The Global Metal 3D Printing Market is mainly driven by the increasing utilization of these substances in diverse high-temperature engineering applications, appreciably in the aerospace and automobile industry.
JERSEY CITY, N.J., Nov. 22, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Metal 3D Printing Market" By Form (Powder, Filament), By Type (Titanium, Steel, Nickel, Aluminum), By End-user (Medical And Dental, Automotive, Aerospace And Defense), and By Geography. According to Verified Market Research, the Global Metal 3D Printing Market size was valued at USD 534.18 Million in 2020 and is projected to reach USD 4458.76 Million by 2028, growing at a CAGR of 30.38% from 2021 to 2028.
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Global Metal 3D Printing Market Overview
The Global Metal 3D Printing Market is mainly driven by the increasing utilization of these substances in diverse high-temperature engineering applications, appreciably in the aerospace and automobile industry. In the aerospace and defense segment, corporations are unexpectedly making progress through diverse joint ventures and alliances. The massive investments in research and development activities and the latest technological trends that suggest the growth of advanced and better-quality products such as Inconel powder are also contributing to the growth of the marketplace.
Moreover, the expiry of patents for selective laser, huge customization, alongside the adoption of 3D printing throughout new forms is a few other factors driving the Metal 3D Printing Marketplace. Furthermore, the Metal 3D Printing Marketplace is determined to develop since the governing authorities are pressing the producers to use products, that are more eco-friendly and use the least number of natural resources during the manufacturing method. Metal 3D Printing Market has a lot of scope in the research and development department since the researchers and scientists are arising with exclusive metal and software that are more powerful and economical.
However, the requirement for high-grade raw substances, the high initial price of 3D printers and substances, and processing complexities for powder producers are the factors hampering the market for the Metal 3D Printing Market. Moreover, discovering the best layout parameter is tough in the case of 3D printing. Also, 3D printing technology has its limitations in the stages of manufacturing large parts. These factors are probably restricting the Global Metal 3D Printing Market through the forecast period. Nevertheless, growing the utility of 3D printing metals in the healthcare industry in the production of clinical implants is also anticipated to provide lucrative opportunities for the market during the forecast period.
Key Developments
- In May 2021, 3D Systems Announces Acquisition of German software firm, Additive Works GmbH to expand simulation capabilities for rapid optimization of industrial-scale 3D printing processes.
- In September 2021, ExOne launches X1 Tooling, a new portfolio of 3D printed tooling options for manufacturers looking for fast, affordable and local production of tools for the final production of plastic, composite and metal parts.
Key Players
The major players in the market are 3D Systems Corporation, EOS GmbH Electro Optical Systems, The Exone Company, Stratasys Ltd., Sandvik AB, Renishaw PLC, Materialise NV, Höganäs AB, Titomic Limited, and Voxeljet AG.
Verified Market Research has segmented the Global Metal 3D Printing Market On the basis of Form, Type, End-user, and Geography.
- Metal 3D Printing Market, By Form
- Powder
- Filament
- Metal 3D Printing Market, By Type
- Titanium
- Steel
- Nickel
- Aluminium
- Others
- Metal 3D Printing Market, By End-User
- Medical & dental
- Automotive
- Aerospace & defense
- Others
- Metal 3D Printing Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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