New York, NY, Dec. 06, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “3D Printing Metals Market by Type (Titanium, Steel, Nickel, Aluminum, and Others), by Form (Powder and Filament), and by End-use (Aerospace & Defense, Automotive, Healthcare, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2024”. According to the report, global 3D printing metals market as valued at approximately USD 450 million in 2017 and is expected to generate revenue of around USD 2,321 million by the end of 2024, growing at a CAGR of around 26.4% between 2018 and 2024.
The increasing technological advancements combined with 3D technology are projected to foster the growth of the market. Continuous investments made by the leading organizations towards the 3D printing technology and their equipment are the key factors primarily driving the growth of the market. 3D metal printing is an industrial technology which is utilized for the production of smaller structures with compact designs. The growing acceptance of 3D metal printing as a commercial manufacturing technology in different industrial sectors is likely to boost market development. Industries such as healthcare & medical, aerospace &defense, and others are the early adopters of 3D printing technology for production and manufacturing of various components. This has resulted in an increasing demand for tools, materials, or components that are used in 3D printing. Moreover, the high pace of manufacturing/production of the compact structures coupled with high geometrical shape accuracy is a special attribute of the 3D metal printing technology. So, this attribute will have a positive impact on the growth of the market. These factors are set to spur the3D printing metals market growth over the forecast timeline. However, space constraint is one of the factors that is restraining the market growth.
Browse through 72 Tables & 22 Figures spread over 110 Pages and in-depth TOC on “Global 3D Printing Metals Market Size & Share 2018: Industry Type, Trends, Demand, Growth Analysis and Forecast to 2024”.
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The 3D printing metals market is segmented on the basis of the type which is further divided into aluminum, titanium, steel, nickel, and others. Titanium segment will dominate the market in the upcoming years since titanium is considered to be the strongest metal. Also, due to its composition, titanium is resistant to wear and tear and can also withstand high temperatures and harsh environment.
Based on the form, the3D printing metals market has been segmented into filament and powder. Powder segment is set to dominate the market over the forthcoming years. The growth of the market is attributed because they are made from pure metals and are ready to be utilized in industrial applications.
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Based on the end-use, 3D printing metals market has been segmented into automotive, healthcare, aerospace & defense, and others. Aerospace &defense segments estimated to dominate the market in the near future. The growth of the market is attributed because the aerospace & defense segment, which have specific requirements of strong metals coupled with lightweight nature and precise and accurate designs.
Asia Pacific region is growing with the highest growth rate in the global 3D printing metals market. The region is anticipated to continue its leading position over the estimated period. The growth of this regional market is attributed to rapid technological advancements. Additionally, the rapidly growing manufacturing sector coupled with increasing economic development witnessed across emerging nations such as India and China will fuel the growth of the regional market. These factors are anticipated to further drive industry growth in the region over the forecast span.
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North American region is projected to have a significant revenue share in the global 3D printing metals market over the years ahead. The region is considered developed and diverse. With the presence of big players across the region, most of the research activities and product developments are confined to the region. This will boost the regional market growth. Moreover, the recent policy changes regarding 3D printing materials witnessed across the U.S. is likely to support the growth of 3D printing metals market in the region.
Europe 3D printing metals market is predicted to offer significant growth opportunities for the market during the forecast timeframe. The growth of the 3D printing metals market in the region can be attributed to the increasing use of lightweight metals with designs and printing as a chassis in automobiles for making these vehicles fuel efficient.
Browse the full “3D Printing Metals Market by Type (Titanium, Steel, Nickel, Aluminum, and Others), by Form (Powder and Filament), and by End-use (Aerospace & Defense, Automotive, Healthcare, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2024” report at https://www.zionmarketresearch.com/report/3d-printing-metals-market
Some of the industry players operating in the 3D printing metals market include 3D Systems Corporation, Optomec Inc., Arcam AB, Sandvik AB, Renishaw PLC, Carpenter Technology Corporation, Voxeljet AG, GKN PLC, Höganäs AB, and Concept Laser GmbH.
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This report segments the global 3D printing metals market as follows:
Global 3D Printing Metals Market: Type Segment Analysis
Global 3D printing Metals Market: Form Segment Analysis
Global 3D printing Metals Market: End-use Segment Analysis
- Aerospace & Defense
Global 3D printing Metals Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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