According to a recent study from market research firm Graphical Research, the Europe additive manufacturing with metal powders market size is set to register a significant growth during the forecast timeframe, due to widespread product applications across end-use sectors such as automotive and oil & gas.
As additive manufacturing is an industrial 3D printing technology that uses machine equipment, growing adoption of software and stacking material to create 3D objects is driving practice adoption. The technology is now widely used for the manufacture of medical implants, autos, aircrafts, and other products.
Europe additive manufacturing with metal powders market size is poised to be valued at $435 million by 2024. The last several years have been especially interesting for the market, as new metal 3D printing production concepts have been developed by industry leaders. Major manufacturers operating in the industry are Advanced Powder & Coatings, Additive Industries, Aubert & Duval and Airbus and APWorks. With the industry moving toward increased automation and flexibility, United Kingdom additive manufacturing with metal powders market share from 3D printing applications is expected to reach 18 tons by 2024.
Metal powders with superior attributes such as durability, welding properties, and corrosion resistance are increasingly being used in automotive manufacturing. Novel breakthroughs in the additive manufacturing techniques, as well as advances in sophisticated materials, could assist the automotive in faster production. In addition, the technology may be utilized to create more efficient automobiles that are quicker, safer, and lighter. Consumer preferences for high-performance vehicles, together with stringent government regulations on carbon dioxide emissions, are expected to drive fast paced product adoption.
Europe additive manufacturing with metal powders market share from blown powder technology is expected to reach the valuation of $45 million by 2024. Its characteristics, such as high powder deposition and large part cladding, allow it to be used in the aerospace, automotive, and industrial & tooling sectors.
Quoting an example from 2020, NASA has been experimenting with blown powder directed energy deposition as part of their Rapid Analysis and Manufacturing Propulsion Technology (RAMPT) project. The project is supported by NASA’s Game Changing Development initiative and involves partners from throughout the agency. The team had previously experimented with production on a smaller scale. However, they were able to scale up the size of their creations thanks to Direct Energy Deposition (DED), having printed a rocket engine measuring 40 inches in diameter and standing 38 inches tall, with fully integrated cooling channels. Normally, a rocket assembly of this complexity would take a year to build using traditional welding processes. However, by combining the numerous elements into a single print, they were able to cut the build time down to only 30 days.
Russia additive manufacturing with metal powders market share from oil and gas applications is expected to grow with a CAGR of 17% through 2024. Several oilfield service businesses across the world are employing additive manufacturing to create metal components for a range of materials and equipment.
The chief drivers for AM adoption include unrestricted design flexibility, reduced lead times, and expedited product development through speedier prototype testing. Using AM in oil & gas operations allows for on-demand manufacturing and the removal of tooling and inventory expenses. Increasing use of additive manufacturing in the production of complex mechanisms for the oil and gas sector, decreased emissions, and improved performance, should drive product uptake through 2024.
You can find the full study HERE.
For more information about Graphical Research, please visit www.graphicalresearch.com.