A snapshot of the global metal powders market for AM
A Transparency Market Research report, the market valuation for global metal powders for AM will rise substantially to become US$1,783.9 mn by 2025-end.
According to a Transparency Market Research report, the global metal powders market is booming.
The additive manufacturing market is seeing greater demands for metal powders from a range of end-use industries such as aerospace and automotive.
Metal powder manufacturers are forming partnerships and strategic alliances with original equipment manufacturers (OEMs) of several end-use industries in an attempt to capitalize on the uptick in the market and push the boundaries of this technology.
As AM tech advances, the market will see a growing demand for advanced materials such as titanium, which will boost the overall outlook.
One of the biggest challenges for this market is the high cost of metal powders — metal powders used in additive manufacturing is higher than the cost of their raw materials. Nevertheless, increasing demand for additive manufacturing technology due to its advantage of unrivalled design freedom is expected to bode well for the metal powders in additive manufacturing market.
The report forecasts the global metal powders for additive manufacturing to expand at a robust 22.4% CAGR over the forecast period of 2017 to 2025. At this pace, the market’s valuation of US$310.6 mn in 2016 will rise substantially to become US$1,783.9 mn by 2025-end.
The report studies the global metal powders for additive manufacturing market on the basis of four categories, viz. manufacturing technique, application, material type, and region.
Based on manufacturing technique, the segments into which the metal powders for additive manufacturing market is divided are powder bed, blown powder, and others. And of these segments, powder bed held the leading market share in 2016.
In terms of material type, the metal powders for additive manufacturing market has been segregated into alloy, stainless steel, other steel, and others. Based on revenue, the alloy segment held the leading more than 70% of the market in 2016.
In terms of applications, out of 3D Printing, Rapid Prototyping, and Direct Digital Manufacturers, 3D Printing accounted for more than 70% market share in 2016.
In terms of regions, North America dominated in 2016 holding more than 35% of the overall market; going ahead, the region is anticipated to lead amongst other key regional segments over the forecast period.
The report profiles leading players in the global metal powders for additive manufacturing market, namely GKN Plc., Rio Tinto, Hitachi Chemical Co. Ltd., ATI Powder Metals, Sandvik AB, Renishaw plc, Praxair Technology Inc.,Arconic Inc., Miba AG, Hoganas AB, Metaldyne Performance Group Inc., BÖHLER Edelstahl GmbH & Co KG, Carpenter Technology Corporation, and Aubert & Duval.