The future of the global metal powders for additive manufacturing market is prosperous, thanks to the increasing demand for metal powders from a range of end-use industries such as aerospace and automotive. Manufacturers of metal powders are striving to form strategic alliances with original equipment manufacturers (OEMs) of several end-use industries in order to improve the quality, consistency, and performance of powders.
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Further, advances in additive manufacturing technology and increasing demand for advanced materials such as titanium are anticipated to boost the metal powders for additive manufacturing market.
Proving to challenge the market’s growth is high cost of metal powders, as cost of metal powders used in additive manufacturing is higher than the cost of their raw materials. Nevertheless, increasing demand for additive manufacturing technology due to its advantage of unrivalled design freedom is expected to bode well for the metal powders in additive manufacturing market.
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A report by Transparency Market Research forecasts the global metal powders for additive manufacturing to expand at a robust 22.4% CAGR over the forecast period of 2017 to 2025. At this pace, the market’s valuation of US$310.6 mn in 2016 will rise substantially to become US$1,783.9 mn by 2025-end.
Global Metal Powders for Additive Manufacturing Market
3D Printing to Continue to Remain Significant Application Segment through 2025
The report studies the global metal powders for additive manufacturing market on the basis of four categories, viz. manufacturing technique, application, material type, and region. Depending upon manufacturing technique, the segments into which the metal powders for additive manufacturing market is divided are powder bed, blown powder, and others. The powder bed segment is further split into Direct Metal Laser Sintering, Selective Laser Melting, and Electron Beam Melting. The blow powder segment is bifurcated into Direct Metal Deposition and Laser Engineering Net Shapes. Of them, powder bed held the leading market share in 2016.
On the basis of material type, the metal powders for additive manufacturing market has been segregated into alloy, stainless steel, other steel, and others. The stainless steel segment is further bifurcated into austenitic steel, martensitic steel, duplex steel, and ferritic steel. The alloy segment is further sub-segmented into titanium, cobalt, copper, nickel, and aluminum. The other steel segment comprises high speed steel, tool steel, and low alloy steel. Vis-à-vis revenue, the alloy segment held the leading more than 70% of the market in 2016.
By application, 3D Printing, Rapid Prototyping, and Direct Digital Manufacturers are the segments into which the metal powders for additive manufacturing market has been segmented. Of them, 3D Printing accounted for more than 70% market share in 2016.
North America to Continue to Dominate Regional Hierarchy of Metal Powders for Additive Manufacturing Market
In terms of region, the metal powders for additive manufacturing market has been classified into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Amongst all, North America held supremacy in 2016 holding more than 35% of the overall market; going ahead too the region is anticipated to lead amongst other key regional segments over the forecast period.
The report profiles leading players in the global metal powders for additive manufacturing market, namely GKN Plc., Rio Tinto, Hitachi Chemical Co. Ltd., ATI Powder Metals, Sandvik AB, Renishaw plc, Praxair Technology Inc.,Arconic Inc., Miba AG, Hoganas AB, Metaldyne Performance Group Inc., BÖHLER Edelstahl GmbH & Co KG, Carpenter Technology Corporation, and Aubert & Duval.