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The metal material based 3D printing market size is estimated to grow at a CAGR of 26.68% between 2023 and 2028. The market size is forecast to increase by USD 2,115.86 million.
This metal material based 3D printing market report extensively covers market segmentation by type, end-user, and geography. (iron-based, titanium, nickel, and aluminum), end-user (healthcare, automotive, aerospace and defense, tool and mold making, and robotics and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
The growth of the market depends on several factors such as the rise in the adoption of customized and personalized metal products, growing demand for lightweight and complex aerospace components and reduction in waste generation during production.
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Metal material-based 3D printing, also known as metal additive manufacturing, is a process that uses metals to create 3D objects layer by layer. It involves melting or sintering metal powders or using metal filaments to build up the desired shape. This additive manufacturing technique allows the production of complex metal parts with intricate geometries and internal structures that would be difficult or impossible to achieve using traditional manufacturing methods. Moreover, metal material-based 3D printing is used in various industries such as aerospace, automotive, healthcare, and engineering, offering advantages such as design freedom, reduced waste, and faster prototyping.
The iron-based segment is estimated to witness significant growth during the forecast period. The iron-based segment holds a significant share in the global metal material based 3D printing market. Iron is a versatile metal with a wide range of applications, and its use in 3D printing has gained considerable attention in various industries.
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The iron-based segment was the largest segment and was valued at USD 184.43 million in 2018. The iron-based segment also benefits from advancements in 3D printing technology. The development of new printing techniques, such as selective laser melting (SLM) or electron beam melting (EBM), has expanded the possibilities for iron-based 3D printing. These advancements enable higher printing speeds, improved resolution, and enhanced control over the properties of printed parts. As a result, industries can achieve higher productivity and quality in their manufacturing processes. Thus, the above-mentioned advantages are expected to increase the demand for iron-based 3D printing, which will propel the growth of the iron-based segment in the global metal material based 3D printing 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 elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In 2023, North America positively influenced the global metal material based 3D printing market in terms of the production of metal material based 3D printing. The government of the US made investments to increase the prototype metal materials and adoption of 3D printers in the region. For instance, in July 2021, USD8.2 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. This investment will help the university to focus on several aspects of additive manufacturing in various sectors, including aerospace, healthcare, and automotive. Hence, the increased use of 3D printers will fuel the demand for metal material based 3D printing during the forecast period.
The rise in the adoption of customized and personalized metal products is notably driving the market growth. The rise in adoption of customized and personalized metal products is also driven by the growing consumer demand for products that reflect their individuality. Consumers are increasingly seeking unique and customized items, and metal additive manufacturing provides a solution to meet these demands. From customized metal accessories to personalized metal artwork, the possibilities are endless with metal material based 3D printing. Additionally, industries such as aerospace and automotive are leveraging customized metal components to enhance performance and efficiency.
Moreover, metal material-based 3D printing offers the flexibility to easily iterate and modify designs. This enables manufacturers to make design changes on the fly and quickly respond to customer feedback, leading to further customization. The ability to iterate designs rapidly helps in fine-tuning products and delivering personalized solutions in a shorter timeframe. Thus, such factors are expected to increase the demand for metal material-based 3D printing, which will propel the growth of the market during the forecast period.
Advancements in metal material-based 3D printing technologies are an emerging trend shaping market growth. Advancements in metal material-based 3D printing technologies have revolutionized the global metal material based 3D printing market. These advancements have significantly expanded the capabilities and applications of metal additive manufacturing, driving its rapid growth and adoption. Advancements in metal material-based 3D printing technologies have led to improved part performance and functionality. The ability to create complex geometries and optimize the internal structure of metal components has resulted in enhanced mechanical properties, such as increased strength, durability, and lightweight characteristics.
Moreover, the advancements in metal material-based 3D printing have enabled the production of multi-material and graded structures. By selectively depositing different alloys or varying material compositions in a single part, manufacturers can achieve desired material properties in specific areas, resulting in optimized performance and functionality. Thus, such factors are expected to increase the demand for metal material-based 3D printing, which will propel the growth of the market during the forecast period.
High initial investment costs are a significant challenge hindering market growth. The global metal material based 3D printing market has experienced a negative impact due to high initial investment costs. These costs have posed significant barriers for businesses interested in adopting metal material-based 3D printing technology. The high cost of purchasing these printers limits the accessibility of the technology for small and medium-sized enterprises (SMEs). Maintenance and operating costs are also significant considerations. Regular maintenance of metal 3D printers is essential to ensure optimal performance and longevity. These maintenance costs, including the replacement of parts or repair services, can be substantial.
However, the ongoing operating costs, such as energy consumption and software updates, should also be taken into account when calculating the overall investment required for metal material-based 3D printing. Thus, such factors are expected to decline the adoption of metal material-based 3D printing, which may negatively affect the growth of the market in focus during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3D Systems Corp. - The company offers metal material based 3D printing solution namely Direct metal printing with titanium alloys, stainless steel alloys, maraging steel alloys.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
3D Systems Corp., BASF SE, Carpenter Technology Corp., Desktop Metal Inc., EOS GmbH, Equispheres Inc., General Electric Co., Markforged Holding Corp., MATERIALISE NV, Ponoko Inc., Proto Labs Inc., Renishaw Plc, Sandvik AB, SHAPEWAYS HOLDINGS INC., Sisma SpA, SLM Solutions Group AG, Stratasys Ltd., Titomic Ltd., TRUMPF SE Co. KG, and Velo3D Inc.
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 research 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, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Metal Material based 3D Printing Market Customer Landscape
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Metal Material Based 3D Printing Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2023 |
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Historic period |
2017-2021 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 26.68% |
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Market growth 2024-2028 |
USD 2115.86 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
24.72 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 40% |
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Key countries |
US, China, Germany, UK, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3D Systems Corp., BASF SE, Carpenter Technology Corp., Desktop Metal Inc., EOS GmbH, Equispheres Inc., General Electric Co., Markforged Holding Corp., MATERIALISE NV, Ponoko Inc., Proto Labs Inc., Renishaw Plc, Sandvik AB, SHAPEWAYS HOLDINGS INC., Sisma SpA, SLM Solutions Group AG, Stratasys Ltd., Titomic Ltd., TRUMPF SE Co. KG, and Velo3D Inc. |
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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, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
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 End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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