3D printing metal market worth US $ 2.36 bn by 2028
The global 3D printing metal market size is expected to reach US $ 2.36 billion by 2028 , according to a new report by Grand View Research , Inc ., expanding at a CAGR of 25.7 % over the forecast period . Market growth is attributable to the cost-effectiveness of 3D printed parts , reduced lead times and the development of complex parts during production .
“ Potential cost savings is a significant factor stimulating the growth of the market in the aerospace & defence end-use sector . Metal 3D printing offers the ability to fabricate lightweight but strong structures , produce complex designs and maintain small volumes . These factors extend its application scope in various end-use industries such as medical , aerospace , automotive and consumer products . However , challenges include consistency of quality ; limited multi-material printing capabilities ; the narrow range of materials ; high material costs ; size and scalability ,” commented the report .
The aviation industry is witnessing growth due to an increase in the number of frequent fliers and new fliers . It has adopted 3D technology to meet increasing demand , with metals such as Nickel and Inconel ( with excellent strength and fatigue resistance ).
According to the report , in terms of revenue , Asia Pacific is projected to remain the secondlargest regional market over the forecast period . The rising number of small-scale companies , along with the increasing adoption of 3D printed parts by OEMs , is projected to play a crucial role in the market growth . Titanium accounted for the highest revenue share of more than 41 % in 2020 .
“ Until very recently , the complexity and high cost of metal 3D printers limited the usage of additive manufacturing to high-volume and low-value parts . They also require carefully controlled environments and highly skilled workers . However , this market has witnessed several investments in the recent past . Various venture-backed companies are working on developing low-cost production techniques and affordable 3D printing applications ,” said the report . n
Rebirth and renaissance at Made in Steel
The ninth edition of Made in Steel , a conference and exhibition in Milan ( Italy ) for the steel industry , organised by siderweb - the steel community , took place from 5-7 October 2021 . Entitled ‘ RENAISSANCE - here begins the steel rebirth ’, it hosted 184 exhibitors ( 22 from overseas ), on an exhibition area of about 10,000 square metres . Overseas exhibitors represented 15 countries and attendance totalled 13,505 from 68 countries .
Made in Steel offered players in the steel value chain , operators , exhibitors and visitors a packed agenda of high-level conferences , with over 30 national and international speakers , including Alec Ross ( innovation advisor to the Obama administration ). On 6 October 2021 , it hosted the annual meeting of Federacciai . Made in Steel is an exhibition / showcase and a cultural hub which , through
Emanuele Morandi , President and MD , Made in Steel .
conferences , fora and roundtables , aims to encourage competitive collaboration and the exchange of information ( essential elements for company growth ). During the event , Siderweb also presented the main results from a survey of 100 companies in the steel sector , aimed at exploring expectations for the 2021 budget results and the outlook for 2022 .
Digital MIS - Expoplaza , the Made in Steel 2021 digital platform and a virtual meeting place for visitors and exhibitors , as well as the www . madeinsteel . it website , were accessed by 42,679 users , generating 134,086 page hits .
Siderweb TV , the channel for Made in Steel , streamed more than 20 hours of conferences live from the siderweb conference room , featuring interviews as well as in-depth analyses and videos . The siderweb YouTube channel was viewed more than 7,000 times .
“ Our industry is in the middle of an earthquake with rising prices , shortages of raw materials , soaring energy costs and tariffs . All these issues were discussed in depth ” said Emanuele Morandi , president and managing director of Made in Steel . n
Digital twins project examines language barriers
Leading voices from the construction sector and beyond in the UK have come together to explore the ‘ language problem ’ with Digital Twins that arises from a lack of coordination and consistency between sectors .
The Institution of Engineering and Technology ( IET ), together with the University of Sheffield Advanced Manufacturing Research Centre ( AMRC ), the Construction Leadership Council ( CLC ), the Centre for Digital Built Britain ( CDBB ) as a partner in the Construction Innovation Hub , techUK and supported by the Alan Turing Institute , the UK ’ s national institute for data science and artificial intelligence , have launched the ‘ Apollo Protocol ’. The aim is to help different industries to communicate more effectively , reducing silos and improving co-ordination for more collaborative and sustainable outcomes .
At present , the manufacturing and built environment sectors are developing their concepts of digital twins separately . The Protocol is to investigate the language barriers between the digital twins of different sectors and to develop recommendations to increase the interoperability between sectors .
“ Policymakers will only meet their sustainability goals if they can provide clarity during procurement for the market to respond effectively , so it will take a whole system approach ,” commented Rick Hartwig , IET Built Environment Lead .
The project team will bring together experts in the field and intends to publish a white paper in the Autumn identifying some of the challenges .
For more information , email sep @ iet . org with the subject line ‘ The Apollo Protocol ’. n
ISMR November 2021 | sheetmetalplus . com | 9