Current Market Scenario –
The manufacturing of 3D printing metal involves adding layers of materials to produce solid 3D objects; each layer can be seen as a thin sliced horizontal cross-section of the object. These metals help in producing complex shapes using less material as compared to traditional manufacturing methods. Manufacturers use 3D printers extensively in their design process to create prototypes; this method is called rapid prototyping. The 3D printing metals are used in aerospace, automotive, construction, medical device, and consumer electronic applications.
The growth of the global 3D printing metal market is driven by increasing use in the aerospace and defense industry to print high-strength, lightweight parts and prototypes that are fuel-efficient and financially viable. R&D and strategy formulations to develop low-cost prototypes and expand the application scope of 3D printing metals is slated to further bolster market growth. For instance, structural components are being manufactured using integrated titanium 3D printing. These metals also find application in military aircraft, complex weapons systems, high-volume weapons, and munition components. Additionally, the growing use of 3D printing metals in the automotive sector due to a focus on reducing vehicle weight to improve fuel economy is expected to provide lucrative opportunities to industry participants. Components such as interior panels and lower body parts are being produced using 3D printing. This has helped automotive manufacturers significantly reduce overall vehicle weight and increase fuel efficiency.
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Some of the key players in the global 3D printing metal market are Renishaw Plc (UK), Voxelget AG (Germany), 3D Systems Corporation (US), Carpenter Technology Corporation (US), GKN PLC (UK), EOS GmbH (Germany), LPW Technology (UK), Sandvik AB (Sweden), SLM Solutions GmbH (Germany), Optomec (US), Höganäs AB (Sweden) and Concept Laser GmbH (Germany).
The global 3D printing metal market has been segmented by technology, application, and region.
On the basis of technology, the market has been segregated into vat photopolymerization, material jetting, binder jetting, material extrusion, powder bed fusion, sheet lamination, and directed energy deposition.
Based on application, the global 3D printing metal market has been divided into aerospace and defense, automotive, healthcare, consumer electronics, building and construction, and others.
The global 3D printing metal market has been segmented, by region, into Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Study Objectives of 3D Printing Metal Market
- To provide detailed analysis of the market structure along with forecast for the next 6 years of various segments and sub-segments of the Global 3D Printing Metal Market
- To provide insights about factors affecting the market growth
- To analyze the Global 3D Printing Metal Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, APAC, and Rest of the World (ROW)
- To provide country level analysis of the market with respect to the current market size and future prospective
North America accounted for the largest share of the 3D printing metal market in 2018; the regional market is expected to exhibit significant growth during the review period. Technological advances and innovation in the aerospace and defense industry to strengthen military power are projected to drive market growth. The rising demand for fuel-efficient military aircraft and economically viable munition components with longer shelf life is projected to positively influence the growth of the market during the forecast period.
The Middle East & Africa is likely to emerge as a key market for 3D printing metals on account of the expanding end-use industries such as automotive, infrastructure, and healthcare. Siemens AG and Strata Manufacturing PJSC partnered with Etihad Airways, the second-largest airline in the UAE, to expand the use of 3D printing technology in the Middle East and North Africa and help the airline to improve designs.
Europe is the second-largest market for 3D printing metals due to the established automotive industry increasing funding for 3D printing; a major funding source is the European Union’s Seventh Framework Programme for Research And Development. Market growth is influenced by expanding rapid prototyping services across in the region.
Asia-Pacific is expected to be the fastest growing market for 3D printing metal owing to economic growth and rapid industrialization driving the growth of major end-use industries such as automotive, medical devices, and aerospace and defense.
There has been considerable growth in the Latin American market with the growing aerospace industry in Brazil and Mexico. Brazil being one of the largest producers of commercial jets in the region is set to drive market growth during the forecast period.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
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