3D Printing Powder Market to Perceive Substantial Growth During 2025
The
vendor landscape of the global 3D printing powder market is being
rapidly populated by a number of companies that traditionally
manufacture powders for conventional industrial processes such as hot
iso-static pressing (HIP), metal injection molding (MIM), and powder
sintering (PS), observes Transparency Market Research in a recent
report. With the rising set of applications for 3D-printed products
and a lack of large players across the globe, the global 3D printing
powders market is expected to emerge as a lucrative growth
opportunity for local players and start-up companies.
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With
proactive investment and geographical expansion strategies, companies
operating in the field of 3D printing powders can benefit from the
scope of capturing opportunities in lucrative local and regional
markets during the forecast period. Some of the leading companies in
the market are Arcam AB, Advanced Powders and Coatings Inc., GKN plc,
Carpenter Technology Corporation, Hoganas AB, Arkema, LPW Technology
Ltd., Sandvik AB, Ltd., and Metalysis.
According
to the report, the global 3D printing powder market, which valued at
US$313.7 mn in 2016, is estimated to rise to a revenue opportunity of
US$1,558.9 mn by 2025, registering an impressive CAGR of 20.3%
between 2017 and 2025.
Geographically,
the market for 3D printing powder in North America accounted for the
dominant revenue share of over 38% of the global market in 2017. The
regional market also shows immense potential in terms of future
development and revenue opportunity over the report’s forecast
period. The region is considered a developed market owing to the
presence of well-established infrastructure, technological
superiority, and recovering economy, which enable 3D printing powder
manufacturers to easily establish their presence in their respective
local markets in these regions.
The
massive rise in uptake of additive printing technologies for
manufacturing products that have a vast set of uses spanning a number
of industries in the past few years is one of the chief factors
attributable to the healthy growth prospects that the global 3D
printing powder market showcases. 3D-printed products are being
increasingly used in industries such as defense, healthcare,
medicine, energy, consumer goods, electronics, aerospace, and
automotive. Steady expansion of these industries and greater strides
achieved in the area of 3D printing - in terms of the finish,
reliability, and qualitative value of the end-product possible with
available machines and materials - are also faring well for the
global 3D printing powder market.
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Increased
global uptake of 3D-printed products is acting as a massive
encouragement for companies operating in the 3D printing powder
market. Increased focus of companies on research and development
activities with the view of introducing innovative, qualitatively
advanced, and distinctive product varieties suiting the requirements
of specific applications are also helping the market advance at a
promising pace.
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