NEW YORK, June 25, 2024 /PRNewswire/ -- The global metal additive manufacturing market size is estimated to grow by USD 15.12 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 29.28% during the forecast period. 

The metal additive manufacturing market is booming, driven by a growing preference for this technology and continuous advancements in materials.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022) - Download a Sample Report

However, high production costs remain a hurdle.

Key trends fueling this growth include:

• New materials: Development of materials with unique properties like high heat resistance and intricate design possibilities.
• Expanding applications: Industries like aerospace and healthcare are increasingly using metal additive manufacturing for prototyping, custom parts, and complex components.

Common techniques used are:

• Nano dimension printing
• Electron beam melting
• 3D metal printing

Metal additive manufacturing faces challenges such as:

• High costs of metal powders: Expensive materials like aluminum and steel hinder wider adoption.
• Limited build envelopes: Large components might require additional joining and welding, impacting efficiency.

Major players in this market include:

• 3D Systems Corp.
• EOS GmbH
• SLM Solutions Group AG
• Renishaw Plc

The market is segmented by:

• Type: Selective laser melting, electron beam melting, etc.
• Application: Aerospace, healthcare, tools and molds, automotive, etc.
• Geography: North America, Europe, Asia Pacific, etc.

Metal additive manufacturing offers several benefits:

• Production of complex geometries and lightweight structures
• Faster and more resource-efficient compared to traditional methods
• Potential for mass customization and reduced material waste

Overall, the metal additive manufacturing market holds immense promise for the future, despite current challenges.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• • Selective Laser Melting
  • Electron Beam Melting
• Application
• • Aerospace
  • Healthcare
  • Tools And Mold
  • Automobile
  • Others
• Geography
• • North America
  • Europe
  • APAC
  • South America
  • Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/metal-additive-manufacturing-market-size-is-set-to-grow-by-usd-15-12-billion-from-2024-2028--increased-preference-for-additive-manufacturing-to-boost-the-market-growth-technavio-302181376.html

SOURCE Technavio