North America Additive Manufacturing with Metal Powders Market Analysis

North America Additive Manufacturing with Metal Powders Market Analysis

Powder bed manufacturing technique segment surpassed USD 115 million in 2020 and is anticipated to show growth of 21% of CAGR in the forecasted period. Increasing adoption of powder bed fusion technique for 3D printing owing to its various advantages including reduced cost, less material wastage and efficient recycling of un-melted powder should boost product consumption in turn accelerating the North America additive manufacturing with metal powders market share.

Growing use of 3D printing to design customized products mainly in automotive, healthcare, and aerospace & defence industries along with rising government Investments in 3D printing projects is propelling the growth of 3D printing industry in the region, this, in turn, leads to high demand for additive manufacturing with metal powders.

The Direct Metal Laser Sintering (DMLS) manufacturing technique segment is projected to reach USD 620 million by 2030. Increasing usage of DMLS technology for 3D printing of metal parts owing to its ability to form complex geometries accurately should foster product demand. Increasing demand for metal parts for building & construction use and expansion of the construction sector in the U.S. has led to significant growth in the metal industry, which should accelerate demand for Direct Metal Laser Sintering (DMLS) manufacturing techniques.

Selective Laser Melting (SLM) manufacturing technique segment should grow with the CAGR of over 19.5% in the forecast period. Increasing use of metal powder such as stainless steel, titanium and its alloy and aluminium alloy for selective laser melting technique should augment the additive manufacturing with metal powders market revenue in North America region.

The stainless-steel material segment is anticipated to surpass USD 250 million up to 2030. Stainless steel is widely used in industries such as automotive, consumer goods and construction industry owing to its hardness, good stability and resistance to corrosion to diluted acids which reduces maintenance cost. Stable economic growth and higher expenditure of consumers on automotive and consumer goods will propel the growth of automotive, consumer goods and construction industries.

Austenitic steel segment is anticipated to show growth of over 25.0% CAGR in the forecasted period owing to its advantage to the environment and increasing application in medical and aerospace which will propel North America additive manufacturing with metal powders market sales.

The martensitic steel segment is projected to reach USD 170 million by 2030. Surging demand from construction and automotive industries along with advantages offered by martensitic steel such as low cost and corrosion should foster its demand over the forecast period.

Aerospace application segment surpassed USD 55 million in 2020 and is anticipated to show growth of 22.5% of CAGR in the forecasted period. Increasing use of additive manufacturing technology for 3D printing of various components of aircrafts such as cabin interior components, landing gear, turbine parts and jet engines should boost product demand. High focus on producing lightweight and more efficient aircraft along with growing demand for commercial aircrafts drives the U.S. aerospace industry.

The U.S. in North America additive manufacturing with metal powders market is projected to register gains over 20% CAGR in 2021 to 2030. Increasing focus of U.S. region to increase its contribution to global renewable energy industry is driving the regional market. The product is used to manufacture components of wind energy turbines by additive manufacturing technology. Moreover, rising efforts of North American region to meet rising power demand using renewable energy resource should drive product demand for renewable energy applications in turn accelerating industry growth in the forecasted time period.