ALBANY, New York, Aug. 19, 2019 /PRNewswire/ -- The global metal powders for additive manufacturing market is likely to ride high on the back of burgeoning demand from various end-use industries, especially automotive and aerospace. Manufacturers of metal powders are looking for avenues to form strategic partnerships with OEMs of various end-use industries.

BÖHLER Edelstahl GmbH & Co KG, Sandvik AB Hitachi Chemical Co. Ltd., Carpenter Technology Corporation, ATI Powder Metals, and Metaldyne Performance Group Inc. are some of the prominent companies of the global metal powders for additive manufacturing market.

A report on global metal powders for additive manufacturing market by Transparency Market Research projects that market will clock 22.4% CAGR during the review period, from 2017 to 2025. Expanding at such a growth rate, the market will reach a valuation of US$1,783.9 Mn through 2025.

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Booming Automotive Industry to Boost the Growth of the Market in Asia Pacific

The global metal powders for additive manufacturing market is segmented into the primary regions of North America, Europe, Middle East and Africa, Asia Pacific, and South America.

Asia Pacific is projected to be one of the rapidly growing regions of the market. According to the findings of Statista, 40.7 mn units of passenger cars were sold in the region in 2017, and nearly 4.37 mn units of motor vehicles were produced in the ASEAN region in 2017. The automotive industry in the Asia Pacific region is witnessing a major boom, which is highly likely to spell growth of the metal powders for additive manufacturing market in the region.

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In addition to automotive, expansion of the construction industry is another growth factor for the market in Asia Pacific. The growth in the construction industry is ascribed to rapid urbanization & several suburban developmental projects in the region. These are prme factors fuelling the metal powders for additive manufacturing market.

Better Quality and Corrosion Resistance of Various Metals to Stimulate Market Growth

A wide variety of bronze, alloy steels, titanium, stainless steel, iron, steel, aluminum, and copper composites and alloys are utilized for the manufacturing of automotive components. In addition to that, electronic, electrical, and magnetic materials are also used.

Burgeoning demand for metal powders for additive manufacturing market across various end-use industries such as aerospace and automotive is stimulating the global metal powders for additive manufacturing market. These materials come with better quality than other alternatives, thus influencing the market positively. For instance, titanium is increasing being used in the form of metal powder, thanks to its excellent corrosion resistant and high tensile strength.

Lightweight components are in high demand in the automotive sector, which has resulted in the growing adoption of additive manufacturing. Lightweight materials have a crucial role to play in optimizing fuel economy, whilst maintaining performance and safety of the vehicle simultaneously. As compared to heavier vehicles, less energy is needed to accelerate a lighter car. In addition to fuel efficiency, lightweight vehicles also offer better performance.

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In addition to that, lightweight vehicles are easier to park in tight spaces and maneuver, while heavier vehicles feel clumsy and difficult to maneuver when driving. Lighter cars offer improved safety by virtue of its less weight.

Lighter vehicles perform much better in dangerous or poor road conditions, as the weight of the vehicle does not force it down, causing essential changes of direction. On such hazardous road conditions, driving heavier vehicles become difficult. Lightweight materials are gaining traction in the automotive industry due to improved accuracy, better life expectancy, and improved performance. Demand for lightweight components is likely to propel growth of global metal powders for additive manufacturing market.

On the other hands, the growth of the global metal powders for additive manufacturing market could be marred because metal powders are costly. Metal powders used in additive manufacturing are comparatively more expensive than the raw materials that are used in making them.

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The information shared in this review is based on a TMR report, bearing the title, "Metal Powders for Additive Manufacturing Market (Manufacturing Technique- Powder Bed (Direct Metal Laser Sintering, Selective Laser Melting, and Electron Beam Melting) and Blown Powder (Direct Metal Deposition and Laser Engineering Net Shapes); Material Type - Alloy (Titanium, Cobalt, Copper, Nickel, and Aluminum), Stainless Steel (Austenitic Steel, Martensitic Steel, Duplex Steel, and Ferritic Steel), and Other Steel (High Speed Steel, Tool Steel, and Low Alloy Steel); Application - 3D Printing, Rapid Prototyping, and Direct Digital Manufacturing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025"

The global hematology diagnostics market is segmented based on:

Manufacturing Technique

• Powder Bed
• Direct Metal Laser Sintering
• Selective Laser Melting
• Electron Beam Melting
• Blown Powder
• Direct Metal Deposition
• Laser Engineering Net Shapes

Material

• Alloy
• Titanium
• Cobalt
• Copper
• Nickel
• Aluminum),
• Stainless Steel
• Austenitic Steel
• Martensitic Steel
• Duplex Steel
• Ferritic Steel
• Other Steel
• High Speed Steel
• Tool Steel
• Low Alloy Steel

Application

• 3D Printing
• Rapid Prototyping
• Direct Digital Manufacturing

Region

• North America
• US
• Canada
• Europe
• Germany
• France
• Italy
• Spain
• U.K.
• Rest of Europe
• Middle East and Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa
• Asia Pacific
• China
• Japan
• India
• Australia & New Zealand
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America

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