Steel Powder for 3D printing Market Expected to Reach $5.9 Billion by 2033

According to a new report published by Allied Market Research, titled, “Steel Powder for 3D printing Market," The steel powder for 3d printing market was valued at  $0.7 billion in 2023,, and is estimated to reach $5.9 billion by 2033, growing at a CAGR of 23.2% from 2024 to 2033.

Introduction

The steel powder for 3D printing market refers to a specialized segment of the broader additive manufacturing industry where steel (Metal) powder is used as the primary raw material to create three-dimensional objects layer by layer. This industry encompasses the production, distribution, and utilization of steel powders designed specifically for various 3D printing technologies such as Direct Metal Laser Sintering (DMLS), Selective Laser Melting (SLM), and Binder Jetting. Steel powder for 3D printing is highly valued for its mechanical properties, including high strength, durability, and the ability to withstand high temperatures and corrosive environments, making it suitable for critical applications in industries like aerospace, automotive, tooling, and healthcare.

Market Dynamics

The intrinsic properties of steel powder such as particle size distribution, shape, flowability, and density are crucial for determining the quality and reliability of the final 3D printed parts. Steel powders must be engineered to possess characteristics that ensure smooth and efficient printing processes as well as superior mechanical and structural qualities of the finished product. Properties such as high tensile strength, durability, and corrosion resistance make steel powder highly sought for applications across aerospace, automotive, and medical industries. As the abovementioned industries seek more robust and reliable materials, the development and refinement of steel powders specifically designed for 3D printing applications directly drives growth of steel powder for 3D printing market forecast.

However, technical challenges associated with steel powder for 3D printing also serve as a major restraint. These challenges include issues related to the printability of steel powders, such as inconsistent flow, high susceptibility to moisture, and the tendency of steel particles to agglomerate. These factors lead to defects in printed objects, such as cracks, warping, and poor mechanical properties. In addition, the layer-by-layer printing process requires precise control over laser or electron beam parameters to ensure proper melting and solidification of the powder. Any deviations in the process significantly affect the structural integrity and functionality of the final product. Overcoming the abovementioned technical challenges requires ongoing research and development, which is costly and time-consuming, further slowing down the adoption of steel powder in 3D printing applications.

Innovations that enhance the properties of steel powders, such as improved density, strength, and ductility, or the development of powders with specific properties like corrosion resistance and high-temperature tolerance, significantly expand their applications. These innovations enable the creation of parts that were not previously feasible with traditional manufacturing techniques or other materials. As steel powders are optimized for various 3D printing technologies (such as laser sintering and binder jetting), their versatility increases, making them suitable for more complex and demanding applications across industries such as aerospace, automotive, healthcare, and tooling. The abovementioned steel powder for 3D printing market trend provides an opportunity for market growth as manufacturers seek materials that combine performance with the design freedom of 3D printing.

Segments Overview

The steel powder for 3D printing market is segmented into material, application, and region. On the basis of material, the market is divided into stainless steel, nickel, titanium, and maraging. On the basis of application, the market is classified into aerospace, automotive, healthcare, tooling, and others. On the basis of region, the steel powder for 3D printing market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Stainless steel and maraging steel powders are the fastest growing segments in the steel powder for 3D printing market size primarily due to their exceptional properties that cater to demanding applications across various industries. Stainless steel is renowned for its corrosion resistance, high strength, and durability, making it ideal for medical instruments, food processing equipment, and marine components, all of which benefit from these characteristics in harsh or sterile environments.

Maraging steel, known for its ultra-high strength and toughness after simple heat treatment, is particularly favored in aerospace and tooling applications where high performance is crucial. These characteristics make both types of steel highly suitable for the precision and customization offered by 3D printing technologies, enabling the production of complex parts that are challenging or impossible to manufacture using traditional methods. In addition, the ongoing advancements in 3D printing technology have improved the quality and reduced the cost of printing with these materials, thus driving their increased adoption in new markets and applications.

The medical segment is one of the fastest-growing application area in the steel powder for 3D printing market share primarily due to rise in adoption of personalized medicine and the demand for custom medical devices & implants. Steel powder is particularly valuable in the medical field for its ability to produce complex, patient-specific geometries with a high degree of precision and mechanical integrity. For instance, 3D-printed steel is used to manufacture tailor-made orthopedic implants, dental fixtures, and surgical tools that fit individual anatomical requirements, which significantly enhances patient outcomes. According to Menno Ellis of 3D Systems predicts, “A wider adoption of Additive Manufacturing (AM) is expected for applications such as craniomaxillofacial procedures, orthopedic, and radiation oncology.” This personalization capability is crucial as it leads to better patient care and potentially faster recovery times, thus driving demand for 3D printed medical solutions.

According to Taci Pereira from Systemic Bio “The growing popularity of bioprinting technologies and their application in creating more complex organ and disease models have a significant positive impact on the demand for steel powder for 3D printing market. Furthermore, bioprinting is specifically mentioned in 3d print with an expected market size that could reach nearly $1.2 billion by 2028”.

Furthermore, the rise in acceptance of 3D printed products by regulatory bodies, coupled with technological advancements in 3D printing that improve the affordability and accessibility of these methods, contribute to the growth of this segment. As healthcare providers recognize the benefits of 3D-printed steel items, such as reduced surgery times and improved long-term durability of implants, the demand for specialized steel powders continues to rise, propelling the growth of this market segment.

Regional Analysis

The Asia-Pacific region is the fastest-growing segment in the steel powder for 3D printing market due to several key factors including rapid industrialization, significant investment in R&D, and strong government support for manufacturing innovations. China, Japan, South Korea, and India are leading this growth, driven by the expansion of manufacturing facilities across various sectors and the strategic push toward adopting advanced manufacturing technologies to maintain competitive advantages.

The region's focuses on sectors such as automotive, aerospace, and healthcare where 3D printing is utilized for production, further fueling demand for high-quality steel powders. In addition, the presence of a large number of manufacturers and a growing startup ecosystem focused on 3D printing technologies contribute to local expertise and lower production costs, making the technology more accessible and practical for widespread use. This environment fosters both technological advancements and market expansion, positioning Asia-Pacific as a dynamic hub for the steel powder for 3D printing industry.

Competitive Analysis

The major players operating in the steel powder for 3D printing market include Daido Steel Co., Ltd., Toray Precision Co., Ltd., Fushun Special Steel, US Research Nanomaterials, Inc., Luoyang Tongrun Nano Technology Co., Ltd, CNPC powder, American elements, Hoganas AB, EOS GmbH, and Markforged.

Key Findings of Study

• On the basis of material, the titanium segment emerged as the global leader by acquiring more than two-thirds of the steel powder for 3D printing market share in 2023 and is anticipated to continue this trend during the forecast period.
• On the basis of application, the automotive segment emerged as the largest market share in 2023, which accounts for more than one-fourth of the steel powder for 3D printing market share.
• On the basis of region, North America is the major consumer of steel powder for 3D printing among other regions. It accounted for more than one-third of the global market share in 2023.