3D Printing Metals Market Share, Size, Trends, Industry Analysis Report, By Type (Aluminum, Nickel, Titanium, Stainless Steel); By Technology; By Form; By End-Use; By Region; Segment Forecast, 2021 - 2028
The global 3D printing metals market size is expected to reach USD 5.65 billion by 2028 according to a new study by Polaris Market Research. The report “3D Printing Metals Market Share, Size, Trends, Industry Analysis Report, By Type (Aluminum, Nickel, Titanium, Stainless Steel); By Technology; By Form; By End-Use; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The industry is projected to witness significant growth over the forecast period. Wide choice of materials, high resolution, shortened development cycles, highly accurate and durable outputs are some factors driving the demand. Alloys are increasingly being used in the aerospace, automotive, and healthcare sectors for the manufacturing of finished products and prototypes, spare parts, and surgical implants among others.
The ease of using the alloys, along with reduced errors, higher design flexibility, efficient construction of complex structures, and reduced carbon footprint are some factors expected to boost the market growth for 3D printing metals during the forecast period.
The demand for titanium has increased owing to its high strength, biocompatibility, high corrosion resistance, and superior temperature resistance. Titanium is increasingly being used in the aerospace and defense industry for prototyping, and manufacturing of spare parts and tools owing to its high strength to weight ratio. Other applications of titanium include automotive, consumer electronics, and sports equipment among others.
The market is segmented into extrusion, powder bed fusion, binder jetting, sheet lamination directed energy deposition and others based on technology. The powder bed fusion segment dominated the global market in 2020. This technology is widely used for the development of visual models and prototypes. It makes use of a laser or electron beam for the fusion of powder. Powder bed fusion works with a wide range of metals such as titanium, stainless steel, aluminum, cobalt chrome, and copper among others.
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