UK markets closed
  • FTSE 100

    7,168.65
    -0.63 (-0.01%)
     
  • FTSE 250

    18,636.98
    -29.80 (-0.16%)
     
  • AIM

    875.21
    -1.01 (-0.12%)
     
  • GBP/EUR

    1.1593
    -0.0018 (-0.16%)
     
  • GBP/USD

    1.2103
    -0.0072 (-0.59%)
     
  • BTC-GBP

    15,909.66
    -222.07 (-1.38%)
     
  • CMC Crypto 200

    420.84
    +0.70 (+0.17%)
     
  • S&P 500

    3,825.33
    +39.95 (+1.06%)
     
  • DOW

    31,097.26
    +321.83 (+1.05%)
     
  • CRUDE OIL

    108.46
    +2.70 (+2.55%)
     
  • GOLD FUTURES

    1,812.90
    +5.60 (+0.31%)
     
  • NIKKEI 225

    25,935.62
    -457.42 (-1.73%)
     
  • HANG SENG

    21,859.79
    -137.10 (-0.62%)
     
  • DAX

    12,813.03
    +29.26 (+0.23%)
     
  • CAC 40

    5,931.06
    +8.20 (+0.14%)
     

Global Metal 3D Printing Market Size, Share & Industry Trends Analysis Report By Vertical, By Component, By Application, By Technology, By Regional Outlook and Forecast, 2022 – 2028

·12-min read
ReportLinker
ReportLinker

The Global Metal 3D Printing Market size is expected to reach $11. 6 billion by 2028, rising at a market growth of 19. 5% CAGR during the forecast period. Powdered metals are used in Metal 3D Printing, which is a laser-based process.

New York, June 17, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Metal 3D Printing Market Size, Share & Industry Trends Analysis Report By Vertical, By Component, By Application, By Technology, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06283447/?utm_source=GNW
It allows for the direct fabrication of complex end-user components & promotes tooling for traditional manufacturing technologies, lowering costs and shortening lead times. Direct Metal Laser Sintering & Selective Laser Melting are two terms for this technology. Both approaches employ a laser to scan & selectively fuse metal powder particles, fusing them and constructing a component layer by layer. In the manufacturing of end-use engineering goods, both Direct Metal Laser Sintering (DMLS) & Selective Laser Melting (SLM) are used. SLM and DMLS are metal additive manufacturing technologies that are part of the powder bed fusion 3D printing family. In addition, metals in the granular form are employed in both processes.

One of the most significant advantages of 3-D printers is their ability to circumvent many design and production limits. They can skip assembly phases & produce previously unimaginable structures, like a custom-printed metal rib cage for a cancer patient. Printing component interiors as nonsolid, bone-like structures, for example, can minimize the amount of material required for a part while yet delivering the same functional specifications as traditional parts. Manufacturers may now 3D–print complex structures with enhanced qualities, as they have begun to do with lightweight vehicle seats and airplane belt buckles.

Most 3-D–printed products are rapidly reaching the quality of their traditionally manufactured counterparts. The quality of wrought things is already similar to that of products made using traditional methods. On milled products, 3-D printing is getting close, but further processing, like heat treatment or hardening, may be required to attain the desired physical qualities. 3-D printing is gaining traction for highly heat-resistant super alloys like those used in jet engine manufacture because it saves time and money over traditional machining.

COVID-19 Impact

The COVID-19 pandemic has had a tremendous influence on the worldwide economy and, as a result, the 3D printing sector. In the beginning, Europe & Asia Pacific were among the badly-affected regions in terms of COVID-19 patients world. Moreover, the situation in the United States worsened. The governments issued an order for the entire closure of some key cities due to the virus’s rapid spread. The entire lockdown had an impact on 3D printer manufacturers. This is due to a manpower shortage & a complete breakdown of the logistics & supply chain all over the world. In the first & second quarters of 2020, the suspension of 3D printing output impacted overall market growth.

Market Growth Factors

Lower manufacturing as well as reduced time to the market

To develop prototypes for use all over industries, a variety of 3D printing technologies are being used, including filament-based fused deposition modeling (FDM) for plastic prototypes, laser-curing processes for photopolymer resin parts, and powder bed fusion machines for fully dense metal and plastic components. SLS-printed end-use parts are used by many companies. Lockheed Martin (US), for example, uses more than a dozen 3D-printed waveguide support brackets in its Juno spacecraft, which is presently orbiting Jupiter. Moreover, Activated Research Company (US) employed DMLS technology for 3D printing to produce a radical new design for its Polyarc gas chromatography catalytic microreactor. This aided the company in bringing its product to market in less than 15 months.

Increasing utilization of metal 3D printing in the manufacturing application

SLS has been on the market for a long time. Until 2014, it was a patented technology. There have been significant technological breakthroughs since 2015, and SLS-based equipment has improved. In the past few years, industrial use of SLS equipment has also increased & improved. There have been numerous breakthroughs in printers & printing technology, as well as printing materials and labor skill sets. Moreover, metal-based printers are becoming more popular in the aerospace & medical device industries. SLS equipment is likely to be used for 3D printing surgical instruments in the medical devices or healthcare industries. In addition, the automotive industry is expanding rapidly in several regions, particularly in Europe. Between 2009 & 2016, the market for vehicle production rose at a decent rate, comprising passenger automobiles and commercial vehicles.

Market Restraining Factors

Complex procedure of using the SLS printing software

In SLS printing, the software used to design the product plays a critical role. Computer-aided design (CAD) is the most commonly used program, which displays a virtual 3D representation of the product. The SLS-based 3D printing technique, which requires CAD data, includes layer-by-layer fusing of nylon particles with a high-power laser to generate a durable, functioning object with excellent mechanical qualities. For processing, 3D CAD data is first transformed into an STL file. Many manufacturers and end-user sectors still lack the knowledge required to operate 3D printing software, making it difficult for them to apply these software solutions. As a consequence, for unique production part requirements, such producers must rely on external SLS printing service bureaus.

Vertical Outlook

Based on Vertical, the market is segmented into Automotive, Aerospace & Defense, Healthcare, Consumer Electronics, and Power, Energy & Others. Healthcare segment garnered a significant revenue share in the metal 3D printing market in 2021. Additive manufacturing aids in the production of artificial tissues and muscles that mimic real human tissues and can be utilized in replacement procedures in the healthcare sector. These skills are projected to aid in the adoption of metal 3D printing in the healthcare sector, as well as contribute significantly to the healthcare segment’s growth.

Component Outlook

Based on Component, the market is segmented into Hardware, Software (Design Software, Inspection Software, Printer Software, and Scanning Software), and Services. Hardware segment acquired the highest revenue share in metal 3D printing market in 2021. The constantly rising growth of this segment is owing to the significance of hardware products. Technology & application are the major components of the hardware segment. In addition, another factor that is playing a major role in expediting the growth of this segment is rapid technological advancements in the hardware of metal 3D printing machines.

Application Outlook

Based on Application, the market is segmented into Prototyping and Tooling & Functional Parts. The Tooling & Functional Parts segment garnered significant revenue share in the metal 3D printing market in 2021. Smaller joints & other metallic hardware connecting components are examples of functional pieces. When developing machinery and systems, the accuracy and precision sizing of these functioning pieces are critical. In line with the growing need for designing and manufacturing functional components, the functional parts category is predicted to grow significantly in the coming years.

Technology Outlook

Based on Technology, the market is segmented into Selective Laser Melting, Electron Beam Melting, Electron Beam Freeform Fabrication, Laser Metal Deposition, Direct Metal Laser Sintering, Laminated Object Manufacturing, Inkjet Printing, and Selective Laser Sintering. Selective Laser Melting (SLM) segment acquired the highest revenue share in the metal 3D printing market in 2021. The benefits & ease of operation associated with SLM technology are encouraging its adoption. Additionally, advancements in technology & aggressive research & development activities carried out by industry experts & researchers are opening doors for a variety of other efficient and reliable technologies.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, Asia-Pacific accounted for a significant revenue share of the metal 3D printing market. The increasing adoption of metal 3D printing in the Asia Pacific can be ascribed to the region’s manufacturing industry’s expansions & upgrades. Additionally,, the Asia Pacific region is transforming into a manufacturing center for the automotive & healthcare industries. A grip on consumer electronics manufacture, combined with increased urbanization, is also driving up demand for 3D printing in the region.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Sandvik AB are the forerunners in the Metals 3D Printing Market. Companies such as Stratasys Ltd., General Electric Company, and Carpenter Technology Corporation are some of the key innovators in Metals 3D Printing Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co., 3D Systems Corporation, Stratasys Ltd., Carpenter Technology Corporation, Voxeljet AG, Sandvik AB, The ExOne company (Desktop Metal, Inc.), EOS GmbH - Electro Optical Systems, Materialise NV, and Renishaw PLC.

Recent Strategies Deployed in 3D Printing Metals Market

Partnerships, Collaborations, and Agreements

Mar-2022: Stratasys formed a partnership with Oqton and Riven with the continued expansion of the GrabCAD Software Partner Program. This Program is part of the latest unveiled GrabCAD Additive Manufacturing Platform, which would unify GrabCAD applications & third-party GrabCAD Software Partners through the GrabCAD Software Development Kit (SDK).

Sep-2021: General Electric Renewable Energy formed a partnership with Fraunhofer and Voxeljet. The companies aimed to create the world’s largest 3D printer for purpose of offshore wind applications. Under this partnership, the companies would develop a large-format 3D printer capable of producing sand molds to cast metal parts for use in an offshore wind turbine nacelle.

Sep-2021: Voxeljet came into partnership with General Electric, Fraunhofer. The partnership aimed to develop the largest 3D printer for offshore wind applications across the world, to streamline the production of the main components of General Electric’s Halide-X offshore wind turbine.

Sep-2021: ExOne formed a partnership with the Fraunhofer Institute for Manufacturing Technology and Advanced Materials. The partnership aimed to put more focus on binder & materials development projects following the success of the CleanFuse metal binder.

Mar-2021: Sandvik joined hands with Immensa and BEAMIT, a European service provider. The collaboration aimed to help advance 3D printing in the Middle East North Africa region.

Feb-2021: ExOne came into a partnership with ABC Corporation. This partnership aimed to authorize ABC Corporation as a channel partner to sell ExOne industrial solutions in South Korea.

Acquisitions and Mergers:

Feb-2022: 3D Systems signed an agreement to acquire Kumovis, an additive manufacturing solutions provider for personalized healthcare applications. In this acquisition, 3D Systems aimed to add a unique extrusion technology to its extensive polymer printing healthcare portfolio, enabling the company to expand its addressable market for customized healthcare applications.

Nov-2021: Materialize signed an agreement to acquire Link3D, an additive workflow & digital manufacturing software company. By combining Link3D’s additive MES (Manufacturing Execution System) solution with the Materialise Magics software suite into a unified, cloud-based software platform, various manufacturers would be able to run and constantly enhance the most efficient, repeatable, automated, and controlled processes to mass-produce identical or personalized products.

Oct-2021: 3D Systems took over Volumetric Biotechnologies, a Houston-based biotech company. Under this acquisition, 3D Systems would establish a top-class research capability in Houston, Texas that would be determined to lead in technologies associated with life sciences.

Sep-2021: 3D Systems signed an agreement to acquire Oqton, a software company, a leader in the creation of a new breed of intelligent, cloud-based Manufacturing Operating System (MOS) platform. Under this acquisition, the company aimed to expand its availability to the entire additive manufacturing industry & customer base with its most advanced software platforms 3DXpert, 3D Sprint, its Geomagic portfolio, & Additive Works’ Amphyon as optional add-ons to the Oqton MOS platform.

Dec-2020: Stratasys Ltd. announced it signed an agreement to acquire 3D printing start-up Origin Inc. The merger enables Stratasys to expand its leadership through innovation in the fast-growing mass production parts segment with a next-generation photopolymer platform. Dec-Dec-2020: Stratasys announced the acquisition of Origin, a 3D printing start-up. This acquisition aimed to expand its leadership through innovation in the rapidly-growing mass production parts segment with a next-generation photopolymer platform.

Product Launches and Product Expansions:

Nov-2021: Renishaw introduced the RenAM 500S Flex, the latest range of 3D printing machinery. RenAM 500S Flex is a single laser additive manufacturing machine & the RenAM 500Q Flex, is a four laser AM machine. Both the machines are variants of the RenAM 500 range & equipped with a powder handling system which proves beneficial for manufacturers who on regular intervals swap build materials during production.

Nov-2021: General Electric Additive unveiled a cloud-based process management software platform at Formnext. The main advantage of the Print Model module comprises automation of manual tasks, like support generation, nesting & slicing to process an ability to carry out design work while process-intensive tasks run in the background.

Jun-2021: Stratasys unveiled its two new full-color PolyJet 3D printing systems & two software products. These products would help users in the packaging & research fields.

2021-Apr-2021: Sandvik and part subsidiary BEAMIT Group unveiled a unique capability to additive manufacture components in super-duplex stainless steel. The components printed on Osprey 2507 metal powder are known & trusted for their excellent corrosion resistance and durability.

Feb-2021: 3D Systems unveiled a novel High-Speed Fusion industrial 3D printer platform & material portfolio. Under this collaboration with Jabil, this dynamic High-Speed Fusion family of products, comprising the Roadrunner 3D printer, is likely to deliver the best economics of any high throughput industrial fused-filament offering in the present market.

Scope of the Study

Market Segments covered in the Report:

By Vertical

• Automotive

• Aerospace & Defense

• Healthcare

• Consumer Electronics

• Power, Energy & Others

By Component

• Hardware

• Software

o Design Software

o Inspection Software

o Printer Software

o Scanning Software

• Services

By Application

• Prototyping

• Tooling & Functional Parts

By Technology

• Selective Laser Melting

• Electron Beam Melting

• Electron Beam Freeform Fabrication

• Laser Metal Deposition

• Direct Metal Laser Sintering

• Laminated Object Manufacturing

• Inkjet Printing

• Selective Laser Sintering

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• General Electric (GE) Co.

• 3D Systems Corporation

• Stratasys Ltd.

• Carpenter Technology Corporation

• Voxeljet AG

• Sandvik AB

• The ExOne company (Desktop Metal, Inc.)

• EOS GmbH - Electro Optical Systems

• Materialise NV

• Renishaw PLC

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06283447/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting