According to the new market research report the North America 3D Printing Powder Market report defines and segments the concerned market with analysis and forecast of revenue. This market is projected to reach $200 million mark by 2020, at a CAGR of 23.7% during the forecast period 2015-2020.
Additive manufacturing has opened up new opportunities for powder metallurgy industry in North America. The expiry of technology patents for powder based 3D printing will drive the demand for 3D printing powder products in aerospace & defense, automotive, and medical & dental. 3D printing powder market is estimated to grow at 23.7% in North America. The technology cost for powder 3D printing will decrease on account of expiry of patents. This technology will slowly penetrate other engineering and fabrication industry. Powder manufacturers in North America are likely to benefit from these developments.
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3D printing powder market is significantly penetrating the end user industries. Aerospace & Defense industry is one of the major consumers of metal powders. Companies like GE Aviation are dependent on additive manufacturing for printing aircraft engines and components. Similarly, powder 3D printing is gaining much relevance for tooling applications in automotive industry. The use of powder based 3D printing technology in medical and dental applications will also contribute to the growth of 3D printing powder market. Increasing use of titanium alloys and powders in orthopeadic implants and dental implants will add to the developments in 3D printing powder market. Apart from these industries, lower technology costs will encourage consumer durables and accessory manufacturers to adopt this technology in the near future.
Expiry of patents will trigger new product developments and research from emerging companies in U.S and Canada. The consumption of metal powders currently dominates the market in North America followed by plastic powder and ceramic powder. However, new investments for product developments and technology are expected to bring development for other powder products, which are expected to be the highest growth segment.
Apart from expiry of patents and new product developments, other key contributors to the growth of this market include joint ventures, expansions and acquisitions. The acquisition of AP&C division by European major Arcam AB from Raymor Industries in Canada is a strategic expansion for the company in this region. Similarly, powder manufacturers in North America are focusing on expanding the product basket for tapping new growth opportunities in 3D printing materials market. New startups are moving up the innovation ladder by inventing new powdered materials which are tested across industries for their material worthiness and durability.
Some of the key players in the North America 3D printing powder market are GKN Hoeganaes Corporation (U.S.), Carpenter Technology Corporation (U.S), ExOne(U.S), Advanced Powders & Coatings (Canada) and others. These companies are participating in the growth story of North America through strategic expansions, product developments and research.
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