DUBLIN, June 14, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Metal Additive Manufacturing Market 2016-2020" report to their offering.
The global metal additive manufacturing market to grow at a CAGR of 24.47% during the period 2016-2020.
Global Metal Additive Manufacturing Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Metal additive manufacturing is a technique in which a scanned or digitally designed object is formed into a 3D solid using an additive process. In this process, metal powder is applied in successive layers with little wastage and subject to a concentrated energy source that melts and shapes the metal. Additive manufacturing products can be built from various materials, plastic and metals being the most common materials.
A trend boosting market growth is the increase in demand for aircraft engines from OEMs. Advances in CAD, materials, and technologies used in additive manufacturing is increasing the use of printed parts for functional use in engines. Steel, nickel, aluminum, titanium, and their alloy combinations are being upgraded for additive manufacturing.
According to the report, a key growth driver is the increase in use of metal additive manufacturing in industrial applications. Metal additive manufacturing helps produce complex shapes at a shorter lead time. Therefore, it is widely employed for prototyping. Various industrial end-users are service bureaus, research institutions, and the aerospace industry. Some of the highly valued and advanced products from metal additive manufacturing are aero engines and turbine components.
Further, the report states that one challenge that could restrict market growth are high production costs. The costs of additive technology for industrial use are higher than for conventional methods of production such as casting. High machine costs, expensive metal powders, and slower build rate makes metal additive manufacturing expensive.
Metal additive manufacturing offers the following advantages over traditional manufacturing:
- Design flexibility
- Shorter lead time
- Less wastage
- Less assembly requirements
- Lower total cost of ownership
- SLM Solutions
Other prominent vendors
- Concept Laser
- Phenix Systems
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by end-user
Part 07: Market segmentation by technology
Part 08: Regional segmentation
Part 09: Market drivers
Part 10: Impact of drivers
Part 11: Market challenges
Part 12: Impact of drivers and challenges
Part 13: Market trends
Part 14: Vendor landscape
Part 15: Key vendor analysis
Part 16: Appendix
For more information visit http://www.researchandmarkets.com/research/f7bhvq/global_metal
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SOURCE Research and Markets