3D Printing Metals Market (Application - Automotive, Aerospace & Defense, Medical & Dental, and Others; Product Type - Aluminum, Nickel, Steel, Titanium, and Others; Form - Filament, and Powder): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report published by Infinium Global Research on the 3D printing metals market provides an in-depth analysis of segments and sub-segments in the global as well as regional 3D printing metals market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional 3D printing metals market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts,s and dollar values of the global 3D printing metals market. According to the report, the global 3D printing metals market is projected to grow at a CAGR of 33% over the forecast period of 2022-2028.

Market Insight

The global 3D printing metals market was valued at over USD 1700 million in 2022 and is expected to reach USD 9700 million in 2028, with a CAGR of 33% during the forecast period. 3D printing is the process of developing three-dimensional objects from a computer-aided design model. This is done by increasing a double layer to the material, which is also known as additive manufacturing. Rising investments in 3D printing companies are projected to support market growth over the coming years. For instance, Mantle Inc. has raised USD 25 million in funding for commercial 3D printing systems in 2022. The market growth is attributable to the cost-effectiveness of 3D printed parts, reduced lead times, and the development of complex parts during production. Increasing demand for fabrication applications and critical engineering by the defense and aerospace industries will enhance the growth.

Increasing investment and utilization by the defense and aerospace sector is fueling the growth of the market during the forecast period. The 3D printing of metals is becoming popular and it is expected that the metal processing industry will enter its advanced generation. The special properties together with complex geometries make these products innovative. Market growth for 3D printing metals is attributed to the increasing demand for high-quality and durable parts with complex architectures in the defense and aerospace sector. Furthermore, the rising utilization of 3D printing metals by industries like medical, dental, and automotive in addition will majorly drive the market growth. Increased investment for new product development, an increase in demand for prosthetics and implants, and advanced high-quality materials. Three-dimensional printing is mostly used in the aerospace industry. The Increasing investment by the major market players will create growth opportunities during the forecast period. However, the high implementation cost of the technology will restrain the growth of the market during the forecast period.

The outbreak of COVID-19 negatively affected the growth of the 3D printing metals market during the forecast period. The spread of the COVID-19 virus has created uncertainties in the market. As the governments of various countries imposed lockdown the people were only allowed to go outside for either an emergency or to purchase essential goods needed. 3D printing of metals was not considered an essential element and the spending of the population decreased during the pandemic. This affected the demand of the market during the forecast period. Furthermore, the delays from vendors and suppliers had caused constant delays in the production of the filament and powders. Manufacturing operations have been more severely affected due to a labor shortage and shutdowns of facilities. Due to these reasons, the growth of the market was restrained during the covid-19 pandemic.

Segment Covered

The report on the global 3D printing metals market covers segments such as application, product type, and form. On the basis of application, the sub-markets include automotive, aerospace & defense, medical & dental, and others. On the basis of product type, the sub-markets include aluminum, nickel, steel, titanium, and others. On the basis of form, the sub-markets include filament, and powder.

Companies Profiled:

The report provides profiles of the companies in the market such as Arcam AB, Carpenter Technology Corporation, Eos GmbH Electro Optical Systems, Hoganas AB, GKN PLC, Optomec Inc., PLW Technology Ltd., Renishaw PLC, Sandvik AB, and Voxeljet AG.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the 3D printing metals market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.