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NEW YORK, November 4, 2020 (GLOBE NEWSWIRE) – SmarTech Analysis has just released its latest report analyzing and forecasting revenues of metal additive manufacturing services offices titled, “The Metal Additive Manufacturing Services Market: 2021-2029 “. In this new report, SmarTech Analysis has set revenues for Metal AM Services at $ 6.95 billion by 2025, rising to 15.5 billion by 2029.
These projections include revenues from core manufacturing and prototyping services, as well as new value-added services such as non-AM design, training and manufacturing services. SmarTech’s revenue projections in this report are lower than our equivalent numbers for the services sector published in 2019, mainly due to the COVID-19 pandemic.
Further details of the study, including a summary and excerpt, can be found at https://www.smartechanalysis.com/reports/the-market-for-metal-additive-manufacturing-services-2021-2029/ This topic and many other topics AM will be addressed at the upcoming Additive Manufacturing Strategies 2020 event which will be held online from 9 to 12 Februaryth 2021. See www.additivemanufacturingstrategies.com for more details.
Report information
This report consists of four chapters and an executive summary. Chapter one provides a detailed business analysis of the activity of the metals service offices and its actors. Chapter two is an analysis of where the demand for metal 3D printing services comes from and the type of services required. Chapter three provides detailed ten-year forecasts of this demand. Finally, in chapter four we provide strategic profiles of the major service bureaus that have a significant portion of their business in the metals space.
The metal printing services markets covered in this report include those targeting the following industries: aerospace, automotive, medical / healthcare, dental, jewelry, consumer goods, and oil and gas. In addition to 3D printing services, the report also includes non-AM design, training, and manufacturing services sold by AM service offices. Breakouts include revenue by material type and geographic area. We also include forecasts of printers sold to AM service offices, with a breakout from the printing technology used.
The companies featured in the report include: 3D Systems, BeamIT, Burloak Technologies, Carpenter, DM3D, ExOne, Falcontech, FIT, GE Additive, GKN, Henkel, Hoganas, HP, i3DMFG, Jabil, Metal Point Advanced Manufacturing, Materialize, MTI, Oerlikon , Protolabs, Renishaw, Sculpteo, Shining3D, Sintavia, Siemens, Solid Concepts, Stratasys, Thyssenkrupp, voestalpine, Wipro 3D3D Hubs, Hitch3DPrint and Xometry.
From the relationship
- While COVID-19 has hurt the earnings prospects for the metal service office business, we believe it has also created opportunities. Companies will now make contingency planning for supply chain crises a top strategic priority. Supply chain stability and diversification provided through metallic AM technologies will help meet their needs. Furthermore, the impact of reshoring from China will also increase the use of AM services.
- Over 40% of the revenues from metal printing services will come from healthcare (both medical and dental). Doctors and hospitals often see the benefits of 3D printing but lack the knowledge to do medical 3D printing at home. So these end users are turning to offices to build the 3D printed items they need. In some cases, medical offices are able to focus on very high value-added parts in this space. Then, consider FIT which has made a specialty in printing medical implants made with biocompatible titanium alloys (grade 2 and grade 5) using EBM designed for bone replacement. Meanwhile, 3D printing is already a widely accepted approach used in the dental industry that can only continue to grow.
- Service bureaus with significant in-house experience can also sell that expertise in the form of training and consulting services, pushing their daily involvement with hands-on additive manufacturing as an advantage. The successful training and consulting services that may emerge will be geared towards improving the quality and consistency of parts, certification and environmental education. We also expect an increase in consulting services offered by offices designed to help end users better implement AM.
Learn about SmarTech analysis
Since 2013 SmarTech Analysis has published reports on all the important earning opportunities in the 3D printing / additive manufacturing industry and is considered the leading industry analytics company providing coverage of this industry. Our company has a client roster that includes the largest 3D printer companies, materials companies and investors in the 3DP / AM industry.
For more details about our company, please visit www.smartechanalysis.com.
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A PDF accompanying this announcement is available at: http://ml.globenewswire.com/Resource/Download/29f94cd2-203e-44a4-a30e-eb8500e68e3f
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