professional service providers, and other marketplace providers.
With increasing application in additive manufacturing technologies, 3D printing metal industry will witness significant growth over upcoming years.
Based on application, aerospace & defense segment is slated to be at the forefront, driving global 3DP metal market. With 3D printing, industries can gain faster, lighter, low wasteful, and high yields compared to traditional materials and technologies. High value production from small, medium-sized, and large manufacturing conglomerates will further drive 3DP metal market in the forthcoming years.
Medical industry has also generated substantial growth prospects for 3D printing metal market. The product is widely used in the production of hearing aids. With the global health industry focusing on improving healthcare quality, reducing costs, and becoming more patient-centric, demand for technologically advanced 3D printers will grow significantly in the medical sector, fostering industry size.
3D printing metals market has generated new growth opportunities for suppliers, allowing reduced cost on aftercare services. Reduction in transportation costs, shortening of development and retooling process and potential to use consumption of spare parts are also some key factors that are driving 3D printing metal industry growth.
Based on material type, titanium segment is expected to witness rapid growth over the projected period. Due to excellent properties pertaining to precision in manufacturing as well as superior characteristics over other metal types, the material has gained immense traction in the 3D printing metal market.
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North America is dominating the global 3D printing metal market with U.S. as the major contributing nation. Asia Pacific is also expected to witness substantial business growth on account of expanding manufacturing sector, supportive government policies, and high R&D investments made by leading market players in China, Japan and South Korea.
Some key companies in the global 3D printing metal market include 3D Systems Corp., ExOne GmbH, Arcam AB, Materialise NV, Renishaw Plc, Hoganas AB, Carpenter Technology Corp., Equispheres, and Sandvik AB.
The company profiles are summarized in the report along with their product benchmarking, recent developments, business overview and financials. The report offers a brief synopsis of 3D printing metal market with respect to Porter’s five forces, industry trends, market forces, ecosystem analysis, competitive ranking analysis, and PEST analysis.