The global 3D printing metal market is expected to grow at a significant CAGR during the forecast period. The factors that affect the global 3D printing metal industry include the increase in demand for 3D printing and rising applications in the aerospace and defense sector. Also, it has several benefits due to which the 3D printing metal is in demand, metal 3D printing processes are utilized for the manufacturing of complex designs, and that traditional manufacturing methods are unable to produce. These are also optimized to maximize their performance and lessening the weight and the total number of components in an assembly.
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Further, the metal 3D printed parts possess great physical properties, thus these all contribute to the growth of the3D printing metal market during the forecast period. However, the factor that restricts the growth of the market includes the high costs of material and manufacturing as compared to the traditional methods manufacturing of metal. Also, in 3D printing processes, the precise manufacturing conditions and process control are required as the build size of the metal 3D printing systems is limited. And the existing designs are not appropriate for metal 3D printing. Therefore, these factors hamper the growth of the market.
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Based on the application, the aerospace & defense segment is expected to hold a significant share in the market. This is attributed to the huge amount of 3D printed metals consumed for the aircraft manufacturing and in the aerospace and defense sector. Moreover, due to the high accuracy and precision, metal 3D printing is utilized to print huge and heavy aircraft components. The accessibility of new materials for tooling and prototyping along with the high investments for new product development considerably contributed to the market growth in several industry verticals including automotive, medical & dental, and others during the forecast period.
Further, the market players operating in the global 3D printing metal market include Carpenter Technology Corp., EOS GmbH Electro Optical Systems, 3D Systems Corp., TRUMPF GmbH + Co. KG, Equispheres, Inc., General Electric, Co., and Höganäs AB among various others. These players mainly focus on various strategies in order to remain competitive in the market. Strategies such as mergers & acquisitions, partnerships & collaborations, product launch, geographical expansion among others are majorly adopted by the market players. Additionally, in order to cope up with the on-going technological advancements in a similar industry, the market players are also focusing on their R&D activities. For instance, in November 2018, 3D systems launched DMP Flex 350 and DMP Factory 350, a metal 3D printing platform used for the production of critical components for industrial applications such as aerospace, healthcare, and transportation.
The Report 3D Printing Metal Market – Segmented by Type and Application
By Type
- Titanium
- Nickel
- Steel
- Aluminum
- Others
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