Global 3D Printing Metal Materials Market 2020-2024 | Rising Demand for High-Performance Materials to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 30, 2019--
The global 3D printing metal materials market is expected to post a CAGR of more than 26% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global 3D printing metal market 2020-2024. (Graphic: Business Wire)
Metals are strong, lightweight and are resistant to high temperatures. These properties have increased their use in 3D printing applications in the aerospace sector. Metal materials are used in 3D printing to help improve fuel efficiency, reduce emissions, and increase overall energy efficiency of aircraft engines. The rising adoption of 3D technology in the aerospace industry will have a positive impact on the demand for 3D printing metal materials. As a result of these factors, the global 3D printing metal materials market will accelerate during the forecast period.
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As per Technavio, the rising demand for high-performance materials will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global 3D Printing Metal Materials Market: Rising Demand for High-Performance Materials
End-users across several industries such as automotive, aerospace and defense, and marine are exhibiting strong demand for high-performance materials. This is due to favorable properties such as high-temperature resistance, thermal shock resistance, and non-conductive nature. For instance, automobile manufacturers use these materials in high-performance vehicles to improve fuel efficiency and withstand high temperatures and thermal shock. Thus, the increasing demand for high-performance materials from various end-user applications is expected to boost market growth during the forecast period.
“Apart from the rising demand for high-performance materials, the use of 3D printing to produce spare parts and emerging applications of 3D printing in medical and healthcare industries are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global 3D Printing Metal Materials Market: Segmentation Analysis
This market report segments the global 3D printing metal materials market by geography (APAC, Europe, MEA, North America, and South America), type (titanium, stainless steel, nickel, aluminum, and others) and end-users (medical and healthcare, automotive, aerospace and defense, tool and mold making, academic institutions, and other end-users).
The North American region led the market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the increasing investments by government and industry participants in additive manufacturing.
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Some of the key topics covered in the report include:
Five Forces Analysis
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SOURCE: Technavio Research
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PUB: 10/30/2019 02:00 PM/DISC: 10/30/2019 02:01 PM