Due to 3D printing, the terms innovation and strategy have got a new dimension all together. Also known as additive production, the method of 3D printing is principally 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 sector, as it may be utilised in various types of implants and other surgical operations. Moreover, powder-based printers are being used widely nowadays, mainly due to their features like durability and high compressibility, thereby triggering the market increase for 3D printing powders.
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 predicted to escalate the industry growth even further. Aerospace & defense being the prominent 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. Apart from this, titanium is also being used to perform medical surgeries that might not be possible using traditional techniques and equipment. The market in Asia-Pacific sees a great potential because of the growing manufacturing sector, and is also likely to drive the demand for 3D printing technologies in the not too distant future. In general, the market for 3D printing powder is expected to foresee a steady expansion 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 firms here are investing more and searching for expansions for the future improvements in this marketplace. The marketplace in Asia-Pacific is expected to progress at a higher CAGR over the forecast period, in comparison to other regions.
Among applications, aerospace & defense held the highest market share in 2015, followed by automotive and medical & dental businesses. Moreover, among the type of wax, metal powder took up the largest share and will also function as fastest-growing type in this segment.
The significant giants operating in the worldwide market 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), amongst others.
The International 3D printing powder market has been analyzed and forecasted by breaking it down into following segments:
• End-User: Aerospace & Defense, Automotive, Medical & Dental, Others
• Type: Metal Powder, Ceramic Powder, Plastic Powder, Others
• Geography: North America, Europe, Asia-Pacific, RoW.