3D Printing Metal Industry Overview
The global 3D printing metal market size was valued at USD 380.3 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 25.7% from 2021 to 2028.
Rising investments in 3D printing companies are projected to support market growth over the coming years. For instance, Mantle Inc. has raised USD 25 million in funding for the installation of commercial 3D printing systems in 2022. Mantle, Inc. is a 3D component manufacturer and has already produced over 1 million parts for applications, such as medical devices, deodorant packaging, and dishwasher components. As per the company, its TrueShape 3D printing technology has improved leas times and achieved cost reductions by around 65% during production.
Gather more insights about the market drivers, restraints, and growth of the Global 3D printing Metal market
3D printing technology also known as Additive Manufacturing (AM) is used to produce patient-suitable dental products, such as partial dentures, crowns, and bridges in the dental industry. Most of the time, the traditional method of manufacturing is not suitable for low-volume manufacturing as the equipment varies in size, which is now addressed by AM technology, and this is expected to drive the market growth in the U.S.
Manufacturers generally adopt AM to produce scalpel handles, clamps, forceps, hemostats, and prosthetic limbs. Several companies are adopting AM processes for healthcare applications. For instance, 3D Systems Healthcare is expected to collaborate with the medical industry to drive the growth of additive manufacturing in the medical & dental industry.
The shift from rapid prototyping to production using 3D printing is projected to offer new opportunities for market players. As per the recent survey of 3D hubs, over 50% of companies revealed the use of 3D printing for the manufacturing of functional end-use parts. Industries, such as automotive, transportation, and biotechnology, have witnessed increasing usage of 3D printing in the recent past.
Browse through Grand View Research's Advanced Interior Materials Industry Related Reports
3D Printing Market - The global 3D printing market size was valued at USD 13.84 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 20.8% from 2022 to 2030. Globally, 2.2 million units of 3D printers were shipped in 2021 and the shipments are expected to reach 21.5 million units by 2030.
Stainless Steel Market - The global stainless steel market size was valued at USD 104.23 billion in 2021 and is expected to exhibit a compound annual growth rate (CAGR) of 8.9% from 2022 to 2030.
Market Share Insights
June 2019 - HAL is adopting the Direct Metal Laser Sintering (DMLS) technique to produce components for its Hindustan Turbofan Engine-25 (HTFE-25).
March 2019 - Aerojet Rocketdyne Holdings, Inc. acquired 3D Materials Technology, Inc. (3DMT), an additive manufacturing solution provider. The acquisition of 3DMT is projected to benefit the company in expanding its products & services offerings in the aerospace & defense industry.
Key Companies profiled:
Some prominent players in the global 3D Printing Metal market include
- Arcam AB
- ExOne GmbH
- Carpenter Technology Corporation
- Renishaw PLC
- Materialise NV
- 3D Systems Corporation
- Voxeljet AG
- Sandvik AB
- Hoganas AB
- GKN PLC
Order a free sample PDF of the 3D Printing Metal Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment