New York, March 09, 2020 (GLOBE NEWSWIRE) — The Global 3D Titanium Technology Market is forecast to reach USD 4.57 Billion by 2027, according to a new report by Reports and Data. Titanium is a transition metal with a unique shiny silver color and high strength to density. The metal is exceptionally resistant to corrosion caused by aqua regia, seawater, and chlorine. The optimum metallurgical properties of this metal makes it an ideal metal for various industrial applications. Now, 3D printing has been a widely used additive manufacturing process of various metals. 3D titanium technology is being highly preferred in multiple end-use verticals due to the similar strength like steel with lesser density in titanium, and technological advancements in 3D printing technology. The continuous expansion of the 3D printed titanium aircraft & marine apparatus, consumer products, artificial medical & dental implants is expected to drive the demand throughout the forecast period.
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North America due to its highest implementation of titanium 3D printing technology in healthcare and aerospace industries, is dominating the market. Asia Pacific region is forecasted to grow the fastest in the period 2019 – 2027, owing to high market penetration for the 3D titanium technology, especially in regions like China and India.
Further key findings from the report suggest
- In aerospace industries, 3D titanium technology is incorporated to manufacture airframe & wing structures, smaller apparatus like compressor blades, turbine engine components, and rotors, to name a few owing to the chemical properties such as corrosion resistance, high strength to weight ratio and high-temperature resistance of titanium. The high-performance aircrafts made using 3D titanium technology are utilized in the defense operation in different countries. The aerospace & defense sub-segment is growing at a CAGR of 32.1% during the forecast period.
- Titanium has been used in the medical industries for decades and recent technological advancements with 3D titanium technology have made possible a wide range of special implants in procedures due to its flexibility in design. Dental implants, limbs, hips, and bones are some of the common use of this technology in healthcare industries. This sub-segment is expected to get a CAGR of 32.8% throughout the forecast period.
- Europe would reach a market share of 24.5% by 2027 and would grow at a CAGR of 30.5% in the forecast period. Germany has some of the valuable players in this region.
- North America is forecasted to retain its dominance in the overall market, with 35.7% of market possession by 2027 and CAGR of 31.7% during the forecast period. The US possesses the highest market share in this region and some of the vital players in the market.
- In June 2017, SI-BONE, a medical device company based in California, United States, announced its FDA clearance of 3D printed titanium implant named iFuse-3D Implant and made available for its commercial usage in the United States. iFuse-3D Implant was the first-ever invented 3D titanium implant for the sacroiliac joint.
- Key participants include 3D Systems, Carpenter Technology Corporation, Voxeljet AG, EOS GmbH Electro Optical Systems, Materialise NV, The ExOne Company, Renishaw PLC, General Electric, Stratasys, Ltd., and SI-BONE, among others.
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For the purpose of this report, Reports and Data have segmented the global 3D titanium technology market on the basis of the form, printing technology, applications, and region:
Form Outlook (Revenue: USD Million; Volume: Kilo Tons; 2016-2027)
Printing Technology Outlook (Revenue: USD Million; Volume: Kilo Tons; 2016-2027)
- Direct Metal Laser Sintering (DMLS)
- Electronic Beam Transfer (EBM)
Applications Outlook (Revenue: USD Million; Volume: Kilo Tons; 2016-2027)
- Aerospace & Defense
- Automotive & Marine
- Healthcare Industries
- Consumer Products
- Others
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/3d-titanium-technology-market
Regional Outlook (Revenue: USD Million; Volume: Kilo Tons; 2016-2027)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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