Rise in penetration of bio-based materials and high-end technological advancements on board drive the growth of the global 3D printing metal market.
OREGON, PORTLAND, UNITED STATES, September 27, 2021 /EINPresswire.com/ — The global 3D printing metal market was estimated at $147.2 million in 2018 and is expected to hit at $796.3 million by 2026, registering a CAGR of 23.5% from 2019 to 2026. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in penetration of bio-based materials and high-end technological advancements on board fuel the growth of the global 3D printing metal market. On the other hand, high costs related to raw materials restrain the growth to some extent. Nevertheless, rapidly growing industries such as healthcare, automotive, and aerospace & defense are expected to pave the way for lucrative opportunities in for the key players in the industry.
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The aluminum segment to rule the roost by 2026-
By type, the aluminum segment contributed to around half of the total market revenue in 2019, and is expected to retain its dominance by the end of 2026. At the same time, the steel segment would project the fastest CAGR of 24.2% during the study period. The other segments assessed in the market report include titanium and nickel.
The powder segment to maintain the lion’s share till 2026-
By form, the powder segment held nearly three-fourths of the total market share in 2019, and is projected to retain the top status by 2026. The filament segment, on the other hand, is anticipated to manifest the highest CAGR of 24.1% throughout the forecast period.
North America to dominate in terms of revenue-
By geography, North America generated the highest market share in 2019, holding more than two-fifths of the global market. Simultaneously, the region across Asia-Pacific would register the fastest CAGR of 24.2% by 2026. The other two provinces discussed in the report include LAMEA and Europe.
Frontrunners in the industry-
The key market players analyzed in the global 3D printing metal market report include Arcam AB, Autodesk, Inc., 3D Systems, Voxeljet AG, The ExOne Company, Hoganas AB, Optomec, Inc., Ponoko Limited, Stratasys Ltd, and Organovo Holdings, Inc. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Source: EIN Presswire