Additive Manufacturing With Metal Powders Market Anticipated to Exceed $970 Million by 2026, Says Global Market Insights Inc.
The growth of additive manufacturing with the metal powders market is driven by the growing use of additive manufacturing in various sectors including medical, aerospace, and automotive, says the report.
SELBYVILLE, Del., June 28, 2020 (Newswire.com) - As per Global Market Insights Inc., the additive manufacturing with metal powders market size was valued at $360 million in 2019 and is likely to surpass a valuation of nearly $970 million by 2026, registering a CAGR of 18% from 2020 to 2026. The report provides a thorough analysis of the key investment avenues, wavering industry trends, overall market estimations & size, top winning strategies, drivers & opportunities, and competitive scenario.
As per market trends and analysis, positive indicators across healthcare applications, primarily for orthopedic implants due to high customization and design freedom, will contribute towards the metal additive manufacturing industry size. Moreover, ongoing technological advancements to enhance cost-effectiveness, patient care, and to provide patient-specific implants will make a positive impact on product demand.
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The growing adoption of prototyping has led to authentication, as well as the development of faster designing, thereby reducing manufacturing duration and cost, which is likely to favor industry growth. It also helps reduce downtime, saving offshore costs in drilling and exploration activities. Moreover, increasing product usage due to its cost-saving properties would further fuel the additive manufacturing with the metal powders market.
Key reasons for additive manufacturing with metal powders market growth:
- Growing product demand across Europe.
- Increasing adoption in the aerospace and automotive sector.
- Growing R&D activities and ongoing technological advancements in additive manufacturing.
2026 forecasts anticipate the ‘aerospace’ application segment showing appreciative growth:
The aerospace application segment is anticipated to grow by more than 24.0% by the end of the analysis period. Additive manufacturing is widely used in the production of several cutting-edge aircraft components for fuselages, turbine parts, and jet engines. The higher flexibility in manufacturing further lets manufacturers produce components that are lightweight and reduce fuel emissions, which will result in reduced CO2 emissions, costs, as well as better airfare, stimulating the additive manufacturing with metal powders market share.
Europe & Asia-Pacific additive manufacturing with metal powders industry to witness appreciative growth:
Additive manufacturing in the metal powders market of Europe was valued at more than $135 million in 2019 and is projected to grow by more than 19.5% by the end of the analysis period. The growing focus of EU regulations towards minimizing vehicle weight and improving fuel efficiency to control emissions will encourage market growth.
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The Asia-Pacific is anticipated to surpass approximately $170 million by the end of the analysis timeframe. The 3D printing industry of China is demonstrating an exponential growth trajectory due to regional manufacturers who are focusing on developing inexpensive ways to create quality parts. Additionally, favorable government policies coupled with rising expenditure on technological advancements will drive the regional additive manufacturing with metal powders market trends.
Leading market players:
The key market players analyzed in the additive manufacturing with metal powders industry report include AS America, Inc, Aubert & Duval S.A, Allegheny Technologies, Airbus SE, 3D Systems Corporation, Additive Industries, Aerojet Rocketdyne, and APWorks among others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision-making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company-level, and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Source: Global Market Insights Inc.