Global 3D Printing Metal Market 2022 Trends, Research, Analysis and Review Forecast 2031
Posted by BestMarketResearchReports on November 24th, 2022
3D Printing Metal Market Segmented by Production Process - Powder Bed Fusion | Directed Energy Deposition | Material Jetting | Binder Jetting | Metal Extrusion | Photo Polymerization.
The global 3D printing metal market is anticipated to grow at an astounding CAGR of 21.4% over the following ten years, from a value of US$ 422.9 Mn in 2022 to US$ 2.95 Bn by 2032, according to Persistence Industry Research's most recent market estimations.
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3D printing is a process of creating three-dimensional objects from a digital model. The 3D printing technology has evolved rapidly in the past few years with the increase in demand for 3D printing metal market. 3D printers use various metals, plastics, alloys, and composites to produce physical 3D objects from a 3D model or design. The 3D printing technology is used in various industries such as automotive, aerospace, medical, dental, jewelry, and architecture. The 3D printing metal market is expected to grow at a high rate during the forecast period.
On the market for metal powder, 3D printing makes up about 5% of the market. High-precision and lightweight components are currently in high demand across a wide range of end-use industries. The automobile and aerospace sectors are looking for lightweight components to give customers fuel-efficient options. Such lightweight components cannot be produced using conventional manufacturing techniques with the level of precision required by these end-use sectors. As a result, there is a growing need for metals for 3D printing on a global scale.
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