3D Printing Metal Market Size Growing from US$ 422.9 Million to US$ 2.95 Billion over the Forecast Period (2022-2032)

New York, Dec. 12, 2022 (GLOBE NEWSWIRE) -- The global 3D printing metal market is set to grow from US$ 422.9 Mn in 2022 and reach US$ 2.95 Bn by the end of 2032, as per this new report by Persistence Market Research.

Additive manufacturing satisfies the crucial need for customized, yet reasonably priced product solutions, and due to this, 3D printing is becoming more and more popular. Manufacturers of medical devices, workplace equipment, aerospace, electrical, and automobiles are putting more emphasis on innovation. Using additive manufacturing, it has become easier to combine complex elements such as hard and soft zones, dense and porous designs, multi-material, and multi-color characteristics than it was using conventional production methods.

Manufacturers of medical equipment, industrial machinery, and automotive components are benefiting from using computer-aided design (CAD) to shorten the time it takes for a product to reach the market, as well as to save time and money on the production tooling process.

"Swift growth in advanced manufacturing processes such as additive manufacturing techniques is bolstering the sales of 3D printing metals," says a Persistence Market Research analyst.

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Key Takeaways from Market Study:

The global 3D printing metal market is expected to reach a valuation of US$ 2.95 Bn by the end of 2032.
The U.S. holds a dominating share of the global market.
Growing demand for lightweight, high-performance components having complex geometric shapes is promoting the use of innovative production processes over conventional ones.
The aerospace sector holds a significant share of the demand for 3D printing metals.
Key market participants are actively expanding their manufacturing capabilities to cater to the rising demand.

Implementing 3D printing results in less material wastage in the form of process scrap by eliminating the need for expensive tooling and cutting down the number of manufacturing or processing steps, which results in a leaner supply chain. The costs associated with conventional manufacturing include the expensive CNC programming of machines, CAM programs, transfer time, and cost of multiple operations, labor, and management of multiple vendors, which can be eliminated through 3D printing metal.

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Competitive Landscape

According to Persistence Market Research, Sandvik AB, ATI Powder Metals, Advanced Metallurgical Group, Rio Tinto, American Axle & Manufacturing, Inc., Carpenter Powered Products, Showa Denko Materials, GKN PLC, Praxair Surface Technologies Inc., Aubert & Duval, Höganäs AB, voestalpine BÖHLER Edelstahl GmbH & Co KG, Royal Metal Powders, Australian Metal Powders Supplies Pty Ltd., CNPC Powder Group Co., Ltd., Renishaw, Materialise NV, Stratasys Ltd., Optomec, Inc, 3D Systems Corporation, and Arcam AB are identified as key manufacturers of 3D printing metals.

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