3D (three-dimensional) printing is the process of developing 3D object from a computer-aided design (CAD) model, which is done by adding material layer by layer, also known as additive manufacturing. Metals used for 3D printing are identified by 3D printing metals. 3D printing materials are used for manufacturing the solid objects. These materials are of different types for instance plastics, ceramics, metal, and other materials. They are used by engineers, architects, designers, surgeons, and other professionals to make delegate models for clients & students.
According to study, “Metal Materials for 3D Printing Market By form type (powder and filament); By metal type (titanium, aluminum, nickel, stainless steel and others); By end user (medical, automotive, aerospace and defense and others); and Region –Analysis of Market Size, Share and Trends for 2014 – 2019 and Forecasts to 2030” the key companies operating in the global metal materials for 3D printing market are Renishaw PLC, Carpenter Technology Corporation, Arcam AB, Eos Gmbh Elctro Optical Systems, Hoganas AB, Sankdvik AB, Voxeljet AG, GKN PLC, 3D Systems Corporation.
By form type, metal materials for 3D printing market are segmented as filament and powder. The powder segment holds major share in global market owing to substantial technological advancement in the field of metal printers. Based on metal type, market is segmented as aluminum, titanium, stainless steel, nickel and others. Titanium segment is anticipated to witness higher growth rate due to production precision, superior mechanical properties, and early product acceptance in the aerospace & defense and medical industries during the forecast period. In addition, based on end-user, market is segmented as medical, aerospace & defense, automotive and others. The medical sector dominates the market because of increase in use of the technology in medical instruments, medical implants, and surgical equipment including crowns & bridges, model castings, and abutments. Additionally, the aerospace & defense sector is likely to witness higher growth rate as a result of wider variety of use in military aircraft, weapons of high volume, commercial aircraft, aircraft engines, complex weapon systems, and components of munitions during the forecast period.
The metal materials for 3D printing market is driven by mass customization of products with complex design & structure, followed by rise in demand from the aerospace & defense and automotive industries, low manufacturing cost, reduction in waste generation during production and reduction in lead times. However, high metal cost and limitation of printer size may impact the market. Moreover, increase in penetration of 3D printing in emerging countries, potential to enhance manufacturing & supply chain management and increase in applications of 3D printing metals are key opportunities for market.
Based on geography, the Asian-Pacific region holds major share in global metal materials for 3D printing market owing to increase in investment in healthcare, building & development and consumer electronics industries in the region. The North-American and European regions are estimated to exhibit substantial growth rate due to rise in adoption of 3D printing in end-user industries for instance automotive, aerospace & defense, and tool & mold making during the forecast period.
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Ankur Gupta, Head Marketing & Communications