The titanium-based additive manufacturing market will likely hit $518 million in 2022, based on a SmarTech Publishing report, according to Today's Medical Developments.
Here are seven observations:
1. By 2026, the market will likely reach nearly $1.08 billion.
2. Titanium alloys can be effectively processed, which is driving the development of titanium additive manufacturing.
3. SmarTech Publishing analysts reported titanium revenues will surpass all other alloy groups used in metal additive manufacturing.
4. Titanium possesses a "high strength-to-weight ratio, biological inertness and other desirable properties when combined," according to Today's Medical Developments.
5. Titanium is growing in popularity in the medical and aerospace industries.
6. In 2016, the industry will utilize more than 150,000 kgs of titanium in the medicine and dental sectors. By 2022, these sectors will utilize 1.1 million kgs.
7. The orthopedic industry will drive much of this growth in the medical field, as more device companies opt to use titanium for spinal, knee and cranial implants.