The global 3D printing metal market size was valued at USD 380.3 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 25.7% from 2021 to 2028. Rising investments in 3D printing companies are projected to support market growth over the coming years. For instance, Mantle Inc. has raised USD 25 million in funding for the installation of commercial 3D printing systems in 2022. Mantle, Inc. is a 3D component manufacturer and has already produced over 1 million parts for applications, such as medical devices, deodorant packaging, and dishwasher components.
Manufacturers generally adopt AM to produce scalpel handles, clamps, forceps, hemostats, and prosthetic limbs. Several companies are adopting AM processes for healthcare applications. For instance, 3D Systems Healthcare is expected to collaborate with the medical industry to drive the growth of additive manufacturing in the medical & dental industry.
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Key Player Mentioned:
- Arcam AB
- ExOne GmbH
- Carpenter Technology Corp.
- Renishaw PLC
- Materialise NV
- 3D Systems Corp.
- Voxeljet AG
- Sandvik AB
- Hoganas AB
- GKN PLC
3D printing technology also known as Additive Manufacturing (AM) is used to produce patient-suitable dental products, such as partial dentures, crowns, and bridges in the dental industry. Most of the time, the traditional method of manufacturing is not suitable for low-volume manufacturing as the equipment varies in size, which is now addressed by AM technology, and this is expected to drive the market growth in the U.S.
Product Segment Analysis:
- Titanium
- Nickel
- Stainless Steel
- Aluminum
- Others
Application Segment Analysis:
- Aerospace & Defense
- Automotive
- Medical & Dental
- Others
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa
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The shift from rapid prototyping to production using 3D printing is projected to offer new opportunities for market players. As per the recent survey of 3D hubs, over 50% of companies revealed the use of 3D printing for the manufacturing of functional end-use parts. Industries, such as automotive, transportation, and biotechnology, have witnessed increasing usage of 3D printing in the recent past.
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