The global 3D printing powder market is projected to reach USD 636.9 million by 2031, at a CAGR of 24.4% from 2022 to 2031. The increasing application of 3D printing in aerospace & defense industry, majorly in the manufacturing of aircraft engines and components as well as the expiry of various technology patents are the major factors that are expected to drive the growth of the 3D printing powder market.
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Aerospace & defense segment is projected to contribute highest market share till 2031
The aerospace & defense application segment accounted for the largest share of the 3D printing powder. This technology has the ability to bring revolution in the manufacturing industry. 3D printing has also been successively used in bones and dental crowns, cars and buildings, and so on. Factors, such as rapid technological developments in 3D printing, along with the expiry of process patents for powder-based technology are expected to drive the global 3D printing powder market.
North America is expected to be a major market for 3D printing powder till 2031
North America is projected to be a major market for 3D printing powder in 2022. However, the 3D printing powder market is expected to penetrate emerging countries as well, where manufacturing industries are not well developed. The 3D printing powder market in RoW is expected to grow at the highest CAGR between 2022 and 2031, with knowledge transfer taking place between industrial and emerging countries. The growth of the 3D printing powder market in Asia-Pacific is expected to be driven by the increasing presence of manufacturers in this region.
Metal powders segment is projected to account for the highest consumption
The metal powders segment is projected to account for the highest consumption. Powder-based laser sintering technology is one of the affordable technologies, which uses metal powders to produce durable products. As many important patents related to this technology have expired in 2014, it is expected that the powder-based laser sintering technology will be now accessible to various number of manufacturers, thus fueling the demand for powder-based printers in the coming years. The reduction in technology cost is expected to lead to increasing demand from other applications.
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BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS:
• By Company Type: Tier 1 – 30 %, Tier 2 – 55% and Tier 3 – 15%
• By Designation: C level – 35%, Manager level – 45%, Others – 20%
• By Region: North America – 30%, Europe – 40%, APAC – 20%, RoW – 10%
Further, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, challenges, and regulations. It also discusses competitive strategies adopted by market players across different regions. Leading producers of 3D printing powders have been listed in the report with their recent developments and expansion strategies. Powder manufacturers including Sandvik AB (Sweden), Carpenter Technology Corporation (U.S.), LPW Technology (U.K.), Arcam AB (Sweden) have been profiled in this report.
Reasons to buy this report:
This report covers the following key aspects:
• What will be the market size by 2031 and what will be the growth rate
• What are the key market trends
• What is driving this market
• What are the challenges that impact market growth
• Who are the key players in this market
• Global report covers key regions such as North America, Europe, and Asia-Pacific with their major countries
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