According to a new report from Technavio, the metal additive manufacturing market will grow by USD 15.13 billion (2024-2028) driven by rising demand for additive manufacturing, AI-Powered Report Highlights Market Shift - Technavio
The market is estimated to grow at a CAGR of 29.28% during the forecast period. Increased preference for additive manufacturing is driving market growth, with a trend towards advancements in new materials. However, high production costs of metal additive manufacturing poses a challenge. Key market players include 3D Systems Corp., 3DEO Inc., Additive Industries BV, Desktop Metal Inc., EOS GmbH, General Electric Co., and Hoganas AB.
Metal Additive Manufacturing Market is experiencing significant growth in various industries such as Dental, Academic, Construction, Consumer Electronics, Wearable Devices, and Aerospace & Defense.
Trends include 3D printing technologies like Electron Beam Melting, Intelligent Layering, and Laser Metal Deposition. Nano dimension and Wire/Metal Sheet processes are also gaining traction.
Customized products and metal prototypes are key applications. Traditional manufacturing methods like CNC machining face competition. Aerospace, Defense, and Healthcare sectors lead adoption.
Intellectual property aspects include copyrights, licensing, and patenting. Powder Bed Fusion, Binder Jetting, and Direct Energy Deposition are common processes. Complex products and waste generation are challenges. Amidst the Novel Coronavirus and economic slowdown, industries are focusing on precision and efficiency.
Metal materials like Nickel Alloys and Metal Machineries are in demand. LAMEA region shows potential growth. Additive Manufacturing Technology requires installation services and software for design, scanning, printer, and inspection. Precision and efficiency drive the market. Metal Powder Development and Electron Beam Technology are key areas of focus.
In 2022, the additive manufacturing market witnessed a significant drive to expand the range of printable materials, continuously improving their properties to cater to an increasing number of applications. High-performance polymers, in particular, have gained popularity due to their superior qualities in additive manufacturing. These polymers offer unique features such as high resistance to heat and stress, as well as the ability to create complex geometries. Furthermore, metals like steel and titanium are commonly used in additive manufacturing for industrial applications, providing excellent strength and durability.