3D-Printed Metal Parts Market Size, Share & Growth

Q: What would be the growth of the 3D printed metal parts market in the coming five years

The 3D printed metal parts market is estimated to grow at an impressive CAGR of 302 by 2028 Several advantages offered by 3D printing such as lighter parts enhanced part performance optimizes fuel consumption reduces emissions economical to produce complex geometries and less material wastage combined with the gradual recovery in air passenger traffic growing automotive production and medical devices market drive the demand for 3D printed metal parts market

Q: Who are the key players in the market

GKN Powder Metallurgy A Melrose Plc Company GE Additive Part of General Electric Stryker MTU Aero Engines AG Sandvik AB Oerlikon and TRUMPF are the leading players in the market

Q: Which region is estimated to grow at the fastest pace in the market in the coming years

Asia Pacific is estimated to remain the fastest growing market for 3D printed metal parts in the foreseeable future China Japan and India are among the key countries to adopt 3D printing technology in the Asia Pacific region

Q: Which end use industry type is estimated to remain dominant in the market in the coming years

Aerospace Defense is expected to remain the largest end use industry type over the next five years Key applications are fuel injectors blades combustor liners ducts rocket engine manifolds brackets functional prototypes etc

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Report Summary

Table of contents

Market Insights

"The global 3d-printed metal parts market is expected to grow at an impressive CAGR of 30.2% over the next five years to reach an annual market size of US$ 43.9 billion in 2028."

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Metal 3D printing involves the sintering or melting of metal powders to make any object or shape. Steel, cobalt alloys, nickel alloys, titanium alloys, aluminum alloys, precious metals, and refractory materials are major types of metals used. It involves different methods, such as powder bed fusion, blown powder, binder jetting, and material jetting, to manufacture lightweight, reliable, and complex metal parts for various industries.

3D-Printed Metal Parts Market Report Overview
Market Size in 2028	USD 43.9 Billion
Market Growth (2023-2028)	CAGR of 30.2%
Base Year of Study	2022
Trend Period	2017-2021
Forecast Period	2023-2028

Market Dynamics

Market Drivers

The 3D-printed metal parts market experienced a slow growth of 1.4% (YoY) in 2020 due to the pandemic. In 2021, the market recuperated at an impressive rate fueled by the combined effects of the gradual recovery in air passenger traffic, higher penetration of 3D-printed parts in the medical industry during and after COVID-19, and an increase in automotive production. The market is likely to maintain its growth momentum.

Key benefits of 3D printing are lighter parts, enhanced part performance, optimized fuel consumption, reduced emissions, economical production of complex geometries, and less material wastage. Along with these advantages, growing acceptance of 3D printing technology in different end-use industries, expected increase in the production rate of key programs (A320neo, B737 Max, A220, B787, and A350XWB), increase in automotive production, and the growing medical devices market are likely to give an impetus to the demand for 3D-printed metal parts in the coming years.

Recent Market JVs and Acquisitions:

In 2021, Desktop Metal acquired ExOne, a leading additive manufacturing company with a transaction value of US$ 561.3 million.
Also, in 2021, Proto Labs, Inc. acquired 3D Hubs, Inc. for an aggregate closing consideration of US$ 280 million. The acquisition helped Proto Labs, Inc. to provide industry-leading digital manufacturing solutions from idea to prototype to full end-use part production.
Stryker acquired Wright Medical Group N.V., a global medical device company in 2021, with an enterprise value of US$ 5.4 billion (approx.). Wright Medical Group N.V. is one of the leading players in 3D-printed ankle replacements.
In 2018, ATI acquired Addaero Manufacturing, latter is one of the leaders in metal alloy-based additive manufacturing for the aerospace & defense industry.

Segments' Analysis

Segmentations	List of Sub-Segments	Dominant and Fastest-Growing Segments
Metal-Type Analysis	Steel, Nickel Alloys, Titanium Alloys, Aluminum Alloys, Cobalt Alloys, and Others	Titanium alloy held >30% of the market share in 2022 and its dominance is projected to continue in the forecasted period.
Manufacturing Process-Type Analysis	Powder Bed Fusion, Blown Powder, and Others	Powder bed fusion held >40% of the market in 2022 and is likely to maintain its lead over the next five years.
End-Use Industry-Type Analysis	Aerospace & Defense, Medical, Automotive, Energy, and Others	Aerospace & defense is expected to remain the largest and fastest-growing end-use industry type in the market during the forecast period.
Regional Analysis	North America, Europe, Asia-Pacific, and Rest of the World	North America is expected to remain the largest market for 3D-printed metal parts during the forecast period.

By Metal Type

"The titanium alloy segment accounted for the largest market share."

The market is segmented into steel, nickel alloys, titanium alloys, aluminum alloys, cobalt alloys, and others. Titanium alloy held >30% of the market share in 2022 and its dominance is projected to continue in the forecasted period. Due to their lightweight, low thermal conductivity, high mechanical strength, and lower buy-to-fly ratio, they are preferred for the aerospace industry. Key applications for aerospace are airframes, wing structures, compressor blades, rotors, brackets, and other turbine engine components. Aluminum alloys, under the spotlight, are expected to record the highest growth during 2023-2028.

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By Process Type

"The powder bed fusion segment accounted for the largest market share."

The market is segmented into powder bed fusion, blown powder, and others. Powder bed fusion held >40% of the market in 2022 and is likely to maintain its lead over the next five years, owing to key advantages, such as reduced material wastage, improved production development time, efficient recycling of unmelted powder, and good resolution compared to other processes. Blown powder is likely to gain traction in the market during the forecasted period.

By End-Use Industry Type

"The aerospace & defense segment accounted for the largest market share."

The market is segmented into aerospace & defense, medical, automotive, energy, and others. Aerospace & defense held >60% of the market share in 2022 and is expected to remain the largest and fastest-growing end-use industry type in the market during the forecast period, owing to the increasing demand from aerospace engine component manufacturers due to 3D printing’s high precision, accuracy, and ability to print complex geometries. In the aerospace industry, metal 3D printing is used in a wide range of applications, from functional prototypes to tooling, replacement parts, and structural aircraft components.

Regional Analysis

"North America accounted for the largest market share."

North America held > 40% of the market share in 2022 and is expected to remain the largest market for 3D-printed metal parts during the forecast period. The USA had the world's largest 3D-printed metal parts market, followed by China and Germany in 2022. Asia-Pacific is estimated to mark the highest growth during the forecast period. China is the dominant 3D printing market in the region, driven by the “Additive Manufacturing Industry Development Action Plan” by the Chinese government.

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Key Players

The market is fairly consolidated with the presence of some regional and global players. An inorganic growth strategy is preferred, especially by the leading players. Several crucial M&As led to several changes in the competitive landscape. The following are the key players in the 3D-printed metal parts market.

GKN Powder Metallurgy (A Melrose Plc Company)
GE Additive (Part of GE Electric)
Stryker
MTU Aero Engines AG
Sandvik AB
Oerlikon

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s 3D-printed metal parts market realities and future market possibilities for the forecast period. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 8 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Key questions this report answers	Relevant contents in the report
How big is the sales opportunity?	In-depth Analysis of the 3D-Printed Metal Parts Market
How lucrative is the future?	Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?	Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?	Market Segment Analysis and Forecast
Which are the top players and their market positioning?	Competitive landscape analysis, Market share analysis
How complex is the business environment?	Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?	Drivers & challenges
Will I get the information on my specific requirement?	10% free customization

The 3D-printed metal parts market is segmented into the following categories:

By Metal Type

Steel
Nickel Alloys
Titanium Alloys
Aluminum Alloys
Cobalt Alloys
Others

By Manufacturing Process Type

Powder Bed Fusion
Blown Powder
Others

By End-Use Industry Type

Aerospace & Defense
Medical
Automotive
Energy
Others

By Region

North America (Country Analysis: The USA, Canada, and Mexico)
Europe (Country Analysis: Germany, The UK, France, Russia, and Rest of Europe)
Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
Rest of the World (Country Analysis: Brazil and Others)

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]

Frequently Asked Questions (FAQs)

What would be the growth of the 3D-printed metal parts market in the coming five years?

The 3D-printed metal parts market is estimated to grow at an impressive CAGR of 30.2% by 2028. Several advantages offered by 3D printing, such as lighter parts, enhanced part performance, optimizes fuel consumption, reduces emissions, economical to produce complex geometries, and less material wastage combined with the gradual recovery in air passenger traffic, growing automotive production, and medical devices market, drive the demand for 3D-printed metal parts market.