The latest edition of SmarTech Publishing’s metal Additive Manufacturing market research report, titled ‘Additive Manufacturing with Metal Powders 2017‘, states that the primary market for metal Additive Manufacturing, encompassing metal AM systems and metal powder materials, exceeded $950 million in 2016. Over the next decade, SmarTech’s market models predict that the metal AM market will grow to over $6.6 billion by 2026.
The report is based on SmarTech’s ongoing research into the metal Additive Manufacturing market and reinforces it as one of the strongest growth areas of the year. The market, the report states, is entering a pivotal year in its evolution in which a number of developments are expected to determine whether or not various metal AM technologies will deliver on their expected potential. Incumbent processes and vendors who have enjoyed numerous years of strong growth with little competitive pressure will face a significantly different market structure in 2017, characterised by a drive towards real manufacturing implementation and digital manufacturing business model realisation.
The third edition of SmarTech Publishing’s metal AM market research report, which was first published in 2013, the updated report identifies key change factors and resulting growth opportunities in metal Additive Manufacturing in metal powder materials and alloys, applications and technology and features 200 pages of analysis and market data, including the latest ten year forecast outlooks for metal AM. Key market metrics are covered by the report, such as powder shipments by mass across eight leading alloy families, hardware unit sales and install base estimates by metal AM technology subgroup and revenue opportunities for the sale of metal powders within specific end-user markets.
The report seeks to lay out a clear market trajectory based on the latest industry events and technological developments in metal AM for stakeholders in the industry ranging from machine manufacturers, to metal powder suppliers, to machine tool providers interested in Additive Manufacturing, to investors and major end-users interested in potential acquisitions in the space.
Competitive landscapes in metal AM are shifting at record pace in the market, the report finds, with notable acquisitions from GE and market entries by major machine tool manufacturers and metal powder suppliers throughout 2016. General Electric’s own internal consumption of Additive Manufacturing machines, expected to be around 1,000 total systems over the next decade, represents as much as 4% of total market sales for metal AM units in a given year during the forecast period.
Major metal powder suppliers are also beginning to make investments in order to gain key footholds in the future market for powders used in Additive Manufacturing, as more end-users begin serial manufacturing applications in AM, with the potential to weaken the business models of metal AM machine OEMs relying on redistribution of metal powders to customers as an additional revenue stream.
Market growth in 2016 was spread evenly across North America, Europe, Asia-Pacific and the Rest of World, with Europe remaining the largest market for metal AM hardware and materials. In 2016, North America and Europe combined to account for just under 70% of the total primary metal AM market for metal powders and metal AM technology.