Metal 3D Printing is a laser-based technology used for the production of complex structures and smaller designs. Metal is the most crucial material used in the 3D printing process that involves layer-by-layer production, thereby increasing the overall accuracy of the final product.
Delta, BC -- (SBWIRE) -- 05/31/2021 -- According to the MarkNtel Advisors' research report, "Global Metal 3D Printing Market Analysis, 2021," the market is likely to grow at a CAGR of 30% during 2021-26 due to several factors, such as the operational benefits of 3D printing, the surging popularity of 3D printing over the conventional printing process, snowballing adoption of advanced technologies, enhancement of the 3D printing process, and mounting government support to promote 3D printing technologies. Additionally, the 3D printing process involves low costs and a lesser amount of wastage while creating a complex structure. Hence, based on these aspects, the demand for metal 3D printing shall increase tremendously in the coming future.
Key questions answered in the study
1. What are the current and future trends in the Global Metal 3D Printing market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Metal 3D Printing market?
5. What is the customer orientation, purchase behavior, and expectations from the Global Metal 3D Printing market service providers across various regions?
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Medical & Healthcare Sector Exhibits Fastest Growth
Based on the Application, the market bifurcates into Aerospace & Defense, Medical & Healthcare, and Automotive segments. Among these, the Medical & Healthcare segment is likely to grow significantly in the Global Metal 3D Printing market during the forecast period due to the mounting use of the 3D printing process in organ printing.
Further, 3D printing is widely used for pharmaceutical development and organ substitution as the 3D printing process can transform the medical industry and enhance life expectancy. Along with this, the surging inclination of most biotechnology industries towards tissue-engineering applications will aid the growth of the metal 3D printing market across the world.
"Global Metal 3D Printing Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Metal 3D Printing providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
'Aluminum and its Alloys' Segment to Grow at a Significant Rate
Based on the Metal & Alloy Type, the market bifurcates into Titanium & its Alloys, Aluminum & its Alloys, Steels, and Nickel & its Alloys. The 'Aluminum & its Alloys' segment is likely to grow substantially in the Global Metal 3D Printing market during 2021-26 due to its properties offered, such as high strength-to-weight ratio, fatigue strength, high corrosion resistance, and better build rates.
Besides, aluminum alloys are more economical than nickel or titanium alloys. Therefore, the 'Aluminum & its Alloys' Segment is likely to contribute to the overall market growth in the forecast period, reveals MarkNtel Advisors in their research report, "Global Metal 3D Printing Market Analysis, 2021."
According to MarkNtel Advisors, the leading players in the Global Metal 3D Printing Market are Carpenter Technology Corporation, Sandvik AB, Linde, Renishaw PLC, Materialise, SLM Solutions, Intech Additive Solutions Pvt. Ltd., 3D Systems, Inc., Trumpf GmbH + Co. Kg, and Stratasys Ltd.
Market Segmentation:
1. By Raw Material (Powder-Based Raw Material, Resin-Based Raw Material, Lamina-Based Raw Material, Filament/Wire-Based Raw Material)
2. By Technology (Powder Bed Fusion, Directed Energy Deposition, Binder Jetting, Metal Extrusion, Others)
3. By Application (Aerospace and Defense [Improved Development Cycles, Designing of Complex Parts, Design Consolidation, Manufacturing of Spares, Weight Reduction, Efficiency of the Materials, Assurance of in-Process Quality], Medical and Healthcare, Automotive, Other (Construction, Tool and Die, General Engineering))
4. By Metal & Alloy Type (Titanium and Its Alloys [Complexity of Parts, Strength-Weight Ratio {Aerospace, Automotive}, High-Temperature Strengths, Biocompatibility, Reduced Wastage, Reduced Printing Time] Aluminum and Its Alloys, Steels, Nickel and Its Alloys, Other Alloys)
5. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa)
6. By Country (U.S, Canada, Brazil, Argentina, Mexico, Germany, France, The U.K, Italy, China, India, Japan, South Korea, Saudi Arabia, South Africa)
7. By Competitors (Carpenter Technology Corporation, Sandvik AB, Linde, Renishaw PLC, Materialise, SLM Solutions, Intech Additive Solutions Pvt. Ltd., 3D Systems, Inc., Trumpf GmbH + Co. Kg, Stratasys Ltd)
About MarkNtel Advisors
MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.
We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.
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