Pune, India – The global 3D printing metals market is projected to reach $776.8 million by 2020, at a CAGR of 31.5% from 2015 to 2020 with increasing application of 3D printing in aerospace and defense, mainly in the manufacturing of aircraft engines and components as well as the expiration of various technology patents, are the key factors expected to drive the growth.
The aerospace & defense application segment accounted for the largest share of the 3D printing metals market in 2014. It is also estimated to be the fastest-growing market during the forecast period of 2015 to 2020. 3D printing technology has the ability to bring revolution in the manufacturing industry and in medical and dental segment where it has been successively used in bone replacements, patient specific implants, and dental crowns.
North America was the major market for 3D printing metals in 2015. Product innovations, new research and development projects, and increasing demand from aerospace & defense industry have fueled the demand for metal 3D printing in North America. The 3D printing metals market in Asia-Pacific region is estimated to be the fastest-growing market between 2015 and 2020. Metal powder and printer manufacturers in Europe are expanding their business in Asia-Pacific region and there is a huge knowledge transfer taking place between developed and emerging countries through active engagements in different forums. Rising demand from end-user industries and new investments from engineering and manufacturing companies will drive growth in this region.
Further, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, challenges, and regulations. Leading producers of 3D metal printers and raw material manufacturers including 3D Systems Corp. (U.S.), Renishaw Plc. (U.K.), Arcam AB (Sweden), Carpenter Technology Corp. (U.S.), GKN Plc (U.K.), Sandvik AB (Sweden), and LPW Technology (U.K.), have been profiled in this report.
“3D Printing Metal Market by Form (Powder and Filament), by Type (Titanium, Nickel, Stainless Steel, Aluminum, Others), by Application (Aerospace & Defense, Automotive, Medical & Dental, Others), and by Region - Global Forecast to 2020,” the complete report on global 3D printing metals market spread across 145 pages, profiling 10 companies and supported with 82 tables and 46 figures is now available.
SOURCE ReportsnReports