Market Trends of Binder Jetting 3D Printing Technology Industry
Growing Applications in Automotive Sector
- Due to its inherent advantages, the automotive industry stands out as a leading adopter of binder jetting technology. For example, binder jetting's ability to swiftly produce both prototypes and production parts makes it increasingly favored in automotive applications. A prime illustration is the heat exchanger, which requires intricate geometries for optimal performance.
- As the automotive industry continues to evolve, fueled by an unyielding quest for efficiency, performance, and reduced weight, binder jetting emerges as a valuable asset for automotive manufacturers aiming to optimize production and pioneer innovative designs. While traditional 3D printing technologies typically cater to small batch runs, binder jetting matches the production rates of conventional methods. This capability facilitates the high-volume manufacturing of intricate automotive components. Moreover, binder jetting's versatility extends beyond a select few materials, accommodating a diverse array of metal powders customized to meet distinct performance criteria.
- With the global automotive sales surging, driven by increasing purchasing power among the populace, the market studied is anticipated to be served with significant growth opportunities during the forecast period. According to OICA, global automobile production continues to gain traction since the decline observed during the pandemic. In 2023, about 94 million vehicles were produced globally, compared to 78 million in 2020.
- A similar trend has been observed across other region. For instance, as per the ACEA full-year report 2023, the car market in China faced stagnation in the first three quarters, yet managed a 4.5% growth for the year. In contrast, car sales in Japan and the US saw robust increases, soaring by nearly 16% and over 14%, respectively.
- Recognizing the promise of binder jetting technology, numerous automobile manufacturers have begun its adoption. For example, ExOne and the BMW Group have collaborated on project development for over two decades. The automaker employs four ExOne Exerial binder jet 3D printing systems for the serial production of water jacket cores, essential for metal casting, and has more systems on the way. When integrated with a microwave, a desanding station, and a fully automated conveyor, the Exerial system operates at high speed around the clock, producing parts with remarkable accuracy.
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North America Expected to Hold Significant Market Share
- As an early adopter of technology, North America is poised to lead the Binder Jetting 3D Printing Technology market. Anticipated product launches and innovations are set to drive the growth of the market. In response to these trends, numerous global Binder Jetting 3D printing solution providers are bolstering their presence in North America to capitalize on the expanding opportunities and enhance their market share.
- In June 2024, Desktop Metal, a leading provider of Additive Manufacturing 2.0 technologies for mass production, announced its participation at RAPID + TCT in Los Angeles. The company is expected to unveil innovative 3D printing applications tailored for diverse sectors, including aerospace, electronics, medical, and consumer goods. Notably, desktop metal is expected to spotlight its achievements in binder jetting AL6061 powder, showcasing part performance that competes with traditional investment casting and outshines other additive manufacturing methods for this specific material.
- Binder jetting technology is witnessing rising demand across various sectors in the region. For example, in 2023, Desktop Metal sold a Production System P-50 along with a complete set of metal binder jet systems to FreeFORM Technologies. Located in St. Marys, Pennsylvania, FreeFORM Technologies expanded its operations to include a total of 25 metal printers, marking what Desktop Metal claims to be the largest fleet of DM binder jet systems to date.
- The North American healthcare, aerospace and defence, industrial, and automotive sectors are witnessing a surge in investments, signalling robust growth prospects. These investments are expected to drive significant advancements and adoption of Binder Jetting 3D printing technology across various industries, further solidifying North America's dominant position in the market.
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