Additive Manufacturing With Metal Powders Market Key Opportunity, Analysis, Growth, Trends 2030

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Additive Manufacturing With Metal Powders Market
2022 Global Analysis and Forecast to 2030
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Global Market Scenario of Bioglass Fiber Industry
Global Additive Manufacturing with Metal Powders
Market size is expected to exceed USD 1,825
million by 2030. Rising demand for lightweight
aerospace automotive components coupled with
the rapidly growing medical sector across
emerging economies such as China and India is
anticipated to positively influence the market.
Additionally, rising vehicles production coupled
with an increasing focus towards developing
fuel-efficient and lightweight vehicles should
drive market growth. As per market analysis,
some key findings of the additive manufacturing
with metal powders market report include Powder
bed manufacturing technique is projected to grow
with a CAGR of over 21.5 during the forecast
timeframe owing to its low production cost and
flexibility of a broad range of material
selection.
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Other steel materials such as high-speed steel,
tool steel and low alloy steel are expected to
surpass USD 53.5 million by the end of 2030 as
they offer great corrosion resistance and high
toughness after heat treatment. Key players in
the additive manufacturing with metal powders
market are focusing on adopting several strategic
initiatives such as mergers acquisitions,
partnerships, and collaborations to cater the
increasing demand for additive manufacturing with
metal powders across the globe. North America
accounted for a significant share in the additive
manufacturing with metal powders market in 2021
and is anticipated to grow with a CAGR of over
20.5 owing to developed healthcare, aerospace,
and automotive sector in the U.S. Additive
manufacturing with metal powder market from other
manufacturing techniques exceeded USD 9.5 million
in 2021 and is expected to witness a growth of
over 8.5 in the forecast period.
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The stainless steel material market exceeded
USD 67.5 million in 2021 and is expected to
witness a growth of over 27.5 in the forecast
period. Stainless steel is resistant to staining
and corrosion and requires low maintenance. Thus,
the use of stainless steel has increased
significantly from the automotive, aerospace, and
oil gas industries, this, in turn, drives the
market growth. Austenitic steel is widely used in
aerospace, medical, and heavy industries like oil
gas owing to its superior formability and
corrosion resistance properties. The medical
application surpassed USD 64.0 million in 2021
and is expected to witness a growth of over 21.5
in the forecast period. Healthcare experts are
focusing on additive manufacturing for implants
as medical devices produced through traditional
methods are costly and require complex and
time-consuming manufacturing processes.
Increasing production of medical devices such as
orthopedic implants, cranial implants, dental
restorations such as crowns, onlays inlays,
external prosthetics, and surgical instruments
drives the market growth.
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Competitive Analysis
Asia Pacific additive manufacturing with metal
powders market exceeded USD 62.5 million in 2021
and is anticipated to grow at a significant pace
at over 21.5 CAGR up to 2028. Growing automotive
business due to rising initiatives of government
sector along with increased usage of additive
manufacturing in human cells to treat incurable
diseases in China and Japan is likely to favour
regional industry growth. It is an additive
manufacturing technique where a liquid binding
agent is selectively deposited to join metal
powder particles. The binder jetting process is
capable of printing on ceramics, sand, and metals
with fast processing time and a cost-effective
production process, thus driving product demand.
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