Metal Additive Manufacturing Market Expected to Reach $14.1 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Metal Additive Manufacturing Market," The metal additive manufacturing market size was valued at $2.6 billion in 2021, and is estimated to reach $14.1 billion by 2031, growing at a CAGR of 18.1% from 2022 to 2031.

Commonly observed types of metal additive manufacturing are powder bed fusion, binder jetting, direct energy deposition, and bound powder extrusion. Among these, powder bed fusion segment accounted for the highest market share in 2021, owing to its ease of use and precision. The market is analyzed with respect to different components of metal additive manufacturing, such as systems, materials, and service & parts. Among these, service & parts segment is expected to witness growth with a high CAGR, owing to increased demand for emerging economies. In addition, by end-user industry, it is based on aerospace, automotive, healthcare, and others. Among these, aerospace segment registered the highest revenue in 2021. Furthermore, the market is mainly driven by rise in population and their disposable income, which eventually drives demand in healthcare, automotive, and aerospace industries. However, high initial cost is anticipated to constrains the metal additive manufacturing market growth.

In 2021, North America dominated the global metal additive manufacturing market share in terms of revenue, followed by Europe and Asia-Pacific. Moreover, the market in Asia-Pacific is expected to grow at a high CAGR, owing to growth in sectors such as automotives, electronics, and healthcare.

The key players in metal additive manufacturing are constantly working on making their offerings efficient and production-friendly. For instance, Rapida, a 3D metal printer manufacturer, offers a water-based bound powder extrusion 3D metal printing machine. The components made using this printer do not require debinding as there is no excess material in the final product.

However, during the pandemic lockdown, various manufacturers in the metal additive manufacturing market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of metal additive manufacturing companies in the initial lockdowns. In addition, lack of manpower and raw materials constricted supply of raw materials for metal additive manufacturing and negatively influenced the growth of the market. However, after two years of COVID-19 outbreak and introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.

Key companies profiled in the metal additive manufacturing market forecast report include BeAM Machines, DMG Mori Seiki Co., Ltd., EOS GmbH, Farsoon Technologies, GE Additive, Renishaw plc, Sisma SpA, SLM Solutions, Trumpf, and Xi‘an Bright Laser Technologies Co., Ltd.

Key Findings of the Study 

• The report provides an extensive analysis of the current and emerging metal additive manufacturing market trends and dynamics. 
• Depending on the type, the horizontal segment dominated the metal additive manufacturing market in terms of revenue in 2021, and the vertical segment is projected to grow at a significant CAGR during the forecast period.
• By type, the powder bed fusion segment accounted for the highest market in terms of revenue in 2021.
• By components, service & parts segment is expected to grow at a higher CAGR.
• By end-user industry, aerospace segment registered the highest revenue in 2021.
• Asia-Pacific is projected to register the highest growth rate in the coming years.
• The key players within the metal additive manufacturing market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand competitive outlook of the metal additive manufacturing industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market. 
• In-depth metal additive manufacturing market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.