New York, NY -- (SBWIRE) -- 12/24/2020 -- The term additive manufacturing can be described as the fabrication of objects through the deposition of a material by using a nozzle, print head, along with other printing technology. Additive manufacturing, consisting of metal powders, is described as the process of joining elements to make objects from 3D model data, mostly layer upon layer, as opposed to subtractive production methodologies such as machining.
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Market Drivers
The global additive manufacturing with metal powders market is forecast to reach a valuation of USD 50.65 Billion by 2026. This can be majorly associated with an increase in demand in the automotive industry. Based on statistical data, affordable manufacturing expense is expected to become the most common growth interest globally in the years to come. High consumer requirements and global enhanced demand from aerospace and automation industry are also prominent factors influencing the market demand.
Further key findings from the report suggest
Alloy is projected to be one of the fastest growing Product of the market. The segment is projected to grow at a CAGR of 14.5% in the forecast period.
Expanding influence towards light weight and functionally combined parts in automotive and aerospace industry to reduce environmental impact along with biodegradable implants for medical treatments is expected to drive additive manufacturing (AM) with metal powders market growth. Increased usage of AM in fabrication of aerospace, end-use products in automotive, oil & gas, dental restorations, and medical implants should propel technology demand.
North American market is forecasted to grow at a CAGR of 14% in the coming years. The usage of smart phones and penetration of IoT is considered to be one of the leading factors of the market growth.
Key participants include AP&C, 3D Systems, ATI Metals, AddUp Solutions (Fives/Michelin), Additive Industries, Alcoa/Arconic, Concept Laser, Arcam, Carpenter, EOS.
For the purpose of this report, Reports and Data have segmented global additive manufacturing with metal powders market on the basis of Product, Technology ,Application, Metal powder specification and region:
Product Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Plastic
Metal
Alloy
Technology Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Laser based-powder bed fusion
Bluetooth AntennaBlown powder
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Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Aerospace
Automotives
Medical
Energy & utilities
Oil & gas
Metal powder specification Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
spherical geometry
Particle size
Regional Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Million; 2018-2026)
North America
Europe
Asia Pacific
Latin America
MEA
Regional Outlook
North America is projected to be the key revenue-generating region during the forecast period. The market is expected to grow at a CAGR of 14% during the forecast period. The increase in the growth of technologies in the region has provided immense growth opportunity for the market. Presence of a large number of aerospace and automation manufacturers in the region will be responsible for this growth.
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