Growing Use in Aerospace Industry to Bode Well for Metal Material Based 3D Printing Market

Published Date : May 15, 2017

ALBANY, New York, May 15, 2017: has stated the addition of a new market research report to its report repository. The research publication is titled, “Global Metal Material Based 3D Printing Market 2017-2021” The research report offers an exhaustive outlook of the dynamics that are controlling the changes that are occurring in the global market and further assesses them painstakingly The effect of some progressive and regressive elements has also been taken into consideration with equal significance in the market intelligence report. It also delivers data on the marketing and publicity strategies, shares, and merchandises of the top drawer companies.

3D printing refers to technique in which a digitally designed or a scanned object is turned into three dimensional solid employing a type of additive process. In this particular process, metal is applied in consecutive layers with comparatively less wastage. Three dimensional printing merchandises are made from materials that are substitutes of conventional metals and plastic. The global metal material based 3D printing market is expected to grow exponentially owing to the mounting demand from industries such as healthcare and aerospace. Three dimensional printing materials aid in achieving weight reduction, extreme requirements, and complex geometries in the aerospace industry.

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According to the report, the global market for metal material based 3D printing is anticipated to rise at a 10.16% CAGR from 2017 to 2021. One of the main drivers of the market is the rising adoption rate of metal 3D printing in different industrial applications. Metal three dimensional printing is broadly adopted for the purpose of prototyping procedures as it can create complex shapes in a comparatively short lead time. Many of the advanced and high valued products from three dimensional printing are turbine components and aircraft engines. The end users of metal material based 3D printing are the aerospace industry, research institutions, and service bureaus. Furthermore, metal 3D printing is also employed in applications such as molds with cooling channels in the mold and tool making segment, manufacturing inserts, and direct tooling. Advantages such as ability to deliver partially complex geometries and an enhanced degree of maturity are further expected to support the growth of the global metal material based 3D printing market in the coming years.

In terms of type, titanium led the market in 2016 with the leading market share captured by it. The growing adoption of 3D printing employing titanium in industries such as medical, dental, and aerospace is anticipated to keep titanium in the lead position in the upcoming years as well. Region-wise, the Americas dominated the market accounting for the maximum share in 2016 owing to the presence of several distinct manufacturing companies in the region. The cream of the crop players in the market are SLM Solutions, Sandvik, Hoganas, EOS, and Arcam among several others.

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