The world market for metal powders for additive manufacturing is forecasted to have a promising future. Owing to the augmented requirement for metal powders from quite a many end-user industries like automotive and aerospace. There is an effort by the metal power manufacturers to form a strategically important alliance with original equipment manufacturers or OEMs, as it is conveniently called so as to enhance performance, quality, and consistency of powders.
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Furthermore, increased need for advanced materials like titanium and advancement in the technology of additive manufacturing are forecasted to stimulate the for metal powders for additive manufacturing market .
Some of the prominent names that adorn the world market for metal powders for additive manufacturing Sandvik AB Hitachi Chemical Co. Ltd., Aubert & Duval, BÖHLER Edelstahl GmbH & Co KG, ATI Powder Metals, GKN Plc., Miba AG, Metaldyne Performance Group Inc., Rio Tinto, Arconic Inc., Hoganas AB, , Renishaw plc., Praxair Technology Inc., and Carpenter Technology Corporation amongst many others.
As per a market research report by Transparency Market Research, it has been forecasted that the world market for metal powders for additive manufacturing is, in all likelihood, to rise at a double digit CAGR of 22.4% during the forecast timeframe that extends from the year 2017 to 2025. Rising at such a fast pace, the valuation of the said market is expected to reach an amount of US$1,783.9 mn by the end of the year 2025 from a value of around US$310.6 mn in the year 2016.
North America to Lead the Market throughout the Forecast Period
The market research study delves into the global market for Metal Powders for Additive Manufacturing and its performance in the major regions of the Middle East and Africa, Japan, Asia Pacific except Japan, Latin America, North America, and Europe. The report makes an effort to comprehend the regional dynamics that are at play of the world market. It is forecasted that the region of North America is quite likely to remain the market leader for the world market for Metal Powders for Additive Manufacturing in the forthcoming years. Amongst all of these regions, North America dominated the market with 35% of the total market share in the year 2016 and the region is expected to continue with its regional supremacy over the timeframe of forecast too.
Another region that is estimated to offer a very high rate of growth is Asia Pacific for the world market for Metal Powders for Additive Manufacturing. It is indeed a very promising geographical category for the market players which are exploring various options and looking to dominate the said market in the forthcoming years.
Better Quality and Improved Ability of Corrosion Resistance to Stimulate Market Growth
Increasing demand for metal powders for additive manufacturing across various end-use industries like automotive and aerospace is mainly stimulating the market. These materials come with better quality and as such that is impacting the market positively as well. For example, growing usage of Titanium as metal powder is owing to the quality of Titanium to resist corrosion, exhibit high error resistance, and it also comes with high tensile strength. Apart from that, technological progress in the said industry is believed to be fuelling the growth of the industry.
There is, however, high cost that is associated with the said metal powder and such it is marring the growth of the said market.
The information shared in this review is based on a TMR report, bearing the title, “Metal Powders for Additive Manufacturing Market (Manufacturing Technique- Powder Bed (Direct Metal Laser Sintering, Selective Laser Melting, and Electron Beam Melting) and Blown Powder (Direct Metal Deposition and Laser Engineering Net Shapes); Material Type – Alloy (Titanium, Cobalt, Copper, Nickel, and Aluminum), Stainless Steel (Austenitic Steel, Martensitic Steel, Duplex Steel, and Ferritic Steel), and Other Steel (High Speed Steel, Tool Steel, and Low Alloy Steel); Application – 3D Printing, Rapid Prototyping, and Direct Digital Manufacturing) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025”
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