Growing demand in medical industry owing to produce implants for orthopedic implants, dental restorations such as crowns inlays and onlays, surgical instruments and external prosthetics may foster 3D printing with metal powders market size. The market demand is likely to be driven owing to rising product demand in personalized medicine with custom-made specific implants which are generally expensive using traditional machining methods. It in turn helps manufactures to produce these machines with less cost in a faster time.
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Rising adoption of prototyping has led to development and validation of design faster, thereby reducing cost and production time which is likely to favour additive manufacturing with metal powders growth. Growing oil & gas exploring and drilling activities along with manufacturers focusing towards efficient oil recovery may fuel market demand. It also helps to minimize downtime saving offshore cost in drilling and exploration activities.
Powder bed technique is widely used owing to its cheaper production and broad range of material selection. All PBF process involves spreading of powder material over previous layers involving mechanism including roller and a blade. It also has the ability to integrate technology for visual models and prototypes driving technology demand in additives manufacturing with metal powders market.
Manufacturing of aerospace parts requires various alloys such as titanium, cobalt and copper owing to its superior properties such as high strength, ductility and toughness. Titanium alloy offers high temperature strength and its creep characteristics are gaining popularity to be used in aerospace and automotive market which may drive overall market growth.
Strong application outlook of additive manufacturing with metal powders in automotive industry will boost overall demand. 3D printing with metal powders market enables automotive manufacturers to produce components very quickly and design complex parts with ease and minimum fuss. Various automotive parts and engineering tools are produced using this technology to provide high customization and maximum cost benefits. Other benefits provided by additive manufacturing with metal powders technology such as maximum design freedom, reducing C02 emissions, producing light weight & energy efficient components and reducing production costs are some of the factors which foster market share.
As per industry report, the booming automotive market in Europe which is involved in improving fuel efficiency and emission control may impact production technology for automobile parts and drive product market size. Advancements in additive manufacturing with metal powders technology has opened new horizons for newer designs, cleaner, lighter & safer products along with shorter lead time & cost. Furthermore, development of various advanced materials preferring enhanced quality prototyping may foster regional market growth. According to 7th Framework Programme for Research and Technological Development, European FP7 factories are researching on reducing cost for graphene-based thermoplastics for production of high-strength plastic components which should propel regional market demand.
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Some major findings of the 3D printing with metal powders market report include:
- The market demand for powder bed technique is increasing globally owing to its low cost, powder recycling and minimum support features.
- Growing automotive business and rising disposable income in Asia Pacific has increased consumer preference for fuel efficient vehicles which is driving the overall additive manufacturing with metal powders demand.
- The booming healthcare market size in Latin American countries such as Brazil pertaining to growing technology regarding the importance of additive manufacturing with metal powders in various skull injuries of should boost market growth.
- Regulatory guidelines by ASTM and CFDA for metal powders used in additive manufacturing process is likely to favor overall industry growth.
- 3D Systems, Additive Industries, Airbus SE, Arcam AB and Cerevo are among the market leaders operating in the global 3D printing with metal powders market.
- Additive manufacturing with metal powders manufacturers are focusing on quality and product differentiation to gain a competitive edge over their rivals which is likely to increase market share.
Several additive manufacturing with metal powders industry players are focusing towards launching new techniques to achieve market leadership in automotive and healthcare industries. Key market players are also focusing on research & development to offer wide range of offerings to end-use industries. Several manufacturers are adopting various strategies such as mergers & acquisitions to expand their additive manufacturing with metal powders product portfolio.
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SOURCE Global Market Insights, Inc.