3D Printed Metal Market Scope
3D printing is the process of creating a 3-dimensional object by adding successive layers of a particular material one on top of each other until the overall object has been formed. 3D printing metal is also referred to as metal additive manufacturing. The common metals used in 3D printing include titanium, nickel, stainless steel, aluminum, among others.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | 3D Systems Corporation (United States), General Electric Company (United States), Stratasys Ltd. (United States), Renishaw plc (United Kingdom), Sandvik AB (Sweden), Carpenter Technology Corporation (United States), Materialise NV (Belgium), Voxeljet AG (Germany) and EOS GmbH Electro Optical Systems (Germany) |
CAGR | % |
3D Printed Metal market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global 3D Printed Metal market throughout the predicted period.
3D Systems Corporation (United States), General Electric Company (United States), Stratasys Ltd. (United States), Renishaw plc (United Kingdom), Sandvik AB (Sweden), Carpenter Technology Corporation (United States), Materialise NV (Belgium), Voxeljet AG (Germany) and EOS GmbH Electro Optical Systems (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are The ExOne Company (United States) and Proto Labs, Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global 3D Printed Metal market by Type and Region with country level break-up.
On the basis of geography, the market of 3D Printed Metal has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In April 2023, Stratasys Ltd. a leader in polymer 3D printing solutions announced it has acquired the additive manufacturing materials business of Covestro AG The acquisition, which is immediately accretive, includes R&D facilities and activities, global development and sales teams across Europe, the U.S., and Asia, a portfolio of approximately 60 additive manufacturing materials, and an extensive IP portfolio comprised of hundreds of patents and patents pending.
In November 2019, Renishaw plc collaborated with Sandvik Additive Manufacturing to qualify new additive manufacturing (AM) materials for production applications. These materials include a range of metal powders and new alloy compositions that can be optimized for the laser powder bed fusion (LPBF) process and superior material properties. With this collaboration, Renishaw plc developed new metal materials for 3D printing.
Influencing Trend:
Increasing market acceptability in the aerospace and automobile sectors
Market Growth Drivers:
Growing Demand From the Aerospace & Defense and Automotive Industries, Huge Investments in Research & Development (R&D) Activities have been Facilitating Manufacturing of Components and Mass Customization of Products With Complex Design and Structure
Challenges:
A Large Amount of Energy is Required During the Process and It is Labor-Intensive, Specific Material Requirements and Longer Built Times
Restraints:
Limitation of Printer Size and High Cost of Metal
Opportunities:
Increasing Demand for 3D Printing in Emerging Countries and Emerging Applications of 3D Printing Metals
Key Target Audience
Government Bodies, End User Industry, 3D Printed Metal company and Others