Additive Manufacturing with Metal Powders Market Is Anticipated To Be Highest Growth Between 2019 To 2024
Additive Manufacturing with Metal Powders Market size is
expected to cross USD 1.1 billion by 2024; according to a new research report
by Global Market Insights, Inc. Additive manufacturing with metal powders
market has observed an appreciable expansion in recent years, essentially
pertaining to the fact that the technique helps to build convoluted components
that were earlier considered difficult to construct. Today, additive
manufacturing has moved beyond the conventional prototyping technology, which
has indeed acted as a major driving force for additive manufacturing with metal
powders industry growth. Not to mention, the deployment of this technology has
led to effective production of components that are now massively demanded
across the aerospace, automotive, and medical sectors.
The material spectrum of additive manufacturing with metal
powders market is rather extensive and encompasses quite a substantial number
of metals and alloys. With robust rise in the number of procedures for additive
manufacturing, more and more constituent metals are being involved in the
manufacturing process, thereby expanding the material landscape of additive
manufacturing with metal powders industry.
The most common metal powders used for
additive manufacturing are aluminum, stainless steel, cobalt, nickel and
titanium alloys. Titanium among these is known to register an exorbitant
demand, driven by its formability, light weight, superior strength and
corrosion resistance. In fact, estimates claim that titanium alloy based
additive manufacturing with metal powders market size will grow at a phenomenal
CAGR of 29% over 2017-2024, subject to the material’s extensive deployment in
the aerospace industry.
Stainless steel has
been touted as another product that is slated to witness potential growth in
the additive manufacturing with metal powders market. This growth can be
primarily credited to the material’s ferritic microstructure that makes it
corrosion resistant and delivers superior mechanical properties to stainless
steel, deeming it prefect for automobile parts, kitchen equipment and
industrial appliances. Fueled by its massive application spectrum, stainless
steel based additive manufacturing with metal powders industry size is
projected to register a valuation of around USD 240 million by 2024.
Though additive
manufacturing started out as an effective means for modelling and prototyping,
additive manufacturing with metal powders industry has now experienced
commendable expansion, subsequently leading to the application of the technique
in a plethora of sectors. Industrial domains such as medical, dental,
aerospace, automotive, jewelry, furniture, and architecture have been
experiencing a touch of 3D printing techniques, while companies partaking in
additive manufacturing with metal powders industry have been vying with one
another to innovate varied products.
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https://www.gminsights.com/industry-analysis/additive-manufacturing-with-metal-powders-market
https://www.gminsights.com/industry-analysis/additive-manufacturing-with-metal-powders-market
The automotive sector is a prominent end-use
domain witnessing the deployment of additive manufacturing. As the demand for
lightweight parts has been increasing due to the rising need to curb carbon
emissions, auto parts manufactured through 3D printing are being preferred over
conventionally manufactured parts. In response, additive manufacturing with
metal powders market will witness a CAGR of 25% from automotive applications,
over 2017-2024.
One of the chief advantages of additive
manufacturing is that it is produced directly from a CAD model, owing to which
it is extremely flexible and subsequently finds major applications in highly
individualized processes such as dental restorations. Not to mention, the
technique’s versatility has led to its deployment in numerous other medical
applications. It comes as no surprise therefore, that additive manufacturing
with metal powders industry size from medical application is projected to reach
USD 200 million by 2024, given that the process would help speed up production
time without inflating the costs.
Additive manufacturing is potent enough to be considered as
one of the disruptive technologies that can change the entire landscape for
design and manufacturing. From artists and designers to huge enterprises, the
adoption of additive manufacturing is indeed witnessing a major ascent. In
consequence, additive manufacturing with metal powders industry outlook has
been observing a positive change of sorts. As the future of components is set
to focus on the design for function rather than design for manufacturing,
additive manufacturing with metal powders market size is undeniably slated to
witness phenomenal growth between 2017 and 2024, with a target estimation of
4.5 kilo tons by 2024, in terms of volume.
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 along with growth consulting services.
Our business intelligence and industry research reports offer clients with
penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Connect with us twitter | LinkedIn | Facebook | Google+
Additive Manufacturing with Metal Powders Market Is Anticipated To Be Highest Growth Between 2019 To 2024
Reviewed by GMI
on
October 17, 2019
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