Global Additive Manufacturing with Metal Powders Market is anticipated to rise at a value CAGR of 15.8% over 2019-2028. According to a study published by Insure Insights on the Global Additive Manufacturing with Metal Powders Market. Additive Manufacturing is known as 3D printing. It is a technology that delivers three-dimensional parts layer by layer from a material or metal. The manufacturing includes rapid prototyping, lауеrеd mаnufасturіng, and аddіtіvе fаbrісаtіоn. It is used to deliver customized products. The rise in government initiatives to develop 3D printing has driven market growth.
Top Driver: The rise in penetration of additive manufacturing and metal powder techniques
The surge in the importance and awareness for addictive manufacturing and metal powder techniques are the key factor boosting the market. Moreover, the high contribution of the oil and gas industry and growing demand for functional and light-weighted parts automotive and aerospace, have expanded the market. The cost effectiveness in manufacturing and the increase in the customer demands for these products in end-user industries have propelled the overall market. The rеduсtіоn in the tооlіng соѕt, іnсrеаѕеd рrоduсtіvіtу, fаѕt dеѕіgn duрlісаtіоn, of the products have driven the market growth.
Blown Powder manufacturing techniques rule the Global Additive Manufacturing with Metal Powders Market
Based on the Manufacturing techniques, the Blown Powder Manufacturing techniques segment has dominated segmental growth. This technique has various applications; they are being used in freeform & cladding manufacturing. This technique consist of a lens, a powder delivery nozzle, a feedback sensor along with supply for inert gas, and a focused laser beam. It is also used as a laser-based additive manufacturing due to its complex chemical, metallurgical nature.
In terms of the Material, the market is segmented into Alloy, Stainless Steel, Precious Metal, Other material. The Alloy, segment have obtained lucrative market share. Based on Application, the market is segmented into Aerospace, Automotive, Oil & Gas, and Others. Aerospace has held the most remarkable growth as they assist in rapid prototyping and auto parts production; it decreases C02 emissions, creates lightweight & energy-efficient components.
The technological advancements in 3D technology in Europe have proved to be a boon for the regional market
The technological advancements in 3D printing technology have increased the demand for the latest designs that are lighter, cleaner, & safer products coupled with the presence of major industry players like Mercedes, Audi, BMW have boosted the regional revenue of Europe. The North American market is the second largest due to the surge in the consumption of additive manufacturing with metal powders in end-user industries, the increase in the use of smartphones and rapid progress in the metal industry have escalated the overall regional growth
Mergers, Acquisitions, and Technological advancements are the key strategies of the competitors in the market.
Mergers, acquisitions, and technological advancement in the products are strategies used by competitors for overall growth. The key competitors of the Global Additive Manufacturing with Metal Powders Market Arcam, EOS, 3D systems, Concept Laser, Renishaw, Trumpf, Optomec, Realizer, AddUp and Matsuura Machinery.
Trumpf: Trumpf, is one of the major competitors of Additive Manufacturing with Metal Powders. In December 2019, Trumpf, had announced the acquisition of Laser Diode Division of Philips; this deal was done by Trumpf, to expand its portfolio with high-power diode lasers.
AddUp: AddUp is one of the key competitors of the market. In June 2018, AddUp had announced the acquisition BeAM, a manufacturer of directed energy deposition (DED) machines. This acquisition was made by AddUp to strengthen its product portfolio
Scope of the Report
By Manufacturing technique
Key Reasons to Purchase this Report
Table of Content
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