3D Printing Metal Market is Booming Worldwide | 3D Systems, Stratasys, Renishaw plc, General Electric
Published Via 11Press : According to HTF MI, The report “Global 3D Printing Metal Market: Industry Share, Size, Growth, Opportunity, Trends, and Forecast 2023-2029” was published in June 2018. From 2023 to 2028, the Global 3D Printing Metal Market is expected to expand at a compound annual growth rate (CAGR) of 25.3%, reaching USD 1.2 billion in 2023 and USD 9.6 billion by 2028.
3D Printing Metal additive manufacturing is a cutting-edge technique that allows for the layer-by-layer creation of complicated metal objects. Metal powders or wires are deposited using a high-energy heat source, such as a laser or electron beam, and then selectively melted and fused. This approach allows for the creation of highly accurate, structurally sound, customized metal components. The ability to make complex metal parts with shorter lead times and greater design freedom has changed traditional production procedures. It provides advantages such as reduced material waste, improved product performance, and lower manufacturing costs. In the metal 3D printing sector, a wide range of materials, including titanium, stainless steel, aluminum, nickel alloys, and cobalt-chrome, are employed. To meet the stringent requirements of various industries, top market players are continually improving post-processing procedures, printing processes, and the creation of new metal alloys.
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Key and Developing Players,
- 3D Systems
- Stratasys
- Renishaw plc
- General Electric Company
- Carpenter Technology
- Materialise NV
- Voxeljet AG
- Sandvik AB
- EOS GmbH Electro Optical Systems
- The ExOne Company
- Proto Labs
Market Drivers
- One of the primary factors is the increasing need for delicate, lightweight metal components.
- Complex designs are usually difficult to build using standard manufacturing processes, but 3D printing metal makes complex geometries simple.
- Other reasons include the rising need for efficient manufacturing and reduced resource waste.
- By selectively depositing and melting metal powders or wires, 3D printing metal reduces material waste as compared to traditional subtractive manufacturing processes.
- Improvements in 3D printing technology, such as faster printing speeds, more accuracy, and a larger range of appropriate metal alloys, are also driving the industry.
- Because of technical advancements, manufacturers can now make metal components with increased productivity and quality.
- Furthermore, the versatility of 3D Printing Metal to give design freedom and quick prototyping capabilities is driving its popularity in a variety of applications, including industrial, aerospace, automotive, and healthcare.
- Iterations and design modifications may be performed fast using this technology, reducing time to market and product development cycles.
Market Trend
- One prominent trend is the merging of 3D printing technologies and automated assembly techniques.
- This allows for the seamless integration of several parts and components into a single printed object, which speeds up manufacturing and reduces post-processing requirements.
- Another emerging trend is the incorporation of digital data into the texturing of 3D-printed things.
- Researchers are investigating methods to physically incorporate data into the texture of 3D-printed metal goods, such as product descriptions, tracking numbers, or even encryption keys.
- This invention has the potential to revolutionize supply chains, authentication procedures, and anti-counterfeiting approaches.
- Furthermore, 3D printing metal aids with the electrification of autos. As the automotive industry transitions to electric vehicles (EVs), there is a growing demand for lightweight, high-efficiency components.
- Advanced EVs may be created by 3D printing complex, lightweight metal components with improved geometries and performance.
Market Challenges
- One of the most difficult issues is achieving homogeneous density in 3D-printed metal items.
- It is still challenging to achieve constant density over the whole printed product since variances might compromise structural integrity and mechanical capabilities.
- Residual stress, cracking, and warping are other issues with 3D printing metal.
- The layer-by-layer architecture of the printing process may cause internal stresses that affect the stability and dimensional correctness of the completed items.
- Preventing or reducing these issues requires careful process optimization, material selection, and post-printing treatments to obtain the desired quality and performance.
- Post-processing and surface roughness are additional issues in the metal 3D printing business.
- Post-printing activities such as machining or polishing are typically required to create smooth surface finishes and meet exact tolerances.
- Effective post-processing procedures are critical for the sector’s growth and competitiveness since these operations enhance the complexity, time, and cost of the overall manufacturing process.
On 12th July 2022, “Markforged paid $40 million for Digital Metal. Markforged’s drive into additive manufacturing for industrial clients is highlighted by the purchase, and with Digital Metal’s powder-binding jetting machine portfolio, the business unlocks large-scale, high-volume metal part production capabilities. The 3D Printing Metal market has a strongly competitive environment, which is emphasized by the presence of several players offering a wide range of goods and services.”
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3D Printing Metal Market Segmentation:
Market Breakdown by Applications:
- Powder
- Filament
Market Breakdown by Types:
- Aerospace and Defense
- Automotive
- Medical and Dental
- Others (Marine, Art and Sculpture, Jewelry, and Architecture)
Report Scope
| The Market size value in 2023 | USD 1.2 Billion |
| Revenue Forecast by 2033 | USD 9.6 Billion |
| Growth Rate | CAGR Of 25.3% |
| Regions Covered | North America, Latin America, Europe, the Middle East and Africa, and the rest of the world |
| Historical Years | 2018-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
Competitive Landscape:
Along with researching the profiles of the top competitors in the 3D Printing Metal market, the competitive environment of the industry is also investigated. Some of the players profiled are Stratasys Ltd, 3D Systems Corporation, Renishaw plc, General Electric Company, Materialise NV, Carpenter Technology Corporation, Voxeljet AG, EOS GmbH Electro Optical Systems, Sandvik AB, The ExOne Company, Proto Labs, Inc.
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Key highlights of the report:
📝 3D Printing Metal Market Performance (2018-2022)
📝 3D Printing Metal Market Outlook (2023-2028)
📝 3D Printing Metal Market Trends
📝 3D Printing Metal Market Drivers and Success Factors
📝 SWOT Analysis
📝 Value Chain Analysis
📝 Detailed competitive landscape
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