Additive Manufacturing With Metal Powders Market Analysis

Additive Manufacturing With Metal Powders Market Analysis

The powder bed manufacturing technique was around USD 298 Million in 2021 and is projected to grow at a CAGR of 21.5% over the forecast period owing to growing application in automotive and aerospace industries attributed to lower production cost and a broad range of material selection. Growing use in functional prototyping, commercial production of manufacturing production parts, and thermal control systems should stimulate the additive manufacturing with metal powders market growth over the forecast timeframe.
 

Direct Metal Laser Sintering (DMLS) manufacturing technique surpassed USD 271.5 million in 2021 and is projected to show a substantial CAGR of 22% through 2030. Design freedom for DMLS results in accurate metal components in less time compared to other manufacturing methods, thus, propelling the market growth. Selective Laser Melting (SLM) manufacturing technique is primarily used for manufacturing of tools for the injection moulding process owing to its low cost. 
 

Electron Beam Melting (EBM) method of powder bed produces complete dense metallic parts directly from metal powder with characteristics of the target material. As compared to other techniques, the EBM method has a generally superior built rate due to higher energy density and scanning method. The advent of controlled vacuum technology improves the entire build cycle and build environment driving technology demand in production.
 

Precious metal material is projected to cross USD 475 million by 2030 and is projected to grow at a CAGR of over 12% during the forecast period. Precious metals including gold, silver and platinum are used in additive manufacturing to produce jewellery and watches with the help of a laser sintering process. This technology help manufacturers to design and produce lightweight ornaments with less wastage of materials, thereby favouring the market growth. Additive manufacturing provides ultimate flexibility for designers in terms of styling and structure.
 

Platinum material surpassed USD 58 million in 2021 and is projected to show a CAGR of 11.5% in the forecast period. Increasing use of platinum in laboratory equipment, catalytic converters, platinum resistance thermometers, electrical contacts & electrodes, dentistry equipment, and jewellery is projected to favour the growth during the forecast period. Additionally, the growing use of other precious metals such as gold and silver in making ornaments is projected to boost the additive manufacturing with metal powders market sales over the projected period.
 

The aerospace application in the additive manufacturing with metal powders market was around USD 131.5 million in 2021 and is projected to exhibit a CAGR of 22% over the analysis period. Additive manufacturing with metal powder is used in the production of high-tech aircraft components owing to its properties such as maximizing performance, improving reliability & fuel efficiency, and reducing lead time. High flexibility allows to produce lightweight components and reduce fuel emissions, further driving the market growth.
 

This technology is extensively used in the manufacturing of various high-tech aircraft components for jet engines, turbine parts, fuselages, landing gear and cabin interior components. It prints solid objects with the help of a digital file by applying one layer of material on top of another thereby allowing manufacturers to design complex aircraft structures and shape easily.
 

North America additive manufacturing with metal powders market is projected to cross USD 680.2 Million by 2030 and is predicted to grow at a CAGR of over 20.5% during the forecasted period. Well-established medical sector and strong presence of many medical device manufacturers such as Johnson & Johnson, 3M Company, Medtronic, and Abbott are supporting the market growth in North America.

Growing health concerns among the aging population, rising prevalence of chronic disease, and stringent regulations for the medical device industry, should drive market growth. Increasing concerns regarding sports-based facial injury and dental implants have promoted the usage of additive manufacturing in the medical sector. The presence of companies engaged in adopting additive manufacturing to gain a competitive advantage and achieve design freedom will boost product demand over the projected period.