3D Printing Metal Market Size, Share & Trends Report

3D Printing Metal Market Size, Share & Trends Analysis Report By Form (Filament, Powder), By Product (Steel, Titanium, Nickel), By Application (Medical, Aerospace & Defense), And Segment Forecasts, 2019 - 2025

  • Published Date: Jan, 2019
  • Base Year for Estimate: 2017
  • Report ID: GVR-1-68038-848-0
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 140

Industry Insights

The global 3D printing metal market size was valued at USD 334.4 million in 2017. It is expected to witness a CAGR of 31.8% from 2017 to 2025. Cost-effectiveness, low waste, and greater design flexibility associated with additive manufacturing are some of the factors driving the market.

Increasing demand for 3D metal printing, especially in aerospace & defense applications, is likely to boost product utilization. Manufacturers are becoming increasingly aware regarding the significant cost & weight reduction provided by 3D printers. For instance, the manufacturing industry is poised to experience an upswing in the adoption of production-grade printing machines to augment profitability, reduce lead time, and improve product quality.

U.S. 3D printing metal market

Reduced prices of 3D printers coupled with availability of advanced raw materials such as stainless steel powder have helped the market gain momentum in the last few years. Huge investments in research & development (R&D) activities have been facilitating manufacturing of components, especially in the aerospace sector. Furthermore, recent technological trends that denote development of advanced & better quality products such as Inconel powder are projected to benefit market growth.

Rising number of applications for additive manufacturing in medical & dental, oil & gas, and educational fields among others present lucrative opportunities for product penetration. Possibility of custom manufacturing of parts through 3D printing has the potential to unlock new revenue streams in diverse applications. Therefore, the market is anticipated to witness rapid growth over the forecast period.

Increasing investments in R&D activities from academic and corporate organizations are estimated to fuel the utilization of metals in additive manufacturing. However, high costs of metal powder and industrial-grade printers are expected to significantly impede the growth of the market.

Form Insights

Powder was the largest form segment in 2017 and accounted for approximately 95.0% of the overall revenue. Rising utilization of powders in pure metal equipment manufacturing is likely to encourage market players to invest in this segment. For instance, in July 2016, Alcoa established a new 3D printing metal powder plant to produce nickel, titanium, and aluminum powders optimized for aerospace applications.

Availability of powders in pure metal form has backed the demand from aerospace, automotive, and medical industries. Spherical shape of metal particles is considered of high quality as it ensures free flow of particles, thus easing printing process.

In terms of revenue, the filament segment is poised to post a CAGR of 33.9% in terms of revenue during the same period. Cost advantages offered by filament as opposed to metal powders are the primary factor driving the segment. However, large-scale utilization of metal powders in the aerospace & defense and automotive industries is projected to restrict the growth of the segment.

Application Insights

Aerospace & defense dominated the global 3D printing metal market in 2017. It represented more than 40.0% of the overall volume in the same year. The ability of the aeronautics industry to adapt to new technologies and bear high initial costs are anticipated to fuel product demand in this sector.

3D printers are capable of manufacturing products with complex geometries, which is estimated to benefit the aviation industry in the future.In addition, increasing defense spending by several governments due to escalating political tensions can also work in favor of the segment.

The medical & dental application segment is expected to progress at a 30.3% CAGR by revenue over the forecast period. Increasing applications of 3D printing in the healthcare industry coupled with shorter supply chain advantages for products associated with critical operations are likely to contribute to the growth of the segment

The others application segment, including jewelry, industrial components, oil & gas, and construction, is poised to register rapid growth over the forecast period. Increasing investments by these sectors to adopt 3D printing technology are projected to supplement market growth.

Product Insights

Titanium accounted for the leading revenue share of 63.0% in the market in 2017. The segment is anticipated to exhibit the highest CAGR during the forecast period. Use of titanium in the aerospace sector, owing to its high corrosion resistance and high tensile strength to density ratio, is estimated to be a major factor in supporting the growth of the segment.

Global 3D printing metal market

In terms of revenue, nickel accounted for over 15.0% of the market in 2017. Nickel and Inconel are being increasingly adopted in the aviation industry owing to their excellent strength and fatigue resistance. Nickel is highly resistant to extreme temperatures and is, thus, extensively utilized in pistons, cylinder liners, brake systems, and turbochargers for automobiles.

Steel is considered to be one of the cheapest forms of metal used for 3D printing. Steel alloys that contain nickel and cobalt are highly elastic. In addition, these alloys are hard to break and are, thus, used in industrial applications.

Characteristics of steel such as low cost, durability, light weight, high-temperature resistance, and shorter production time as compared to other metals are expected to increase the utilization of steel powder in many applications including automotive, military, manufacturing, construction, and jewelry.

Regional Insights

North America witnessed the highest demand and commanded approximately 35.0% of the total market volume in 2017. Innovative product launches and product promotion strategies being undertaken by manufacturers, such as ExOne GmbH, 3D Systems Corporation, and Carpenter Technology Corporation, in the region have been bolstering the growth of the market.

In terms of revenue, Asia Pacific is likely to progress at the fastest CAGR of 34.1% in terms of value from 2017 to 2025 due to rapid industrialization in emerging economies across the region. Promotion of private investments by various governments is boosting the manufacturing sector, which, in turn, is poised to stir up product demand in the region. Rising investments from governments and private institutions in 3D printing are playing a pivotal role in the development of the regional market.

Europe is projected to be the highest revenue contributor in the market by 2025. Flourishing aviation industry owing to low fuel cost is stimulating the demand for new aircrafts, which, in turn, can provide a fillip to the regional market.

In Central & South America, rapid industrialization, supportive government regulations, and rising trend of adopting new technologies are factors anticipated to stimulate the demand for 3D printing metals. In April 2015, MakerBot partnered with Distenca to provide 3D printing solutions in order to leverage strong local presence and logistics capabilities of Distenca across the region.

3D Printing Metal Market Share Insights

The market is competitive in nature as increasing number of players are entering into the market. In the value chain of 3D printing metal powder, manufacturers are estimated to witness lucrative growth opportunities owing to rising demand for innovative and high-quality metal powders with enhanced properties.

New product development through extensive research & development activities is the major strategy being adopted by companies in the market. For instance, in November 2018, 3D systems launched a new aluminum alloy material for the production of strong but lightweight parts.

Report Scope 

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD million, volume in tons, and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa

Country scope

U.S., Germany, U.K., China, Japan, and Brazil

Report coverage      

Revenue and volume forecast, company share, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue and volume growth at country & regional levels and provides an analysis of trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global 3D printing metal market report on the basis of form, application, product, and region:

  • Form Outlook (Revenue, USD Million; Volume, Tons, 2014 - 2025)

    • Powder

    • Filament

  • Application Outlook (Revenue, USD Million; Volume, Tons, 2014 - 2025)

    • Aerospace & defense

    • Automotive

    • Medical & dental

    • Others

  • Product Outlook (Revenue, USD Million; Volume, Tons, 2014 - 2025)

    • Titanium

    • Nickel

    • Steel

    • Aluminum

    • Others

  • Regional Outlook (Revenue, USD Million; Volume, Tons, 2014 - 2025)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

Key questions answered by the report
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