Metal additives manufacturing: Key market research findings
- Increased in industrial applications drives the market growth
- The US is the dominant shareholder in the market
- Key vendors—Arcam, EOS, ExOne, Renishaw, and SLM Solutions
Technavio’s market research analysts predict the global metal additive manufacturing market to grow at a CAGR of more than 24% between 2016 and 2020. The market’s growth is driven by the increase in the use of metal additives manufacturing in industrial applications. Metal additive manufacturing is widely utilized in prototyping as it helps produce complex shapes at a shorter lead time. Some of the end-users of metal additive manufacturing include service bureaus, research institutions, and the aerospace industry. During 2015, the US dominated the global metal additive manufacturing market by accounting for around 29% of the overall market share. The market is booming in this region owing to the increased adoption of the technology in healthcare, aerospace, and military sectors.
The new market research report from Technavio presents a breakdown and analysis of the metal additive manufacturing segments based on technology.
“Government initiatives to promote additive manufacturing is the latest trend in the market. Governments are partnering with academic institutions and private industries to enhance additive manufacturing further. The White House Office of Science and Technology has formed a working group, and federal organizations, including the National Science Foundation, the Department of Commerce, and the Department of Energy of the US are working to enhance the technology,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
The powerbed fusion technology accounted for almost 68% of the market space to become the dominant shareholder in the global metal additive manufacturing market. This technology selectively fuses regions on a bed of metal powder using thermal energy of electron beam melting (EBM) or selective laser melting. This technology finds application in the production of direct parts and for prototyping. EOS, SLM Solutions, Concept Laser, and Arcam are the prominent companies that use selective laser melting powder bed fusion technology.
The key vendors in the market include Arcam, EOS, ExOne, Renishaw, and SLM Solutions. The market is characterized by the presence of several vendors who are categorized by technology. Vendors in the market are focusing on increasing their portfolio to cater to the growing demand and survive in the competitive market. The metal additive technologies require licenses and patents that act as a barrier for the new entrants.
A more detailed analysis is available in the Technavio report, Global Metal Additive Manufacturing Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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