Additive Manufacturing with Metal Powders Market Expected to Reach...

Additive Manufacturing with Metal Powders Market Expected to Reach USD 5089.28 million By 2032

Posted 2023-08-11 06:57:39

The global Additive Manufacturing (AM) with Metal Powders Market size was valued USD 1147.41 million in 2022 and is expected to reach a value of USD 5089.28million in 2032 and register a revenue CAGR of 18% during the forecast period.

The increasing use of Additive Manufacturing (AM) technology across a range of sectors, including aerospace, automotive, and healthcare, as well as the demand for affordable and effective manufacturing methods, are the main drivers of market expansion.

It provides a significant competitive advantage for companies in the automation sector, including automotive and automotive. Additive manufacturing requires little set-up and tools to produce prototypes and low-volume goods, speeding innovation and time to market. When you use additive manufacturing to produce replacement parts and tools, you can reduce the storage space and administrative support required in your facility. This helps reduce overhead and ongoing resource costs. The additive approach just uses the materials needed to build the shape of the object. Additionally, subtractive his manufacturing requires the manufacturer to pay for the raw materials that are later used to make the components, which must be properly managed and disposed of. Therefore, increased automation of production is expected to lead to increased demand for metal additive manufacturing, which is expected to drive revenue growth of the market.

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Some Key Highlights from the Report

The Asia-Pacific market is expected to account for the largest revenue share during the forecast period. This is due to the increasing activity of key market players in the region. For example, the non-magnetic, corrosion-resistant, and oxidation-resistant nickel-based superalloy IN625 is now available as metal powder from Changsha Taicheng Metal Materials Co., Ltd. (TIJO), Changsha City, Hunan Province, China. In addition to its excellent toughness and fatigue strength, IN625 resists corrosion at temperatures up to 1093°C. Using laser or electron beam powder bed fusion (PBF-LB and PBF-EB) Am techniques, the alloys are claimed to have strong weldability.
On April 6, 2022, researchers at the Indian Institute of Science (IISC) discovered an alternative, low-cost method of producing metal powders. The IISc statement notes that metal powders are most often made through a process called atomization, highlighting how AM or 3D printing adds material layer by layer to create an object. Atomization is widespread, but it has low yields, is expensive, and is limited in the types of materials it can process. The team found another approach to avoid these issues. This has attractive implications for all AM processes, including the manufacture of biomedical implants.
On December 15, 2020, GFG Alliance member Liberty Powder Metals commenced commercial production at its new Powder Metals facility in Teesside. The company produces a variety of stainless steel and nickel superalloy powders for use in precision components for the engineering, aerospace and automotive industries.
Companies profiled in the market report include AP&C, 3D Systems, Inc., ATI, AddUp, Additive Industries, Arconic, General Electric, Arcam, CRS Holdings, LLC., and EOS.

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