Metal Powders For 3D Printing Market Analysis (2023 - 2030)
The Metal Powders for 3D Printing Market size was valued at over $345 million in 2021 and is anticipated to grow with a healthy CAGR of 21% during the forecast period of 2022 and 2027.
Even though thermoplastics drew the most attention when metal powders 3D printing first began, the range of 3D material options continues to expand. The industry is likely to develop due to advancements in metal powders for 3D printing technology. Additive Manufacturing (AM) technology, which uses metals, earthenware manufacturing, glass, composites, plastics, paper, and bio-inks for printing, is also driving the 3D printing metal market expansion. NASA announced the successful testing of an igniter made of various metal alloys in 2017. This bi-metallic capability has the potential to reduce rocket motor prices by 33% and manufacture time by half. Metals and metal combinations have advanced in AM and 3D printing in numerous applications.
The pandemic-related lockdown forced the major manufacturing sectors to shut down their activities. During the pandemic, the restriction caused a supply chain crisis, since there was a manpower scarcity, raw material shortages, and the localized shutdown of a few production plants slowed overall market growth. However, due to the relaxation of restrictions and the resumption of R&D and production operations, the market is expected to bounce back and gain speed in the future years. All of these factors are promoting market expansion over the forecast period.
Growing health concerns among the elderly increased chronic illness prevalence and stringent regulations for the medical device industry should all contribute to market expansion. The use of metal powders for 3D printing in the medical sector has grown in response to rising worries about sports-related face injuries and dental implants. Over the forecast period, the existence of enterprises using metal powders for 3D printingto obtain a competitive advantage and attain design flexibility would raise product demand.
Key Market Insights:
- Platinum material sales topped $ 58 million in 2021, with a CAGR of 11.5 percent poised during the projection period. The growing use of platinum in laboratory equipment, catalytic converters, platinum resistance thermometers, electrical contacts & electrodes, dentistry equipment, and jewelry is projected to boost the market during the forecast period. Additionally, the increased use of other precious metals in ornaments, such as gold and silver, is estimated to drive the additive manufacturing using metal powders market sales over the forecast period.
- The increased demand for metal powders for 3D printed parts from the aerospace and defense and automotive end-use industries is fueling the expansion of the titanium segment. Titanium has great impact and high-temperature resistance, for example. In the medical and dental end-use industries, titanium is used to make orthopedic and dental implants, as well as prosthetic knee and hip replacements.
- Due to fast-increasing industries such as aerospace and defense, healthcare, and automotive, the worldwide 3D printing metal market is likely to increase significantly soon. During the forecast period, metal materials are likely to top the market in terms of growth rate. The high cost of procedures and materials, on the other hand, is projected to limit market expansion.
- During the forecast period, the Asia Pacific metal powders for the 3D printing market are estimated to develop at the fastest rate. In the Asia Pacific area, China is now estimated to be the largest market for metal powders for 3D printing. Several growth methods are being used by the established metal printer and powder manufacturers in North America and Europe to extend their footprint in the Asia Pacific area.
- 6K Additive, a manufacturer of industrial materials for 3D printing, announced the commercial introduction of a new set of refractory metal powders for additive manufacturing in September 2021. Refractory metals are a type of material distinguished by their high heat and wear resistance. They all have similar qualities, such as melting points above 2000°C and excellent room-temperature hardness. They're also chemically inert and have high densities, which makes them ideal for high-stress components.
- 3D Systems joined the US Army for virtual design and validation projects in February 2021. To boost overall system performance and maximize cooling, the corporation will endeavor to develop a component related to an army modernization product. This initiative is designed to boost the company's brand value and increase market revenue for metal powders for 3d printing.
MARKET SEGMENTATION
By Type
- Alloy
- Titanium
- Cobalt
- Aluminum
- Nickel
- Other
- Precious Metal
- Stainless Steel
- Austenitic Steel
- Martensitic Steel
- Duplex steel
- Ferritic Steel
- Other
- Tungsten
- Silicon carbide
- Aluminum oxide powder
- Zirconium
- Others
By Application
- Aerospace Defense
- Automotive
- Healthcare
- Oil & gas
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Rest of the World (Middle East, Africa, and South America)
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