Titanium 3D Printing Material Market was valued at US$319.226 million in 2020 and is expected to grow at a CAGR of 25.61% over the forecast period to reach a total market size of US$1,577.389 million by 2027.
The method involves putting down thin layers of material, such as liquid or powdered plastic, metal, or cement and then fusing them together. Titanium is becoming one of the most intriguing printable metals as metal 3D printing progresses. Metal 3D printing has opened up a slew of new possibilities for production and rapid prototyping, with titanium quickly becoming a go-to material in various industries. Titanium has surpassed steel as the most extensively used metal in additive manufacturing, with applications including aircraft, joint replacements, surgical instruments, racing cars and bicycle frames, electronics, and other high-performance goods. Titanium and titanium-based alloys outperform stainless steels in terms of mechanical strength, strength-to-weight ratio, and corrosion resistance. It reduces the weight of rockets and planes, saving fuel and increasing cargo capacity. Several titanium-based additively produced parts that have been certified by the US FAA are now in commercial and military use, with many more prototypes on their way to certification. The low "buy-to-fly" ratio of 3D printed titanium is coveted in aerospace, referring to the weight connection between the original material and the weight of the printed item. This accounts for its increasing applications in the aerospace and military industry applications driving the titanium 3D printing material market growth.
Due to the metal's inherent biocompatibility and good mechanical properties, combined with 3D printing's ability to tailor porous structures enabling bone integration and mass customization for improved patient outcomes, 3D printed titanium implants have been successful in the medical industry across spine, hip, knee, and extremity applications. Both regulatory approval and demand are increasing for 3D-printed titanium implants. Most medical implants aren't a perfect match for everyone because they're designed to cover big groups of people with the same disease. People with uncommon diseases are frequently overlooked. With 3D printing, it is now feasible to create implants unique to each patient. Titanium 3D printing is finding a home in various sectors because of the advantages of decreased material waste and the capacity to build lightweight designs.
One of the primary reasons for the growth of the titanium 3D printing material market is the growing applications of titanium 3D printing across various industry verticals such as aerospace and defense, healthcare, and automotive. Titanium is perfect for high-performance industries such as aerospace and military because of its high strength-to-density ratio, superior corrosion resistance, and chemical resistance. Titanium alloys are utilized in applications that demand lightweight components with mechanical characteristics that can withstand high temperatures. Titanium is also recognized for its biocompatibility, making it an excellent material for medical applications such as implants. These factors account for the extensive use of titanium 3D printing in various end-user applications boosting its market growth.
A major restraint in the growth of the titanium 3D printing material market is the high cost associated with titanium material which proves to be a critical limitation to the market players and new entrants entering the market. Titanium material, which offers various benefits, is found to be expensive due to the fact that titanium is mined in tiny amounts, and processing raw titanium remains a difficult operation, making the metal significantly more expensive than other metals such as steel. This proves to be a crucial restraint anticipated to hamper the titanium 3D printing material market growth during the forecast period. Additionally, when it comes to machining, titanium may be a challenging metal to deal with. Titanium, for example, has poor heat conductivity. This implies that the heat created when machined, such as with a CNC machine, is stored in the CNC tool, potentially causing the tool to wear out fast. Furthermore, because machining includes cutting and removing material, it can result in a significant amount of waste. As a result, several firms seek improved ways to make titanium components.
The COVID-19 pandemic led to the interruption in production activities because of lockdown measures enforced in numerous countries. In addition, there have been supply chain disruptions and delays in the operations of enterprises. Trade barriers have restrained the stock. However, due to the high demand for medical components and equipment such as swabs, face masks, and ventilator splitters, titanium 3D printing material manufacturers, now provide their goods for printing medical things. Several end-users have altered their manufacturing priorities to meet medical emergency needs. This offers new possibilities for titanium 3D printing material in the medical business. The COVID-19 virus's adverse effects have had a critical impact on the titanium 3D printing material industry. However, in the post-COVID scenario, the titanium 3D printing material market is expected to bloom with the surging demand in various industry sectors in the forecast period.
The market leaders for the titanium 3D printing material market are 3D Systems, Inc., EOS Group, SLM Solutions Group AG, Materialise, RapidMade, Inc., Renishaw plc, General Electric, Carpenter Additive, Haydale, and Arkema.
|Market size value in 2020||US$319.226 million|
|Market size value in 2020||US$1,577.389 million|
|Growth Rate||CAGR of 25.61% during the forecast period|
|Forecast Unit (Value)||USD Million|
|Segments covered||Application, End-User Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||3D Systems, Inc., EOS Group, SLM Solutions Group AG, Materialise, RapidMade, Inc., Renishaw plc, General Electric, Carpenter Additive, Haydale, Arkema|
|Customization scope||Free report customization with purchase|
The titanium 3D printing material market has been segmented by application, end-user industry, and geography.
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the titanium 3D printing material market?
A1. The global titanium 3D printing material market is projected to grow at a CAGR of 25.61% during the forecast period.
Q2. What will be the titanium 3D printing material market size by 2027?
A2. The titanium 3D printing material market is projected to reach a market size of US$1,577.389 million by 2027.
Q3. What is the size of the global titanium 3D printing material market?
A3. Titanium 3D Printing Material Market was valued at US$319.226 million in 2020.
Q4. How is the global titanium 3D printing material market segmented?
A4. The titanium 3D printing material market has been segmented by type, end-user industry, and geography.
Q5. What factors are anticipated to drive the titanium 3D printing material market growth?
A5. One of the primary reasons for the titanium 3D printing material market growth is the growing applications of titanium 3D printing across various industry verticals such as aerospace and defense, healthcare, and automotive.
3D Systems, Inc.
SLM Solutions Group AG
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