According to our latest market study on "3D Printing Metal Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Metal Type, Form, and End-use Industry," the market is expected to grow from US$ 4.5 billion in 2021 to more than US$ 13 billion by 2028 at a CAGR of 16.5% between 2022 and 2028.
Different types of metals can be used in various forms to manufacture parts through 3D printing. Metals such as titanium, steel, stainless steel, aluminum, copper, cobalt chrome, titanium, tungsten, nickel-based alloys, and precious metals such as gold, platinum, palladium, and silver are used for 3D printing. Different properties of all these metals make them suitable for a range of applications. Stainless steel offers excellent corrosion resistance, which makes it ideal for printing pipes, valves, and steam turbine parts.
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Based on form, the 3D printing metal market is segmented into powder, filament, and others. Metal powder is the backbone of metal 3D printing. It is a metal that is reduced to fine particles. Metal powder is the preliminary base material for most 3D printing processes that produce metallic parts. Many of the metal 3D printing technologies utilize metal powder. The powder form of metal is used to manufacture engine parts and components. Metal powders used in 3D printing include alloys of nickel, steel, cobalt, and titanium. Nickel powder is used in aerospace engine components, gas turbine components, high-temperature, and corrosion-resistant components.
3D printing metals are used in various end-use industries such as aerospace & defense, automotive, medical, and construction. Metallic materials are used for printing complex structures for prototyping and manufacturing components. The 3D printing metal market is mainly driven by the growing use of 3D printed metal parts in aerospace & defense and automotive industries. The benefits of metal 3D printing in aerospace applications include significant lead-time reductions, novel materials and unique design solutions, mass reduction of components through highly efficient designs, and consolidation of multiple components for performance enhancement. All these benefits are leading to the increasing use of metal 3D printing in the aerospace industry, driving the 3D printing metal market. Further, 3D printing allows for rapid functional prototyping of complex automotive components and the creation of on-demand tooling, increasing design flexibility and shortening product development timelines. The global automotive sector has witnessed tremendous growth in the last decade. The automotive industry in China has been growing rapidly, and the country is playing an increasingly important role in the global automotive market. The growing automotive industry in various countries across the globe is creating a massive demand for 3D printing metals.
Various market players are focusing on launching metal additive manufacturing machines that are faster, easier to use, and more powerful with an increasing number of compatible metals. This is further fueling the 3D printing metal market growth.
The key players operating in the global 3D printing metal market include Stratasys; CRS Holdings, LLC; Materialise; Sandvik AB; Höganäs AB; Desktop Metal, Inc.; SLM Solutions; and EOS. Several other major companies were studied and analyzed during this research study to get a holistic view of the 3D printing metal market and its ecosystem. Players operating in the 3D printing metal market are focusing on providing high-quality products to fulfill customer demand.
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