LONDON--(BUSINESS WIRE)--The global metal additive manufacturing market is expected to post a CAGR of over 21% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of this market is the increase in demand from the automobile industry. The short lead times, access to new materials, and customizable finishes have encouraged automobile manufacturers to integrate 3D printing processes in their production strategies. The manufacturing process of automobile components involves the use of metal additives for investment casting, customized tooling, and prototyping. Selective laser sintering, fused deposition, and selective laser melting are some of the technologies used in said manufacturing process. Metal additive manufacturing is also used for the production of different automobile parts such as bumpers, windbreakers, pumps, valves, and cooling vents.
This market research report on the global metal additive manufacturing market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the rise in R&D activities as one of the key emerging trends in the global metal additive manufacturing market:
Global metal additive manufacturing market: Rise in R&D activities
The increase in innovation and product developments in metal additive manufacturing is expected to foster the demand during the forecast period. Players in the market have increased their R&D activities to produce metal additive manufacturing systems. In developed countries such as the US, Germany, France, and the UK, the rise in innovation is expected to drive the market growth.
“Companies such as ExOne announced the release of its new additive manufacturing system, the Innovent+, which has better power-handling capabilities and comes with the new Ultrasonic recoater design. The Ultrasonic recoater offers easy user-interface and material flexibility. It also offers advanced power-disposing technology in the global metal additive manufacturing market,” says a senior analyst at Technavio for additives, adhesives, and sealants.
Global metal additive manufacturing market: Segmentation analysis
This market research report segments the global metal additive manufacturing market by application (aerospace, healthcare, tools and mold, and automobiles) and geographical regions (APAC, EMEA, and the Americas).
The aerospace segment held the largest market share in 2017, accounting for nearly 28% of the market. This application segment is expected to continue dominating the global market through the forecast period.
The Americas led the market in 2017 with a share of nearly 44%. This region is expected to dominate the market through 2022 as well. However, there will be a decrease in its market share by nearly 2%.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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