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The 3D Printing Metal Materials Market size is forecast to increase by USD 1.77 billion, at a CAGR of 26.59% between 2023 and 2028. The market's growth relies on several factors, including the increasing demand for 3D printing in the aerospace industry. Additionally, there is a growing adoption of additive manufacturing in the 3D printing sector, driving market expansion. Governmental emphasis on advancing 3D printing technologies further contributes to this growth trend. These factors highlight a significant shift towards additive manufacturing methods, indicating a strong market trajectory for 3D printing technologies in various industries.
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The titanium segment is estimated to witness significant growth during the forecast period. Titanium segment is a transition metal that is mined from rutile and ilmenite ores. In addition, it has a high melting point and offers a significant strength-to-weight ratio, corrosion resistance, and high thermal conductivity. Furthermore, it is one of the most used materials in 3D printing applications due to its advantages.
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The titanium segment was the largest segment and was valued at USD 136.93 million in 2018. Moreover, titanium is 3D printed by sintering titanium powder with a laser. In addition, 3D-printed titanium products are considered equally efficient as machined objects. Furthermore, these products are slightly rough with a matte gray finish or faintly reflective satin finish. In addition, they are widely used in aerospace, dental and medical, spare parts, jewelry, watches, and other industries. Hence, such factors are fuelling the growth of this segment which in turn will drive the market during the forecast period.
Based on the end-user, the market has been segmented into medical and healthcare, automotive, aerospace and defense, tool and mold making, sports equipment, and others. The medical and healthcare segment will account for the largest share of this segment. In addition, metal materials are used in this type of printing for medical and healthcare applications. Moreover, it has various applications in the healthcare industry. Artificial body parts, surgical equipment, medicines, and implants can be 3D printed. In addition, this printing plays a significant role in surgery planning and execution, making the implementation and decision-making process more accurate and effective. Furthermore, it is used for regenerative medical treatment or for medical implants, such as hip replacement, knee replacement, shoulder replacement, and metal plate implants for broken bones. Hence, such factors are fuelling the growth of this segment which in turn will drive the market during the forecast period.
North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.
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North America influenced the global market in terms of the manufacturing of 3D printing metal materials. In addition, the government made investments to increase the prototype and manufacture of the development and adoption of 3D printers in the region. For example, in July 2021, USD 8.2 million was invested by Waterloo's leadership role in multi-scale addictive manufacturing (MSAM) to establish a collaborative consortium between post-secondary institutions and industry partners. Moreover, this investment will help the university to focus on several aspects of additive manufacturing in various sectors, including aerospace, healthcare, and automotive. Therefore, the increased use of such printers will fuel the demand for these printing metal materials. Furthermore, the increasing demand for 3D printing from the aerospace and defense, consumer electronics, and medical and healthcare industries is contributing to the growth of the market in the region. Hence, such factors are driving the market in North America during the forecast period.
The market is evolving with a focus on mass customization, where the choice of printer size and the utilization of metal powders drive innovation. Notably, the titanium segment is gaining prominence, especially in orthopedic and dental implants. Rapid prototyping and additive manufacturing, particularly Metal 3D printing technology, utilizing methods like Selective Laser Melting (SLM) and Electron Beam Melting (EBM), are shaping the industry. Additionally, advancements in design software contribute to enhanced precision. Challenges include material cost and ensuring consistent quality, while the trend towards customized solutions continues to reshape the landscape.
Rising demand for 3D printing in the aerospace sector is notably driving the market growth. Metal 3D printing technology, specifically utilizing methods like Selective Laser Melting (SLM) and Electron Beam Melting (EBM), is increasingly prevalent in aircraft engines due to its high strength and wear resistance. The titanium segment, particularly in orthopedic and dental implants, is gaining traction.
Moreover, these materials, known for their high-temperature resistance and low weight, are preferred over polymer- and ceramic-based alternatives, enhancing fuel efficiency and reducing emissions. Additive manufacturing, with its layer-by-layer approach, minimizes waste, providing a cost-effective solution for manufacturing aerospace components such as panels, seat trays, frameworks, and overhead storage compartments. The trend emphasizes mass customization, considering printer size, metal powders, and design software advancements. Hence, such factors are driving the market during the forecast period.
Growing demand for high-performance and temperature-resistant materials is an emerging trend in the market. The demand for high-performance materials is growing among various end-user industries. In addition, these materials can be used in various industrial applications to gain benefits from their energy-saving and wear-resistance properties.
Moreover, they are preferred in high-temperature applications as thermally conductive materials. In addition, these materials are widely used in the aerospace defense, and automotive industries. In addition, among the various types of high-performance materials, 3D printing metal materials are preferred widely, owing to their properties such as high-temperature resistance and thermal shock resistance, as well as their non-conductive nature. Hence, such factors are driving the market growth during the forecast period.
The requirement for training and a skilled workforce for handling 3D printing machinery is a major challenge hindering market growth. The manufacturing, installation, and operation of 3D printers need in-house expertise and skilled personnel to ensure proper installation, continuous operation, and timely maintenance. In addition, the handling of large or complex 3D printer installations requires experts from the manufacturing and information technology domains. Therefore, the lack of availability of professional expertise in these domains is expected to pose a challenge to the growth of the global market.
Moreover, additive manufacturing is an innovative technology for manufacturing objects using 3D printers. In addition, it requires skilled personnel such as designers, operators, and manufacturers at different levels of operations. Furthermore, adequate knowledge about 3D printers and their functioning, technical expertise, material handling, pre-processing, post-processing, and other skills are prerequisites for workers in additive manufacturing to ensure seamless operations. Hence, such factors are hindering the market growth during the forecast period.
Companies are implementing various market trends and analysis strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market and result in market growth analysis.
3D Systems Corp: The company offers 3D printing metal materials such as LaserForm Ti Gr5, LaserForm Ti Gr23 and LaserForm Ti Gr1. Ranging from aluminum, maraging steel, steel, and various grades of titanium to nickel and cobalt chrome.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
BASF SE, Carpenter Technology Corp., Desktop Metal Inc., EOS GmbH, General Electric Co., Graphite Additive Manufacturing Ltd., Hoganas AB, HP Inc., Markforged Holding Corp., Optomec Inc., Proto Labs Inc., Sandvik AB, Equispheres Inc., MATERIALISE NV, Renishaw Plc, SLM Solutions Group AG, Stratasys Ltd., THINK3D, and voxeljet AG
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, market research and growth also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecast growth strategies.
Global Market Customer Landscape
The market is at the forefront of revolutionizing various industries, notably aerospace, automotive, and healthcare. As a transformative force in the manufacturing and supply chain management landscape, it addresses challenges posed by traditional manufacturing processes. The powder segment, especially in powder bed fusion methods like selective laser sintering (SLS) and direct metal laser sintering (DMLS), plays a pivotal role. Industries such as aerospace and defense leverage 3D printing for critical engine components, fuel nozzles, and aircraft weight reduction strategies, leading to lower fuel consumption. In healthcare, the technology finds applications in artificial knee and hip replacements. Moreover, 3D printing metals offer versatile solutions, from creating specific brackets for satellites to intricate mold designs for critical engineering and fabrication applications. The market encompasses various advanced manufacturing practices, including electron-beam freeform fabrication (EBF) and inkjet printing. The hardware segment, including scanners and software, along with services like prototyping and the production of functional parts, contribute to the market's dynamic growth. From desktop to industrial applications, 3D printing in metals is a driving force in shaping the future of manufacturing industries worldwide.
Moreover, the market is a cornerstone in the evolution of manufacturing industries, playing a vital role in aerospace, automotive, and healthcare sectors. It eliminates the traditional tooling requirement, offering enhanced flexibility as metal shrinks are transformed directly into functional parts. Utilizing powder form in various methods, including laser metal deposition (LMD) and laminated object manufacturing (LOM), the market caters to diverse industries such as aerospace and defense, automotive, and medical and dental. With a focus on fuel consumption reduction, 3D printing metals have become integral in advancing technological solutions in the healthcare, automotive, and aerospace defense sectors. The market incorporates cutting-edge technologies like scanners and software, making the services segment, including prototyping and production for both desktop and industrial applications, a driving force in the 3D printing metal industry's rapid growth.
Market Scope |
|
Report Coverage |
Details |
Page number |
190 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 26.59% |
Market Growth 2024-2028 |
USD 1.77 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
24.71 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 40% |
Key countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3D Systems Corp., BASF SE, Carpenter Technology Corp., Desktop Metal Inc., EOS GmbH, General Electric Co., Graphite Additive Manufacturing Ltd., Hoganas AB, HP Inc., Markforged Holding Corp., Optomec Inc., Proto Labs Inc., Sandvik AB, Equispheres Inc., MATERIALISE NV, Renishaw Plc, SLM Solutions Group AG, Stratasys Ltd., THINK3D, and voxeljet AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
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