3D Printing Metal Market Value, Volume, Size, Share, Competitive Landscape and Market Forecast 2023-2030
Global 3D Printing Metal Market is segmented Application (Prototypes, Engineering Applications, Turbines & Engine Parts, Injection Molding Tooling, Conformal Cooling, Turbines, Surgical Tools, Others), By End User (Aerospace & Defense, Automotive, Medical & Dental, Jewelry, Marine, Others), By Process (Direct Metal Laser Sintering, Electron Beam Melting, Multi Jet Fusion, Fused deposition Modeling, Computer-Aided Design, Others), By Material (Stainless Steel, Titanium, Nickel Alloy, Aluminum, Others), By Form (Powder, Filament), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
3D Printing Metal Market Overview
The 3D printing metal market size is estimated to reach at a high CAGR during the forecast period 2023-2030. The growth of the 3D printing metal market is additionally driven by AM (Additive Manufacturing) expertise which exploits earthenware production, metals, composites, glass, paper, plastics, and printing bio-inks. Although the element thermoplastics involved the utmost consideration at the start of 3D printing, the 3D material selections keep on evolving. These improvements in 3D printing advancements are projected to boost the 3D printing metal market growth.
The global 3D printing metal market is predictable to record significant growth in the coming future owing to promptly developing industries such as healthcare, aerospace and defense, and automotive. As per the research study, The Asia Pacific 3D Printing Metal market is expected to show the largest CAGR over the forecast period. Countries in the Asia Pacific such as China, this country is presently projected to be the major market for 3D printing metals.
3D printing metal uses various technologies to create metal objects layer by layer with melting, sintering, and welding. Metal 3D printing is one of the fastest-growing technologies in industries like jewelry, medical, dental, and manufacturing, allowing users to create cost-effective metal parts and prototypes. The 3D printing metal has been widely used in the industries due to its numerous features, including the ability to manufacture complex and unique structures with high precision, using less energy and reducing material wastage, cutting out overheads, and solving bandwidth issues.
3D Printing Metal Market Summary and Acope
Metrics |
Details |
Market CAGR |
25% |
Segments Covered |
By Application, By Process, By End-User, By Materials, and By Form |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
Regions Analyzed |
North America, Latin America, Europe, Middle East and Africa, Asia Pacific, and the Rest of the world. |
Major Companies Covered |
Arcam AB, Carpenter Technology Corporation, Renishaw PLC, Materialise NV, 3D Systems Corporation, Voxeljet AG, Hoganas AB, Sandvik AB, GKN PLC, ExOne GmbH, and others |
To Get a Free Sample Click here
3D Printing Metal Market Dynamics and Trends
The global 3D printing metal market growth is driven by the demand for efficient and automated products, high requirements from the aerospace and automotive industries for light materials, and the demand for 3D printed products with high strength.
Demand for efficient and automated products
The demand for efficient and automated products is expected to surge the demand for the 3D printing metal market. Nowadays, companies are focusing on producing machines that are easy to use, faster, and more powerful. Companies are working on eliminating and reducing trial and error processes across a wide variety of part geometries, enabling companies to mass-produce 3D printed parts faster and at a lower cost. There are many metal 3D printers on the market to cater to the different industry demands.
CES has developed additive intelligence in 2021, which has been primarily used in 3D printing metal for reducing the cost of mass-producing metal 3D printed parts with the power of AI. Combining hardware and software allows printing metal parts with superior physical properties to those produced with today's conventional metal 3D printing processes. In 2019, Stratasys expanded its Metal 3D printing production with Flow software and VELO3D’s Sapphire 3D print system to meet the increasing demand for 3D metal products for several applications.
Also, the powder bed fusion technique has been introduced to create lightweight parts and components with fine details and accuracy for satisfying the needs of the aerospace and automotive industries.
High cost of machines
The 3D printing metal market is impacted by the high cost of the machines. The prices for machines range from $50,000 to $1 million. Hence, the use of 3D printing metal is still uneconomical for small-scale vendors and businesses. Moreover, powdered metals are much more expensive than raw metals.
The 3D printing of metal is subjected to slow production speed, the need for post-processing and complicated designing for metal 3D compared to other manufacturing methods are some of the major factors responsible for restraining the market growth. However, with increasing research & developments in the region, the market is expected to overcome the restraints associated with market growth.
COVID-19 Impact Analysis on the 3D Printing Metal Industry
Due to the pandemic, stakeholders across the 3D printing metal industry have seen a notable impact as all the production work, factories, and other activities were closed. The production was hindered by halts and supply chain disruption globally. After the pandemic, the governments still imposed various restrictions, such as working with half the workforce and fewer operating hours hindering the production cycle of the market.
The 3D printing metal sector losses were incorporated with the reduced demand for automotive, jewelry, aerospace & defense, and other associated industries. On the other hand, certain segments such as the healthcare and food industries have witnessed a buoyant demand for the 3D printing metal market to manufacture various products.
3D Printing Metal Market Segmentation Analysis
According to the research study, the global market for 3D Printing Metal is segmented based on Application, Process, End-User, Materials, and Form.
As per the Application segment, the market is subdivided into Prototypes, Engineering Applications, turbine & Engine Parts, Injection Molding Tooling, Conformal Cooling, Turbines, Surgical Tools, and Others. Based on End User divided into Aerospace & Defense, Automotive, Medical & Dental, Jewelry, Marine, and Others. By Process is categorized into Direct Metal Laser Sintering, Electron Beam Melting, Multi Jet Fusion, Fused deposition Modeling, Computer-Aided Design, and Others. By Material into Stainless Steel, Titanium, Nickel Alloy, Aluminum, and Others. The form is further divided into Powder and Filament.
The sub-segment called aluminum was the uppermost provider to the global 3D printing metal market, and the steel segment is projected to produce with the maximum CAGR over the forecast period 2022-2029.
The automotive segment was the utmost contributor to the global market and the aerospace and defense segment is probable to develop with a major CAGR throughout the forecast period.
The multi-jet fusion is expected to grow at the fastest cagr during the forecast period (2023-2030)
The multi-jet fusion process(MJF) is expected to hold the largest market in the 3D printing metal industry due to its numerous advantages over others. MJF works faster than selective laser sintering as it heats a layer at once rather than tracing each area. Also, MJF is considered more environmentally friendly, with around 50% of material reused after a print. It can print color parts unlike stereolithography can only print selected block colors. In addition, the MJF printing process creates crisper edges than other technologies such as Selective Laser Sintering. In 2019, HP produced more than 10 million parts produced using Multi Jet Fusion technology. The company has also started shipping HP Jet Fusion 500/300 Series 3D printers for functional prototyping with new customers such as Daimler Trucks North America.
Whereas, Direct metal laser sintering (DMLS) materials are generally better than those wrought materials. The process is ideal when the part's geometry is not possible in any other process for weight-saving designs using honeycomb. It is used for producing parts for implant medical applications. The companies also offer secondary services such as painting, post-machining, and measurement and inspection to further enhance the 3D-printed project design. In 2020, Xometry Europe developed Direct Metal Laser Sintering 3D printing services in four materials with the addition of Carbon’s Digital Light Synthesis technology to its offering.
3D Printing Metal Market Geographical Analysis
North America region holds the largest market for the global 3D printing metal globally
The North American region holds the largest market share for the market for 3D printing metal globally and is expected to continue its dominance in the forecast period. U.S and Canada have a significant market for 3D printing metal to create prototypes in the industries. Metal 3D printing has observed a high demand from the aerospace for the production of components or rocket motors while saving weight and lowering costs as the U.S has the leading aerospace market globally with the export of $126.5 billion in 2019. In 2017, NASA conducted the testing of the 3D printed rocket engine part made with two different alloys. A hybrid 3D printer was used to build the part out of Inconel and copper alloy. North America is a recognized hub of advanced manufacturing innovation, with 88 Additive Manufacturing R&D projects executed. It has evolved from a community of 65 founding organizations to more than 225 in 2019.
Asia-Pacific 3D Printing Metal market will show a CAGR of 25% over the forecast period of 2023-2030.
Countries in the Asia Pacific region such as China, at present anticipated to be a noteworthy market for the global 3D printing metals market. Asia Pacific region is projected to produce at the utmost growth rate during the forecast period 2022-2029.
Leading market players have been offering product launches and partnerships, resulting in growth for the market. For instance, in 2021, ExOne Company, a leader in metal 3D printers using binder jetting technology, has developed the ExOne Metal Designlab printer and X1F advanced furnace in partnership with Rapidia. In 2020, EOS formed a partnership with A&M Engineering Experiment Station to work on the developing sectors.
3D Printing Metal Companies and Competitive Landscape
The 3D printing metal industry is highly competitive and consolidated with the presence of global companies, contributing to a significant share in the market growth. In addition, some of the key players contributing to the growth of the market are Arcam AB, Carpenter Technology Corporation, Renishaw PLC, Materialise NV, 3D Systems Corporation, Voxeljet AG, Hoganas AB, Sandvik AB, GKN PLC, ExOne GmbH, and others. The major players are adopting various new strategies to dominate the market, such as launching new products, acquisitions, and collaborations, contributing to the growth of the 3D printing metal industry globally.
Renishaw PLC
Overview: Renishaw PLC is the leading engineering and scientific technology company with expertise in precision measurement and healthcare. The company offers its products and services in Aerospace, Automotive, Energy, Electronics, Precision manufacturing, Medical and healthcare, Scientific, research, and analysis.
Product Portfolio: The Company offers a wide range of 3D printing metal products and services including metal AM systems, AM solution centers, system software, metal powders supply, ancillaries, and others.
Key Development: In 2019, Renishaw collaborated with Sandvik Additive Manufacturing to qualify new additive manufacturing materials for production applications. This encompasses a wide range of metal powders, including alloy compositions that are optimized for the laser powder bed fusion process and provide superior material properties.
The global 3D printing metal market report would provide access to an approx: 77 market data tables, 84 figures, and 180 pages.