Metal Powders for Additive Manufacturing Market: Global Industry Analysis and Forecast (2024-2030)

The Metal Powders for Additive Manufacturing Market size was valued at USD 1.10 Billion in 2023 and the total Metal Powders for Additive Manufacturing revenue is expected to grow at a CAGR of 8.98% from 2024 to 2030, reaching nearly USD 2.01Billion by 2030.
Metal Powders for Additive Manufacturing Market Overview:
Additive manufacturing, is a game-changing technology, which is opening up new horizons for many markets. The fast-growing innovative technology leads to entirely new ways of designing and manufacturing complex parts. The technology is finding a new lease of life in industrial applications like tooling and end parts. The landscape is evolving rapidly as companies begin to adopt additive manufacturing in-house and new technologies emerge. A key factor driving the metal powders for additive manufacturing growth is the advancement of new applications for 3D printing, as companies continue to find areas where the technology adds value alongside traditional manufacturing methods. Additionally, large companies and corporations are entering in the market, bringing with them added investment and research. An increase in adoption of 3D printing is continuing to increase. The key industries at the forefront of adoption remain aerospace, medical and automotive.

The disruptive innovations have steeper adoption as implementation rates of technology accelerate. As the innovation in aerospace is accelerating, advancing frontiers at the component and product levels in manufacturing operations. Aerospace innovators are embracing 3D printing beyond prototyping and are aggressively pursuing new applications for the technology. Some leading aerospace manufacturers are already using additive manufacturing technology to fabricate jigs and fixtures, production tooling and final end-use parts for lightweight wing assemblies in small aircraft and unmanned aerial vehicles (UAVs).

Manufacturers across a broad spectrum of industries including Automotive, Aerospace, Manufacturing, and Healthcare are piloting and using 3D printing technologies. Educational and medical applications are also expected to witness significant growth. The additive manufacturing technologies have niche applications including arts and crafts, interior decoration, fashion accessories, footwear designs, jewelry designs, animation & gaming, customized footwear designs, furniture and modeling. An adoption of 3D printing is providing the opportunity to speed up new product development and time to market.

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Metal Powders for Additive Manufacturing Market Dynamics:
The evolving road to adoption: Metal powders for additive manufacturing

Additive manufacturing increases the speed and flexibility of production. The technology permits firms to respond quickly to supply disruptions without holding costly inventory of parts. Powder-based and near-net-shape technologies like additive manufacturing are labelled as recognized green technologies. It offers many sustainability advantages. Minimal waste, reduced inventories and fewer process steps are some of the benefits of the Additive manufacturing. The ability of a U.S. manufacturer to 3D-print a technically-advanced component for one lead firm and then pivot to make a totally different component are factors that driving U.S. supply chains more resilient. Additive technologies help to reduce part lead times by as much as 90%, slash materials cost by 90%. An increase in focus on the modernization of space missions and the resiliency of space capabilities is expected to drive the market growth in North America. The United States and other countries are increasing investments in research, technology, and commercial services and shifting organizational strategies to improve the resiliency of their space capabilities and capacities. High investments and organizational changes are expected to continue and the deployment of new military space concepts have to be increased in the market.

Large manufacturers have an invested interest in encouraging additive manufacturing in smaller firms in their supply chains. U.S. manufacturers have come together and formed a public, voluntary agreement as an AM Forword to help their suppliers adopt additive manufacturing. The initial original equipment manufacturer (OEM) participants are General Electric Aviation, Honeywell, Siemens Energy, Raytheon Technologies, and Lockheed Martin. OEMs are working directly with their U.S.-based suppliers to demonstrate clear demand for additively-produced parts.

Key players are gradually stepped up their investment in innovations and marketing. The Metal Powders for additive manufacturing market growth is expected to grow by customized solutions, which is based on the end user. Some of the prominent key players are focusing on the innovation’s activities and resources on the technology development and high production capacity. For Instance, GE Additive has become a strategic partner in its Binder Jet beta partner program to become a certified powder supplier that complement GE Additive. As awareness of the costs of supply chain disruptions has increased, many start-ups are acting to increase their resilience. AM Forward represents a useful new model of resilience, because it promotes both OEM/supplier collaboration and additive manufacturing techniques that dramatically cut lead time.

Barriers To Adoption:

Low aerospace volumes make 3D printing an attractive, lower-cost substitute, which helps to replace conventional CNC machining and other tooling processes for smaller-scale parts. 3D printing poses a competitive threat to slow adapters wedded to status-quo methods for prototyping, tooling and custom part production. Despite widespread interest, the biggest barriers in implementing the new manufacturing revolution are internal breaking down status-quo. The existing processes and behaviours are hard to change and manufacturing without a traditional factory is unrealistic. The accelerated adoption of 3D printing in specific industries like aerospace and a general spread of the use of technology as designers and engineers expand. The unlocking investment capital and resources to learn and adopt new design and manufacturing techniques is difficult for some aerospace original equipment manufacturers (OEMs) and suppliers, who are locked into a quarterly driven revenue cycle and budgets.

Industrial revolution 4.0 proving lucrative for the metal powder additive manufacturing:

The emergence of Industry 4.0 for process control is propelling demand for metal powder additive manufacturing because of their efficient process control and enhanced performance. The disruptive technologies have introduced at an unprecedented rate in the manufacturing sector, which are driving the industry 4.0 revolution. Most companies are using advanced technologies for near-term business operations rather than truly transformative opportunities. A growing number of digital industrial companies are looking forward by viewing their internally focused, efficiency-driven transformations as a stepping stone to future growth. organizations can view their productivity-focused transformations as a set of training wheels when seeking new opportunity, finding and training new talent & defining agile ways of working. Despite the metal powders are not a primary energy source like petroleum, a storage medium for energy sources like nuclear or hydroelectric, which would be used to refine the metals into a pure form.

The metal powders are used for external combustion or heat engines like steam engines. Metal powders could be a handier alternative to fossil fuels. A small reduction in fuel consumption have impacted significantly on the overall freight cost in the transportation industry. It operates on small profit margins. An integration of the platooning in the trucking industry can help to reduce fuel cost incurred by vehicle manufacturers and transportation service providers. Truck platooning also helps to increase revenue and it ultimately delivers the benefits to the customers in the form of low cost of traveling or low cost of goods.

Additionally, truck platooning offers vehicle utilization, lower crash cost, reduction in thefts, and reduced repair and maintenance cost. It also helps to predict and avoid machine failure by combining data from advanced Internet of Things (IoT) sensors and maintenance logs and external sources.

Metal powders for additive manufacturing market regulations:

1. In the North America, In 2017, the Food and Drug Administration (FDA) issued guidance for additive manufactured medical devices, including recommendations for testing of devices that include at least one additively manufactured component or additively fabricated step. FDA has drafted an initial framework that outlines a range of potential manufacturing. FDA’s CDRH is developing a conceptual framework with different scenarios for regulating 3DPOC devices and their designers, manufacturers, and users. CDRH regulations require a self-certification procedure pursuant to which a manufacturer must submit a filing to the CDRH with respect to each product incorporating a laser. They also have to make periodic reports of sales and purchases, and comply with product labeling standards, product safety and design features and informational requirements. The CDRH is empowered to seek fines and other remedies for violations of their requirements.

2. In Europe, the region has specific legislation for the use of 3DP for manufacturing of medical devices. During COVID-19, the government has issued special guidelines on using 3D printing. Key players operating in the European market are making products under the EU COVID-19 guidelines for 3DP medical devices.

3. In India, The standardization is a key concern. International Standards Organization (ISO) is currently developing a standard on 3D printing: IEC CD 23510. It has created a framework on 3DP called the additive Manufacturing Standards Structure. ISO already has various standards on additive manufacturing, some of which have been developed while others are under development. Currently, India has only some sector-specific laws, such as in medicine, which can be interpreted to include 3D printing. India’s Drugs and Cosmetics Act, 1940 does not specifically include such 3D printed objects but the Ministry of Health and Family Welfare expanded the definition of ‘drugs’ under the Act. In the healthcare sector, Transplantation of Human Organs and Tissues Act, 1994 deals with transplantation of organs from a person-donor, transplanting a 3D printed organ/gland beyond the scope of regulation act. The laws must be amended to include 3D printed organs.
Metal Powders for Additive Manufacturing Market Segment Analysis:
Based on the Application segment, the global Metal Powders for Additive Manufacturing industry is segmented by 3D Printing, Rapid Prototyping, Direct Digital Manucturing. 3D Printing segment have 717.78 Million market size in the year 2023 and is expected to grow at a CAGR 8.56% during the forecast period. The increasing adoption of 3D printing across various industries, such as aerospace, automotive, and healthcare, is a significant driver. These sectors benefit from the ability to produce complex and lightweight components, customized implants, and high-performance parts. Technological advancements in 3D printer capabilities and the development of new metal alloys enhance the efficiency and cost-effectiveness of the process. Additionally, 3D printing offers substantial cost savings and material efficiency by reducing waste and production time. The design flexibility and ability to create complex geometries cater to the growing demand for lightweight, high-strength components. Increased investments from governments and the private sector in additive manufacturing technologies, along with the expansion of global manufacturing capabilities, support this growth. Collectively, these factors contribute to the robust expansion of the 3D printing segment within the metal powders for additive manufacturing market.
Metal Powders for Additive Manufacturing Market Regional Insights:
North America's substantial 32.35% share in the global metal powders for additive manufacturing market in 2023 can be attributed to several key factors. The region's technological leadership, driven by significant investments in R&D, advanced manufacturing facilities, and a skilled workforce, plays a crucial role. Industry adoption in sectors like aerospace, defense, automotive, and healthcare further boosts demand, with key players like Boeing, Lockheed Martin, Ford, General Motors, and Tesla extensively utilizing 3D printing technologies. The presence of major market players like 3D Systems and Stratasys, along with numerous collaborations and partnerships, strengthens the market.

Additionally, supportive government policies, favorable regulations, and significant defense contracts encourage the adoption of advanced manufacturing technologies. North America's robust economic environment, access to capital, and venture funding enable substantial investments in state-of-the-art additive manufacturing technologies. Leading universities and research institutions also contribute to innovation and knowledge dissemination in the field. These factors collectively underpin North America's dominant position in the global metal powders for additive manufacturing market and its continued growth during the forecast period of 2023-2030.



Metal Powders for Additive Manufacturing Market Key Findings:

Additive production offers a transformative opportunity for U.S. Production and innovation, revolutionizing industries from aerospace to healthcare. This era permits the production of robust, light-weight products and designs previously not possible with conventional strategies, probably enhancing energy performance in transportation and improving citizen well-being. To harness those benefits, developing economies should integrate additive manufacturing throughout all sectors, inclusive of defense, requiring huge understanding and funding. Companies ought to awareness on reducing costs by leveraging technological improvements and automating methods. Additionally, integrating additive manufacturing into the digital system chain, establishing strong standards, and improving high-quality guarantee methods are crucial steps. Key players and governments ought to incentivize collaboration and standardization efforts to power big adoption and preserve the U.S.'s leadership in this area. Our metal powders for additive manufacturing market report delves into these insights and more, providing a comprehensive analysis to position investors at the forefront of this innovative industry.
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Global Metal Powders for Additive Manufacturing Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 1.10 Bn.


Forecast Period 2024 to 2030 CAGR:
8.98%
Market Size in 2030:
US $ 2.01 Bn.


 Segments Covered:
by Application
3D Printing
Rapid Prototyping
Direct Digital Manucturing


by Manufacturing Technique
Powder Bed
Blown Powder
Others


by Material Type
Alloy
Stainless Steel
Others



Metal Powders for Additive Manufacturing Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Leading Metal Powders for Additive Manufacturing Market, Key Players:
1. Arconic Inc.
2. ATI Powder Metals
3. AUBERT & DUVAL,
4. BÖHLER Edelstahl GmbH & Co KG
5. Carpenter Technology Corporation
6. GKN Plc.
7. Hitachi Metals, Ltd.
8. Hoganas AB
9. Matsuura Machinery Corporation
10. Metaldyne Performance Group Inc
11. Miba AG
12. Praxair Technology Inc.
13. Renishaw plc.
14. Rio Tinto
15. Sandvik AB
16. Shaanxi Hengtong Intelligent Machine Co., Ltd
17. 3D Systems Corporation

FAQs:
1. What are the growth drivers for the Metal Powders for Additive Manufacturing market?
Ans. Metal additive manufacturing is increasingly used in the medical and dental fields to produce customized implants, prosthetics, and surgical instruments. The ability to create patient-specific solutions with improved biocompatibility and performance is driving market growth.

2. What are the factors restraining the global Metal Powders for Additive Manufacturing market growth during the forecast period?
Ans. Volatile Prices of Raw Materials is expected to be the major factors restraining the global Metal Powders for Additive Manufacturing market growth during the forecast period.

3. Which region is expected to lead the global Metal Powders for Additive Manufacturing market during the forecast period?
Ans. North America is expected to lead the global Metal Powders for Additive Manufacturing market during the forecast period.

4. What is the projected market size and growth rate of the Metal Powders for Additive Manufacturing Market?
Ans. The Metal Powders for Additive Manufacturing Market size was valued at USD 1.10Billion in 2023 and the total Metal Powders for Additive Manufacturing revenue is expected to grow at a CAGR of 8.98% from 2024 to 2030, reaching nearly USD 2.01 Billion by 2030.

5. What segments are covered in the Metal Powders for Additive Manufacturing Market report?
Ans. The segments covered in the Metal Powders for Additive Manufacturing market report are Application, Material Type , Manufacturing Technique and Region.