Additive Manufacturing (AM) with Metal Powders Market to Exceed Valuation of USD 72.44 Billion by 2030

Market Overview:

The market for additive manufacturing with metal powders had a value of USD 42.52 billion in 2021 and is projected to achieve a revenue compound annual growth rate (CAGR) of 6.0% during the forecast period. The growth of the market is primarily driven by factors such as increasing demand from the aerospace and automation industries and a growing focus on technological advancements in the medical industry. Additive manufacturing, also known as 3D printing, is an industrial version of this technology that uses 3D modeling software, machinery, and layering material to produce 3D objects. Metal additive manufacturing involves adding material throughout the production process to create metallic components, typically layer by layer. This technology has experienced significant growth, particularly in the aerospace industry, due to its potential for commercial and performance benefits. The advantages of metal additive manufacturing in aerospace applications include cost and lead-time savings, the ability to use novel materials and innovative design approaches, mass reduction through lightweight designs, and the consolidation of multiple components for improved performance or risk management. Various high-profile aerospace applications, such as liquid-fuel rocket engines, propellant tanks, satellite components, heat exchangers, turbomachinery, valves, and maintenance of existing systems, are already leveraging these opportunities.

Get a sample copy of the additive manufacturing with metal powders market report: https://www.reportsanddata.com/download-free-sample/1296

Emerging Trends: One of the recent trends in the market is the increasing use of Electron Beam Melting (EBM), which is a distinctive additive manufacturing process. EBM technology has been widely adopted for producing complex aerospace and automotive parts, such as turbocharger wheels, pump impellers, and turbine blades. It is also expected to gain significant popularity in the aerospace and healthcare sectors. Another emerging trend is the use of Direct Metal Laser Sintering (DMLS), which is a recent technology in metal manufacturing. DMLS enables the creation of cost-effective, high-quality, and versatile products to meet the evolving needs of consumers. Additionally, many companies in the metal powder additive manufacturing market are focused on reducing product cycle times to improve the development process. Direct metal procurement is currently being utilized by the majority of aircraft industries.

Market Dynamics: Driver: The increasing adoption of automation in production processes is a key factor driving the growth of the market. Additive manufacturing provides a disruptive strategy that reduces manufacturing time, enhances operational flexibility, and enables the production of customized auto parts and vehicle products on demand. This technology gives businesses in the automation sector, including robotics and automobiles, a significant competitive advantage. Additive manufacturing accelerates innovation and time to market as it requires minimal setup and eliminates the need for tooling when producing prototypes and small quantities of goods. By utilizing additive manufacturing to produce spare parts and tools, facilities can reduce storage space requirements and administrative support, leading to lower overhead and ongoing resource costs. Additionally, additive manufacturing only uses the materials necessary to construct the desired shape, unlike subtractive manufacturing, where producers have to pay for raw materials that are later discarded.

Restraint: The market growth is hindered by technological limitations, post-processing requirements, and time constraints. Post-processing is necessary in additive manufacturing to address surface finish and dimensional accuracy issues that may be inferior to those achieved through conventional manufacturing processes. Despite additive manufacturing technology being available since the 1980s, it is still considered a specialized technique due to its relatively slow build rates and limited scalability for producing large quantities of parts. Manufacturing a shape that could be produced in seconds using conventional techniques can take several hours with additive manufacturing, depending on the desired final output. Achieving economies of scale is also challenging with additive manufacturing.

Product Insights: The global additive manufacturing with metal powders market is segmented based on product into plastic, metal, and alloy.

Additive Manufacturing (AM) with Metal Powders Market: Drive factors

The additive manufacturing with metal powders market is driven by several key factors. Here are some of the main drivers:

1.      Rising demand from the aerospace industry: The aerospace industry has been a significant driver of the additive manufacturing with metal powders market. The aerospace sector requires lightweight, durable, and complex components, which can be efficiently produced using metal additive manufacturing. This technology allows for the production of intricate designs with reduced weight, improved performance, and cost savings. The aerospace industry's focus on commercial and performance gains has propelled the adoption of metal additive manufacturing.

2.      Growing focus on technological advancements in the medical industry: The medical industry is increasingly adopting metal additive manufacturing for the production of customized medical implants, prosthetics, and surgical instruments. Metal additive manufacturing enables the production of patient-specific implants, improving the fit and functionality of medical devices. The ability to create complex geometries and intricate structures with biocompatible materials has opened up new possibilities in the medical field.

3.      Increasing instances of automation production: The trend of automation in various industries, including robotics and automotive, is driving the demand for additive manufacturing with metal powders. Additive manufacturing offers advantages such as reduced manufacturing time, increased operational flexibility, and the ability to produce custom-designed vehicle products on demand. This disruptive technology gives businesses in the automation sector a competitive advantage by speeding up innovation, reducing setup time, and eliminating the need for tooling in prototyping and small-batch production.

Overall, the demand for additive manufacturing with metal powders is driven by the need for advanced, lightweight, and cost-effective solutions in industries such as aerospace, medical, automotive, and automation. The continuous advancements in technology and the ability to produce complex designs are further fueling the market growth.

Explore Trending Reports:

Battery Materials Market:   https://www.reportsanddata.com/report-detail/battery-materials-market

Double Sided Tape Market:            https://www.reportsanddata.com/report-detail/double-sided-tape-market

Sizing Agents Market:          https://www.reportsanddata.com/report-detail/sizing-agents-market

Translucent Concrete Market:       https://www.reportsanddata.com/report-detail/translucent-concrete-market

 

Request a customization of the report: https://www.reportsanddata.com/request-customization-form/1296

Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.

About Reports and Data    

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact:

John W, Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs

Comments

Post a Comment

Popular posts from this blog

Benzyl Alcohol Market Size Worth USD 397.6 Billion 2032| CAGR of 5.8%

According to a recent report by Reports and Data, the global benzyl alcohol market is expected to reach a size of USD 397.6 Billion by 2032 with a revenue CAGR of 5.8% during the forecast period. The increasing demand for benzyl alcohol for skin medication and its adoption in paints and coatings are some of the key drivers of market revenue growth. Benzyl alcohol is used in a wide range of applications, including inks and polishes, as it eliminates unpleasant odors and provides a mild scent. It is also used to improve the texture and consistency of products, which has increased its demand. Furthermore, benzyl alcohol is a degreasing agent and a bonding agent, which is driving the growth of the market. The adoption of benzyl alcohol in paints and coatings is also expected to contribute to revenue growth. Benzyl Alcohol Market: Notable Innovation There have been no recent notable innovations specifically in the benzyl alcohol market. However, some companies are focusing on developin...
Read more

Wax Market Size Worth USD 10.75 Billion 2032| A CAGR of 5%

Market Overview: The global wax market had a value of USD 10.75 Billion in 2022 and is projected to reach USD 16.68 Billion by 2032, with a forecasted revenue Compound Annual Growth Rate (CAGR) of 5% during the forecast period. One of the significant contributors to the growth of the wax market is the packaging industry. Wax is employed as a coating on packaging materials to enhance their quality and durability. Increased demand for packaged food and beverages, consumer goods, and pharmaceuticals has led to higher utilization of wax in packaging, driving market revenue growth. The candle sector is another crucial factor boosting revenue growth in the wax market. Various types of wax, such as paraffin, beeswax, and soy wax, are used in candle production. The demand for wax in the candle industry has risen due to increased interest in decorative and scented candles for occasions like festivals, weddings, and birthdays. Moreover, the market has seen an uptick in the demand for natura...
Read more

Pressure Sensitive Adhesives Market Size to Surpass USD 72.58 billion by 2032

Market Overview: The global pressure-sensitive adhesives market reached a size of USD 13.20 Billion in 2022, and it is projected to experience a revenue compound annual growth rate (CAGR) of 5.1% throughout the forecast period. The rising popularity of pressure-sensitive adhesives is attributed to their simplicity of application and cost-effectiveness compared to conventional attachment systems, driving the market revenue growth. Pressure-sensitive adhesives, also known as self-adhesive or self-stick adhesives, are a significant category of adhesive tapes. They are thin and flexible substances with single or double-sided coatings that adhere firmly to most clean, dry surfaces without requiring heat, solvent, or water. This ease of application is a key factor contributing to the market's growth. Get a sample copy of the Pressure Sensitive Adhesives Market report, visit: https://www.reportsanddata.com/download-free-sample/1629 Market Dynamics: Drivers: Emergence of pres...
Read more