3D Printing Metals Market

3D Printing Metals Market - An Overview

The global 3D printing metals market is expected to witness strong growth during the forecast period between 2021 and 2031.

3D printing refers to all technologies and processes concerning additive manufacturing. It was first invented in 1986. 3D models are produced using a process called material extrusion.

The COVID-19 outbreak adversely affected the 3D printing metals market. With governments imposing lockdowns and strict social distancing regulations, in a bid to contain the spread of the virus, operations at manufacturing facilities were severely affected, leading to a decrease in product demand and negatively impacting the overall 3D printing metals market.

However, with the subsequent decline in cases and availability of vaccines, production units steadily started to function close to full capacity, which helped increase the 3D printing metals demand and propelled the overall market, as well.

3D Printing Metals Market - Trends and Opportunities

Rising demand for 3D printing metal components in aerospace and defense industries are the key growth drivers for the overall 3D printing metals market.

In addition to this, increasing 3D printing metals demand for fabrication and critical engineering applications in aerospace and defense industries is expected to fuel the growth in the 3D printing metals market, in the coming years.

The powdered form of 3D printing metals is anticipated to witness high demand in future, owing to features such as high density and high strength. This, in turn, is expected to propel the overall 3D printing metals market, in the years ahead.

Other factors such as the increasing number of small-scale companies and rising adoption of 3D printed parts by original equipment manufacturers are also expected to bolster the 3D printing metals market, in the next few years.

The aerospace end-use industry is expected to make the largest contribution to the growth of the 3D printing metals market, in the coming years. The defense end-use industry is expected to make the second largest contribution to the overall 3D printing metals market.

3D Printing Metals Market - Competitive Landscape

The global 3D printing metals market comprises very few players, all of whom could adopt different product strategies in a bid to remain competitive in the overall 3D printing metals market.

The launch of novel products could be one strategy, which could help the market players remain competitive in the overall 3D printing metals market.

The lesser-known players in the 3D printing metals market will seek investments from governments and private investors, which would benefit them in the upcoming years and propel their overall growth.

R&D undertakings could prove to be a key growth strategy for the 3D printing metals market players, in the years ahead.

Some of the leading players in the 3D printing metals market include 3D Systems Corporation, Arcam AB, EOS GmbH Electro Optical Systems, Materialise NV, and Renishaw PLC.

3D Printing Metals Market - Regional Assessment

The global 3D printing metals market is divided into five regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

North America is expected to be the leader in the 3D printing metals market in the coming years owing to the presence of leading aircraft players such as Airbus, Boeing in countries such as the U.S, which use 3D printing metals for aircraft production.

Asia Pacific is anticipated to stand second behind North America in the global 3D printing metals market, owing to the growth in the aerospace and defense industries in countries such as India and China.

Europe is expected to stand in third place in the 3D printing metals market, in the years ahead.

Other regions such as Latin America and Middle East and Africa are expected to witness moderate growth in the 3D printing metals market, in the coming years.