VANCOUVER, BC, Aug. 4, 2021 /PRNewswire/ -- The global 3D printing metal market size is expected to reach USD 5,739.0 million in 2027 at a CAGR of 28.4% during the forecast period, according to the latest analysis by Emergen Research. Increasing demand for cost-effective, lightweight, and durable materials from the aerospace and defense and automotive sector has boosted the usage of 3D printing and is a key factor expected to drive market revenue growth over the forecast period. In addition, increasing flexibility of design and production, easy fabrication of intricate and lightweight components, and deployment of 3D printing metal for prototyping are some other key factors expected to drive revenue growth of the market going ahead.
Metal 3D printing enables direct manufacturing of complex end-use components, facilitates manufacturing tooling, and reduces expenditure and lead times. The technology is an efficient combination of design flexibility offered by 3D printing and robust mechanical properties of metals. 3D printing metal can boost the production of parts with a drastic reduction in costs and efforts as compared to conventional manufacturing processes, even during low- to mid-volume production runs. Lightweight and intricate components produced through 3D printing provide enhanced strength and durability to aircraft and improve fuel efficiency. More and more industries and manufacturing firms are leveraging 3D printing technologies to design and develop unique components. This trend is expected to continue going ahead and contribute to revenue growth of the market.
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However, high costs of premium metals such as titanium and increasing challenges faces by 3D printing for mass and serial production are expected to hamper market growth to a certain extent over the forecast period.
Some Key Highlights in the Report:
- Powdered segment is expected to account for largest revenue share in the global market over the forecast period owing to numerous benefits of powdered form such as spherical morphology and high packing strength. High-quality metal powders can be used to manufacture customized parts for various end-use applications.
- Titanium segment revenue is expected to expand significantly over the forecast period attributable to increasing advantages of 3D printing titanium such as production of lightweight, durable, and corrosion-resistant structures that can be used to maintain integrity and boost fuel-efficiency of the aircraft. Jet engines, gas turbines, and body structure parts are some components than can be produced by 3D printing titanium.
- Aerospace and defense segment accounted for a 46% revenue share in the global market in 2019 and is expected to register significant revenue growth over the forecast period. Revenue growth of the segment can be attributed to increasing application of 3D printing metal parts to produce lightweight and intricate components for aircraft, to ensure minimum wastage of metals, and substantial reduction in manufacturing costs.
- Asia Pacific is expected to register significant revenue CAGR of 30.3% over the forecast period owing to robust presence of key manufacturing firms, progress of automotive sector, implementation of favorable government regulations and policies, and increasing investment to accelerate 3D printing R&D.
- Some major companies in the market include 3D Systems Corporation, ExOne GmbH, Hoganas AB, Arcam AB, Materialise NV, Voxel Jet AG, GKN PLC, Equispheres, Renishaw PLC, and Carpenter Technology Corporation, among others.
- In July 2021, Amace, which is a Bangalore-based subsidiary of machine tool company Ace Micromatic Group, unveiled its first metal 3D printer called the ALM-400. The printer has been designed for both functional prototyping and series end-use production. The launch of this product is expected to expand the footprint of Amace in both Indian and international markets.
- In July 2021, metal 3D printing startup, Fabric8Labs announced it raised USD 19.3 million in a Series A round of funding that was spearheaded by Intel Capital. The funding will be used to boost the development of its technology and demonstrate its ability to 3D print high-resolution copper fragments.
- In July 2021, a globally leading firm specializing in metal 3D printers, ExOne opened a new Metal 3D Printing Adoption Center at Germany, the company's headquarter in Germany. The new center offers end-to-end engineering solutions for direct metal 3D printing inclusive of design support, raw materials, and process, among other services.
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For the purpose of this report, Emergen Research has segmented the global 3D printing metal market on the basis of form, metal type, technology, industry vertical, and region:
Form Outlook (Revenue, USD Million; 2017-2027)
- Filament
- Powder
Metal Type Outlook (Revenue, USD Million; 2017-2027)
- Titanium
- Nickel
- Aluminum
- Stainless Steel
- Others
Technology Outlook (Revenue, USD Million; 2017-2027)
- Powder Bed Fusion
- Directed Energy Deposition
- Binder Jetting
- Metal Extrusion
- Others
Industry Vertical Outlook (Revenue, USD Million; 2017-2027)
- Aerospace & Defense
- Automotive
- Medical & Dental
- Marine
- Others
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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