About the Metal Additive Manufacturing Market
Metal additive manufacturing is a technique in which a scanned or digitally designed object is formed into a 3D solid using an additive process. In this process, metal powder is applied in successive layers with little wastage and subject to a concentrated energy source that melts and shapes the metal. Additive manufacturing products can be built from various materials, plastic and metals being the most common materials.
Metal additive manufacturing offers the following advantages over traditional manufacturing:
Technavio Announces the Publication of its Research Report – Global Metal Additive Manufacturing Market 2016-2020
Technavio recognizes the following companies as the key players in the global metal additive manufacturing market: Arcam, EOS, ExOne, Renishaw, and SLM Solutions.
Other Prominent Vendors in the market are: Concept Laser and Phenix Systems.
Commenting on the report, an analyst from Technavio’s team said: “A trend boosting market growth is the increase in demand for aircraft engines from OEMs. Advances in CAD, materials, and technologies used in additive manufacturing is increasing the use of printed parts for functional use in engines. Steel, nickel, aluminum, titanium, and their alloy combinations are being upgraded for additive manufacturing.”
According to the report, a key growth driver is the increase in use of metal additive manufacturing in industrial applications. Metal additive manufacturing helps produce complex shapes at a shorter lead time. Therefore, it is widely employed for prototyping. Various industrial end-users are service bureaus, research institutions, and the aerospace industry. Some of the highly valued and advanced products from metal additive manufacturing are aero engines and turbine components.
Further, the report states that one challenge that could restrict market growth are high production costs. The costs of additive technology for industrial use are higher than for conventional methods of production such as casting. High machine costs, expensive metal powders, and slower build rate makes metal additive manufacturing expensive.
Arcam, EOS, ExOne, Renishaw, SLM Solutions, Concept Laser, Phenix Systems.
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