Global 3D Stainless Steel Powder Market: A Study of Changing Market Dynamics, Growth, Future Prospects, and Russia – Ukraine War impact Analysis, 2016 – 2028

3D Stainless Steel Powder is one of the most economic yet ideal material of choice when it come to metal printing. Stainless steel exhibit excellent physical properties such as strength which is essential in certain applications. Moreover, earlier it was not feasible to use 3D Stainless Steel Powder for multifaceted designs with traditional manufacturing approach. However, with modern manufacturing it has made possible to use 3D Stainless Steel Powder for multifaceted designs. In the process of using 3D Stainless Steel Powder in metal printing, stainless steel powder layers are required with a binding agent. 304, 316L, S301, S310, S220 are some of the major types of 3D Stainless Steel Powder.    

Global 3D Stainless Steel Powder Market is expected to exhibit an attractive compound annual growth rate of around 8.70% during the forecast period of 2022 to 2028. Total revenue generated by the 3D Stainless Steel Powder industry around the world in 2021 was around USD 71.07 million and it is expected to reach somewhere around USD 134.80 million towards the end of analysis period. While, collective growth opportunity presented by the world 3D Stainless Steel Powder market between 2022 and 2028 will be whopping USD 750 million.

Interesting Facts about 3D Stainless Steel Powder Industry

• Global 3D Stainless Steel Powder Market volume reached over 5,500 tons in 2021
• 3D Stainless Steel Powder can be replaced with aluminium, copper, titanium, etc.
• 304 3D Stainless Steel Powder is leading type with over 25% share in 2021
• Aerospace and defence a
• re dominating application market for 3D Stainless Steel Powder
• S. is single largest market with over 30% share in volume consumption

Augmented Demand for 3D Printing Technology

The immense upsurge in acceptance of additive printing technologies for manufacturing products that have a massive range of uses covering a number of industries in the past few years is one of the foremost factors credited to the healthy growth projections that the global 3D stainless steel powder market showcases. 3D-printed products are being increasingly used in industries such as defense, healthcare, medicine, energy, consumer goods, electronics, aerospace, and automotive.

Sturdy development of these industries and superior advances accomplished in the area of 3D printing technology, in terms of the reliability, finish, and qualitative value of the end-product possible with accessible machines and materials are also faring well in the global 3D stainless steel powder market.

Augmented global uptake of 3D-printed products is acting as a huge boost for companies operating in the target market. Rising concentration of global key players on the research and development activities with the sight of introducing ground-breaking qualitatively advanced and unique product varieties suiting the necessities of precise applications is also helping the market advance at a promising pace. For instance, in February 2018, Sandvik AB announced to invest around US$ 25 Million in metal 3D printer powders.

Aerospace and Defense to Holds Major Share

The global 3D stainless steel powder market can be classified into application and region. Based on the application, the market can be classified into automotive, medical, aerospace and defense, and others. The other segment includes Jewellery, tools, construction applications, and industrial application. 3D Stainless Steel Powder demand if dominated by the aerospace and defense segment with over 40% share in 2021. This growth is attributed towards the growth to the significant reductions in maintenance and production costs of 3-D printed components, as well as high reliability and performance levels. 3D Stainless Steel Powder is widely used in range of applications within aerospace and defence industry. It’s used in manufacturing of arm sets to many intricate parts to be used in engine assembly. 3D printing technology is capable of manufacturing products with complex geometries, which is estimated to benefit the aviation industry in the future. In addition, increasing defense spending by several governments due to escalating political tensions can also work in favour of the segment.

U.S. to Rule the Demand for 3D Stainless Steel Powder

U.S. is leading the demand for 3D Stainless Steel Powder with over 30% share in total volume consumption as well as revenue generation. United States alone consumed over 1,600 tons of 3D Stainless Steel Powder with revenue generation of over USD 23.75 million in year 2021. With the existence of world’s largest aerospace and defense industry in the country, the demand for 3D Stainless Steel Powder is clearly dominated by the U.S. Moreover, rising demand from medical as well as automotive industry is also adding fuel to increasing volume consumption of 3D Stainless Steel Powder in the country.

While, North America lead the demand, Europe sitting on second place with around 30% share in revenue generation in 2021. Germany, UK and France are mainstream markets for the 3D Stainless Steel Powder in Europe. On the other hand, Japan, South Korea and China are critical markets for future growth of 3D Stainless Steel Powder in Asia Pacific.

Some of the major players operating in global 3D Stainless Steel Powder include Sandvik AB, Carpenter Technology Corporation, GKN Limited, Exone GmbH, 3D Systems Corporation, EOS GmbH and others. This market is highly concentrated and top three players in global 3D Stainless Steel Powder market have occupied over 35% share in 2021. 

Frequently asked questions about global 3D Stainless Steel Powder industry