The global 3D printing powder market is prognosticated to experience a significant growth in the forecast period from 2017 to 2025. As far as the vendor scenario of the 3D printing powder market is concerned, it is densely packed with various organizations that manufacture powders conventionally for regular industrial procedures, for example, metal injection moulding (MIM), hot iso-static pressing (HIP), and powder sintering (PS).
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With the rising number of applications of for 3D-printed items the global 3D printing powders market is foreseen to grow at a robust pace offering a huge scope to local players and new entrants to progress in the coming years. Some of the major organizations in the market are Advanced Powders and Coatings Inc., Arcam AB, Metalysis, GKN plc, Hoganas AB, Carpenter Technology Corporation, Arkema, Sandvik AB, Ltd., LPW Technology Ltd.
According to a recent report by Transparency Market Research (TMR), with proactive investment strategies and geographical expansion methods, organizations working in the 3D printing powders market can profit from the regional and local markets in the near future. As indicated by the report, the worldwide 3D printing powder market was worth of US$313.7 mn in year 2016. This figure is estimated to reach around US$1,558.9 mn by the end of year 2025, depicting a noteworthy CAGR of 20.3% during the forecast period from 2017 to 2025.
Among several end-users, the aerospace and defence sector is a dominant one in the 3D printing powder market. Airbuses, missiles, and engine parts are the major application of 3D printing powder in the defence and aerospace industry. Geographically, the 3D printing powder market is dominated by North America region. It held around 38% of the overall market shares in terms of revenue in 2016.
Rise in Additive Printing Technology to Fuel 3D Printing Powder Market Growth
The enormous rise in the use of additive printing technologies for manufacturing items that have a varied usage in the past few years is one of the main driving factors in the market. Use of 3D-printed items in various industries such as healthcare, defence, medicine, consumer goods, energy, electronics, automotive, and aerospace is also boosting the revenue in the market. Relentless growth of these industries and progress in 3D printing as far as dependability, finish, and qualitative value of the finished product is concerned is boding well for 3D printing powder market.
Increased Focus on R&D Activities to Boost Market Demand for 3D Printing Powder
Owing to increased number of 3D-printed items, their market is getting majorly boosted. Enhanced focus of organizations on innovative work activities regarding research and development, along with the aim of launching creative, technologically advanced, and distinct products to suit the need of different applications are also helping the market progress at a significant speed.
Efforts are being made by organizations such as OpenSLS and Metalbot with a specific end goal to manufacture more affordable desktop metal printers, which is anticipated to fuel the market over the coming years. Expanding scope of metals powders that are affordable is predicted to drive the market for 3D printing powder too.
The study presented here is based on a report by Transparency Market Research (TMR), titled, “3D Printing Powder Market (Product – Plastics, Metal (Stainless Steel, Cobalt, and Nickel), and Ceramic; Application – Automotive, Aerospace, and Pharmaceutical) – Global Industry, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
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