According to a new report published by Allied Market Research, titled, "3D Printing Metal Market by type, form, and end-use: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global 3D printing metal market was valued at $147.2 million in 2018 and is projected to reach $796.3 million by 2026, growing at a CAGR of 23.5% from 2019 to 2026.
The demand for 3D printing materials has been increasing significantly, driven by the development in 3D printers (particularly work area printers), and increased penetration in automotive, consumer products, aerospace and defense, healthcare, industrial sector, and others. 3D printing material market is still in its development stage. All the business players are contributing competing to discover new avenues for their product fragments by means of strategic efforts such as product launch, partnership, merger and acquisition. A portion of the main considerations that drive the interest in 3D printing material incorporates termination of key licenses for 3D printers, accessibility of less expensive 3D printers, ease in model improvement, and center and form fabricating, alongside diminished complexities in assembling items or parts.
The global 3D printing metal market is segmented based on type, form, end-user and region. On the basis of type, the market is segmented into steel, titanium, aluminum, nickel and others. The aluminum segment was the highest contributor to the market and is estimated to grow with a CAGR of 23.5% during the forecast period. The steel segment is estimated to grow with the highest CAGR of 24.2%.
Based on form, the global 3D printing metal market is bifurcated into powder and filament. The powder segment was the highest contributor to the market and is expected to grow with the CAGR of 23.3% during the forecast period. The filament segment is estimated to grow with the highest CAGR of 24.1%.
Based on end-user, the global 3D printing market is segmented into consumer products, Aerospace & Defense and defense, automotive, healthcare, and others. The automotive segment was the highest contributor to the market and is estimated to grow with the CAGR of 22.4% during the forecast period. The aerospace and defense segment is estimated grow with the highest CAGR of 25.8%.
Geographically, the market is bifurcated into North America, Asia-Pacific, Europe and LAMEA. North America was the highest revenue contributor and is expected to grow with a CAGR of 23.1%. Asia-Pacific is estimated to reach grow with a significant CAGR of 24.2%.
The key players involved in the global 3D printing metal market includes 3D Systems, Arcam AB, Autodesk, Inc., Stratasys Ltd, The ExOne Company, Hoganas AB, Optomec, Inc., Organovo Holdings, Inc., Ponoko Limited and Voxeljet AG. In order to stay competitive, these market players are adopting different strategies such as product launch, partnership, acquisition, and agreement. AP&C, a subsidiary of Arcam, expanded its business in Canada, to provide new powder manufacturing facility. This expansion marking the significant growth for AP&C.
Key Findings of the Study:
- In 2018, the North America market held a share of over 44.9% in the 3D Printing metal market share.
- The Aluminum segment is expected to hold a dominant position in the 3D Printing metal market size during the forecast period.
- The Aerospace and defense segment is projected to grow at a CAGR of 25.8% by 2026.
- The U.S. dominated the North America 3D Printing metal market in 2018 and Mexico is expected to grow with the highest CAGR during the forecast period.