Metallurgical Additive Market Estimated to Reach USD 64.7 billion by 2031: Report by Transparency Market Research Inc.
The integration of additive manufacturing with technologies like 5G and the Internet of Things is enhancing remote monitoring and control of AM processes, improving efficiency and quality control.
Wilmington, Delaware, United States, Nov. 03, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc.- The global metallurgical additive market was estimated to have acquired US$ 42.4 billion in 2022. It is anticipated to register a 6.0% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 64.7 billion.
Metal binder jetting technology is evolving, providing a cost effective and scalable way to produce metal parts, particularly in industries like automotive and aerospace. The healthcare industry has been witnessing an increasing adoption of additive manufacturing for producing custom implants, dental prosthetics, and orthopedic devices. The trend is driven by the need for patient specific solutions and improved healthcare outcomes.
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Companies specializing in metal 3D printing services are expanding their offerings, making it easier for businesses to access the benefits of additive manufacturing without making substantial investments in additive manufacturing equipment and infrastructure. The energy storage industry is exploring the use of additive manufacturing for producing innovative battery designs and components, aiming to improve energy density, performance, and lifespan.
- Kerneos S.A.
- Imerys Aluminates
- Calucem GmbH
- Harsco Corporation
- RHI Magnesita
- Grecian Magnesite
- Premier Periclase Ltd.
- Magnesitas Navarras S.A.
- Nedmag Industries Mining & Manufacturing B.V.
Key Findings of the Market Report
- Companies are developing industry specific AM platforms and software, making it easier for businesses to integrate AM into their existing workflows. The platforms often include design tools and simulation software tailored to specific applications.
- Advances in metal powder production and quality control are making a significant impact on the AM industry. High quality and specialized metal powders are becoming more readily available, enhancing the performance and capabilities of AM systems.
- Companies are focusing on developing efficient post processing solutions, such as surface finishing and heat treatment, as the demand for high quality, finished AM parts is increasing.
- Combining traditional subtractive manufacturing with additive processes is gaining popularity, especially for large and complex components. The approach allows for improved surface finish and cost savings.
Trends for Metallurgical Additive Market
- Research and development in metallurgical additive materials are ongoing, allowing for the production of high performance and specialized alloys for various applications, which expands the range of industries that could benefit from additive materials.
- The technology allows for the rapid and cost effective production of prototypes and highly customized parts, which is particularly valuable in industries such as aerospace and healthcare.
- Automation in AM processes, including post processing and quality control, is becoming more prevalent, which increases efficiency and makes AM more attractive for high volume production.
- The adoption of AM in various industries is leading to the development of specialized applications. For instance, in the healthcare industry, custom medical implants and orthopedic devices are being produced using AM.
Global Market for Metallurgical Additive: Regional Outlook
Various reasons are propelling the growth of the metallurgical additive market in different regions. The regions include,
- The Asia Pacific region is known for its robust manufacturing and industrial sectors. Metallurgical additive manufacturing becomes a valuable option for producing complex and customized components, as industries in this region continue to evolve and seek advanced manufacturing solution.
- Governments and private companies in countries like China, Japan, and South Korea have been investing significantly in research and development related to additive manufacturing technologies. The investments drive innovation and technology development in the AM sector.
- North America is home to a robust aerospace and defense industry, which has been a major adopter of metallurgical additive manufacturing. The technology allows for the production of lightweight, complex, and high performance components, aligning with the needs of these industries.
- North America has a mature and supportive ecosystem for additive manufacturing, including material suppliers, software developers, service providers, and industry associations, which further enhances the growth of the industry.
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Some key developments by the players in this market are:
|Company Name||Key Developments|
Global Metallurgical Additive Market Segmentation
- Calcium Aluminate
- Aluminum Silica Based Slag
- Non Ferrous
- End Use
- Building & Construction
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
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