The powder bed fusion 3D printing technology market is projected to grow at a CAGR of 22.43% during the forecast period. Powder bed fusion is advanced additive manufacturing (AM) technology. PBF utilizes either a laser or an electron beam fusion method that has the capability to melt and fuse the material powder. In the latter method, a vacuum is required to create functional parts using metals and alloy. The prime reason which is projected to drive the market growth during the forecasted period is surging investment in R&D and technology advancement across various industries verticals to enhance productivity and enable better performance at a lower cost. Power bed fusion 3D technology enables the construction of small and essential parts which are effective in operations.
Power bed fusion laser beam and electron beam are calculated to dominate the market at growing at an exponential rate during the forecasted period.
Based on technology, the printing style includes multi-jet fusion, selective laser sintering, electronic beam melting, and direct metal laser sintering or selective laser melting. Electronic beam melting powder bed fusion 3D printing technology is projected to grow at a noteworthy rate during the forecasted period owing to robust application across industry end-users. Laser beam Power Bed Fusion technology is calculated to grow at an exponential rate with an increase in technology adoption. Analyst at AMPower Firm calculated and reported that globally, the installed power bed fusion-laser beam (PBF-LB) and powder bed fusion- electron beam (PBF-EB) machines stood at 9,111 at the end of 2019, of which 510 were PBF-EB, accounting for 6% of the market. Furthermore, the rising adoption of the technology is expected to provide a significant market growth opportunity for the technology.
PBF technology, by type, 2019.
The automotive, Aerospace, and Defence industries are projected to provide robust opportunities for PBF-based 3D printing technology.
Based on end-users, the PBF-based 3D printing technology is segregated into automotive, healthcare, aerospace and defense, and others. The automotive, Aerospace, and Defence industries are projected to provide robust opportunities for the market. Robust demand in the industry along with increasing investment and technological advancement are factors that are expected to promote the adoption of PBF 3D printers. Furthermore, the cost-effectiveness and efficient production of these printers is anticipated to increase the market prospects.
In the aerospace industry, the surge in tourism and trade is expected to increase the demand for aircraft and hence the application of 3D printers in production. Data from World Bank Database shows that the number of tourist arrivals, globally, increased from 1.668 billion in 2010 to 2.28 billion in 2019. Booming tourism has surged the number of flights and hence the requirement for aircraft. Furthermore, contracts and ventures between aviation and PBF 3D printer manufacturers ensure market stability. GE for instance has contracted with Emirates to deliver its aircraft engines. The company also partnered with Israel Aerospace Industries (IAI) to launch Boeing 777-300 ERSF. Increasing investment in the industry opens the significant potential for the market.
number of tourist arrivals, global, in million.
Source: World Bank Database
The healthcare industry is also expected to show significant growth with a surge in investment and technological advancement. In the healthcare industry, the technology is used to develop models for education and study and in the production of medical tools such as implants and others. The increasing geriatric population globally is projected to increase the demand for implants such as dental implants, providing significant growth opportunities for the market. Data from World Bank Database shows that the population aged 65 and above reached 722 million in 2020 and is estimated to increase to 1.5 billion by 2050. Growth in the aged population is estimated to provide stable growth prospects for the market.
population, 65 and above, in million.
Source: World Bank Database
January 2020, Construction. Boeing’s new aircraft 777X made its first and successful maiden flight in early January 2020. The aircraft is powered by General Electric GE9X engines, which is developed using GE’s Electron Beam Power Based Fusion 3D printing technology. The turbine blades in the GE9X engines are constructed through the precision of PBF-EB technology and have delivered promising results. The development of Boeing’s engines through GE PBF-EB technology is expected to open new opportunities for the market in the aerospace industry.
March 2021, Innovation. Stratasys Ltd. announced the details of its upcoming range of power bed fusion-based 3D printers, the H Series SAF technology, which is powered by Selective Absorption Fusion Technology. The series is advanced industry-grade AM technology that has the capability to throughput the end parts. The development of this series is based on 10 years of research by the company, which can deliver a high production yield at a competitive cost per part. As per the company’s press release, the commercial availability of this series is expected to be in the 3rd quarter of 2021.
|Growth Rate||CAGR of 22.43% during the forecast period|
|Forecast Unit (Value)||USD Million|
|Segments covered||Component, Technology, End-Users, And Geography|
|Companies covered||EOS, 3D Systems Inc., SLM Solutions Group AG, Renishaw plc, HP Development Co. L.P., General Electric, Additive Industries, Formlabs, Prodways Group, Stratasys Ltd.|
Key Market Segments
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the powder bed fusion 3D printing technology market?
A1. Powder Bed Fusion 3D Printing Technology Market is expected to grow at a CAGR of 22.43% over the forecast period.
Q2. Who are the major players in the powder bed fusion 3D printing technology market?
A2. Prominent key market players in the powder bed fusion 3D printing technology market include EOS, 3D Systems Inc., SLM Solutions Group AG, Renishaw plc, HP Development Co. L.P., General Electric, among others.
Q3. How is the global powder bed fusion 3D printing technology market segmented?
A3. The powder bed fusion 3D printing technology market has been segmented by component, technology, end-user, and geography.
Q4. What factors are anticipated to drive the powder bed fusion 3D printing technology market growth?
A4. The prime reason which is projected to drive the powder bed fusion 3D printing technology market growth is the surging investment in R&D and technology advancement across various industries verticals to enhance productivity and enable better performance at a lower cost.
Q5. What is the base year considered in the powder bed fusion 3D printing technology market report?
A5. 2019 has been taken as the base year in the powder bed fusion 3D printing technology market report.