ALBANY, New York, January 16, 2018 /PRNewswire/ --
The vendor landscape of theglobal 3D printing powder marketis being rapidly populated by a number of companies that traditionally manufacture powders for conventional industrial processes such as hot iso-static pressing (HIP), metal injection molding (MIM), and powder sintering (PS), observes Transparency Market Research in a recent report. With the rising set of applications for 3D-printed products and a lack of large players across the globe, the global 3D printing powders market is expected to emerge as a lucrative growth opportunity for local players and start-up companies.
With proactive investment and geographical expansion strategies, companies operating in the field of 3D printing powders can benefit from the scope of capturing opportunities in lucrative local and regional markets during the forecast period. Some of the leading companies in the market are Arcam AB, Advanced Powders and Coatings Inc., GKN plc, Carpenter Technology Corporation, Hoganas AB, Arkema, LPW Technology Ltd., Sandvik AB, Ltd., and Metalysis.
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According to the report, the global 3D printing powder market, which valued at US$313.7 mn in 2016, is estimated to rise to a revenue opportunity of US$1,558.9 mn by 2025, registering an impressive CAGR of 20.3% between 2017 and 2025.
North America, Plastic-based Powders Present Lucrative Revenue Opportunities
Geographically, the market for 3D printing powder in North America accounted for the dominant revenue share of over 38% of the global market in 2017. The regional market also shows immense potential in terms of future development and revenue opportunity over the report's forecast period. The region is considered a developed market owing to the presence of well-established infrastructure, technological superiority, and recovering economy, which enable 3D printing powder manufacturers to easily establish their presence in their respective local markets in these regions.
In terms of the materials used for manufacturing 3D printing powders, the segment of plastics presently dominates in terms of uptake and revenue opportunity. The segment is expected to remain the most preferred choice owing to its flexible nature when it comes to combination with other materials, availability of several blends of plastics that can easily suit a variety of end-uses, low-cost, and easy availability.
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Rising Set of Applications of 3D Printing to Work in Favor of Market
The massive rise in uptake of additive printing technologies for manufacturing products that have a vast set of uses spanning a number of industries in the past few years is one of the chief factors attributable to the healthy growth prospects that the global 3D printing powder market showcases. 3D-printed products are being increasingly used in industries such as defense, healthcare, medicine, energy, consumer goods, electronics, aerospace, and automotive. Steady expansion of these industries and greater strides achieved in the area of 3D printing - in terms of the finish, reliability, and qualitative value of the end-product possible with available machines and materials - are also faring well for the global 3D printing powder market.
Increased global uptake of 3D-printed products is acting as a massive encouragement for companies operating in the 3D printing powder market. Increased focus of companies on research and development activities with the view of introducing innovative, qualitatively advanced, and distinctive product varieties suiting the requirements of specific applications are also helping the market advance at a promising pace.
This review of the global 3D printing powder market is based on a recent market research report by Transparency Market Research, titled "3D Printing Powder Market (Product - Plastics, Metal (Stainless Steel, Cobalt, and Nickel), and Ceramic; Application - Automotive, Aerospace, and Pharmaceutical) - Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2025."
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The Global 3D Printing Powder market has been segmented as follows:
3D Printing Powder Market- By Product
- Plastics
- Metal
- Stainless Steel
- Cobalt
- Nickel
- Others
- Ceramic
- Others
3D Printing Powder Market - By Application
- Automotive
- Aerospace
- Pharmaceutical
- Others
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