The global 3D printing metals market is expected to reach USD 2.86 billion by 2025, according to a new report by Grand View Research, Inc. Metals are the fastest growing 3D printing materials worldwide on account of high application scope coupled with increasing demand from the medical and dental application.
The market has witnessed advancements, both in terms of technologies and materials, in order to facilitate low cost and mass production of the products. This would also lead to flexibility in designs and ease of manufacturing of products for wide range of applications.
Numerous companies including GE have been utilizing metal 3D printing for the development of aerospace parts. In December 2016, Sigma Labs entered into a new contract with Honeywell aerospace. The Defense Advanced Research Project Agency (DARPA) selected the company for completion of phase III of the Open Manufacturing (OM) program. It is aimed at reducing the barriers involved in the metal 3D printing process including speed, cost, and repeatability.
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Further key findings from the report suggest:
Powder segment is expected to witness the fastest CAGR of over 30% from 2016 to 2025 on account of significant technological development in the field of metal printers
Aerospace & defense sector dominated the industry in 2015 with a share of over 35% and is anticipated to witness significant growth on account of high application scope in military aircraft, aircraft engine, commercial aircraft, complex weapon systems, high volume weapons, and munition components
The medical sector accounted for a share of over 30%, in terms of revenue, in 2015 on account of increasing use of the technology in medical implants, medical devices, and surgical equipment including crowns & bridges, model castings, and abutments
Titanium is expected to witness rapid growth from 2016 to 2025 on account of superior mechanical properties, accuracy in production, and early adoption of the product in aerospace & defense and medical industry
Asia Pacific is anticipated to witness the fastest growth of over 30% from 2016 to 2025 on account of rapid industrial development, supportive government policies, and high R&D investment in China, Japan, and South Korea
New product development is one of the major strategies being adopted by the industry players in order to strengthen their global position
Grand View Research has segmented the global 3D printing metals market on the basis of form, product, application, and region:
Form Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Aerospace & Defense
Medical & Dental
Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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