3D Printing Powder Market rise to a revenue opportunity of US$1,558.9 mn by 2025
The global 3D printing powder market is prognosticated to experience a significant growth in the forecast period from 2017 to 2025. As far as the vendor scenario of the 3D printing powder market is concerned, it is densely packed with various organizations that manufacture powders conventionally for regular industrial procedures, for example, metal injection moulding (MIM), hot iso-static pressing (HIP), and powder sintering (PS).
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With the rising number of applications of for 3D-printed items the global 3D printing powders market is foreseen to grow at a robust pace offering a huge scope to local players and new entrants to progress in the coming years. Some of the major organizations in the market are Advanced Powders and Coatings Inc., Arcam AB, Metalysis, GKN plc, Hoganas AB, Carpenter Technology Corporation, Arkema, Sandvik AB, Ltd., LPW Technology Ltd.
According to a recent report by Transparency Market Research (TMR), with proactive investment strategies and geographical expansion methods, organizations working in the 3D printing powders market can profit from the regional and local markets in the near future. As indicated by the report, the worldwide 3D printing powder market was worth of US$313.7 mn in year 2016. This figure is estimated to reach around US$1,558.9 mn by the end of year 2025, depicting a noteworthy CAGR of 20.3% during the forecast period from 2017 to 2025.
Among several end-users, the aerospace and defence sector is a dominant one in the 3D printing powder market. Airbuses, missiles, and engine parts are the major application of 3D printing powder in the defence and aerospace industry. Geographically, the 3D printing powder market is dominated by North America region. It held around 38% of the overall market shares in terms of revenue in 2016.
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Rise in Additive Printing Technology to Fuel 3D Printing Powder Market Growth
The enormous rise in the use of additive printing technologies for manufacturing items that have a varied usage in the past few years is one of the main driving factors in the market. Use of 3D-printed items in various industries such as healthcare, defence, medicine, consumer goods, energy, electronics, automotive, and aerospace is also boosting the revenue in the market. Relentless growth of these industries and progress in 3D printing as far as dependability, finish, and qualitative value of the finished product is concerned is boding well for 3D printing powder market.
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