Dublin, November 30, 2021 (GLOBE NEWSWIRE) – The 3D Printing Metals Market Size, Share and Trend Analysis Report by Product (Titanium, Nickel), by Shape (Filament, Powder), by Application (Aerospace & Defense, Medical & Dental) , by region and segment forecast, 2021-2028 “ the report was added to ResearchAndMarkets.com offer.
The global 3D printing metals market is expected to reach USD 2.36 billion by 2028, growing at a CAGR of 25.7% during the forecast period. The market growth is driven by the profitability of 3D printed parts, reduced delivery times and the development of complex parts during production.
The potential cost savings are the major factor driving the market growth in the aerospace and defense end use industry. For example, in November 2018, Lockheed Martin, a US-based global aerospace and defense company, announced that due to 3-dimensional printed parts, the price of its F-35 Full Mission Simulator unit ( FMS) and saved nearly $ 45 million.
The aviation industry is growing due to an increase in the number of frequent fliers and new travelers. The aviation industry is adopting three-dimensional technology to meet the growing demand. Nickel and inconel being suitable metals which have excellent mechanical and fatigue strength, they are increasingly adopted for the aviation industry. As both nickel and nickel alloys are compatible with three-dimensional printing in various industries, the market is likely to be the driving force.
Until very recently, the complexity and high cost of metal three-dimensional printers limited the use of additive manufacturing to high volume, low value parts. Prices for SLM and DSLM printers start at $ 400,000 and can go over $ 1,000,000 and also require carefully controlled environments and highly skilled workers. This market has seen several investments in the recent past. For example, in 2016, GE acquired two key metal fabrication companies, Arcam and Concept Laser. Various venture-backed companies are working to develop low-cost production techniques and affordable three-dimensional printing applications.
Highlights of the report
- In terms of revenue, Asia-Pacific is expected to remain the second regional market during the forecast period.
- The growing number of small businesses along with the growing adoption of 3D printed parts by OEMs are expected to play a crucial role in the growth of the market.
- Titanium accounted for the highest revenue share of over 41% in 2020. Properties such as high fatigue resistance, strength to weight ratio and excellent corrosion resistance have a key role in boosting of the demand for titanium.
- In terms of revenue, the medical and dental applications segment is expected to grow at the fastest CAGR from 2021 to 2028.
- Growing health awareness, the development of new alloys for medical applications, and the ability of three-dimensional printing to personalize parts are expected to be key factors in the growth of this segment.
Key topics covered
Chapter 1. Methodology and scope
Chapter 2. Executive summary
Chapter 3. Variables, Trends and Scope of 3D Printing Metals Market
Chapter 4. 3D Printing Metals Market: Forms of Estimate and Forecast Outlook
Chapter 5. 3D Printing Metals Market: Estimates and Forecast Product Outlook
Chapter 6. 3D Printing Metals Market: Application Outlook Estimates and Forecast
Chapter 7. Regional Outlook Outlook and Estimates of the 3D Printing Metals Market
Chapter 8. Competitive analysis
Chapter 9. Company Profiles
- Arca AB
- Exone GmbH
- 3D Systems Corporation
- Materialize NV
- Renishaw PLC
- Hoganas AB
- Voxeljet SA
- Carpenter Technology Company
- GKN API
- Sandvik AB
- LPW Technology Inc.
- Concept Laser GmbH
- Optomec inc.
- EOS GmbH Electro-optical systems
For more information on this report, visit https://www.researchandmarkets.com/r/nieagv