Due to 3D printing, the terms innovation and strategy’ve a new dimension all together. Also called additive manufacturing, the technique of 3D printing is mainly employed in end-user industries such as, aerospace & defense, medical, and automotive, among others, with aerospace & defense being the largest user of 3D printing, followed by automotive. It is also proving to be an asset for the medical industry, as it can be used in various types of implants and other surgical operations. Moreover, powder-based printers are being used nowadays today, mainly because of their characteristics like durability and higher compressibility, thereby triggering the industry increase for 3D printing powders.
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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 expected 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 major companies that manufacture aircraft for making jet engines and other engine components. Aside from this, titanium is also used to do medical surgeries that might not be possible using traditional techniques and equipment. The marketplace in Asia-Pacific sees a great potential due to the growing manufacturing sector, and is also likely to drive the demand for 3D printing technology in the near future. Overall, the market for 3D printing powder is expected to foresee a steady growth in the coming years.
Currently, North America is the biggest market for 3D printing powder, followed by Asia-Pacific and Europe. With Europe being one of the major centers for the manufacturing of powder metallurgy, the companies here are investing more and searching for expansions for the future advancements in this marketplace. The market in Asia-Pacific is expected to advance at a higher CAGR over the forecast period, compared to other regions.
Among 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 be the fastest-growing type in 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), among others.
The global 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 Powder, Others
• Geography: North America, Europe, Asia-Pacific, RoW.