28-Jun-16 The global 3D printing powder market is estimated to be US$265.5 mn in 2016, as per MicroMarket Monitor, and is expected to cross US$700 mln within 5 years, at a CAGR of 24.4%.
3D printing or additive manufacturing is mainly employed in aerospace & defense industry, which requires much precision and quality products. Powder based printed products are widely accepted by these industries due to their high compressibility and durability. Atomized metal powders are used for these applications. The second-largest user of 3D printing is the automotive industry. Manufacturers are utilizing 3D printing technology to optimize automobile production lines, as it helps save time and prevent cost overruns. Similarly, 3D printing is a boon for the medical & dental industry as the technology is used for bone implants, dental implants, and surgical operations.
The growth of the global 3D printing powder market is primarily triggered by the expiry of key patents for powder based additive manufacturing in the year 2014. The expiry of these patents will allow many new players to venture into emerging applications for 3D printing. Development of 3D printing technology had been confined to North America and Europe due to restrictive knowledge transfer and key patents held by major companies present in these region. However, 3D printing technologies have been slowly moving into the manufacturing sector of major countries in Asia-Pacific region. This study highlights important developments in Asia-Pacific region which will steer the demand for 3D printing powders in the next five years.
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