Market Highlights
Metal 3D printing involves the sintering or melting of metal powders to make any object or shape. Steel, cobalt alloys, nickel alloys, titanium alloys, aluminum alloys, precious metals, and refractory materials are major types of metals used. It involves different methods, such as powder bed fusion, blown powder, binder jetting, and material jetting, to manufacture lightweight, reliable, and complex metal parts for various industries.
The 3D-printed metal parts market experienced a slow growth of 1.4% (YoY) in 2020 due to the pandemic. In 2021, the market recuperated at an impressive rate fueled by the combined effects of the gradual recovery in air passenger traffic, higher penetration of 3D-printed parts in the medical industry during and after COVID, and an increase in automotive production. The market is likely to maintain its growth momentum and is expected to grow at an impressive CAGR of 30.2% over the next five years to reach an annual market size of US$ 43.9 billion in 2028. Key benefits of 3D printing are lighter parts, enhanced part performance, optimizes fuel consumption, reduces emissions, economical to produce complex geometries, and less material wastage. Along with these advantages, growing acceptance of 3D printing technology in different end-use industries, expected increase in the production rate of key programs (A320neo, B737 Max, A220, B787, and A350XWB), increase in automotive production, and the growing medical devices market are likely to give an impetus to the demand for 3D-printed metal parts in the coming years.
Recent Market JVs and Acquisitions:
- In 2021, Desktop Metal acquired ExOne, a leading additive manufacturing company with a transaction value of US$ 561.3 million.
- Also, in 2021, Proto Labs, Inc. acquired 3D Hubs, Inc. for an aggregate closing consideration of US$ 280 million. The acquisition helped Proto Labs, Inc. to provide industry-leading digital manufacturing solutions from idea to prototype to full end-use part production.
- Stryker acquired Wright Medical Group N.V., a global medical device company in 2021, with an enterprise value of US$ 5.4 billion (approx.). Wright Medical Group N.V. is one of the leading players in 3D-printed ankle replacements.
- In 2018, ATI acquired Addaero Manufacturing, latter is one of the leaders in metal alloy-based additive manufacturing for the aerospace & defense industry.
Market Segments' Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Metal-Type Analysis
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Steel, Nickel Alloys, Titanium Alloys, Aluminum Alloys, Cobalt Alloys, and Others
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Titanium alloys are expected to maintain their dominance, whereas aluminum alloys are likely to be the fastest-growing metal type over the next five years.
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Manufacturing Process-Type Analysis
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Powder Bed Fusion, Blown Powder, and Others
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Powder bed fusion is anticipated to remain dominant, whereas blown powder will be the fastest-growing manufacturing process type over the next five years.
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End-Use Industry-Type Analysis
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Aerospace & Defense, Medical, Automotive, Energy, and Others
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Aerospace & Defense is anticipated to remain dominant, as well as the fastest-growing end-use industry over the next five years.
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Regional Analysis
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North America, Europe, Asia-Pacific, and the Rest of the World
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North America is likely to maintain its supremacy in the market, whereas Asia-Pacific is likely to be the fastest-growing region over the next five years.
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Based on the metal type, the market is segmented into steel, nickel alloys, titanium alloys, aluminum alloys, cobalt alloys, and others. Titanium alloy is estimated to remain the most dominant metal type in the market till 2028. Due to their lightweight, low thermal conductivity, high mechanical strength, and lower buy-to-fly ratio, they are preferred for the aerospace industry. Key applications for aerospace are airframe, wing structures, compressor blades, rotors, brackets, and other turbine engine components. Aluminum alloys, under the spotlight, are expected to record the highest growth during 2023-2028.
Among manufacturing process types, the market is segmented into powder bed fusion, blown powder, and others. Powder bed fusion is likely to maintain its lead over the next five years, owing to key advantages, such as reduced material wastage, improved production development time, efficient recycling of unmelted powder, and good resolution compared to other processes. Blown powder is likely to gain traction in the market during the forecasted period.
Among the end-use industry types, the market is segmented into aerospace & defense, medical, automotive, energy, and others. Aerospace & defense is expected to remain the largest and fastest-growing end-use industry type in the market during the forecast period owing to the increasing demand from aerospace engine component manufacturers due to 3D printing’s high precision, accuracy, and ability to print complex geometries. In the aerospace industry, metal 3D printing is used in a wide range of applications, from functional prototypes to tooling, replacement parts, and structural aircraft components.
In terms of regions, North America is expected to remain the largest market for 3D-printed metal parts during the forecast period. The USA had the world's largest 3D-printed metal parts market, followed by China and Germany in 2022. Asia-Pacific is estimated to mark the highest growth during the forecast period. China is the dominant 3D printing market in the region, driven by the “Additive Manufacturing Industry Development Action Plan” by the Chinese government.
Key Players
The market is fairly consolidated with the presence of some regional and global players. An inorganic growth strategy is preferred, especially by the leading players. Several crucial M&As led to several changes in the competitive landscape. The following are the key players in the 3D-printed metal parts market.
- GKN Powder Metallurgy (A Melrose Plc Company)
- GE Additive (Part of GE Electric)
- Stryker
- MTU Aero Engines AG
- Sandvik AB
- Oerlikon
- TRUMPF
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s 3D-printed metal parts market realities and future market possibilities for the forecast period. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 8 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The 3D-printed metal parts market is segmented into the following categories.
3D-Printed Metal Parts Market, by Metal Type
- Steel (Trend and Forecast)
- Nickel Alloys (Trend and Forecast)
- Titanium Alloys (Trend and Forecast)
- Aluminum Alloys (Trend and Forecast)
- Cobalt Alloys (Trend and Forecast)
- Others (Trend and Forecast)
3D-Printed Metal Parts Market, by Manufacturing Process Type
- Powder Bed Fusion (Trend and Forecast)
- Blown Powder (Trend and Forecast)
- Others (Trend and Forecast)
3D-Printed Metal Parts Market, by End-Use Industry Type
- Aerospace & Defense (Trend and Forecast)
- Medical (Trend and Forecast)
- Automotive (Trend and Forecast)
- Energy (Trend and Forecast)
- Others (Trend and Forecast)
3D-Printed Metal Parts Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, The UK, France, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil and Others)
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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