Metal 3D Printing Market Report
Metal 3D Printing Market by Component (Hardware, Software, and Services), Technology (Selective Laser Sintering, Inkjet Printing, Direct Metal Laser Sintering, Laminated Object Manufacturing, Electron Beam Melting, Laser Metal Deposition, Electron Beam Freeform Fabrication, and Selective Laser Melting), Software (Design Software, Inspection Software, Scanning Software, and Printer Software), Application (Prototyping, Functional Parts, and Tooling), Printer Type (Desktop Metal 3D Printer and Industrial Metal 3D Printer), Vertical (Desktop and Industrial), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Metal 3D Printing Overview
A cutting-edge technology called metal 3D printing, sometimes referred to as metal additive manufacturing, makes it possible to produce intricate metal pieces straight from a digital design. Many industries, including aerospace, automotive, healthcare, and manufacturing, are being revolutionised by it. A laser is used in 3D printing metals to fuse metal particles. Aluminium, steel, titanium, cobalt chrome, nickel, gold, silver, and other metals can all be used in it. Some of these metals are more difficult to form than others, and they all have various qualities and uses. The majority of metals used in 3D printing use powders, which can be costly, dangerous, and cause shrinkage. Some 3D printers can, however, produce metal components from molten metal alloys, which are more accessible and secure.
Global Metal 3D Printing Market Analysis
The global metal 3D printing market size was $6.4 billion in 2022 and is predicted to grow with a CAGR of 24.4%, by generating a revenue of $56.5 billion by 2032.
COVID-19 Impact on Global Metal 3D Printing Market
Global supply networks were interrupted by the pandemic, which caused shortages and delays in conventional production procedures. By enabling localised production, metal 3D printing provided a remedy. The pandemic's repercussions exposed the weaknesses in the world's supply chains. Localised production, which lessens reliance on global supply chains, is a benefit of metal 3D printing. Localised manufacturing capabilities may be a post-pandemic business priority, and metal 3D printing might be a key component of achieving this.
Design Freedom and Complexity to Drive the Market Growth
Using metal 3D printing, it is feasible to create detailed shapes and very complicated geometries that are difficult or impossible to produce using conventional manufacturing techniques. Engineers and designers are able to reduce product weight and produce novel shapes and structures because of this design freedom. Rapid prototyping using metal 3D printing provides quicker design iterations and shorter development cycles. It cuts down on the time and expense involved with conventional prototyping techniques like making moulds or tooling.
Cost of Equipment and Materials to Restrain Market Growth
Compared to conventional manufacturing processes, 3D printing for metals might be an expensive investment. Metal 3D printers can be expensive, especially ones that can produce huge or intricate pieces. The adoption of metal 3D printing may be constrained by these high upfront expenditures and material costs, especially for smaller enterprises or industries with tighter budgets. To attain the necessary characteristics and surface quality, metal 3D printed objects frequently need post-processing operations including heat treatment, machining, polishing, and surface finishing.
Technological Advancements to Drive Excellent Opportunities
Many different industries, including aerospace, automotive, healthcare, and manufacturing, are using metal 3D printing more frequently. A deeper integration of metal 3D printing into current manufacturing processes is a possibility as the technology develops and gains wider acceptance. By combining metal 3D printing with more conventional manufacturing techniques, this integration may make it possible to streamline production processes and integrate the best aspects of both disciplines.
Global Metal 3D Printing Market Share, by Component, 2022
The hardware sub-segment accounted for the highest market size in 2022. Hardware plays a crucial role in the metal 3D printing market. This is because metal 3D printers are sophisticated machines that use various technologies namely powder bed fusion (PBF) or direct energy deposition (DED) that offers selective melt or fuse metal powder layer by layer for developing complex metal parts. Thus, the hardware is responsible for precisely controlling the printing process to ensure accurate and repeatable results.
Global Metal 3D Printing Market Share, by Technology, 2022
The selective laser sintering (SLS) sector accounted for the highest market size in 2022. SLS enables the creation of extremely intricate and complicated designs, which are challenging to realise using conventional manufacturing processes. SLS's layer-by-layer method makes it possible to produce intricate geometries, internal channels, and light structures.
Global Metal 3D Printing Market Share, by Software, 2022
The design software sector accounted for the highest market size in 2022. Design software solutions are developing to support the particular limitations and capabilities of 3D printing metal. By taking into account elements like support structures, temperature management, material utilisation, and build orientation, these tools assist in designing for additive manufacturing.
Global Metal 3D Printing Market Share, by Application, 2022
The prototyping sector accounted for the highest market size in 2022. Rapid prototyping is made possible by metal 3D printing because it drastically cuts the time needed to create usable prototypes compared to conventional manufacturing techniques. Implementing design iterations enables shorter time-to-market and quicker development cycles.
Global Metal 3D Printing Market Share, by Printer Type, 2022
The industrial metal 3D printer sector accounted for the highest market size in 2022. Comparing industrial metal 3D printers to conventional manufacturing techniques, more design freedom is available. They make it feasible to create sophisticated interior structures, complex geometries, and lightweight designs that are difficult or impossible to do using traditional methods.
Global Metal 3D Printing Market Share, by Vertical, 2022
The desktop sector accounted for the highest market size in 2022. Small enterprises, start-ups, educational institutions, and hobbyists can all use desktop metal 3D printers because they are often more economical than industrial-grade systems. These users can now afford to employ metal 3D printing due to the cheaper initial prices and ongoing expenses, which has increased market growth and adoption.
Global Metal 3D Printing Market Share, by Region, 2022
Asia-Pacific accounted for the highest market share in metal 3D printing industry in 2022. Asia-Pacific has a thriving manufacturing sector and is rapidly industrialising. To boost production, efficiency, and creativity, the area is seeing a transition towards advanced manufacturing technologies, such as metal 3D printing. The use of metal 3D printing has the potential to transform conventional production techniques and meet the rising demand for intricate and specialised metal components.
Competitive Scenario in the Global Metal 3D Printing Market
Partnership, technological advancements and geographic expansion are major strategies adopted by the companies functioning in the highly competitive global metal 3D printing market. For instance, in October 2022, AML3D, the leading Australia-based metal 3D printing company established a partnership with Boing aircraft manufacturer. With this partnership, AML3D will offer 3D printing of aluminum prototype airplane components to Boeing.
Some of the leading metal 3D printing market players are 3D Systems, Inc., Autodesk Inc., Arcam AB, EOS (Electro Optical Systems) GmbH, Optomec, Inc., ExOne, Renishaw plc., GE Additive, Matsuura Machinery USA Inc., and Materialise NV.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, and LAMEA
Segmentation by Component
Segmentation by Technology
Segmentation by Software
Segmentation by Application
Segmentation by Printer Type
Segmentation by Vertical
Key Companies Profiled
Q1. What is the size of the metal 3D printing market?
A. The size of the metal 3D printing market was over $6.4 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 24.4% during the forecast period.
Q2. Which are the major companies in the metal 3D printing market?
A. ExOne and Arcam AB are some of the key players in the global metal 3D printing market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Product development and geographic expansion are the two key strategies opted by the operating companies in this market.
Q5. Which companies are investing more on R&D practices?
A. ExOne and Arcam AB are the companies investing more on R&D activities for developing new products and technologies.