Global Metal 3D Printing Market Research Report: Forecast (2024-2030)

Market Definition

A metal 3D printer, also known as a metal additive manufacturing (AM) system used for fabricating objects using metal materials. These metal 3D printers use various metal powders or wire feedstock as the raw material to develop metal-based 3D printed products.

Market Insights & Analysis: Global Metal 3D Printing Market (2024-30):

The Global Metal 3D Printing Market size is estimated to grow at a CAGR of around 31.3% during the forecast period, i.e., 2024-30. The rising adoption of metal-based 3D printed products across various industries, the depreciating price of metal 3D printing technology, increasing R&D investment, etc., is amplifying the Global Metal 3D Printing market. These innovative & smart technologies are helping the different industry verticals to transform their manufacturing process & enhance their production capabilities. As a result, several fabrication units are opting for metal 3D printing, uplifting the Global Metal 3D Printing Market.

Further, the cost of metal 3D printing technology is constantly declining owing to which there has been surging adoption of these technologies within various industry verticals. The metal powders' prices used in 3D printing have decreased due to improvements in powder production processes, increased supply, and competition among suppliers. Additionally, the development of alternative metal powders and alloys has expanded material options and reduced costs. These factors significantly contributed to this price reduction. In addition, the growing number of companies entering the metal 3D printing industry has intensified competition, leading to price competition among manufacturers. This competitive environment encourages companies to offer more affordable pricing and value-added services to attract customers, ultimately driving down prices. For instance,

• In 2023, Formlabs, a pioneering leader in the 3D printing industry, announced a substantial 30% reduction for Form 3+ 3D printers in India.

This price decrease has made 3D printing more accessible, enabling its adoption by regular businesses and fueling the rapid growth & development of the Global Metal 3D Printing Market. Moreover, governments worldwide are increasingly investing in R&D on 3D printing, which has positively impacted technology propagation and adoption. For instance,

• In 2022, the government of India reported its aim to capture about 5% of the global market share in 3D printing by adding nearly USD 2-3 billion to the GDP in the coming 2-3 years.

These resources enable researchers and engineers to experiment, refine, and scale up metal 3D printing processes, driving technological advancements and reducing barriers to adoption.

Moreover, traditional subtractive manufacturing processes often generate significant material waste as parts from larger blocks of material. In contrast, metal 3D printing is an additive manufacturing process where material is deposited layer by layer to build up the final part. This additive approach minimizes material waste, as only the necessary amount of material is used to create the desired component. With growing awareness of environmental issues and sustainability concerns, companies are increasingly seeking manufacturing methods that minimize their environmental impact, making them an attractive option for environmentally conscious businesses and industries. This would significantly augment the size & volume of the Global 3D Metal Printing Market in the coming years.

Global Metal 3D Printing Market Driver:

Expanding Usage of the 3D Printing in Healthcare Sector to Uplift Market Growth – In the past few years, there has been a surge in non-invasive & minimally invasive surgeries due to the deteriorating health of individuals across the globe. Individuals undergoing surgeries, such as Cardiovascular, Orthopaedic, Cometic surgeries, etc., nowadays prefer implants that are based on their health condition & body weight, and height. Therefore, healthcare professionals highly recommend that individuals choose 3D-printed implants. These 3D-printed implants are based on the patient’s body vitals, thereby giving better results than the conventional implants. Hence, both medical practitioners & patients are increasingly seeking to use 3D-printed implants to improve their overall health, uplifting the Global Metal 3D Printing Market.

Additionally, to cater to this growing demand, the major players in the market are launching different implants based on patient-specific requirements. For instance,

• In 2023, Wedo Bio-Medical Technology Co., Ltd., one of the leading Chinese medical firms launched a new 3D-printed implant to help patients seeking an alternative from traditional implants.

The increasing launches of disease-specific metal-based 3D printed implants would continue to gain attention of the healthcare professionals & patients, amplifying market growth.

Further, the individuals in regions, like Europe, North America, Asia-Pacific, etc., are nowadays following an unhealthy lifestyle that includes higher consumption of alcohol & packaged food. As a result, the number of patients suffering from cardiovascular diseases and other lifestyle disorders would continue to increase. This would result in a higher demand for tailored 3D printed implants, augmenting the Global Metal 3D Printing Market in the forthcoming years.

Global Metal 3D Printing Market Opportunity:

Rising Usage of Metal 3D Printing During Aircraft Development to Amplify Market Growth – Trading activities across the Globe have significantly increased due to the increasing trade agreements and ease of import & export tariffs. These increasing trading activities across the globe are shipped via aircraft. As a result, there is higher usage of aircraft for the transportation of goods & products globally. The transportation of goods makes the aircraft heavy which affects the overall performance of the aircraft. Hence, major aircraft manufacturers are increasingly seeking lightweight materials to improve the overall fuel efficiency & performance of aircraft. These aircraft producers are increasingly using Metal 3D printed products since they help in the development of lighter aircraft structures without compromising strength or durability. For instance,

• In 2024, 3DEO, one of the leading metal 3D printing service providers collaborated with a Japanese aerospace engineering firm to implement & integrate metal 3D printing technology with the aircraft.

In addition, metal 3D printing minimizes material waste since it is produced via additive manufacturing. Therefore, the major aircraft manufacturers that are shifting towards sustainability will continue to opt for these metal-based 3D printed products, uplifting Global Metal 3D Printing in the forthcoming years.

Global Metal 3D Printing Market Challenge:

High Initial Costs & Additional Operational Expenses Hinder Market Growth– The products based on Metal 3D printing are manufactured using 3D printers. These printers are based on the latest & innovative technology, owing to which they are higher in cost as compared to traditional & plastic-based printers. Therefore, the key players in the market offer their metal-based 3D printed products at relatively higher costs than alternative products such as plastic products. The lower costs of the substitutes make the alternatives a favorable choice among small & medium-sized enterprises, slowing down the Global Metal 3D Printing market. Furthermore, the 3D printer consumes more electricity & power while functioning. As a result, the organizations using these printers have to pay additional energy consumption prices. This additional overhead results in the end-users to choose the substitutes. Hence, the various industry verticals refrain from using metal-based 3D printed products, hindering the Global Metal 3D Printing market.

Global Metal 3D Printing Market Trend:

Integration of Innovative Metal 3D Printing Technologies Uplift Market Growth –  The amalgamation of smart & innovative AI and machine learning into metal 3D printing processes represents a significant advancement in additive manufacturing technology. Manufacturers leverage these technologies to optimize printing parameters, predict material properties, and identify potential defects with unprecedented inaccuracy and inefficiency. For instance,

• In 2023, LEAP 71, a Dubai-based tech firm, and space tech firm Solideon have partnered to build large-scale 3D-printed space metal structures such as rocket propulsion systems and components.

Furthermore, AI and machine learning enable the prediction of material properties based on various factors, such as powder characteristics, printing conditions, and post-processing techniques. By training models on datasets containing information about material compositions, processing parameters, and resulting properties, AI algorithms can accurately forecast the mechanical, thermal, and chemical characteristics of printed parts. This predictive capability allows manufacturers to anticipate how different printing parameters or material compositions would affect the final product, enabling informed decision-making and design optimization. Thus, the growing integration of AI and MI would propel the market in the coming years.

Global Metal 3D Printing Market (2024-30): Segmentation Analysis

The Global Metal 3D Printing Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the global level. According to the analysis, the market has been further classified as:

Based on Type:

• Hardware
• Services
• Software

The hardware segment held the largest market share and is anticipated to account for the majority share of the Global Metal 3D Printing Market in the coming years as well. Metal 3D printing hardware necessitates a significant upfront investment because of the complexity of the systems involved. These printers integrate advanced technologies and precision components to facilitate the precise deposition of metal powders or wire feedstock with exceptional accuracy. The initial cost associated with acquiring metal 3D printing hardware is thus considerable, contributing to its dominance in the market.

Additionally, governments, academic institutions, and private companies are investing heavily in research and development initiatives to advance metal 3D printing systems. Funding programs, collaborative partnerships, and academic-industry collaborations drive innovation, push the boundaries of what is possible with metal 3D printing, and accelerate market growth in the coming years.

Based on End User:

• Aerospace & Defense
• Automotive
• Healthcare
• Consumer Goods
• Industrial Machinery
• Others (Jewelry, Art & Design, etc.)

Of them all, the automotive holds the notable market share in the Global Metal 3D Printing market. The requirement for automobiles is consistently growing globally since individuals nowadays prefer to daily commute with their personal vehicles. Therefore, there is a surge in the sales of the automobile comprising passenger cars, motorcycles, etc. Therefore, to ensure timely production & maintain the proper demand and supply chain within the automotive sector, the major automakers are using metal 3D printing, enhancing the share of automotive in the Global Metal 3D Printing market. For instance,

• In 2023, BMW Group announced using Wire Arc Additive Manufacturing (WAAM) for its production of vehicles in the foreseen years.

Moreover, the pivotal automakers are increasingly working on designing the latest electric vehicles with high driving range. Therefore, these automotive manufacturers would continue to use metal 3D printing to achieve higher performance vehicle, leading to market growth.

Global Metal 3D Printing Market (2024-30): Regional Projections

Geographically, the Global Metal 3D Printing Market expands across:

• North America
• South America
• Europe
• The Middle East and Africa
• Asia-Pacific

Georaphically, Asia-Pacific hold the majority share of the Global Metal 3D Printing Market. Asia-Pacific countries receive immense government support and R&D investments to generate a robust metal 3D printing ecosystem. As a result, several prominent companies operating in the industry are establishing their facilities across the region, mainly in China, South Korea, and Japan. For instance,

• In 2024, metal 3D printing service provider 3DEO received significant investment from the Development Bank of Japan Inc. (DBJ) and Seiko Epson Corporation (EPSON).

Additionally, the countries in this region have low labor costs compared to North American & European nations. Therefore, several foreign automakers are setting up their production units in the Asia-Pacific countries. These industries would use the metal 3D printing technology to streamline their manufacturing processes and meet the diverse needs of consumers, augmenting the market size & volume of the Asia-Pacific Metal 3D Printing Market during the forecasted period.

Global Global Metal 3D Printing Industry Recent Development:

• In 2024: 3DEO partnered with IHI AEROSPACE Co., Ltd. (IA) to improve the adoption & implementation of AM technologies within its systems to support its critical mission.
• In 2023, Bright Laser Technologies (BLT) expanded its metal 3D printing portfolio with its new BLT-S400 3D printer and the Powder Circulation System.

Gain a Competitive Edge with Our Global Metal 3D Printing Market Report

1. Global Metal 3D Printing Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. Global Metal 3D Printing Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.