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. 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.
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.
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.
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.
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.
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.
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.
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.
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.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 3.5 Billion |
| Market size forecast in 2028 | USD 11.6 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 19.5% from 2022 to 2028 |
| Number of Pages | 357 |
| Number of Tables | 603 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Technology, Application, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
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| Restraints |
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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.
Free Valuable Insights: Global Metal 3D Printing Market size to reach USD 11.6 Billion by 2028
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.
By Vertical
By Component
By Application
By Technology
By Geography
The global metal 3D printing market size is expected to reach $11.6 billion by 2028.
Increasing utilization of metal 3D printing in the manufacturing application are driving the market in coming years, however, complex procedure of using the SLS printing software growth of the market.
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.
The expected CAGR of the metal 3D printing market is 19.5% from 2022 to 2028.
The Automotive segment acquired maximum revenue share in the Global Metal 3D Printing Market by Vertical in 2021, thereby, achieving a market value of $3.2 billion by 2028.
The North America market dominated the Global Metal 3D Printing Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.9 billion by 2028.
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