3D Printing Powder Market to Grow by US$ 2.61 billion During 2022-2028 Exclusive Report by The Insight Partners

The 3D printing powder market valued at US$ 1.11 billion in 2022; registering at a CAGR of 15.2% from 2022 to 2028, according to a new research study conducted by The Insight Partners.

Increasing Applications in Aerospace & Automobile Industry Boost 3D Printing Powder Market Growth

3D printing or additive manufacturing uses the powdered form of the material by the printers. These powdered amorphous materials are used as inks for creating 3D objects. The process of 3D printing is done by depositing a fine layer of powder and is based on a design cross-section selected and put through the laser exposer, where the particle melts and sinter together. Pure metals, including platinum, silver, gold, and palladium, are commonly used to create various types of 3D printing powder. The demand for 3D printing powders is increasing in the construction & manufacturing industries due to their qualities, such as high compressibility, density, good surface area, flowability, and thermal properties.

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Major key players covered in this report:
Nippon Gases, Erasteel, Stanford Advanced Materials, Höganäs AB, GKN Sinter Metals Engineering Gmbh, Sms Group Gmbh, Astro Alloys Inc, Evonik Industries AG, Sandvik AB, and Markforged are a few key players profiled in the study of the 3D printing powder market. Several other major companies were analyzed in this research study to get a holistic view of the market and its ecosystem.

The wide application of 3D printing powder in the medical industry is one of the major factors driving the growth of the 3D printing powder market. 3D printing powder finds applications in the automobile sector in the form of housing and brackets, tire molds, transmission plates, control valves and pumps, cooling vents, body panels, dashboards, turbochargers, seat frame prototyping, bumpers, and other engine components. Furthermore, during the COVID-19 pandemic, HP Inc. partnered with Beth Israel Deaconess Medical Center (BIDMC) to develop and clinically validate 3D-printed Nasopharyngeal swabs. Such steps toward innovative product development have boosted the growth of the 3D printing powder market.

3D printing powder is utilized in various additive manufacturing methods, with a majority of applications in the aerospace, automotive, and defense industries. GE Aviation, EOS GmBH, 3D Systems Inc., and various major aircraft component manufacturers are developing products using 3D printing. 3D printing helps the aircraft construction sector save production time. The developments in the automotive & aerospace sectors fuel the growth of the 3D printing powder market.

Based on type, the 3D printing powder market is segmented into metal, plastic, ceramic, and others. The plastic segment is expected to register the highest CAGR from 2022 to 2028. Plastics are engineered polymers primarily used for their unique thermal and mechanical properties. 3D printing plastic materials have a low melting point, making them ideal and easy to use in small and narrow spaces. Numerous industrial and consumer goods, including eyeglasses, a carbon fiber bike, mascara brushes, helmet liners, insoles, and eyewear use plastics in the 3D printing powder market. Plastic is a lighter material than metal, which helps build fuel-efficient vehicle components. Personal protective equipment (PPE), isolation wards, and medical equipment are a few products developed using 3D printing. Owing to these benefits, the plastic segment dominates the 3D printing powder market.

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The large investments in the healthcare sector and start-ups bolster the growth of the 3D printing powder market. During the forecast period, an increase in investments in the 3D printing industry by technologically advanced start-ups and government agencies is expected to boost the market expansion during the forecast period. Furthermore, increased technological improvements in the 3D printing market would propel the market growth in the coming years. Moreover, as development costs decrease, powder-based 3D printing will become accessible to industries. Numerous industrial processes, notably in the manufacturing industry, have been changed by 3D printing or additive manufacturing.

The technology fosters innovation and breakthrough technologies due to 3D printing powder's unmatched capacity to increase speed-to-market, save costs, and tailor unique parts. The key benefits of 3D printing powder are it allows businesses to internally prototype electrical devices and PCBs, which reduces the requirement for external PCB fabrication services. The 3D printing powder market is anticipated to increase over the projected period due to the rising range of applications for 3D printing across several sectors.

Reason to Buy:
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global stainless steel, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

This release was published on openPR.