3D Stainless Steel Powder Market by Type (304, 316L, S301, S310, S220, Others) by Application (Automotive, Medical, Aerospace and Defense, Jewellery, Tools, Others (Construction applications and Industrial Application))– Ukraine War, Future Prospects And Competitive Analysis, 2016 - 2028

The global 3D Stainless Steel Powder Market is expected to exhibit an attractive compound annual growth rate of around 8.70% from 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 around USD 134.80 million towards the end of the analysis period. While collective growth opportunity presented by the world 3D Stainless Steel Powder market between 2022 and 2028 will be a 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 aluminum, copper, titanium, etc.
• 304 3D Stainless Steel Powder is one of the leading type with over 25% share in 2021
• Aerospace and defense are dominating the application market for 3D Stainless Steel Powder
• U.S. is the 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 several 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 increasingly used in defense, healthcare, medicine, energy, consumer goods, electronics, aerospace, and automotive industries.

Sturdy development of these industries and the most remarkable 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 a massive boost for companies operating in the target market. Furthermore, the rising concentration of international key players in 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 quickly. For instance, in February 2018, Sandvik AB announced an investment of 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, and industrial applications. 3D Stainless Steel Powder demand is dominated by the aerospace and defense segment, with over 40% share in 2021. This growth is attributed to the significant reductions in maintenance and production costs of 3-D printed components and high reliability and performance levels. 3D Stainless Steel Powder is widely used in various applications within the aerospace and defense industry. For example, it’s used in manufacturing arms sets to many intricate parts to be used in engine assembly. Furthermore, 3D printing technology can manufacture 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 favor of the segment.

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

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

While North America leads the demand, Europe is sitting in second place with around 30% share in revenue generation in 2021. Germany, the U.K., and France are mainstream markets for 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