Published on : Mar 14, 2017
ALBANY, NY, March 14, 2017: The report deals with key information about market drivers, growth opportunities, restraints, trends, competitive scenario, and leading segments. The report leverages Porter’s Five Force analysis to gauge the level of competition among the major market players operating in the global 3D printing of metals market.
Also known as metal additive manufacturing (AM) or Direct Metal Laser Sintering (DMLS), 3D metal printing has grown popular of late, thanks to the variety of materials that offer unique combinations of aesthetic and practical properties that suit a plethora of products ranging from jewelry, prototypes, functional parts, miniatures, or kitchenware.
Conventional manufacturing of parts of different machines and objects from metal and plastic was a wasteful process. For instance, in the making of aircrafts, almost 90% of the material is cut away in the process. 3D printing ensures that lesser energy is used for optimum use of the metal. Also, finished 3D printed products could be up to 60% lighter than machined part. As a result, the aviation industry can save millions of dollars due to the consequent weight reduction, chiefly on fuel. At home, 3D printing of metals can be used for making jewelry, home hardware, statues, and replicas of artifacts.
The ability of these systems of creating complex designs, elimination of the necessity of molds and tools, and faster results are some of the major advantages of 3D metal printing. More importantly, these devices can customize every single item based on the demands of consumers. These devices also offer ease of prototyping and ensure lesser wastage. All these benefits will augment the demand for 3D printing of metals across several application industries, boosting the growth of the market.
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On the contrary, lesser material and color choices, low flexibility, and higher production costs are some deterrents preventing the growth of the market. Also, the difficulty level is quite high, and requires fine-tuning of the temperature of the nozzle. The metal filament is also not very durable. However, as more number of manufacturers, amateur and professional artists, and students begin 3D printing of metals, the negative impact of these restraints will be nullified.
Based on geography, the global 3D printing of metals market has been segmented into Asia Pacific, Europe, North America, and Rest of the World (RoW). North America is slated to exhibit considerable growth, backed by the presence of strong aerospace and defense and manufacturing industries in the U.S. The government policies are also aiding the growth of the market in North America.
Asia Pacific presents vast potential for expansion, with countries such as India and China contributing a majorly towards the growth of the 3D printing of metals market in this region. The growth of this region can be attributed to the reduction in overall costs luring several price conscious end users, large scale industrialization activities, together with greater technological advancement in the region.
Some of the major companies operating in the global market for 3D printing of metals are Arcam Group, Exone, Sciaky Inc., Renishaw PLC. Stratasys Ltd., SLM Solutions Group AG, Hoganas AB, 3D Systems, EnvisionTEC GmbH, Autodesk, Inc., Wuhan Binhu and Materialise NV. The market is fragmented exhibiting a high degree of competition, with numerous manufacturers focusing on product innovation via investments in R&D.
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