Additive Manufacturing with Metal Powders Market Value to Reach US$ 1.98 Bn by 2026
17 January 2020
Acumen Research and Consulting, Recently Published Report on titled “Additive Manufacturing with Metal Powders Market Size, Share and Forecast, 2019 - 2026”
LOS ANGELES, Jan. 17, 2020 (GLOBE NEWSWIRE) -- The global additive manufacturing with metal powders market is expected to grow at a CAGR of around 19.6% during the forecast period 2019 to 2026 and reach the market value of around US$ 1.98 Bn by 2026.
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North America dominated the global additive manufacturing with metal powders market in the year 2018. North America is expected to witness healthy growth in market due to presence of additive manufacturing with metal powders companies such as 3D Systems Corporation, Matsuura Machinery Corporation, and Hoeganaes Corporation among others. The rapid growth in the automotive and construction industry in this region is the major driving factor for global market. Moreover, investments in support of the national nanotechnology initiative and growing pharmaceutical & healthcare industry further dominate the global additive manufacturing with metal powders market during the forecast period. This also expected to open investment opportunities in the global market for the manufacturers in the coming years. The Europe region is expected to exhibit a second-largest share in the additive manufacturing with metal powders market. The increasing number of manufactures in the region rise the demand for metal powders is expected to contribute to market growth. Additionally, growing demand for additive manufacturing with metal powders in various end user applications, increase demand for production and consumption of automotive components in this region further expected to further propel the growth of the market. Germany has large research and development hub which increases the innovation and development in additive manufacturing with metal powders and growing production of medical devices, and growing manufacturing base of automotive companies propels the market growth.
Asia-Pacific is expected to register highest CAGR during the forecast period. The growing automotive industry, high research and development from additive manufacturing with metal powders manufacturers, several government initiatives to enhance the production of automotive components, and growth in production of pharmaceutical products and medical devices further expected to boosts the demand for additive manufacturing with metal powders in the region during the forecast period. Moreover, manufacturers are investing in the developing countries to meet the growing demand for additive manufacturing with metal powders. Growing manufacturing facilities due to low manufacturing costs and supportive government incentives are also propelling the growth of additive manufacturing with metal powders in the Asia-Pacific region.
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The powder bed segment expected to grow at the fastest rate of 19.4% CAGR during the forecast period. Based on manufacturing technique, the global additive manufacturing with metal powders market has been segmented into powder bed and blown powder. The growing innovation and development in aerospace industry, compatibility with several 3D printers and rising demand from medical applications such as bio fabrication, implants & prosthesis, and surgical instruments. These factors are further expected to raise segment over the forecast period.
Growing automotive and aerospace industries, growing demand for additive materials, particularly in the medical device application, and mass customization of additive materials and reduced production time and specifically tailored products are the main drivers for the market growth of the global additive manufacturing with metal powders market over the forecast period. Moreover, increase in research and development in new medical applications across the globe is expected to enhance the market size. This has also expected to open investment opportunities in the global market for the manufacturers in the coming years. The rise in adoption of 3D printing technology in bioprinting organs and increase in government spending in 3D printing offers huge growth opportunities for additive manufacturing with metal powders market in the coming years.
However, volatile prices of raw materials, stringent government regulations regarding use of materials, and complexity of design are expected to hamper the growth of the global additive manufacturing with metal powders market during the forecast period. Moreover, technological limitations such as smaller build envelopes are the prime challenges in the global additive manufacturing with metal powders market throughout the forecast period.
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Some of the leading competitors are Praxair Surface Technologies, Cookson Precious Metals Ltd, Carpenter Technologies Corp., Farsoon Technologies, Plunkett Associates, 3D Systems Corporation, Matsuura Machinery Corporation, Hoeganaes Corporation, Sandvik Group, and Shaanxi Hengtong Intelligent Machine Co., Lt.
Some of the key observations regarding additive manufacturing with metal powders industry includes:
- In March 2019, Indium Corporation launched new solid/liquid thermal interface material. This new product offer ultra reliable thermal conductivity for heat dissipation. The new product has wetting ability to both metallic and non-metallic surfaces.
- In April 2019, 3D Systems, Inc. Partnered with Georg Fischer AG for innovation and expertise in additive manufacturing with GF Machining Solutions. It is working to efficiently produce complex metal parts within tight tolerances, and reduce total cost of operation.
- In April 2019, 3D Systems expands its new advanced additive manufacturing center in Pinerolo, Italy.
- In November 2019, Sandvik Group and Renishaw signed partnership agreement to qualify and optimise new metal powders for additive manufacturing production applications. The partnership focuses on development of metal powders, including stainless and maraging steels.
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