Selbyville, Delaware According to Market Study Report LLC has added a new report on Additive Manufacturing with Metal Powders market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of Additive Manufacturing with Metal Powders market in tandem with its competitive terrain.
The additive manufacturing with metal powders market is expected to emerge as a lucrative investment avenue over the coming years as additive manufacturing becomes the go-to solution to produce complex components at more affordable costs with more sophistication. Today, additive manufacturing (AM) has already replaced convention methods of component creation across a plethora of industries.
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Already, the variety of materials that have been made available for metal-based AM systems are expanding continuously. Common materials such as stainless steels, aluminum, cobalt-chrome, nickel, and titanium alloys, are already in use throughout the field, with several machine manufacturers offering materials of their own.
This diverse variety of materials affords user a better possibility of selecting the correct material that can achieve the specifications required by the end-product. While not all the available materials can effectively be used in AM, in many cases, with the proper equipment, a metal powder can be qualified for a specific purpose.
The overall additive manufacturing with metal powders market is divided into segments according to manufacturing technique, material, application, and regional landscape. The manufacturing technique segment is divided into direct metal laser sintering, powder bed, electron beam melting, laser engineering net shapes, selective laser melting, direct metal deposition, blown powder, and others. Among these, the other segment is forecast to register significant growth in coming years. The segment, in fact, currently holds an overall 3.2% market share.
Based on material, the market is divided into titanium, copper, cobalt, aluminum, nickel, other steel, stainless steel, tungsten, silicon carbide, tungsten carbide, zirconium, aluminum oxide, molybdenum, zirconium dioxide, aluminum nitride, and magnesium. The titanium will witness an unprecedented 25.7% CAGR over the forecast time period owing to its superior material properties.
The cobalt segment is projected to witness around 12.4% CAGR through the analysis period. The copper segment will witness around 16.5% CAGR over the projected timeframe. Nickel segment will witness around 21.6% CAGR through the projected timeframe.
Aluminum will witness around 23.8% CAGR over the forecast years owing to rising utilisation in manufacturing aerospace components due to lightweight properties. Stainless steel segment holds share of over 17.82%, while the other steel segment is projected to witness around 22.2% CAGR through the projected time period. The aluminum nitride segment holds share of over 0.07%.
By application, the market is divided into aerospace, automotive, medical, oil & gas, energy, nuclear, renewable, and other. Among these, the oil & gas segment will witness around 20.9% CAGR owing to rising demand for crude oil for energy and chemical production.
The energy segment holds share of over 7.4% and is likely to register a favorable growth period owing to ongoing energy infrastructure upgradation activities and shift to renewable energy sources across the world. The other segment is expected to witness around 16.2% CAGR over the forecast timeframe.
Regionally, LATAM holds share of over 2.57% and is likely to witness considerable growth in coming years due to the expanding aerospace and automotive industries. The MEA will witness around 13.3% CAGR over the projected timeframe owing to rising oil & gas exploration activities in the region.
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