The report predicts the global 3D Printing Metals Market to grow with a CAGR of 26.4% over the forecast period from 2022 to 2031.
3D Printing Metals Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2031
Discovered in the 1980s, three-dimensional printing, commonly known as additive manufacturing, has drastically changed the perception of the manufacturing process. The 3D printing technology uses a printer and a digital file to produce objects. The digital file is technically known as computer-aided design and is made according to the print requirement, materials type, and printer used to manufacture the printed product. According to material type, the market is majorly divided into plastics, photopolymers, metals, ceramics, and others that include metal-plastic composites and carbon fibers.
Further, the metal segment of the 3D printing metals market is divided into precious metals (titanium, gold, silver, platinum, etc.), commodity metals (aluminum, copper, stainless steel, etc.), and alloys. Rapid prototyping for increasing the design efficiency has attracted OEM manufacturers, design hobbyists, and industrialists to opt for the 3D printing technology. Thus, a fair amount of 3D printing metals is demanded from the automotive and aerospace application industries. The 3D printing technology has drastically reduced material wastage, thereby adhering to save the environmental policy, which makes it a more viable option for the end-users. The main application areas of 3D printing metal materials are in aerospace & automotive, healthcare & medical, commercial/industrial equipment manufacturers and consumer products/electronics among others.
Globally, the demand for 3D printing metal materials is high in economically developed countries, whereas the developing regions are catching up with the pace. Extensive consumption of metal materials comes from aerospace and automotive domains due to changing product designs from time to time. Further, the lightweight of OEM components for better fuel efficiency to reduce carbon footprint is an additional factor boosting the exponential growth of the 3D printing metals market in the next 5 years.
The regional demand for 3D printing metals is consistently growing, especially in the European and North American regions. This growth is supported by lucrative, fast-growing technological industries, and the growing manufacturing market in these regions. Currently, North America is the global leader in the 3D printing metals market from the demand side. North America has the highest adoption of 3D printing technology due to a higher literacy rate and the availability of skilled labor.
The US, which is the predominant region in North America, has the advantage of having most of the manufacturing and consumption markets, thus providing the maximum contribution to the 3D printing metals market in the region. Europe is not far behind North America in terms of 3D printing metal materials consumption value. From the supplier side, Europe followed by the Asia Pacific are the market leaders in the 3D printing metals market. The European market is also witnessing a capital influx in 3D printing technology from Tier 1 companies, which is increasing the regional competition.
The study of the 3D printing metals market by Infoholic Research provides the market size information and market trends along with factors and parameters impacting it in both the short- and long-term. The study ensures a 360� view, bringing out the complete key insights of the industry. These insights help the business decision-makers to make better business plans and informed decisions for future business. In addition, the study helps venture capitalists in understanding the companies better and take informed decisions. A few of the key players in the 3D printing metals market are Stratasys, 3D Systems, SABIC, DOW, HP, Materialise, Sandvik Osprey, etc.
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According to Infoholic Research, the global 3D printing metals market is expected to grow at a CAGR of 26.4% during the forecast period 2022 – 2031 to reach a value of $691.0 million by 2031. The Asia Pacific region has the fastest growth rate and is expected to move toward rapid adoption of 3D printing technology, which will directly boost the consumption by value, driven by Japan, China, and India. Asia Pacific is expected to contribute to the highest growth in the global 3D printing metals market.
By Material Type
- Precious Metals
- Commodity Metals
- Aerospace & Automotive
- Construction & Architecture
- Asia Pacific
- North America
- Rest of the World
Market trends, drivers, restraints, and opportunities
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