Global 3D Printing Metal Market Thrives at a CAGR of 25.3%

Introduction

In the dental industry, 3D printing technology, called Additive Manufacturing (AM), is used to create patient-friendly dental goods such as partial dentures, crowns, and bridges. Usually, traditional manufacturing techniques are not suited for low-volume manufacturing since the equipment fluctuates in size. AM technology is now addressed, which is expected to accelerate market expansion in the United States.

The metal 3D printing business is expected to rise significantly throughout the forecast period due to several factors, including increasing demand for speedy prototyping, which allows manufacturers to design and build better products and systems. Furthermore, the ease of production and extra benefits of 3D printing technology are significant factors driving the technology's rapid acceptance across various industrial sectors.

Market Dynamics

Improved Government Investments Spur the Market for 3D Printing Metals

The use of modern manufacturing methods is being drastically disrupted in several nations throughout the world by digital technology. Potential users of 3D technology include the US. The US Department of Defense budgeted money for this technology in 2018 as an essential capability. Industry leaders in computer software like Autodesk, Microsoft, and HP have introduced additive and 3D printing manufacturing technologies.

Similarly, China is working very hard to keep the manufacturing sector competitive in the international market. Chinese firms tend to invest in the research and development of this technology because they perceive it as both a risk and an opportunity for the Chinese industrial economy. India, on the other hand, is eagerly anticipating this technology as a chance to boost its position as a global manufacturing competitor. Active government programs like the "Make in India" Initiative help to support the Indian market.

Korea has developed a unique roadmap for 3D printing metal technology's research and development and offers national support to carry it out. To promote the adoption of this technology, the Korean government is speeding industry regulatory agreements and giving financial incentives. The UK government has also created a stand-alone 3D technology strategy, but Brexit-related uncertainties in the manufacturing sector are causing some concern. Since Germany has a well-established Industry 4.0 infrastructure, it is projected that Germany will develop new strategies for the technology.

A Shift from Rapid Prototyping Creates Lucrative Market Opportunities

The transition from quick prototyping to production utilizing 3D printing is expected to open up new opportunities for market participants. According to a recent survey of 3D hubs, more than half of enterprises use 3D printing to manufacture functional end-use products. In recent years, automotive, transportation, and biotechnology industries have seen an increase in the use of 3D printing.

Regional Insights

North America dominated the global 3D printing metal market, accounting for more than 30% of worldwide revenue in 2021, owing to the region's widespread adoption of additive manufacturing. North American countries such as the United States and Canada have used these technologies early in various manufacturing processes. The regional market provides significant potential for metal 3D printing in multiple applications.

The Asia-Pacific 3D printing metals market is projected to grow at the highest CAGR during the forecast period. This rapid acceptance of metal 3D printing in Asia can be linked to innovations and upgrades in the region's manufacturing industry. In addition, Asia-Pacific is rising as a manufacturing powerhouse for the automobile and healthcare industries. A grip on consumer electronics manufacture, combined with increased urbanization, contributes to the region's growing need for three-dimensional printing.

Key Highlights

• The global 3D printing metal market was valued at USD 475 million in 2021. It is expected to reach USD 3,615 million by 2030, growing at a CAGR of 25.3% during the forecast period (2022–2030). 

• By form, the global 3D printing metals market is segmented into Powder and Filament. The Powder segment dominates the 3D printing metal market. 
• By technology, the global 3D printing metals market is segmented into Powder Bed Fusion, Directed Energy Deposition, Binder Jetting, Metal Extrusion, and Others. The Powder Bed Fusion dominates the 3D printing metal market. 
• By metal type, the global 3D printing metals market is segmented into Titanium, Nickel, Stainless Steel, Aluminum, and Others. The Titanium segment dominates the 3D printing metal market. 
• By end-user, the global 3D printing metals market is segmented into Aerospace & Defense, Automotive, Medical & Dental, and Others. Aerospace & Defense dominate the 3D printing metal market. 
• By region, the global 3D printing metals market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America commands the leading share of the market.

Competitive Players

1. 3D Systems
2. Autodesk Inc.
3. Stratasys Ltd
4. Arcam AB
5. The ExOne Company
6. Hoganas AB
7. Optomec Inc.
8. Organovo Holdings Inc.
9. Ponoko Limited
10. Voxeljet AG.

Recent Developments

• October 2022-  Amnovis, an additive manufacturing production, and engineering company in Aarschot, Belgium, has included the DMP Flex 350 Dual from 3D Systems (NYSE: DDD) in its contract manufacturing process. Innovis can produce high-quality, highly reliable end-use parts for various industrial and medical device applications thanks to this next-generation technology, which includes two lasers. Innovis is experiencing increased productivity—at least 50% higher than with the DMP Flex 350 single laser—and decreased costs due to using the DMP Flex 350 Dual solution.
• September 2022- 3D Systems (NYSE: DDD) announced Figure 4® Tough Clear and DuraForm® PAx Black – two new production-grade materials designed to address several industrial applications. Both materials have been engineered for long-lasting mechanical performance and stability in any environment, making them ideal for various end-use applications in industries such as consumer goods, transportation & motorsports, aerospace & defense, and service bureaus.
• January 2023- Rms Company increased medical device production by Using 3D Systems' DMP Flex 350 Dual.
• November 2022- Through a strategic partnership with Wematter, 3D Systems expanded its portfolio of selective laser sintering technologies.
• November 2022- Stratasys Ltd. (NASDAQ: SSYS), a pioneer in polymer 3D printing solutions, today announced the availability of SAFTM PA12 powder from new materials partner ALM for the H350® 3D printer powered by SAF technology as well as 13 new Validated materials for the Fortus® 450mc 3D printer. The Fortus 450mc printer can now print by exploring open materials thanks to the availability of the OpenAMTM software, which also includes an open material license.
• November 2022-  Axial3D Received Strategic Investment from Stratasys.

Segmentation

1. By Type
   1. Steel
   2. Titanium
   3. Aluminum
   4. Nickel
   5. Others
2. By technology
   1. Directed Energy Deposition
   2. Binder Jetting
   3. Powder Bed Fusion
   4. Metal Extrusion
   5. Others (Digital Light Projector, Multi-jet Fusion, and Material Jetting)
3. By Form
   1. Powder
   2. Filament
4. By End Use
   1. Consumer Products
   2. Aerospace & Defense
   3. Automotive & Transportation
   4. Healthcare
   5. Others