USD 700 million
Report ID: SQSG45F2028 | Region: Global | Published Date: October, 2022 | Pages: 165 | Tables: 67 | Figures: 75
Global Rapid Prototyping Materials Market size was valued at USD 700 million in 2021 and is poised to grow from USD 749 million in 2022 to USD 1131 million by 2030, growing at a CAGR of 7% in the forecast period (2023-2030).
Rapid prototyping technology is frequently used to verify the capabilities of materials in terms of their physical attributes prior to mass manufacturing. The design engineers are able to manufacture quality goods while conserving time, energy, and materials on the basis of the material qualities used in fast prototyping. Stereolithography (SLA), selective laser sintering (SLS), fused deposition modeling (FDM), selective laser melting (SLM), laminated object manufacturing (LOM), and others are examples of rapid prototyping methods. For example, polyamide 12 is the most often used material for SLS rapid prototyping among the several materials available.
Due to the rising demand for medical devices, the medical & healthcare industry, however, suffered little overall from the pandemic. The United States was able to develop and test the essential medical items during COVID-19 because of 3D printing technologies, including rapid prototyping, according to surveys by the Food & Drug Administration. Rapid prototyping services are projected to change strategically in the next few years, supporting the normalization of industrial operation.
US Rapid Prototyping Materials Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 700 million
Metal & Alloys
Metal & Alloys
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The global rapid prototyping materials market is segmented based on material, end-user and regions. On the basis of material, the rapid prototyping materials market can be bifurcated into thermoplastics, metal & alloys, ceramics and other segments. Based on end-users rapid prototyping materials market can be further segregated into construction & manufacturing, electronics & consumer goods, automotive, medical & healthcare, aerospace & defense and other sub segments. The regional insights of rapid prototyping materials market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Rapid Prototyping Materials Market Analysis by material
Due to their wide range of characteristics, including great strength, functionality, and durability, thermoplastics are the most widely used prototyping materials. Thermoplastics are more affordable and come in a wide variety. Thermoplastics including PA, PE, PEEK, ABS, PC, and PET have all been utilized to create prototypes. Future segment growth is anticipated to be fueled by the availability of plastic in large quantities and ongoing technological advancements in plastic manufacture. Prototypes for the industrial and medical industries are frequently made out of metal and alloys. To create prototypes with high strength, heat resistance, chemical resistance, and other desirable features, materials like titanium, stainless steel, and aluminum are frequently employed. Lithography-based Ceramics Manufacturing allows for the production of low volume OEM ceramic prototypes (LCM). Plaster, paper, composites, and other materials are included in the others division.
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Due to the established 3D printing technologies and bigger number of service providers in the region, North America is predicted to dominate the global industry. North America's market was worth USD 175.7 million. In terms of all the major end-use industries, the United States is the top consumer of rapid prototyping technologies. The primary factors driving the market's growth are the advanced industrial sector and rapid urbanization. Additionally, the aerospace and medical industries are thriving in the United States, which will likely lead to an increase in the need for prototyping materials in the near future.
During the forecast period, the market for rapid prototyping materials in Asia Pacific is anticipated to increase at a compound yearly growth rate of 19.8 percent. Asia has the second-largest market share in the world as a result of the growing industrialisation of its emerging economies. The market is dominated by China, Japan, and South Korea. Manufacturers are being encouraged to simulate and iterate a variety of materials to produce viable prototypes for various purposes because of the abundance of raw materials at significantly lower prices. Additionally, businesses are making considerable investments in building robust service centers so that customers can get a one-stop shop under one roof.
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Rapid Prototyping Materials Market Driver
Rapid Prototyping Materials Market Restraint
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Major companies are concentrating on introducing next-generation thermoplastics appropriate for additive manufacturing, 3D printing, and fast prototyping, including 3D Systems Corporation, Arkema, Covestro, and Tethon 3D. The 3D Systems Corporation announced plans to build its headquarters in South Carolina in February 2021. The complex will have advanced metal & polymer manufacturing capabilities, training facilities, laboratories for the development of innovative materials, and client centers. Such strategic initiatives are increasing the company's expertise in fast prototyping technology, which in turn is having an impact on market expansion.
Rapid Prototyping Materials Market Top Players Company Profiles
Rapid Prototyping Materials Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global rapid prototyping materials market is segmented based on materials, end-use and regions. The need for advanced rapid prototyping technologies in the healthcare sector is also rising as a result of rising investment in the construction of cutting-edge healthcare facilities. Applications such as prototype developments for the arts & humanities are included in the Others category. The other segments had the smallest market share, and the forecast period is expected to see no change in this pattern.
|Market size value in 2021||USD 700 million|
|Market size value in 2030||USD 749 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
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For the Global Rapid Prototyping Materials Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Rapid Prototyping Materials Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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