Nov 27, 2015 | By Benedict
Independent market research firm MarketsandMarkets has released a report which forecasts significant growth in the 3D printing powder market, with North America remaining the most dominant region for 3D printing powder production.
The report "3D Printing Powder Market by Type (Metal, Plastic, Ceramic), by Application (Aerospace & Defense, Automotive, Medical & Dental, Others), by Geography (North America, Europe, Asia-Pacific, RoW) - Global Forecast to 2020” has found that the 3D printing powder market is expected to reach $636.9 Million by 2020, at a compound annual growth rate (CAGR) of 24.4% from 2015 to 2020. The report explains the effect of several factors contributing to this figure, such as technological advancements, new product developments, and expiry of key patents in the powder-based selective laser sintering industry. Technological advancements and new product developments will attract a greater number of buyers, whilst the expiry of patents will allow a greater number of companies to legally produce existing technology manufactured by other firms.
MarketsandMarkets found that 3D printing powders are still primarily used in aerospace and defense, with roughly one third of the 3D printing powder market being claimed by those industries. One important reason for this dominance is the use of 3D printing powder in the production of jet engines and engine components. Just yesterday, a contract awarded to Aerojet Rocketdyne by NASA showed that these ventures remain prevalent and lucrative. 3D printing powders are also used in other industries, such as automotive and medical & dental. Medical professionals can use the materials to produce tailor-made implants and medical devices.
According to the report, metal powders are the most dominant of 3D printing powders, with metal being the preferred material for engineering and fabrication applications, as well as the natural choice for engine components due to its robustness and resistance to heat. A significant portion of the metal 3D printing powders market is made up of car manufacturers, many of which continue to use metal powders for prototyping and tooling. BMW, for example, recently celebrated 25 years of additive manufacturing within the company, and virtually all major automotive firms have shown enthusiasm for the technology.
The report also shed light on how the 3D printing powder market is likely to develop in different regions across the globe, with North America being highlighted as the most dominant region in the 3D printing powder market and the Asia-Pacific region remaining the second-highest growing market. The independent findings identified some of the most powerful companies involved in the global 3D printing powder market, such as Sandvik Materials Technology (Sweden), GKN Hoeganaes Corporation (U.S.), Carpenter Technology Corporation (U.S.), LPW Technology Ltd. (U.K.), Arcam AB (Sweden), and Erasteel Kloster AB (Sweden), among others.
Posted in 3D Printing Materials
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