Global Metal Powders for Additive Manufacturing Market
Posted by manisha on April 17th, 2021
Global Metal Powders for Additive Manufacturing Market was valued US$ XX Bn in 2019 and is expected to grow US$ 9.14 Bn by 2027, at a CAGR of XX% during the forecast period.
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The additive manufacturing with metal powder is used for creating objects and substances by adding materials layer by layer in a variety of ways, depending on the manufacturing technique used. Additive manufacturing with metal powder is available in several types with alloy, stainless steel, precious metal, and others. Additive manufacturing with metal powder is mostly used in aerospace, automotive, medical, oil & gas applications.
The growing applications of additive manufacturing with metal powders in several medical applications reduced production time and mass customization of additive manufacturing with metal powders, and multi-functionality of additive manufacturing with metal powders. Also, the demand for additive manufacturing with metal powders in automotive and aerospace applications, and an increase in R&D in metal powders, are the factors expected to boost the market growth. Moreover, growing medical and pharmaceutical industries, increasing government investments in additive manufacturing with metal powders, and adoption of different technology in additive manufacturing with metal powders, are expected to create opportunities for the manufacturers in the global market over the forecast period.
Leading the development of manufacturing metals parts with metal powders has been the aerospace industry, which expects to consume about 0 million in 3D metal powders by 2019. Aerospace has been the pioneer for metal additive manufacturing in high-value applications. The supply chain for metal powders for additive manufacturing is potentially robust, as production processes for metal powders have been utilized for decades, with hundreds of thousands of tons of powder being supplied to manufacturers across the globe each year. The future is very promising for metal powders for use in 3D printing, but, as wide investment in R&D for self-monitoring and reporting in metal 3D printers is taking place. This will lead to quicker qualification of metal parts printed via additive manufacturing in high-value applications.
On the other hand, volatile prices of raw materials, stringent government regulations about the use of materials are expected to hinder the growth of the global additive manufacturing with metal powders market in the upcoming years.
By material type, the alloy segment accounts for the largest market share of the global market and is expected to grow at a CAGR of around XX% during the forecast period. Because of the rising demand for alloy due to cheaper, easily moldable, and formable and used in numerous applications, such as automotive components, hearing aids, prototyping, and surgical guides. The manufacturers 3D Systems Corporation, Matsuura Machinery Corporation, and Hoeganaes Corporation are largely investing in the development of alloy, which expected the lead the market in the coming years.
Region-wise, North America held the largest market share of the metal powders for the additive manufacturing market in 2018 and expected to maintain its dominance over the forecast period (2020-2027). The rapid consumption of additive manufacturing with metal powders in several end-user industries, growing development metal industry, and growing miniaturization of electronic devices in several industries are the key driving factor for the region in the global market. Also, the well-established R&D centers and the rise in several manufacturers and a strong economy to support research funding are expected to improve the market growth in the global metal powders for the additive manufacturing market in the future. The growing demand for customized metal manufacturing in countries, such as the US, Canada, and Mexico, are expected to improve the market growth in the global metal powders for the additive manufacturing market during the forecast period.
Europe is expected to hold the second-largest market in the global market during the forecast period. The growing medical industry, development of new medical and aerospace devices, growing automobile industry, and increase in production base, rising numerous additive manufacturers are expected to augment the market growth in the global metal powders for the additive manufacturing market during the forecast period.
Asia-Pacific is expected to hold the highest CAGR in the global market during the forecast period. The growing medical device industry, increase in innovation and development in additive manufacturing, rapid industrialization, growing foreign direct investment, the rising production base of medical device and automotive component industry, is expected to boost the market growth in the global metal powders for the additive manufacturing market in the future.
The objective of the report is to present a comprehensive analysis of the Global Metal Powders for Additive Manufacturing Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
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Global Metal Powders for Additive Manufacturing Market, By Manufacturing Technique
• Powder Bed
• 3D Printing
• North America
• GKN Plc.
This Report Is Submitted By : Maximize Market Research Company
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About the Authormanisha
Joined: June 26th, 2020
Articles Posted: 99
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