Powder Bed Fusion 3D Printing Technology Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Component (Hardware, Software, Services, Material), By Technology (Multi Jet Fusion, Selective Laser Sintering, Direct Metal Laser Sintering/Selective Laser Melting, Electronic Beam Melting), By End-Users (Healthcare, Automotive, Aerospace And Defense, Others), And By Geography - Forecasts From 2021 To 2026

The powder bed fusion 3D printing technology market is expected to grow at a compound annual growth rate of 20.97% over the forecast period to reach a market size of US$7.281 billion in 2028, from US$1.921 billion in 2021.

This printing technology is regarded to be a type of additive manufacturing process in which a layer of powder material is selectively fused together using a laser or electron beam. The technology has been widely adopted across various industries, including aerospace, automotive, healthcare, and consumer products, due to its ability to produce complex geometries with high precision and accuracy.

The powder bed fusion 3D printing technology market is expected to grow with the rise in the demand for customized products.

This is mainly because as the consumer demand for customized products increases, PBF 3D printing technology will result in becoming a more viable option for manufacturers. The technology's ability to produce highly customized products with minimal lead time and cost is making it an attractive option for companies looking to meet this demand. For example, the growing adoption of PBF technology in healthcare can be attributed to the increasing demand for customized medical devices, the advancements in materials used in PBF, and the growing availability of PBF machines. Additionally, the technology has demonstrated its potential to significantly improve patient outcomes and reduce healthcare costs, making it an attractive option for healthcare providers.

Product Launches

• in July 2021, GKN Additive announced the launch of DP600-like steel materials for powder bed fusion and binder jet 3D printing.
• in August 2021, Rapid Parts Solution, an automotive component supplier, announced the installation of two Farsoon Flight HT403P 3D printing systems to expand its manufacturing capabilities. The solution has been installed to support the company's efforts to offer high-performance, accurate parts on demand and at faster rates.

The PBF 3D printing technology market has been experiencing significant growth in recent years and is expected to continue to grow in the coming years owing to its increasing use in various industries. The aerospace and defence industry has been one of the largest adopters of PBF 3D printing technology, due to its ability to produce lightweight and complex parts. As the demand for lightweight components continues to grow, the adoption of PBF 3D printing technology is expected to increase.  Over the past few years, there has been an increase in the healthcare industry around the world which has resulted in driving the growth of the powder bed fusion 3D printing technology market owing to multiple benefits and capabilities provided by the market in this specific industry.  PBF technology enables the creation of highly customized and patient-specific medical implants, prosthetics, and devices. This is particularly useful in complex surgeries where a custom-fit implant can improve the patient's outcome. The high level of precision and accuracy in PBF technology allows for the creation of intricate and complex shapes, making it ideal for creating implants and surgical tools with intricate geometries.

Moreover, with continuous advancements in materials and software. the capabilities of PBF 3D printing technology are expanding. New materials, such as metal alloys and composites, are being developed that can be used with PBF 3D printing technology, while new software tools are making the design and production process more efficient.

Based on geography, North America has a high adoption rate of 3D printing technology due to the presence of various industries such as aerospace and defense, automotive, and healthcare. The region also has a well-established infrastructure for the development and commercialization of 3D printing technology. The North America power bed fusion process 3D printing technology market is expected to witness significant growth due to the high adoption rate of the technology in various industries, the presence of key players in the market, and a well-established infrastructure for the development and commercialization of 3D printing technology. The market is expected to witness significant growth in North America due to the increasing demand for complex geometries and custom-made parts in various industries. The aerospace and defense industry is one of the major users of power bed fusion process 3D printing technology in the region. The technology is used to manufacture lightweight and complex parts that are difficult to manufacture using traditional manufacturing methods. The National Aeronautics and Space Administration (NASA) has been using 3D printing technology for its space missions, including the production of rocket engine parts. This demonstrates the high level of adoption of the technology in the aerospace industry in North America.

Powder Bed Fusion 3D Printing Technology Market Scope:

Segmentation:

• By Component
  • Hardware
  • Software
  • Services
  • Material
• By Technology
  • Multi Jet Fusion
  • Selective Laser Sintering
  • Direct Metal Laser Sintering/ Selective Laser Melting
  • Electron Beam Melting
• By End-Users
  • Healthcare
  • Automotive
  • Aerospace and Defence
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Taiwan
    • Others

Frequently Asked Questions (FAQs)

Q1. What are the growth prospects for the powder bed fusion 3D printing technology market?
A1. Powder Bed Fusion 3D Printing Technology Market is expected to grow at a CAGR of 22.43% over the forecast period.

Q2. Who are the major players in the powder bed fusion 3D printing technology market?
A2. Prominent key market players in the powder bed fusion 3D printing technology market include EOS, 3D Systems Inc., SLM Solutions Group AG, Renishaw plc, HP Development Co. L.P., General Electric, among others.

Q3. How is the global powder bed fusion 3D printing technology market segmented?
A3. The powder bed fusion 3D printing technology market has been segmented by component, technology, end-user, and geography.

Q4. What factors are anticipated to drive the powder bed fusion 3D printing technology market growth?
A4. The prime reason which is projected to drive the powder bed fusion 3D printing technology market growth is the surging investment in R&D and technology advancement across various industries verticals to enhance productivity and enable better performance at a lower cost.

Q5. What is the base year considered in the powder bed fusion 3D printing technology market report?
A5. 2019 has been taken as the base year in the powder bed fusion 3D printing technology market report.