Due to 3D printing, the terms innovation and strategy’ve a brand new dimension all together. Also called additive production, the method of 3D printing is principally utilized in end-user industries such as, aerospace & defense, medical, and automotive, amongst others, with aerospace & defense being the largest user of 3D printing, followed by automotive. It’s also proving to be an asset for the health care sector, as it may be utilised in a variety of types of implants and other surgical operations. Moreover, powder-based printers are being used nowadays today, mainly because of their features like durability and higher compressibility, thereby triggering the industry increase for 3D printing powders.
Advancements in technology, greater focus new product launches and on investments in R&D of powder-based printing, easy access to metal and non-metal powders, and expiry of patents are predicted to escalate the industry growth even further. Aerospace & defense being the dominant end-user of 3D printing powder, largely titanium, calls for a wonderful demand from leading companies that manufacture aircraft for making jet engines and other engine parts. Aside from that, titanium is also used to do medical surgeries that might not be possible using conventional techniques and equipment. The marketplace in Asia-Pacific sees a great potential because of the expanding manufacturing industry, and is also possible to drive the requirement for 3D printing technologies in the not too distant future. In general, the market for 3D printing powder is expected to foresee a steady expansion in the next few years.
At present, North America is the biggest market for 3D printing powder, followed by Asia-Pacific and Europe. With Europe being one of the important centers for the production of powder metallurgy, the firms here are investing more and searching for expansions for the future improvements in this marketplace. The marketplace in Asia-Pacific is expected to progress at a higher CAGR over the forecast period, compared to other regions.
One of the programs, aerospace & defense held the maximum market share in 2015, followed by automotive and medical & dental businesses. Moreover, among the sort of wax, metal powder took up the biggest share and will also function as fastest-growing type within this segment.
The significant giants operating in the worldwide marketplace for 3D printing powder are Sandvik Materials Technology (Sweden), GKN Hoeganaes (U.S.), Carpenter Technology Corporation (U.S.), LPW Technology Ltd. (U.K.), Arcam AB (Sweden), and Erasteel Kloster AB (Sweden), amongst others.
The International 3D printing powder market has been analyzed and forecasted by breaking it down into following sections:
• End-User: Aerospace & Defense, Automotive, Medical & Dental, Others
• Type: Metal Powder, Ceramic Powder, Plastic PowderOthers
• Geography: North America, Europe, Asia-Pacific, RoW.