3-D printing metal market worth $776.8 million by 2020, says report

MarketsandMarkets, Pune, India, has published the report "3D Printing Metal Market by Form (Powder and Filament), by Type (Titanium, Nickel, Stainless Steel, Aluminum, Others), by Application (Aerospace & Defense, Automotive, Medical & Dental, Others), and by Region—Global Forecast to 2020.” The firm’s research indicates that the global market is expected to reach $776.8 million by 2020, at a CAGR of 31.5 percent during the period 2015 to 2020.

The 3-D printing metals market is expected to grow at a higher CAGR in the Asia-Pacific region as compared to other regions. Technological advancements, capacity expansion, new product developments, and expiry of key patents for powder-based selective laser sintering are factors influencing the overall demand.

The titanium metal segment is expected to dominate the global 3-D printing metal market, because the process has been widely adopted by the aerospace and defense industries, which use titanium and its alloys for engine components. These industries constitute more than one-third of the total 3-D printing metals end user market.

In the automotive, medical, and dental markets, availability of new materials for tooling and prototyping, demand for prosthetic and dental implants, and high investments for new product developments will contribute to the growth of 3-D printing of metals.

North America is considered the major regional market for 3-D printing of metals. It is where most research activities and new product developments have occurred. Asia-Pacific region remains the fastest-growing market, followed by North America and Europe.