United States 3D Printing Metals Market to be Dominated by Powder Segment Through 2028
Expanding industrial
applications and surging demand from automotive and aerospace sectors to drive
the United States 3D Printing Metals Market in the forecast period, 2024-2028.
According to TechSci Research report, “United States 3D Printing Metals Market - By Region, Competition Forecast &
Opportunities, 2028F,” the
United States 3D Printing Metals Market is anticipated to grow at a steady rate
in the forecast period of 2024-2028, driven by surging demand from the
automotive and aerospace & defense industries. Metal 3D printing allows
aerospace designers to build superior-quality parts without facing restrictions
such as production feasibility, complexity, or cost. This is expected to drive
the growth of the US 3D printing metals market in the upcoming years. An
increasing number of product applications for additive manufacturing in fields
such as oil & gas, medical & dental, and education, among others, are
giving a healthy push to market growth. However, the high costs of metal powder
and industrial-grade printers pose impending challenges for the US 3D printing
metals market during the forecast period.
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The United States 3D
Printing Metals Market is segmented by form, type, manufacturing process,
end-user industry, region, and competitive landscape. Based on form, the market
is divided into powder and filament. Based on type, the market can be
categorized into titanium, nickel, stainless steel, and aluminum. Regarding the
manufacturing process, the market can be segmented into Direct Metal Laser
Sintering (DMLS), Selective Laser Melting (SLM), and Others. Based on the
end-user industry, the market is divided into aerospace & defense,
automotive, and medical & dental. Regionally, the United States is divided
into the West, Midwest, Northeast, and South.
In terms of form, the
powder segment was the highest contributor to the market, and the filament
segment is estimated to grow with the highest CAGR during the forecast period.
The growing use of metal powder-based 3D printing in applications such as
aerospace, medical, and rapid tooling areas is driving this trend.
Regarding type, the
titanium segment is expected to have the largest share of the US 3D printing
metals market during the forecast period. The growth of the titanium segment
can be attributed to the rising demand for 3D printed metal parts from the
aerospace & defense and automotive end-use industries. Titanium possesses
properties such as high impact and high-temperature resistance. Titanium is
also used in the medical & dental end-use industry to manufacture
orthopedic and dental implants, as well as artificial knee and hip
replacements.
In terms of end-user
industry, the aerospace & defense industry is projected to be the fastest
growing in the US 3D printing metals market during the forecast period. Metal
3D printing is used to print fuel nozzles and other critical engine components
that require high precision and accuracy in the aerospace & defense
industry. 3D printing reduces the overall weight of an aircraft, thereby
reducing fuel consumption. 3D printing metals are also used to manufacture
specific brackets for satellites without altering the mold designs and
manufacturing process. The increasing demand for critical engineering and
fabrication applications in the aerospace & defense industry is driving
this segment.
Major companies operating in the United States 3D
Printing Metals Market are:
- Stratasys Ltd.
- GE Additive
- Proto Labs, Inc.
- LPW Technology Ltd.
- Pollen AM Inc.
- Materialise NV
- Renishaw Inc
- Hoganas AB
- Carpenter Technology Corporation
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The transition from rapid prototyping to production
utilizing 3D printing is anticipated to open up new opportunities for market
participants. According to a recent survey of 3D centers, more than half of
enterprises use 3D printing to create functional end-use products. In recent
years, the automotive, transportation, and biotechnology industries have
witnessed an increase in the use of 3D printing.
“The
United States 3D printing metals market is projected to grow at a brisk rate
during the forecast period due to innovative product launches, as well as
promotional strategies being undertaken by manufacturers in the country such as
Carpenter Technology Corporation, among others. Furthermore, decreased prices
of 3D printers, along with the accessibility of advanced raw materials like
stainless steel powder, are expected to further fuel the growth of the United
States 3D printing metals market. Additionally, there are many more factors
that will drive the market,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“United States 3D Printing Metals Market
By Form (Powder and Filament), By Type (Titanium, Nickel, Stainless Steel,
Aluminum), By Manufacturing Process (Direct Metal Laser Sintering (DMLS),
Selective Laser Melting (SLM), Others), By End User Industry (Aerospace &
Defense, Automotive, Medical & Dental), By Region, Competition Forecast
& Opportunities, 2028,” has evaluated the future growth potential of United
States 3D Printing Metals Market and provides statistics and information on
market structure, size, share, and future growth. The report is intended to
provide cutting-edge market intelligence and help decision-makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities
present in the United States 3D Printing Metals Market.
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