Global Metal 3D Printing

Global Metal 3D Printing Market Research Report: Forecast (2023-2028)

By Raw Material (Powder-Based Raw Material, Resin-Based Raw Material, Lamina-Based Raw Material, Filament/Wire-Based Raw Material), By Technology (Powder Bed Fusion, Directed Energy Deposition, Binder Read more

  • ICT & Electronics
  • Dec 2022
  • 243
  • IT88014

Market Definition

Metal 3D Printing is a laser-based technology that uses wired or powdered metals to selectively bind together particles while distributing even metal layers to create the structure. Currently, 3D printing has a small role in the metal industry, yet swiftly gaining momentum & expanding its applications across different verticals like aerospace & defense, medical & healthcare, automotive, construction, & general engineering, among others. The technology is used majorly to create complex & detailed products that require high accuracy & precision, designing & prototyping, making tools, mold, & inserts, etc.

Market Insights

The Global Metal 3D Printing Market is projected to grow at a CAGR of around 30% during the forecast period, i.e., 2023-28. The growth of the market is driven primarily by the growing need for prototyping & advanced manufacturing processes across different sectors like aerospace & defense, medical & healthcare, automotive, construction, general engineering, etc.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 30%
Regions Covered North America: USA, Canada, Mexico
Europe: Germany, UK, France, Italy
Asia-Pacific: China, India, Japan, South Korea
South America: Brazil, and Argentina
Middle East & Africa: Saudi Arabia, South Africa
Key Companies Profiled Carpenter Technology Corporation, Sandvik AB, Linde, Renishaw PLC, Materialise, SLM Solutions, Intech Additive Solutions Pvt. Ltd., 3D Systems, Inc., Trumpf GmbH + Co. Kg, Stratasys Ltd
Unit Denominations USD Million/Billion

 

Additionally, the mounting need to speed up the designing cycle & reduce the time-to-market is also driving the metal 3D printing market. Besides, several manufacturing companies are actively adopting additive technology while taking R&D initiatives for metal 3D printing technology to bring precision, accuracy, & perfection to their production line.

The escalating demand for precise & accurate manufacturing of final products for applications like prototyping & designing is also stimulating the adoption of metal 3D printers worldwide. Furthermore, the medical & healthcare sector shall display lucrative growth opportunities for the leading players in the market owing to an accelerated need for metal 3D printing technology to create medical equipment & implants and curb physical disabilities in people.

Global Metal 3D Printing Market Research Report: Forecast (2023-2028)

Market Segmentation

Based on the Application,

  • Aerospace & Defense
  • Medical & Healthcare
  • Automotive
  • Other (Construction, Tool & Die, General Engineering)

Of them all, the metal 3D printing application across the Aerospace & Defense sector is anticipated to display the fastest growth during the forecast period. It owes principally to the increasing demand for precise & accurate shaped critical engine components & fuel nozzles, propelling the demand for Metal 3D printing & driving the market through 2028.

Besides, since 3D printing technology reduces the weight of the components, it reduces the fuel consumption by the aircraft, thereby mounting the demand for these printers. Moreover, Metal 3D printing is increasingly used across the aerospace & defense sector to manufacture specified brackets for satellites that require high accuracy & precision of the molds without altering the manufacturing process.  For instance,

  • In June 2022, Indian Institute of Technology (IIT), Jodhpur, India, indigenously developed a metal 3D printer for defense, aerospace, and general engineering applications.

On the other hand, the Medical & Healthcare sector holds significant growth potential for the Global Metal 3D Printing Market during 2023-28. It owes principally to the escalating demand for developing artificial tissues & muscles to replicate the natural ones through surgeries and cure disabilities in patients.

Based on Metals & Alloys,

  • Titanium & its Alloys
  • Aluminum & its Alloys
  • Steels
  • Nickel & its Alloys

Here, Titanium & its Alloys are anticipated to dominate the global market with the largest share during 2023-28. It owes principally to the rapidly increasing demand for titanium-based 3D printed products across the automotive, aerospace & defense sectors, etc. The increasing demand for titanium & its alloys owes majorly to their properties like high temperature & impact resistance, non-corrosive & resistance against changing weather, etc., which, in turn, would generate remunerative growth opportunities for the global market through 2028.

Additionally, the growing necessity to create complex geometric structures using titanium 3D printing technology across the aerospace & defense sector is another crucial aspect anticipated to augment the demand for titanium & its alloys in the coming years. Furthermore, titanium-based 3D printed products are widely in demand for medical & dental applications to manufacturing orthopedic & dental implants, knee & hip replacements, etc., across the healthcare sector.

Regional Projection

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

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia-Pacific

Of all regions globally, North America dominated the market with the largest share in recent years & is anticipated to prevail the same trend during the forecast period. It owes principally to the increasing additive manufacturing across aerospace, healthcare, automotive, and energy sectors across the region. Countries like the US & Canada are among the most prevalent markets in North America due to their strong economic conditions and being the early adopters of technologies across multiple verticals.

On the other hand, Europe is projected to observe the fastest market growth during the forecast period, principally due to the mounting inclination of governments of different countries in the region toward automation & modernization of manufacturing processes in line with Industry 4.0. It, in turn, is soaring the demand for metal 3D printing technology, especially across the defense, aerospace, and automotive industries. The UK, Italy, & France are among the largest regional markets that display remunerative growth opportunities for the leading players in the industry.

Nonetheless, Asia-Pacific is expected to demonstrate remarkable market growth in the coming years. It attributes primarily to the rapidly increasing adoption of metal 3D printing technology across rapidly expanding industries like aerospace, automotive, healthcare, & defense, among others, to manufacture precise, accurate, and finished products. For instance,

  • In March 2022, Mitsubishi Electric Corporation was honored to launch the "AZ600" wire-laser metal 3D printer, which melts welding wire with a laser beam to create high-quality 3D structures. With two new variants, delivering stable and high-quality 3D printing, the product became the first of its kind worldwide.

Additionally, the healthcare sector of Asia-Pacific is likely to significantly contribute to the regional market growth over the forecast years to suffice the escalating customization requirements for surgical implants & medical equipment.

Recent Developments in the Global Metal 3D Printing Market

  • In November 2022, Renishaw, a global manufacturer of metal 3D printing machines, launched an innovative metal rotary scale for its ATOM DX encoder series: the CENTRUM CSF40 scale.
  • In November 2022, 3D Systems included two new materials, namely Certified HX and Certified CuCr2.4, into its industry-leading materials portfolio. Both materials have got approval for use with the company’s DMP Flex 350 and DMP Factory 350 3D printers.

Market Dynamics

Key Driver

  • Substantial Investments in R&D on Metal 3D Printing Applications

The Global Metal 3D Printing Market is witnessing an escalating number of research & development initiatives for product & technology advancements due to the increasing inclination of Metal 3D printing technology providers toward bringing innovations in printers & broadening its applications across different verticals. It is encouraging the leading market players to expand the adoption of metal 3D printing technology across various industries like the aerospace & defense, healthcare, & automotive sectors, which, in turn, would project maximum profitability to the global market through 2028.

Possible Restraint

  • Spreading Misconceptions Regarding Prototyping Across SMEs

Several Small & Medium Enterprises (SMEs) are dicey about investing in the metal 3D printing technology due to the prevalence of misconceptions like the expensive phase before manufacturing the technology to build products with the help of prototyping. Additionally, there's unawareness about the benefits like precise product development from a slightly modified design, quick designing cycle, reduced time-to-market, etc., by prototyping with metal 3D printing. Moreover, the unavailability of skilled professionals, technical knowledge, and lack of standardized process controls are other crucial aspects that might restrain the growth of the Global Metal 3D Printing Market during 2023-28.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Global Metal 3D Printing Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Metal 3D Printing Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Metal 3D Printing Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Global Metal 3D Printing Market study?

Frequently Asked Questions

A. The Metal 3D Printing Market is projected to grow at a CAGR of around 30% during 2023-28.

A. The growing propensity of Metal 3D printing technology providers toward bringing developments & innovations in printers & broadening their application across different verticals is anticipated to drive the Metal 3D Printing Market during the forecast period.

A. The leading players in the market are Carpenter Technology Corporation, Sandvik AB, Linde, Renishaw PLC, Materialise, SLM Solutions, Intech Additive Solutions Pvt. Ltd., 3D Systems, Inc., Trumpf GmbH + Co. Kg., and STRATASYS LTD.

A. Aerospace & Defense sector is anticipated to emerge as an area of remunerative opportunities for the leading players in the Metal 3D Printing Market during the forecast period.

A. Globally, North America would provide lucrative prospects for the Metal 3D Printing Market in the years ahead.

A. Spreading misconceptions regarding prototyping across SMEs might hinder the market growth during 2023-28.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Global Metal 3D Printing Market
  5. Global Metal 3D Printing Market Trends & Insights
  6. Global Metal 3D Printing Market Dynamics
    1. Drivers
    2. Challenges
    3. Impact Analysis
  7. Global Metal 3D Printing Market Hotspots & Opportunities
  8. Global Metal 3D Printing Market Value Chain Analysis
  9. Global Metal 3D Printing Market Regulations & Policy
  10. Global Metal 3D Printing Market Outlook, 2018- 2028F
    1. Market Size & Analysis
      1. By Value
      2. By Volume
    2. Market Share & Analysis
      1. By Raw Material
        1. Powder-Based Raw Material
        2. Resin-Based Raw Material
        3. Lamina-Based Raw Material
        4. Filament/Wire-Based Raw Material
      2. By Technology
        1. Powder Bed Fusion
        2. Directed Energy Deposition
        3. Binder Jetting
        4. Metal Extrusion
        5. Others
      3. By Application
        1. Aerospace and Defense
          1. Improved Development Cycles
          2. Designing of Complex Parts
          3. Design Consolidation
          4. Manufacturing of Spares
          5. Weight Reduction
          6. Efficiency of the Materials
          7. Assurance of in-Process Quality
        2. Medical and Healthcare
        3. Automotive
        4. Other (Construction, Tool and Die, General Engineering)
      4. By Metal & Alloys Type
        1. Titanium and Its Alloys
          1. Complexity of Parts
          2. Strength-Weight Ratio
            1. Aerospace
            2. Automotive
          3. High-Temperature Strengths
          4. Biocompatibility
          5. Reduced Wastage
          6. Reduced Printing Time
        2. Aluminum and Its Alloys
        3. Steels
        4. Nickel and Its Alloys
        5. Other Alloys
      5. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia-Pacific
      6. By Competitors
        1. Competition Characteristics
        2. Market Share & Analysis
        3. Competitive Matrix
  11. North America Metal 3D Printing Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Value
      2. By Volume
    2. Market Share & Analysis
      1. By Raw Material  
      2. By Technology
      3. By Application
      4. By Metal & Alloys Type
      5. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
    4. Canada Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
    5. Mexico Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
  12. South America Metal 3D Printing Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Value
      2. By Volume
    2. Market Share & Analysis
      1. By Raw Material 
      2. By Technology
      3. By Application
      4. By Metal & Alloys Type
      5. By Country
        1. Brazil
        2. Argentina
        3. Others
    3. Brazil Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
    4. Argentina Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
  13. Europe Metal 3D Printing Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Value
      2. By Volume
    2. Market Share & Analysis
      1. By Raw Material 
      2. By Technology
      3. By Application
      4. By Metal & Alloys Type
      5. By Country
        1. Germany
        2. The U.K.
        3. France
        4. Italy
        5. Others
    3. Germany Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
    4. The U.K. Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
    5. France Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
    6. Italy Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
  14. Middle East & Africa Metal 3D Printing Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Value
      2. By Volume
    2. Market Share & Analysis
      1. By Raw Material 
      2. By Technology
      3. By Application
      4. By Metal & Alloys Type
      5. By Country
        1. Saudi Arabia
        2. South Africa
        3. Others
    3. Saudi Arabia Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
    4. South Africa Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
  15. Asia Pacific Metal 3D Printing Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Value
      2. By Volume
    2. Market Share & Analysis
      1. By Raw Material 
      2. By Technology
      3. By Application
      4. By Metal & Alloys Type
      5. By Country
        1. India
        2. China
        3. Japan
        4. South Korea
        5. Others
    3. India Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
    4. China Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
    5. Japan Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
    6. South Korea Metal 3D Printing Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Application
        2. By Metal & Alloys Type
  16. Key Strategic Imperatives for Success and Growth
  17. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles
      1. Carpenter Technology Corporation
      2. Sandvik AB
      3. Linde
      4. Renishaw plc
      5. Materialise
      6. SLM Solutions.
      7. Intech Additive Solutions Pvt. Ltd.
      8. 3D Systems, Inc.
      9. Trumpf GmbH + Co. Kg
      10. STRATASYS LTD.
  18. Disclaimer
Metal 3D Printing Market Segmentation