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Rapid Growth Expected in AM Metal-Powder Market

Friday, April 20, 2018
 

A continued increase in AM applications in the aerospace industry for producing engine, turbine and other parts should trigger metal-powders market growth, with the AM-via-metal-powders market size expected to surpass $1.1 billion globally by 2024. That’s according to a new research report, Additive Manufacturing with Metal Powders Market, by Global Market Insights, Inc.

Also contributing to the rise of metal powders for AM: the oil-and-gas and various industrial sectors, due to quickened development and validation of designs along with a drive toward decreased production time and cost. Here, the market is expected to surpass $45 million by 2024, according to the Global Market Insights report, with AM already underway for prototyping, modeling and production for exploration and operational equipment, chemical-injection-stick tools, gears, impellers, pipeline rigs, nozzles for downhole-cleanout tools, control-valve components, and sealing accessories.

Stainless steel, aluminum, cobalt, nickel and titanium represent the prominent raw materials used in AM metal-powder applications. Demand for aluminum alloys should increase 27 percent through 2024, according to the report, with automotive a primary driver.

Currently, more than 20 percent of aerospace engineering companies are using this technology to produce components, according to the report, with the industry constantly seeking ways to minimize aircraft weight by employing lightweight metals such as stainless steel, titanium, aluminum and copper. Growing trust in these technologies among aerospace firms should minimize costs for developing models and prototypes, resulting AM metal-powder market gains.

 


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