3D Printing Metal Market Global Snapshot Analysis and Increasing Growth Demand by Forecast To 2026
3D Printing Metal Market Demand
The growth of the global 3D printing metal market is primarily propelled by the increased adoption of bio-based materials and advancements in technology.
WILMINGTON, DELAWARE, UNITED STATES, May 6, 2024 /EINPresswire.com/ -- Allied Market Research recently published a comprehensive report on the 3D Printing Metal Market, titled "3D Printing Metal Market by Type, Form, and End-Use: Global Opportunity Analysis and Industry Forecast, 2019–2026." The report forecasts significant growth in the industry, with the global market expected to reach $796.3 million by 2026, experiencing a robust CAGR of 23.5% from 2019 to 2026, compared to $147.2 million generated in 2018.
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Key Growth Drivers:
The growth of the global 3D printing metal market is primarily propelled by the increased adoption of bio-based materials and advancements in technology. Despite this positive trajectory, the market faces challenges such as high costs associated with raw materials and techniques. However, opportunities abound, particularly with the rapid expansion of industries like healthcare, automotive, and aerospace & defense.
Segment Analysis:
Aluminum Dominance: The aluminum segment emerged as the market leader in 2019, contributing around half of the total market share, a position it's expected to maintain throughout the forecast period. This dominance is attributed to the surge in its usage within the automotive industry, driven by its desirable characteristics such as strength, lightweight properties, and precision. Nevertheless, the steel segment is projected to exhibit significant growth, with a CAGR of 24.2% from 2019 to 2026.
Form Preference: Powder-based 3D printing metal dominated the market in 2019, accounting for nearly three-fourths of the total market share, a trend anticipated to persist until 2026. The powder form is extensively utilized in various applications, including medical, aerospace, and rapid tooling. Conversely, the filament segment is expected to witness the highest growth rate, with a CAGR of 24.1% during the forecast period, driven by increased usage in diverse materials such as metal, laywood, and paper.
Regional Insights:
North American Leadership: North America held the largest market share in 2019, contributing over two-fifths of the global 3D printing metal market. This leadership position is expected to continue due to increased applications in the medical sector and the development of lightweight parts and instruments in aerospace and automobile industries. Meanwhile, the Asia-Pacific region is forecasted to grow at the fastest CAGR of 24.2% from 2019 to 2026, fueled by investments from key market players and strategic collaborations.
Key Market Players:
The report highlights prominent players in the global 3D printing metal market, including:
- 3D Systems
- Arcam AB
- Autodesk, Inc.
- Stratasys Ltd.
- The ExOne Company
- Hoganas AB
- Optomec, Inc.
- Organovo Holdings, Inc.
- Ponoko Limited
- Voxeljet AG
Conclusion:
The global 3D printing metal market is poised for significant expansion, driven by technological innovations and increasing applications across various industries. While challenges like high costs persist, opportunities abound, particularly in rapidly growing sectors such as healthcare, automotive, and aerospace & defense. With North America maintaining its lead position and Asia-Pacific emerging as a key growth region, the industry is set for dynamic evolution in the coming years.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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