SmarTech Analysis has released its latest report, “The Market for Metal Additive Manufacturing Services,” which analyzes and forecasts revenues for metal additive manufacturing service companies.
In this new report, SmarTech Analysis has pegged revenues for Metal AM Services at US$3.8 Billion for the year 2023, rising to US$16.1 Billion by 2031. In view of current economic and geopolitical conditions, SmarTech has revised its forecasts down by about 20 percent from its report on metal additive services almost three years ago.
These projections include forecasts for the revenues from core rapid manufacturing and prototyping services as well newer value-added services such as design services, training and non-AM manufacturing.
Medical opportunities going forward include metal implants using Ti64, pure titanium or cobalt chrome alloys. These provide the combined advantages of light weight, biological inertness, and their ability to function as a load bearing product. Doctors and hospitals do not have the knowledge to do medical 3D printing in house. Hence these end users turn to bureaus to build the 3D printed items that they need. There is considerable opportunity growth here since very few metal service providers which specialize in medical products.
Another area of potential for metal service bureaus is the oil and gas industry. Many non-specialist metals-oriented service bureaus work for the oil and gas industry from time to time, but few of them mention it. SmarTech believes that specialized oil and gas 3D printing service bureaus are likely to become more common as demand for 3D printed components increases. If AM can speed up delivery times for spares and repairs, this will be highly valuable, since the cost of a rig being out of service is extremely high.
The full report can be found here.
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