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The Metal Powder Bed Fusion Market is estimated to grow at a CAGR of 8.92% between 2022 and 2027, and the size of the market is forecasted to increase by USD 682.97 million. The growth of the market depends on several factors, such as the increased preference for additive manufacturing, the rise in demand for metal PBF technology from developing countries, and the increase in demand for metal PBF additive manufacturing from the automotive industry.
This report extensively covers market segmentation by application (medical and healthcare, aerospace and defense, automotive, oil and gas, and automation and others), type (direct metal laser sintering (DMLS), selective laser sintering (SLS), electron beam melting (EBM), and selective laser melting (SLM)), 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 2017 to 2021.
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The 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 Powder Bed Fusion Market Customer Landscape
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increased preference for additive manufacturing is driving market growth. The low production cost of parts manufactured in additive manufacturing is expected to drive the demand for metal PBF. The need for fewer parts, less material wastage, and reduced assembly time for manufacturing complex components are some of the advantages of additive manufacturing. The production of components or parts is done directly from the CAD model. As a result, any design can be made and produced at a low cost with minimum requirements. Metal PBF is the preferred additive manufacturing technology for the prototyping and development of parts that require high-precision applications in end-user industries.
In the aerospace industry, metal PBF is used to produce lightweight structural parts using high-strength materials, which reduces overall weight and fuel consumption. Similarly, in the automotive industry, metal PBF is used to produce parts such as turbochargers, gears, and customized components, which improve performance and reduce vehicle weight, leading to better fuel efficiency. Thus, the increasing demand for additive manufacturing is primarily driven by the need for advanced materials, complex component designs, and advances in metallurgical engineering techniques. Therefore, the increasing preference for additive manufacturing is expected to drive market growth during the forecast period.
The integration of automation in additive manufacturing is a key trend in the market. The demand for automation in metal PBF additive manufacturing is projected to grow during the forecast period, with the increase in the volume of components produced using metal PBF additive manufacturing. By the end of 2023, fully automated additive manufacturing systems would be able to handle order management, printing, material management, and post-processing.
Automation in metal PBF additive manufacturing will aid businesses in achieving cost efficiency, lowering risks to their employees' health and safety, and increasing productivity. Over the past few years, software companies operating in the additive manufacturing sector have improved their tools to make the design process more effective. Automation in metal PBF additive manufacturing can provide automated solutions that speed up the design process. Thus, increasing automation in metal PBF additive manufacturing will support the growth of the global metal powder bed fusion market during the forecast period.
The high production costs of metal PBF additive manufacturing are challenging market growth. The cost of machinery and metal powder increases the production cost of metal PBF technology. Small coarse-grain metal powders such as aluminum, steel, and iron are expensive. For instance, the stainless steel used in metal additive manufacturing costs around USD 8 per sq. cm, which is more than that of commercial-grade stainless steel used in the conventional manufacturing process. The cost of powders used in metal PBF varies based on the type of metal used, the purity level, and particle size.
The high cost of machinery and metal powders is a challenge for industries such as aerospace and defense due to budget constraints. As a result, such industries may turn to alternative manufacturing techniques. The limited build capabilities of current technologies are also expected to hinder market growth. The large components produced through metal PBF additive manufacturing need to undergo additional processes such as mechanical joining and welding. Thus, the high production cost of metal PBF technology will restrict the growth of the market during the forecast period.
Vendors 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.
Additive Industries BV - The company offers metal powder bed fusion solutions such as the MetalFAB1 system, an industrial 3D printer designed for high-volume production in industries such as aerospace, automotive, and medical, ensuring precise and repeatable metal part manufacturing. It also offers MetalFABG2 3D printing system, which delivers continuous production through automation and drives down costs in aerospace, high-tech, energy, automotive, and other industries.
Hoganas AB - The company offers metal powder bed fusion solutions for a wide range of metal powders, including stainless steel, titanium, and tool steel, facilitating the production of lightweight, durable, and customized metal parts for diverse industries. The company's product portfolio contains more than 1,500 products, including metal powders for sintered components, soft magnetic applications, surface coating, brazing, additive manufacturing, and water cleaning.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The medical and healthcare segment will account for a significant share of market growth during the forecast period. The rise in demand for metal PBF technology for manufacturing components in healthcare is expected to drive market growth. Highly complex and tailored components, such as those in medical devices and implants required in the healthcare industry, are ideally suited for metal PBF additive manufacturing.
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The medical and healthcare segment was valued at USD 251.25 million in 2017 and continued to grow until 2021. Metal PBF additive manufacturing is used for fabricating standard-sized orthopedic implants, patient-matched implants for specific bone and joint anatomy, and custom 3D-printed implants for individuals with bone or joint deformities. Metal PBF technology is also used in the fabrication of prosthetic limbs. It reduces manufacturing costs significantly. In addition, metal PBF technology is used in dental implants, as it allows dental professionals to produce dental implants accurately and rapidly. Therefore, many dental professionals are switching to metal PBF technologies. There are several other applications of metal PBF additive manufacturing in healthcare. Thus, the increasing adoption of 3D printing in healthcare applications will drive the growth of the global powder bed metal fusion market during the forecast period.
The DMLS segment will account for a significant share of market growth during the forecast period. DMLS is an additive manufacturing technology for the 3D printing of metals. In this process, the metal powder undergoes complete melting by scanning with a high-powered laser beam. DMLS additive manufacturing is widely used in major industries, such as automotive and aerospace, for manufacturing high-performance parts. Other applications include medical prosthetics, tooling, and functional prototypes. The popularity of DMLS is increasing owing to its advantages over traditional manufacturing methods. Such factors will boost the growth of the DMLS segment of the global metal powder bed fusion market during the forecast period.
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North America is estimated to contribute 40% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
The US, Canada, and Mexico are the major contributors to the growth of the market in North America. The demand for metal PBF additive manufacturing in the region is expected to increase owing to the rise in demand from the aerospace and healthcare industries. North America is a mature economy, with high investments in various industries such as automotive, chemical, tools, and molding. North America accounts for about one-fourth of global aerospace component production, with the presence of leading commercial aircraft manufacturing companies such as Boeing and Bombardier. Strong economic growth and the increase in the number of air passengers have created the need for additional aircraft fleets in this region. In the healthcare industry, favorable government support, the presence of local suppliers, and the increasing number of vendors that develop 3D-printed healthcare products are expected to drive market growth in North America during the forecast period.
In 2020 and the first half of 2021, the demand for metal PBF technology declined due to the outbreak of the COVID-19 pandemic. However, the implementation of large-scale COVID-19 vaccination drives globally led to the containment of the disease in the latter half of 2021, which helped end-user industries resume business activities. This, in turn, increased the demand for metal PBF additive manufacturing. Global supply chains were restored to their full strength in early 2022, which strengthened the growth of the market. Global economic growth, the announcement of financial packages by various governments, and the increasing adoption of Industry 4.0 in the manufacturing sector will drive the growth of the global metal bed fusion market during the forecast period.
The metal powder bed fusion market report forecasts market growth by revenue at global, regional, & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Metal Powder Bed Fusion Market Scope |
|
Report Coverage |
Details |
Page number |
188 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.92% |
Market growth 2023-2027 |
USD 682.97 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.5 |
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 Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
3D Systems Corp., Additive Industries BV, Desktop Metal Inc., EOS GmbH, Eplus 3D, FIVES SAS, General Electric Co., Heimerle Meule GmbH, Hoganas AB, Markforged Holding Corp., MATERIALISE NV, Nikon Corp., Renishaw Plc, Sandvik AB, Sisma SpA, Stratasys Ltd., TRUMPF SE Co. KG, Velo3D Inc., voxeljet AG, and Xact Metal Inc. |
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 the forecast period |
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. |
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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 Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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