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Metal Additive Manufacturing Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2024 | TechnavioThe global metal additive manufacturing market size is expected to grow by USD 4.42 billion during 2020-2024, progressing at a CAGR of over 14% during the forecast period. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201123005899/en/ Technavio has announced its latest market research report titled Global Metal Additive Manufacturing Market 2020-2024 (Graphic: Business Wire) Click & get FREE sample Report in MINUTES The demand from the automobile industry is one of the major factors propelling market growth. However, factors such as high production costs will hamper market growth. The manufacturing process of automobile components involves the use of metal additives for investment casting, customized tooling, and prototyping. Selective laser sintering, fused deposition, and selective laser melting are some of the technologies used in said manufacturing processes. Metal additive manufacturing is also used for the production of different automobile parts such as bumpers, windbreakers, pumps, valves, and cooling vents. Additionally, the demand for metal additive manufacturing for the production of components used in formula-one racecars and supercars is increasing at a rapid pace. Metal additive manufacturing allows the Formula One teams like Scuderia Ferrari, Williams Martini Racing, and Mercedes-AMG Petronas Motorsport, to build stronger and lighter parts within a shorter duration as compared to conventional manufacturing. Thus, the increasing demand from the automobile industry will drive the metal additive manufacturing market growth during the forecast period. More details: www.technavio.com/report/metal-additive-manufacturing-market-industry-analysis Global Metal Additive Manufacturing Market: Application Landscape Aerospace companies are integrating AM into their future production strategies for flexibility in engineering and design. Metal additive manufacturing is mainly used to produce different components such as engines, turbine parts, and interior cabin components. The cost-effectiveness and ease of manufacturing of functional components with complex geometries and defined aerodynamic properties drive the adoption of metal additive manufacturing by the aerospace segment. However, market growth in this segment will be slower than the growth of the market in the automobile segment. Global Metal Additive Manufacturing Market: Geographic Landscape North America was the largest metal additive manufacturing market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. An increase in the demad from the aerospace and healthcare industries and a rise in the need for dental implants in the healthcare industry will significantly drive metal additive manufacturing market growth in this region over the forecast period. Over 32% of the market's growth will originate from North America during the forecast period. The US is a crucial market for metal additive manufacturing in North America. Market growth in this region will be faster than the growth of the market in APAC, Europe, and South America. Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. View market snapshot before purchasing Related Reports on Materials Include: Global Nano Copper Powder Market: The nano copper powder market size has the potential to grow by USD 28047.06 thousand during 2020-2024, and the market's growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get FREE Sample Report in Minutes! Companies Covered
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Table of Contents: Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Customer landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
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