The global rapid prototyping material market size is expected to reach USD 2.6 billion by 2025, according to a report by Grand View Research, Inc. The industry is projected to advance at a substantial CAGR of 30.9% over the forecast period. Rapid prototyping involves the fabrication of a physical assembly, model, or part using 3D computer aided design (CAD) in a quick and efficient manner. The technology comes as a huge help to manufacturers for the mass production of equipment or parts, as rapid prototyping helps to visualize, design, and develop the manufacturing process in an efficient manner. The use of prototypes allows preliminary assessment of a product and verification of possible weak points of the design, which is expected to propel the demand for rapid prototyping materials over the forecast period. Technological advancements related to 3D printing-based production are expected to drive the global market for rapid prototyping materials over the forecast period.
The widespread adoption of 3D printing in major end-use industries has created numerous positive avenues for industry advancement over the forecast period. Rising use of rapid prototyping processes in the aerospace & defense industry is expected to further augment the industry growth in the coming years. The use of rapid prototyping in the healthcare industry has aided the production of precision equipment and implants, which has substantially contributed to the industry advancement. In addition, increased use of these materials in surgical planning and simulation is anticipated to benefit the market growth over the forecast period. Materials required for rapid prototyping process include thermoplastics, metals & alloys, and ceramics, which are used in the form of liquid, powder, filaments, or sheets. Major raw material suppliers and manufacturers are engaged in developing new products that are tested for approval of products and certifications. Moreover, strategic initiatives undertaken by the players are expected to help build a strong position in the market.
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Rapid Prototyping Materials Market Report Highlights
• The use of prototyping in the construction and manufacturing sectors helps in understanding the models before their actual implementation; the process also aids in testing manufactured parts, leading to high precision
•Thermoplastics dominated the material segment in the rapid prototyping materials market in 2018, being projected to generate a revenue of USD 1.5 billion by 2025, on account of high adoption rate of the material
•The manufacturing & construction end-use segment is expected to advance at a substantial CAGR of 31.9% through 2025, owing to the rapidly expanding related activities in numerous developing economies
•Asia Pacific is anticipated to witness notable progress at a CAGR of 41.7% through 2025 in the rapid prototyping materials market, owing to rapid industrialization and increasing demand for consumer goods in the region
•The current outbreak of the COVID-19 pandemic has created numerous opportunities for the industry to show its importance, especially in the healthcare sector. Organizations and research institutes have resorted to rapid prototyping in order to develop critical healthcare equipment such as face masks and face shields; such developments are expected to accelerate industry growth in the near future
•Notable companies in the rapid prototyping materials market include 3D Systems Corporation, EOS GmbH, Renishaw, Stratasys, Carpenter Technology Corporation, and Arcam AB. These participants are focused on developing new products for consumers to account for greater industry share
•Microsoft announced in March 2021 that it is buying The Marsden Group, a rapid prototyping firm that focuses on major industries such as manufacturing, automotive and logistics. The development aims to showcase Microsoft’s growing focus on vertical industries
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Rapid Prototyping Materials Market Segmentation
Grand View Research has segmented the global rapid prototyping materials market on the basis of material, end use, and region:
Material Outlook (Revenue, USD Million, 2014 – 2025)
• Metals & Alloys
End use Outlook (Revenue, USD Million, 2014 – 2025)
• Aerospace & Defense
• Manufacturing & Construction
• Consumer goods & Electronics
Regional Outlook (Revenue; USD Million, 2014 – 2025)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Central & South America
• Middle East & Africa
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About Grand View Research
Grand View Research is an India & U.S. based market research and consulting company headquartered in San Francisco, which offers syndicated research reports, customized research reports, and consulting services. The company’s rich database includes in-depth analysis across a range of industries including chemicals, materials, energy, healthcare, and technology, among others.
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