Europe Additive Manufacturing with Metal Powders Market size exceeded USD 135 million in 2021 and is anticipated to expand at a CAGR of 21% from 2022 to 2028.
Get more details on this report - Request Free Sample PDF
COVID-19 impact on Europe additive manufacturing with metal powders industry outlook:
The global COVID-19 pandemic has had a negative impact on various industries across the world. Raw material and labor shortages, supply chain disruptions, and stringent government-imposed lockdowns resulted in severe losses to several industries. However, widespread vaccination drives have allowed industries to resume full-scale operations and easing global supply chain disruptions. These steps could help Europe additive manufacturing with metal powders market regain pre-COVID 19 momentum amidst investments in Industry 4.0.
The industry caters to a wide expanse of end-users across the automotive, aerospace, medical, and oil & gas sectors. Industry 4.0 stresses a greater emphasis on additive manufacturing in all these domains. In the automotive and aerospace industries, aside from mechanical components, additively manufactured electronic components are offering new ways to gather data, network vehicles, and produce smart components.
This technology is extensively used in the manufacturing of various high-tech aircraft components for turbine parts, jet engines, landing gear and cabin interior components. Companies can print solid objects by digitally applying one layer of material on top of another thereby allowing manufacturers to design complex aircraft structures and shapes easily.
Due to the longer lead times and high tooling costs, traditional manufacturing is typically costly for low-volume production in the sector. Additive manufacturing can help to significantly reduce lead times whilst lowering production costs. Increasing use of AM in producing complex mechanisms for O&G sector, reducing emissions, and boosting performance is likely to boost the market share.
The global automotive industry has successfully embraced additive manufacturing with metal powders as a prototyping technology for several years. At present, the technology is being used by original equipment manufacturers to 3D print spare parts for rare vehicles and collectors, mechanical components for vehicles, and even an entire vehicle.
For instance, 3D printing has been actively used in Formula 1 racing, allowing teams to test different concepts in just weeks. As the technology advances, automakers are exploring the possibilities for the use of metal AM for a series of new applications. The future envisions vehicles to be autonomous, connected, and shared. However, for the automobile industry to be powered by electricity, the automotive parts need to be stronger, lighter and functionality driven.
The individual parts might also need to be complex in design to support alternative drive systems. Unlike conventional designs, metal AM designs can be easily modified, depending on the part functionality. This freedom of design is a unique selling preposition and will be on the rise with further improvements in technology. Growing automotive production, along with rise in demand for more fuel efficient and light weight vehicles will drive the industry trends.
Germany additive manufacturing with metal powders market demand will reach 500 tons in volume by 2028, owing to the growing usage of lightweight components in the aerospace and automotive sectors to curtail costs for developing prototypes. Host to world-class auto manufacturers including Audi, BMW, Mercedes, Porsche and Volkswagen, Germany is one of Europe’s leading automotive markets.
Some leading companies involved in the Europe market include Additive Industries, Airbus, APWorks and Aubert & Duval. To retain their market position, these companies have been opting for a slew of marketing tactics, such as partnerships, mergers and acquisitions, collaborations, and new product launch.
Also, to satisfy global production demands, auto component makers are increasingly relying on the power of 3D printing. Leading automaker BMW, for example, has been using 3D printing their plastic and metal auto components.