Additive
manufacturing with metal powders market share is depicting immense traction
majorly due to the increasing usage of 3D printing and prototype mechanisms for
economical and reliable product development. With technological development
there has been increasing innovation in 3D printing industry. Several 3D
printing software have been launched to support the changing industry demands.
Most of the
companies are upgrading their design perspective in order to enhance production
and validation with the help of prototypes. At present, many companies across
different end-use domains have implemented the technology on a large scale and
with constant technological developments to meet the changing demand, the
industry participants are carrying out innovations in 3D printing.
Several
benefits offered by the technology include development of lighter, highly
complex designs that may be expensive or difficult to design with the use of
conventional dies, molds, and milling. Additionally, it also ensures
time-saving, weight savings and allows alterations on the run. In terms of
application spectrum, the global 3D printing with metal powders industry is classified
into aerospace, medical, automotive, oil, and gas.
Aerospace
sector is poised to emerge as a lucrative application segment in additive
manufacturing with metal powders market. The rise in disposable income among
people has led to increased air travel across the globe for leisure holidays,
business or medical services. Growing deployment of airplanes for commercial
and defense use has propelled aircraft production over time. The use of 3D
printing in the production of turbine parts, engines and interiors will support
the industry trends.
Reportedly,
more than 20% of the aerospace engineering companies use the technology to
produce tooling elements. The market participants are constantly aimed at
reducing the weight of the aircraft which helps in fuel efficiency and reduces
operating costs. Rising use of lightweight materials such as titanium,
stainless steel, copper and aluminum ensures weight reduction in airplanes.
Surging use of
these technologies in aerospace industry companies has led to increased
investment in the research and development in the sector, focusing on
minimizing the cost of models and prototype development. Additive manufacturing
with metal powders market size from oil and gas applications is poised to be
valued at more than USD 45 million by 2024.
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The use of
additive manufacturing technology in the production of complex parts such as
gears, pipeline rings, nozzles, impellers, sealing accessories and control
valves will boost the technology penetration over the years. Moreover, there is
a rising need to control the GHG emission levels, reduce cost and improve
performance of the components across the oil and gas sector.
Aluminum alloys
segment is estimated to showcase widespread gains of more than 27% over the
forecasted timeframe. Parts made from aluminum powder are extensively used in
automotive, general engineering and motor racing owing to rigid and lightweight
characteristics. Durability, corrosion resistance, and welding capabilities are
some of the pivotal aluminum alloy properties that make the product suitable
for automobile industry applications.
Regionally,
U.K. additive manufacturing with metal powders market demand is slated to
witness growth of more than 25% over the projected period. High disposable
income has led to development across several critical sectors of the economy.
Rapid adoption of 3D technology in the region especially in the automobile
industry will supplement additive manufacturing with metal powders market
outlook across the region.
The presence of
a robust automotive sector in U.K. and high purchasing power among the people
will steer developments and innovations in the industry. Electron Beam Melting
(EBM) and Laser Engineering Net Shape (LENS) technologies are notably used in
the region to develop complex geometrical parts of automobiles and
aircraft.
Few advantages
associated with the use of Electronic Beam Melting 3D printing method include
minimum material wastage, reduction in oxidation owing to a vacuum environment,
low set up cost and geometric freedom for product designers. LENS facilitates
the ability to create a fully dense shape, functionally graded material
deposition and closed-loop control of process.
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Connect with us twitter | LinkedIn | Facebook | Google+
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