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The Global Metal Additive Manufacturing Market size is estimated to grow by USD 7.57 billion between 2022 and 2027, accelerating at a CAGR of 20.84%. The market witnesses growth driven by key factors reshaping the manufacturing landscape. With an increased preference for additive manufacturing methods, there's a notable shift towards more efficient and customizable production processes. Additionally, the rise in demand from developing countries underscores the global expansion. Moreover, the automotive industry's increasing adoption of metal additive manufacturing for prototyping and production drives market growth as manufacturers seek to enhance efficiency and reduce costs. This dynamic market landscape underscores the significant role of metal additive manufacturing in driving innovation and competitiveness across industries worldwide. This market analysis and report includes an in-depth analysis of drivers, market trends and metal additive manufacturing market analysis, and challenges.
The global metal additive manufacturing market caters to the aerospace sector and aerospace & defense industry, offering prototyping applications and customized products through advanced additive manufacturing technology, including metal prototypes created using techniques like injection molding and stereolithography, with services including installation and support, while also addressing intellectual property concerns through copyrights, licensing, and patenting.
In the market, the selective laser melting (SLM) segment stands out as a game-changer. Utilizing advanced metal additive manufacturing technologies, SLM revolutionizes various industries such as aerospace, healthcare, automotive, and consumer electronics. From producing intricate metal components for dental implants in the healthcare sector to crafting lightweight aerospace parts, SLM showcases its versatility. Its impact extends to academia and construction, shaping innovation in 3D printing technologies. As demand rises for metal components across diverse sectors, SLM's utilization of metal powder further solidifies its pivotal role in shaping the future of manufacturing.
The selective laser melting (SLM) segment is set to witness substantial growth in market share during the forecast period. SLM technology is widely utilized across diverse industries such as aerospace, healthcare (including the dental industry), automotive, and consumer electronics. Its distinct advantages over traditional manufacturing methods include the ability to produce intricate metal components efficiently and in shorter timeframes. This technology plays a crucial role in metal additive manufacturing, particularly in the production of metal components for various applications in sectors such as aerospace, healthcare, automotive, consumer electronics, and the construction industry.
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The selective laser melting (SLM) segment, valued at USD 1.39 billion in 2017 and experiencing sustained growth until 2021, facilitates the production of intricate parts without necessitating additional manufacturing steps. The advantages inherent in SLM, coupled with its expanding usage across diverse sectors such as aerospace, defense, automotive, and medical device manufacturing, are driving its demand. Consequently, the SLM segment is expected to propel market growth during the forecast period, particularly in prototyping applications and within industries reliant on additive manufacturing technology, including aerospace and defense.
North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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North America is the largest geographical segment of the market and will continue to remain the largest segment during the forecast period. The US, Canada, and Mexico are the major contributors to revenue in the market in North America. An increase in the demand from the aerospace and healthcare industries in these regions and a rise in the demand for dental and implants in the healthcare industry in the US are expected to drive the demand. Also, the increase in the demand for the production of aerospace components is expected to foster market growth during the forecast period.
The market is experiencing substantial growth fueled by the adoption of advanced 3D printing technologies, particularly in sectors like aerospace, healthcare, and automotive, where wearable devices and metal components are manufactured using technologies such as 3D metal printing. This technology enables the production of customized products and metal prototypes with precision and efficiency, leveraging metal powders, wires, and sheets in conjunction with lasers and electron beams. Additionally, the market encompasses services such as installation alongside considerations of copyrights, licensing, and patenting for innovative solutions while also incorporating traditional methods like injection molding and stereolithography for versatile prototyping applications across various industries. Our metal additive manufacturing market report presents the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic metal additive manufacturing market analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Increased preference for additive manufacturing is the market growth of metal additive manufacturing market analysis. The burgeoning demand for additive manufacturing, especially in the production of intricate engineering structures, is poised to fuel market expansion. Additive manufacturing, also known as 3D printing, offers unparalleled flexibility and cost-effectiveness in producing parts, particularly in industries such as aerospace, automotive, and medical. Directly fabricating components from computer-aided design (CAD) models using metal additive manufacturing technologies like laser and electron beam eliminates the need for tooling, resulting in reduced waste and assembly time.
This approach enables the rapid prototyping of metal components, minimizing material waste and allowing for the exploration of novel design features without additional expenses. The rising demand for customized products and metal prototypes, particularly in the aerospace and defense industry, will further drive the adoption of additive manufacturing technologies. Additionally, the availability of 3D printer software and installation services facilitates the integration of additive manufacturing into existing manufacturing processes. With advancements in additive manufacturing technology and the increasing emphasis on patents and copyrights, the market is poised for significant growth in the forecast period.
Advancements in new materials are a significant market trend. In 2022, the expanding applications of additive manufacturing drove the desire to push the boundaries of printable materials, resulting in the creation of new substances and improved qualities. 3D printed materials offer unique features that set them apart, such as the ability to produce high-performance polymers with superior quality outcomes. These polymers are highly versatile and resistant to heat and stress while also allowing for intricate geometries. It is also valuable for using metals like steel and titanium to produce industrial parts. Additionally, ceramics like alumina and zirconia, which are typically challenging to make conventionally, can be successfully 3D printed. This advancement in materials aligns with environmental concerns, as additive manufacturing has the potential to create eco-friendly products. As a result, the global market is expected to experience growth driven by advancements in new materials during the forecast period.
High production costs are a major market challenge. The production cost is negatively impacted by the high machine cost and expensive metal powder. Metal powders used in additive manufacturing are more costly compared to materials used in traditional manufacturing methods. The high cost of small coarse-grain metal powders like aluminum, steel, and iron is anticipated to be a barrier to market growth in the metal additive manufacturing market size report. For example, the price of stainless steel used is approximately USD 8 per sq. cm, which exceeds the cost of commercial-grade stainless steel used in conventional manufacturing.
Furthermore, the limited build envelopes of current technologies are expected to impede market growth. Large components produced often require additional processes such as mechanical joining and welding. The expensive raw materials associated with manufacturing are projected to hinder market growth in the metal additive manufacturing market size report throughout the forecast period.
Companies are implementing various strategies by analyzing factors such as strategic alliances, market growth and forecasting, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product or service launches to enhance their presence in the metal additive manufacturing market analysis.
Stratasys Ltd. - The company offers solutions that produce a workpiece that is identical to an object created by a program, so workpieces of any shape can be produced at a constant unit price regardless of design complexity. They offer the sales of its 3D printing systems, related services, consumables, and additive-manufacturing solutions.
The market growth and trends report also includes detailed analyses of the competitive landscape of the metal additive manufacturing market analysis and information about 15 market Companies, including:
Qualitative and quantitative metal additive manufacturing market 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 is experiencing significant growth in the metal additive manufacturing market size report, driven by advancements in 3D metal printing technology. Traditional manufacturing methods are being replaced with innovative techniques like powder bed fusion, binder jetting, and direct energy deposition, enabling the production of customized products with fine details and intricate designs. Wire and metal sheets are utilized in the creation of metal prototypes and complex products, reducing waste generation. This technology is crucial in the recreation of legacy parts, particularly in the automotive industry.
The global market is witnessing rapid growth in the metal additive manufacturing market size across various industries, including the aerospace industry, dental industry, academic industry, and construction sectors. With advancements in 3D printing technologies, metal components are being produced for Aerospace & defense industry applications, prototyping, and consumer electronics. The aerospace sector, in particular, is embracing metal additive manufacturing for its prototyping applications and the production of complex parts. Companies are also investing in 3D printer software and installation services to optimize their processes. Intellectual property aspects such as copyrights, licensing, and patenting play a crucial role in protecting innovations, which includes techniques like injection molding and stereolithography. This innovative technology is revolutionizing manufacturing across industries, offering new possibilities in product design and production.
Amidst the challenges posed by the novel coronavirus and economic slowdown, major players are focusing on end-user industries such as healthcare for surgical and dental implants, as well as the electronics industry for specialized circuit boards. The Asia-Pacific region and LAMEA play a vital role in the global trade of metal materials, including nickel alloys, contributing to the fast-paced production of metal machineries. The market is resilient and adaptive, catering to the demands of a changing population with disposable income.
The Global Metal Additive Manufacturing Market is experiencing significant growth, fueled by various industries such as aerospace, healthcare, automotive, and construction. Market trends and analysis reveal a surge in demand for metal additive manufacturing technologies, particularly in sectors requiring precision and efficiency. The aerospace industry, in particular, is embracing additive manufacturing technologies for component production, leading to advancements in aerospace sector capabilities. Similarly, the healthcare and dental industries are leveraging metal additive manufacturing for customized implants and prosthetics, driving market growth. Key factors driving the market include advancements in 3D metal printing, metal powder development, and electron beam technology. Additionally, the adoption of additive manufacturing technology is bolstered by the availability of 3D printer software and installation services, facilitating seamless integration into existing workflows. Overall, the Global Metal Additive Manufacturing Market presents lucrative opportunities for players across various industries, with continued growth expected in the foreseeable future.
The metal additive manufacturing market report forecasts the metal additive manufacturing market size report by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Metal Additive Manufacturing Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.84% |
Market growth 2023-2027 |
USD 7.57 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
20.6 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 43% |
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., 3DEO Inc., Additive Industries BV, DMG MORI Co. Ltd., EOS GmbH, General Electric Co., Hoganas AB, Materialise NV, Norsk Titanium AS, Optomec Inc., Renishaw Plc, Sciaky Inc., SLM Solutions Group AG, Stratasys Ltd., The ExOne Co., The Lincoln Electric Co., Titomic Ltd., TRUMPF SE Co. KG, and Xjet Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, metal additive manufacturing market size and growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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