The 3D printing powder market is expanding due to the increasing application of 3D printing technology. Stainless steel, widely known for its strength, durability, and resistance to corrosion, is a popular choice for producing this 3D printing powder.
Wilmington, Delaware, United States, Dec. 13, 2023 (GLOBE NEWSWIRE) – Transparency Market Research Inc. reports that the global market for 3D printing powder was expected to reach US$ 773.9 million in 2022. The market is predicted to grow at a CAGR of 20.3% from 2023 to 2031, and by 2031, the market value is likely to reach US$ 4.1 billion.
3D printing technology transforms computer models into tangible objects. It offers an array of advantages like sustainability, efficiency, adaptability, and customization, making it a valuable tool in diverse industries such as automotive, aerospace, and healthcare. In the automotive industry, 3D printing is utilized in design and prototyping processes.
Prototyping is one of the key applications of 3D printing. This technique enables the creation of real product models or assemblies. In the auto industry, it streamlines the product development process, thus contributing to the worldwide market growth.
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Key Findings of the Market Report
Layer by layer, powdered materials are used in powder-based 3D printers to produce three-dimensional things.
3D printing powders are substances used in various additive manufacturing methods.
All the materials commonly used in 3D printing, such as plastics, metals, and ceramics, often come in powder form.
These metal powders, which are prepared as small granules, are extensively utilized in various 3D printing methodologies that produce metal items.
The manufacturing process of these metal powders involves multiple methods, including solid-state reduction, milling, electrolysis, chemical reactions, and atomization among others.
Significant amounts of certain elements, notably nickel and cobalt, are processed into powder form for use in 3D printing.
Stainless steel, with its superior corrosion resistance, strength, and longevity, is a favored choice for 3D printing powders.
3D Printing Powder Market Trends
3D printing technology is reaping the benefits of significant investment due to its growing application. A noteworthy instance from December 2023 involves a collaboration between Lithoz GmbH, an additive manufacturing high-tech ceramic provider, and the United States Department of Energy’s (DOE) Oak Ridge National Laboratory. The partners aim to explore the process of non-oxide ceramics using Lithoz’s 3D printing machinery.
Research and advancements in materials utilized in 3D printing are propelling the market growth for 3D printing powder. At the AM Conclave conference held in Abu Dhabi in September 2023, the Technology Innovation Institute (TII) introduced AMALLOY, an unique aluminum alloy powder tailored for additive manufacturing. AMALLOY’s primary application is anticipated in laser beam powder bed fusion systems.
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Global Market for 3D Printing Powder: Regional Outlook
Various reasons are propelling the growth of the 3D printing powder market throughout the region. These are:
In 2022, North America held the majority of the share. The dynamics of the regional market are being driven by an increase in 3D printing investment. The non-partisan, non-profit research organization ASTRO America revealed fresh plans in August 2023 to create an investment fund for small company 3D printing development. The program is centered on making investments throughout the entire military ecosystem, utilizing sophisticated manufacturing processes to provide novel capabilities.
Key Players in the Global 3D Printing Powder Market
3D printing powder producers are enhancing their manufacturing capacities to stay competitive in the market. For example, in March 2023, GE announced its plan to invest more than US$ 450 million in its existing production locations by the end of 2023.
About US$ 16 million of this investment will be allocated for additive manufacturing. These initiatives also include the adoption of environmentally friendly manufacturing methods in response to environmentally conscious customers. In evidence of this, GKN Aerospace and start-up IperionX Limited partnered in October 2023 to create 100% recycled titanium powder using GKN Aerospace’s scrap titanium feedstock.
The prominent manufacturers in the 3D printing powder market are GE Additive, Arkema, Carpenter Technology Corporation, Erasteel, GKN Powder Metallurgy, Hoganas AB, Sandvik AB, and Metalysis. These companies have established a significant presence in the global 3D printing powder market.
GE Additive
Arkema
Carpenter Technology Corporation
Erasteel
GKN Powder Metallurgy
Hoganas AB
Sandvik AB
Metalysis
Some key developments by the players in this market are:
IperionX Limited obtained an agreement from the US Export-Import Bank in October 2023 for a preliminary amount of US$ 11.5 million for the construction of IperionX’s titanium production facility in Halifax County, Virginia.
The first order for titanium powder was received by PyroGenesis Canada Inc., an advanced materials business that specializes in metal powders for additive manufacturing, from an unnamed United States client in June 2023.
Global 3D Printing Powder Market Segmentation
Product
Plastics
Metals
Stainless Steel
Cobalt
Nickel
Others
Ceramics
Others
Application
Automotive
Aerospace
Medical
Others
Region
North America
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Europe
Asia Pacific
Middle East & Africa
Latin America
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