Increase in trend towards adoption of prototype has led to the development and validation of design faster along with reduction in production time & cost in various industrial sectors which has stimulated additive manufacturing with metal powders market demand.

Sellbyville, DE -- (SBWire) -- 05/17/2019 --The material spectrum of additive manufacturing with metal powders market is rather extensive and encompasses quite a substantial number of metals and alloys. With robust rise in the number of procedures for additive manufacturing, more and more constituent metals are being involved in the manufacturing process, thereby expanding the material landscape of additive manufacturing with metal powders industry. The most common metal powders used for additive manufacturing are aluminum, stainless steel, cobalt, nickel and titanium alloys.

Titanium among these is known to register an exorbitant demand, driven by its formability, light weight, superior strength and corrosion resistance. In fact, estimates claim that titanium alloy based additive manufacturing with metal powders market size will grow at a phenomenal CAGR of 29% over 2017-2024, subject to the material's extensive deployment in the aerospace industry.

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According to a new research report by Global Market Insights, Inc. Additive Manufacturing with Metal Powders Market size is expected to cross USD 1.1 billion by 2024.

The material spectrum of additive manufacturing with metal powders market is rather extensive and encompasses quite a substantial number of metals and alloys. With robust rise in the number of procedures for additive manufacturing, more and more constituent metals are being involved in the manufacturing process, thereby expanding the material landscape of additive manufacturing with metal powders industry. The most common metal powders used for additive manufacturing are aluminum, stainless steel, cobalt, nickel and titanium alloys.

Titanium among these is known to register an exorbitant demand, driven by its formability, light weight, superior strength and corrosion resistance. In fact, estimates claim that titanium alloy based additive manufacturing with metal powders market size will grow at a phenomenal CAGR of 29% over 2017-2024, subject to the material's extensive deployment in the aerospace industry.

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One of the chief advantages of additive manufacturing is that it is produced directly from a CAD model, owing to which it is extremely flexible and subsequently finds major applications in highly individualized processes such as dental restorations. Not to mention, the technique's versatility has led to its deployment in numerous other medical applications. It comes as no surprise therefore, that additive manufacturing with metal powders industry size from medical application is projected to reach USD 200 million by 2024, given that the process would help speed up production time without inflating the costs.

Additive manufacturing is potent enough to be considered as one of the disruptive technologies that can change the entire landscape for design and manufacturing. From artists and designers to huge enterprises, the adoption of additive manufacturing is indeed witnessing a major ascent. In consequence, additive manufacturing with metal powders industry outlook has been observing a positive change of sorts.

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As the future of components is set to focus on the design for function rather than design for manufacturing, additive manufacturing with metal powders market size is undeniably slated to witness phenomenal growth between 2017 and 2024, with a target estimation of 4.5 kilo tons by 2024, in terms of volume.