Global Metal Additive Manufacturing Market: Overview
The global metal additive manufacturing market is anticipated to obtain growth with rising demand from the automobile industry. India, China, Japan, and Germany could demonstrate high demand for metal additive manufacturing as consumers are increasingly inclined to using fuel-efficient, faster, and lightweight automobiles. Until the end of 2025, the market is expected to offer some lucrative prospects as automobile manufacturers continue to employ additive manufacturing to design and customize automobiles as per the demands of consumers. In the near future, demand in the market could amplify on the back of recent rise in production and development of aircraft engines.
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Global Metal Additive Manufacturing Market: Trends and Opportunities
Aircraft engine manufacturers are observed to engage additive manufacturing to develop engine components using complex design capabilities. Weight of aircraft engines is also researched to be noticeably reduced with the use of additive manufacturing. Used for functional purpose in aircraft engines, printed parts find augmented application due to innovations in technologies, materials, and computer-aided design (CAD) employed in additive manufacturing. Moreover, manufacturers are upgrading titanium, aluminum, nickel, steel, and their alloy combinations for additive manufacturing. Thus, the world metal additive manufacturing market is predicted to register massive growth as aircraft engines demand from OEMs sees a strong increase.
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Besides automotive and aerospace, metal additive manufacturing could be used in other industries such as academic institutions, tools and mold, and healthcare. However, the aerospace industry is foreseen to account for a staggering amount of share of the world metal additive manufacturing market in the near term. In aerospace, metal additive manufacturing is used to achieve weight reduction, low tolerance, extreme requirements, and complex geometries.
Global Metal Additive Manufacturing Market: Market Potential
Snowballing use of metals in additive manufacturing (3D printing) to produce quality medical equipment, aerospace components, and more will attain the support of a new standard to be published as F3303 by American Society for Testing and Materials (ASTM). The standard makes key points on ways to authorize processes and machines that assist to create parts with the help of laser or electron-beam powder bed fusion, says a press release of the organization dated April 4, 2018. It also touches upon related steps required to control and configure digital data. Customers could be assured of the quality of parts by ensuring that additive manufacturing steps are repeatable and fixed, continued the release.
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Global Metal Additive Manufacturing Market: Regional Outlook
There are some economies that could prove to be extremely critical for growth of the international metal additive manufacturing market. These include Italy, the U.K., China, Germany, Japan, and the U.S. According to researchers, the U.S. has showcased its dominance in the market by attaining a larger share in the recent years. Adoption of metal additive manufacturing is being witnessed across a range of industries in the country, including military. Growth opportunities could increase in this country-wise market as it achieves a boost with production of metal prosthetics increasingly using metal additive manufacturing.
Global Metal Additive Manufacturing Market: Competitive Landscape
The international metal additive manufacturing market is foretold to testify the presence of a number of companies operating in the industry. Most of these companies could be classed in terms of technology. In order to survive the competition in the market and serve rising demand of end users, players are envisaged to concentrate on extending their product portfolio. New entrants might find it difficult to make developments in the market because of the requirement of patents and licenses for metal additive technologies. The market marks the presence of key players such as SLM Solutions, Renishaw, ExOne, EOS, and Arcam. However, there could be other prominent players active in the industry, viz. Phenix System and Concept Laser.