3D Printing Metals Market Size was USD 1.3 Billion in and Will Reach USD 6 Billion in 2030

3D Printing Metals Market size is projected to grow from USD 2.5 Billion in 2023 to USD 6 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 30.00% during the forecast period (2023 – 2030).

3D printing has come a long way since its inception, and now, with the advent of 3D printing metals, it is revolutionizing the manufacturing industry. While traditional manufacturing methods are still widely used, 3D printing offers unique advantages that make it an attractive option for certain applications. In this article, we’ll take a closer look at 3D printing metals, including the process, advantages, and challenges.

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Market Drivers:

3D printing technology or Additive Manufacturing helps develop patient-ideal dental products, like crowns, bridges, and partial dentures, within the dental industry. Generally, the conventional technique of manufacturing is not right for low-volume manufacturing since the equipment differs in size, which the AM technology addresses. This will be highly favorable for the market over the next few years.

Manufacturers are adopting AM to develop clamps, scalpel handles, hemostats, prosthetic limbs, and forceps. Numerous companies are using AM processes for a variety of important healthcare applications. To illustrate, 3D Systems Healthcare will be collaborating with the medical sector to accelerate the expansion of additive manufacturing in the dental and medical industries.

With various industries shifting from rapid prototyping to adopting 3D printing technology, the players will be offered new opportunities in the coming years. A survey by 3D hubs reveals that more than 50% of total companies worldwide have been using 3D printing to manufacture a variety of end-use parts. Industries, like transportation, biotechnology, and automotive have increased their use of 3D printing in recent years, giving a substantial push to the market growth rate.

Market Restraints:

Substantial investments as well as high costs associated with equipment maintenance could limit industry progression in the future. The technology can be quite costly, thereby discouraging manufacturers and businesses from adopting them.

With that said, surging spending by 3D printing companies will result in the immense growth of the worldwide market over the upcoming years. To cite a reference, Mantle Inc. managed to raise close to USD 25 million in seed funding for installing commercial 3D printing systems in May 2022.

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Market Segmentation

By Type

The types of 3D printing metals in the market are Inconel, nickel, titanium, stainless steel, aluminum, and more.

The titanium segment shall capture a CAGR of 28.42% in the years ahead, given the metal’s surging use in various automotive and aerospace applications.

By Form

3D printing metals come in two forms, primarily powder and filament.

Given the rise of advanced technologies like substance jetting, and binder jetting along with sheet bonding and sheet lamination, the powdered form will gain dominance over the global market in the future.

By Technology

Sheet lamination, material extrusion, and binder jetting are the top technologies studied in the review report. The content extrusion segment will likely be attaining a CAGR of 30.64 percent during the evaluation period.

By Application

The major applications of metal 3D printing are automobiles, aerospace & defense, consumer electronics, building & construction, as well as healthcare.

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Market Competitive Landscape:

Voxeljet AG, Renishaw plc, 3D Systems, Inc, GKN Aerospace,  CRS Holdings Inc (Carpenter Technology Corporation), Triditive, Incus, Materialise, Concept Laser GmbH, Optomec, Inc. SLM Solutions

These companies are known for adopting various strategies and tracking every development and trend in the market that can help them enhance their business rankings. Some of the top strategies include partnerships, agreements, mergers, and new launches.

Regional Insights

The Asia Pacific market for 3D printing metals shall grab the highest position in the ensuing years, all because of the escalating spending on healthcare, consumer electronics, and building and construction industries. These are the key end-use sectors of 3D printing metals in the region. The Chinese market for 3D printing metals is one of the biggest consumers and producers in the world. Also, developing countries like India will contribute majorly to the Asia Pacific market growth. With the rising population and the economic surge in the said countries, the use of 3D printing metals will boom considerably in the next several years.

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Conclusion:

3D printing metals is revolutionizing the manufacturing industry by offering unique advantages over traditional manufacturing methods. While there are challenges to overcome, the benefits are significant, and the technology is rapidly advancing. As 3D printing metals becomes more widely adopted, it has the potential to transform the way we design and produce metal parts.

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