Additive Manufacturing with Metal Powders Market to Witness Steady Growth of 18%
Selbyville, Delaware, United States, September 8 2020 (Wiredrelease) Global Market Insights, Inc –:By the year 2026, the Additive Manufacturing with Metal Powders Market is predicted to reach over USD 970 million. The utilization of additive manufacturing with metal powders is gaining prominence in various industries including aerospace, medical, and automotive
The manufacturing sector is witnessing a plethora of R&D initiatives and technological advancements to decrease the time spent on manufacturing goods. This will create massive revenue prospects for additive manufacturing technique which facilitates faster product designing and reduces overall operational cost and duration.
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The COVID-19 crisis has led to a decline in the overall additive manufacturing with metal powder market growth in 2020. However, the industry is expected to gradually recover after the pandemic passes. The growth across industries is expected to be uneven and will depend on the scalability of the technology in various verticals.
Due to the pandemic, additive manufacturing has most been hit in the automotive and aerospace sectors. However, additive manufacturing in medical industry has seen a silver lining in the times of crisis, leveraging the capability of the technology for meeting urgent healthcare needs.
How will additive manufacturing with the metal powder market derive gains from the aerospace industry?
Several high-tech aircraft components for jet engines, turbine parts, and fuselages are manufactured using additive manufacturing. The high flexibility in production helps manufacturers create light-weight components that help in decreasing fuel emission and thus reducing the overall costs. As per the report, additive manufacturing with metal powders market from aerospace application is forecast to witness a y-o-y growth of 24% through 2026.
How will the demand for additive manufacturing with metal powders fare across Europe?
The demand for additive manufacturing with metal powders in Europe is mainly influenced by the rising emphasis by EU regulations on minimizing vehicular weight to improve fuel efficiency and control emission. The region having held a revenue of USD 135 million in 2019, is expected to witness a double-digit growth rate of 19.5% through 2026. Expanding automotive sector and demand for lightweight vehicle components will further contribute to the market trends.
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The Asia Pacific market is also expected to witness substantial revenue opportunities with a target market share of USD 170 million by 2026. Rising adoption of 3D printing technology by Chinese manufacturers as a reasonable way to produce quality parts along with favorable government policies will boost APAC industry growth.
3D Systems Corporation, Aubert & Duval S.A, Additive Industries, Airbus SE, Additive Industries., Aerojet Rocketdyne, AS America, Inc, Allegheny Technologies and APWorks are the major players in additive manufacturing with metal powders market. As a part of establishing a strong stance in the market, the companies are incorporating strategic initiatives such as M&As, collaborations, regional & product expansions, etc.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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