The Asia Pacific Metal 3D Printing Market would witness market growth of 20.5% CAGR during the forecast period (2022-2028).
Metal 3D printing is one such market that has reaped the benefits of the increased need for rapid prototyping and improved manufacturing techniques. Due to the increasing use of additive manufacturing in numerous industry verticals, the sector is expected to grow at an unprecedented rate over the forecast period. To bring more innovations in these products, the market players across the world are constantly increasing their efforts in this sector. Increased innovation is a significant growth element for this market, which is leading to various benefits through the usage of metal 3D printing in heavy industry applications.
Another factor driving the market expansion is the increasing utilization of metal 3D printers for product and object design & prototyping, which is accompanied by lower production costs and more accuracy in the final output. The market is expected to see strong demand from the automotive, healthcare, aerospace, & defense industries..
Due to significant economic and demographic expansion, the industrial & construction industries have been driving the demand for 3D & 4D printing in the region. Emerging countries in this region are seeking emerging technologies that are extremely effective, efficient, and environmentally benign. Cranes with vertical lift capabilities and tiny working radii are regarded as a supplementary necessity in several nations in the region, like India & China, where metropolitan areas are densely populated. This opens the door for 4D printing businesses to create machines that can be extended or flattened depending on the available workspace.
Japan, China, & South Korea are among Asia's most advanced 3D printing users. The Ministry of Industry and Information Technology created the National 3D Printing Industry Development Promotion Plan (2015-2016) for the Chinese 3D printing industry, which set targets for innovation & commercialization of 3D printing in the region. As a result, the Chinese market has seen large capital expenditures in the additive manufacturing field from the government, enterprises, & research institutes. This is anticipated to speed up the pace of additive manufacturing in China, paving the door for 4D printing and other innovations.
The China market dominated the Asia Pacific Metal 3D Printing Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $971.7 million by 2028. The Japan market is poised to grow at a CAGR of 19.8% during (2022 - 2028). Additionally, The India market would display a CAGR of 21.3% during (2022 - 2028).
Based on Vertical, the market is segmented into Automotive, Aerospace & Defense, Healthcare, Consumer Electronics, and Power, Energy & Others. Based on Component, the market is segmented into Hardware, Software (Design Software, Inspection Software, Printer Software, and Scanning Software), and Services. Based on Application, the market is segmented into Prototyping and Tooling & Functional Parts. 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. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Metal 3D Printing Market is Projected to reach USD 11.6 Billion by 2028, at a CAGR of 19.5%
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.
By Vertical
By Component
By Application
By Technology
By Country
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