Thanks to 3D printing, the terms innovation and strategy have acquired a new dimension all together. Also known as additive manufacturing, the 3D printing technique is used mainly in end-user industries such as aerospace and defense, medical and automotive, among others, with the aerospace and defense industry being the largest user of 3D printing, followed by the automotive. It is also proving to be an asset to the medical industry, as it can be used in various types of implants and other surgical operations. In addition, powder printers are widely used today, mainly due to their characteristics such as durability and high compressibility, which triggers the growth of the 3D printing powders market.
Key Opportunities and Drivers
Advances in technology, an increased focus on new product launches and investments in powder printing R&D, the easy availability of metallic and non-metallic powders, and the expiration of patents are expected to further enhance the growth of the market. Aerospace and defense is the main end user of 3D printing powder, mainly titanium, which is in high demand from major aircraft manufacturing companies to manufacture jet engines and other engine components. Apart from this, titanium is also being used to perform medical surgeries that may not be possible with traditional methods and equipment. The Asia-Pacific market sees great potential due to the growing manufacturing sector, and it is also likely to drive demand for 3D printing technology in the near future. Overall, the 3D printing powder market is expected to see steady growth in the coming years.
The market at a glance
Growing at a CAGR of 24.4% over the projected period, the global 3D printing powders market value is projected to reach around $ 5.0 million from $ 213.3 million by the end of 2020. Currently, North America North is the largest market for 3D printing. dust, followed by Asia-Pacific and Europe. Since Europe is one of the main centers for powder metallurgy manufacturing, companies here are investing more and looking for expansions for future developments in this market. The market in Asia Pacific is expected to advance to a higher CAGR during the forecast period, compared to other regions.
Among applications, the aerospace and defense industry had the largest market share in 2015, followed by the automotive and medical and dental sectors. Also, among the powder type, metal powder took the largest share and will also be the fastest growing type in this segment.
The main giants operating in the global 3D printing powder market are Sandvik Materials Technology (Sweden), GKN Hoeganaes (USA), Carpenter Technology Corporation (USA), LPW Technology Ltd. (UK), Arcam AB (Sweden) and Erasteel Kloster AB (Sweden), among others.
Market segmentation
The global 3D printing powders market has been analyzed and forecast dividing it into the following segments:
• End user: aerospace and defense, automotive, medical and dental, others
• Type: Metal Powder, Ceramic Powder, Plastic Powder, Others
• Geography: North America, Europe, Asia-Pacific, RoW.