Automotive applications to drive additive manufacturing with metal powders market to 2024
Date: 2018-07-03   Author: Sunil Hebbalkar  Category: #market

The escalating deployment of technological advancements in existing manufacturing facilities will reportedly drive additive manufacturing with metal powders market. The increasing usage of 3D printing technology for producing complex designs is also expected to upsurge the product demand over the ensuing years.

Five trends prevalent in additive manufacturing with metal powders industry:

  • Reportedly, PBF-based additive manufacturing with metal powders industry size will grow at a CAGR of 27% over 2017-2024, driven by the compatibility of this technique with stainless steel and titanium while developing 3D printed medical devices and its expansive use for manufacturing prosthetic and dental restoration devices.
  • As per estimates, additive manufacturing with metal powders market will generate a revenue of more than USD 240 million from stainless steel powders by 2024. The vast expanse of industrialization across several geographies comprising France, UK, and Germany is expected to fuel the product demand.
  • Additive manufacturing with metal powders industry share from automotive applications is poised to register a CAGR of more than 25% over 2017-2024. The growing popularity of 3D printing technology to develop complex automotive parts will generate lucrative opportunities for the industry contributors, claim reliable sources.
  • Titanium alloy powders are being used increasingly in recent times for aerospace applications, pertaining to the material’s mechanical characteristics such as low density, high strength, corrosion resistance, and formability. As per reports, additive manufacturing with metal powders market from titanium alloy will register a CAGR of 29% over 2017-2024.
  • Regionally, APAC additive manufacturing with metal powers industry will grow at a CAGR of 25% over 2017-2024, powered by the supportive regulatory landscape across countries such as China and India.

Industry contenders have been focusing on amassing gains with the help of long-term business strategies and technological advancements. The competitive spectrum of additive manufacturing with metal powders market comprises large number of reputed companies such as Trumpf, Matsuura Machinery, 3D Systems, EOS GmbH, Optomec, Renishaw, Arcam, and Concept Laser.

About Author

Sunil Hebbalkar

Sunil Hebbalkar

Sunil currently works as an content writer at AlgosOnline. A Post graduate mechanical design engineer by qualification, he worked as an intern at the defense lab for one year in the engine design and development department before switching his professional genre. Foll...

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