3D Printing Metal Market Size, Share & Trends Report

3D Printing Metal Market Size, Share & Trends Analysis Report By Form (Powder, Filament), By Product (Titanium, Nickel, Steel, Aluminum), By Application, By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Jun, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-1-68038-848-0
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 140

Report Overview

The global 3D printing metal market size was valued at USD 772.1 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 27.8% from 2020 to 2027. Increasing penetration of metal 3D printing owing to greater design flexibility, low waste, and cost effectiveness in the overall manufacturing landscape is estimated to be a key factor driving the market.

U.S. 3D printing metals market size

Since additive manufacturing (AM) can produce parts without the prerequisite of specific tools, the startup costs of all AM technologies are relatively lower. This makes AM an economically suitable alternative for low-run production, prototypes, and one-off custom parts. Today, a rising number of manufacturing and engineering firms are exploring the advantages offered by 3D printing technologies to design and produce unique parts. Some firms have even started serial production using AM technology.

Growing adoption of AM in the medical, automotive, and aerospace and defense sectors is projected to drive the U.S. market. For instance, in 2019, Lima Corporate, a U.S.-based company, has commercialized hip cup implants produced using additive manufacturing. The company announced that it will start an on-site AM facility at a hospital located in New York by 2020.

In the aerospace and defense segment, companies are rapidly making progress through various joint ventures and partnerships. In February 2019, Launcher, Orbex, and ArianeGroup revealed their progress on manufacturing rocket engines using AM process. In another deal, Relativity Space signed an agreement with NASA to start a robotic factory using additive manufacturing.

Early adoption of additive manufacturing technology, a growing number of startups, and an increasing number of patents are some of the key drivers of the U.S. market. U.S. is characterized by the presence of established players, such as Stratasys and 3D Systems, along with traditional manufacturing companies, such as HP and GE, who are showing keen interest in metal AM.

Form Insights

Powder form dominated the market in 2019 with a volume share of 92.6%. Powders used for additive manufacturing are characterized by high packing density and spherical morphology, which grant good flow properties. Carpenter Technology Corporation is a prominent supplier of powders for AM technology. In July 2018, the company signed a contract with GE Additive to supply metal powder to GE Additive, along with other materials.

Filaments are expected to register a CAGR of 25.8%, in terms of volume, from 2020 to 2027. The manufacturers have been investing in R&D to develop low-cost technologies for printing with filament as compared to selective laser melting with metal powders. This is likely to augment the segment growth over the coming years.

Product Insights

Titanium led the market and accounted for 65.3% share of the global revenue in 2019. The use of titanium by the aerospace industry to 3D print equipment prototypes is anticipated to be a major factor in facilitating product growth. The ability of the product to meet industry requirements in terms of weight, strength and corrosive properties is anticipated to lead to sustainable growth.

Aluminum is expected to expand at a significant CAGR of 26.0%, in terms of revenue, from 2020 to 2027. AM using aluminum often has a high success ratio compared to other conventional methods, such as casting and forging. In 3D printing, aluminum alloy-based materials are best suited for SLM (Selective Laser Melting) and DMLS (Direct Metal Laser Sintering) technologies.

Demand for nickel-based alloys is growing in additive manufacturing on account of excellent corrosion and thermal-fatigue properties possessed by these materials. Industries such as oil and gas, chemical, process equipment, marine, and aerospace are the key end users of nickel-based powders in the market.

Arconic, a leading player in the additive manufacturing industry, is a supplier of products 3D printed from high-temperature nickel superalloys. In 2017, Arconic formed an agreement with Airbus to supply nickel-based parts made from AM technology for the A320 family of aircraft.

Application Insights

The aerospace and defense application segment accounted for the largest revenue share of 45.6% in 2019. Metal AM technology is considered to be the new industrial revolution within the global aerospace or aviation sector. Prominent aviation vendors such as Airbus and Boeing have made great progress over the recent years to successfully use 3D printed components for the purpose of prototyping and custom parts.

The medical and dental application segment is projected to expand at a CAGR of 28.5%, in terms of volume, from 2020 to 2027. The ongoing COVID-19 pandemic in 2020 has underpinned the significance of additive manufacturing due to its supply chain advantages. For instance, in the first quarter of 2020, Italian metal AM industry played a crucial role in supplying components needed for medical devices.

Global 3D printing metals market share

The automotive application is witnessing a strong growth due to the capability of additive manufacturing to manufacture lighter and geometrically accurate parts. The problems of excess automotive inventory caused by uncertainties, such as COVID-19 pandemic, are likely to encourage manufacturers to adopt just-in-time manufacturing technologies, such as 3D printing, over the coming years.

Regional Insights

North America dominated the market and accounted for 34.1% share of global revenue in 2019. The State of California observed the highest demand for 3D printed metals in 2019 and accounted for a consumption share of nearly 22% in the U.S. The tech industry present in Los Angeles, Silicon Valley, and San Diego is projected to be a key driver for the market over the coming years

Asia Pacific is projected to expand at the highest CAGR of 31.6%, in terms of volume, from 2020 to 2027. Until 2016, Asia Pacific significantly lagged behind North America and Europe in terms of the adoption of additive manufacturing. However, supportive government policies and rising interest among the manufacturing companies of Asia Pacific since 2016 have helped in developing a sustainable market in the region.

Europe was the second largest regional market in 2019. Favorable government policies across Europe are expected to boost market growth over the coming years. In May 2016, Europe held a conference to adopt additive manufacturing across the region. Increased funding for the research & development and standardization of the technology is further anticipated to fuel the industry growth.

Key Companies & Market Share Insights

The global market is witnessing increased competition as more players are gaining entry into the market. The value chain of the additive manufacturing is currently characterized by a large number of 3D printer suppliers, while there is a shortage of raw material supply, such as powders.

As a result, powder manufacturers are expected to witness attractive growth opportunities as the demand is set to grow at a rapid rate at least until 2030. New product development through substantial investments in R&D is the major strategy adopted by industry players. For instance, 3D Systems introduced a new aluminum alloy material for the metal additive manufacturing of lightweight but strong parts.   Some of the prominent players in the global 3D printing metal market include:

  • Arcam AB

  • ExOne GmbH

  • Carpenter Technology Corporation

  • Renishaw PLC

  • Materialise NV

  • 3D Systems Corporation

  • Voxeljet AG

  • Sandvik AB

  • Hoganas AB

  • GKN PLC

3D Printing Metal Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 1.04 billion

Revenue forecast in 2027

USD 5.51 billion

Growth Rate

CAGR of 27.8% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Volume in tons, Revenue in USD million, CAGR from 2020 to 2027

Report coverage

Volume and revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Form, application, product, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; and MEA

Country scope

U.S.; U.K.; Germany; China; Japan; Brazil

Key companies profiled

Arcam AB; ExOne GmbH; Carpenter Technology Corporation; Renishaw PLC; Materialise NV; 3D Systems Corporation; Voxeljet AG; Sandvik AB; Hoganas AB; GKN PLC

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Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. 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 (Volume, Tons; Revenue, USD Million, 2016 - 2027)

    • Powder

    • Filament

  • Application Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

    • Aerospace & Defense

    • Automotive

    • Medical & Dental

    • Others

  • Product Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

    • Titanium

    • Nickel

    • Steel

    • Aluminum

    • Others

  • Regional Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

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