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.
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.
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.
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.
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.
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.
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.
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
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 |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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
b. The global 3D printing metal market size was estimated at USD 772 million in 2019 and is expected to reach USD 1,039 million in 2020.
b. The global 3D printing metal market is expected to grow at a compound annual growth rate of 27.8% from 2020 to 2027 to reach USD 5.50 billion by 2027.
b. Titanium dominated the 3D printing metal market with a share of 65.2% in 2019. This is attributable to the use of titanium in the aerospace sector, owing to its high corrosion resistance and high tensile strength to density ratio.
b. Some key players operating in the 3D printing metal market include Arcam AB, ExOne GmbH, 3D Systems Corporation, Materialise NV, Renishaw PLC, Hoganas AB, Voxeljet AG, Carpenter Technology Corporation, Equispheres, GKN PLC, Sandvik AB, and EOS GmbH Electro Optical Systems.
b. Key factors that are driving the 3D printing metal market growth include cost-effectiveness, low waste, and greater design flexibility associated with additive manufacturing.
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