The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the 3D Printing Powder Market.
It was estimated prior to this unanticipated outbreak that the 3D Printing Powder Market was expected to grow at a CAGR of 22.4% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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3D printing powders are used in powder bed and inkjet 3D printing for rapid prototyping and additive manufacturing technology. The technology is used to produce components and parts through description by digital data.
3D printing powders are of different types, such as metal powder, plastic powder and ceramic powder, that are used in various end-use industries, such as aerospace, defense, automotive, medical & dental, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the product type, the market is segmented as metal, plastic, and ceramics. The metal segment held the largest share of the market in 2019, and is expected to maintain its legacy during the forecast period. The wide use of metal powder for 3D printing in aerospace & defense and automotive applications, owing to its rigid structure and high resistance to corrosion, is driving the growth of the metal segment.
Based on the application type, the 3D printing powder market is segmented as aerospace & defense, automotive, medical & dental, and others. The aerospace & defense industry segment dominates the market, as major airbus manufacturing companies are increasing the use of 3D printing powder in the production of jet engines and engine components.
In terms of regions, North America is estimated to be the largest as well as fastest-growing market for 3D printing powder during the forecast period, with the United States being the major country with lucrative growth opportunities. The growth of the market is driven by technological superiority, well established infrastructure, and high investment capacity of the region. Europe and Asia Pacific are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
Some of the major players in the 3D printing powder market are-