The Global Rapid Prototyping Materials Market Size is valued at 926.91 million in 2023 and is predicted to reach 8283.33 million by the year 2031 at a 31.56% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The market has been growing due to recent innovations in rapid prototyping, such as 3D printing for prototyping and manufacturing.
- The rapid prototyping materials are in high demand and are expected to drive industry growth.
- North America dominated the market and accounted for a global revenue share in 2023.
- One of the significant concerns restraining industry growth is the need for more competent professionals and high initial setup costs.
Prototypes and low-volume manufacturing parts are made using 3D printing techniques called rapid prototyping (RP). Rapid prototyping materials are in high demand, and this growth is unparalleled. This increase is being driven by innovation and how quickly the corporate environment is changing.
More businesses are using rapid prototyping technologies as a result of the demand for quicker turnaround times and innovative product development. Prior to going into full production, businesses can swiftly produce prototypes and test them owing to rapid prototyping. Lowering the possibility of mistakes and delays helps to save time and money. It helps to quickly design and create complex designs and test them before moving into the production phase.
The market for materials for rapid prototyping is expanding due to the rising popularity of 3D printing. Businesses can swiftly generate finished items and prototypes using a number of various materials owing to 3D printing technology. Businesses benefit greatly from this flexibility when it comes to creating new products or enhancing old ones. Rising demand for products designed using 3D printing technology from numerous end-use industries is driving rapid prototyping materials market expansion.
Recent Developments:
- In September 2021, VisiJet Wax Jewel Red, a brand-new material for jewellery design, is presented by 3D Systems.
- In January 2020, an online 3D printing service with immediate quotes was introduced in Europe by Xometry Europe GmbH.
- In December 2019, Echo Engineering & Production Supplies, Inc. introduced revolutionary rapid silicone prototyping technology, allowing the business to comprehend customers' objectives, develop a solution, and deliver working prototypes.
Competitive Landscape:
Some of the major key players in the rapid prototyping materials market are:
- 3D Ceram
- 3D Systems, Inc.
- Arcam AB
- ArcelorMittal
- Arkema S.A.
- Carpenter Technology Corporation
- Evonik Industries
- CRP SERVICE S.r.l.
- CRS Holdings, LLC
- Envisiontec US LLC
- EOS GmbH (Electro-Optical Systems)
- GKN PLC
- Golden Plastics
- Höganäs AB
- Lithoz AB
- LPW Technology Ltd.
- Materialise NV
- New Golden Plastics
- Oxford Performance Materials
- Renishaw PLC
- Royal DSM
- Sandvik AB
- Stratasys Ltd.
Market Segmentation:
The rapid prototyping materials market is segmented into type, form, function and end-use. On the basis of type, the market is divided into Polymer, metals & alloys, ceramics, and others. Based on form, the market is categorized into Filament, Ink, and Powder. Based on function, the market is categorized into Conceptual Model, Functional Prototype. On the basis of end-use, the market is segmented as aerospace & defense, healthcare, manufacturing & construction, consumer goods & electronics, transportation, and others.
Based On The End-Use Industry, The Manufacturing And Construction Segment Is Accounted As A Major Contributor To The Rapid Prototyping Materials Market
The manufacturing and construction industries are projected to grow at a higher rate amongst all. The market for rapid prototyping materials is predicted to rise over the forecast period due to the expanding manufacturing and construction industries in developing nations as a result of rising industrial manufacturing and quick infrastructure development. Because of the rise of the automotive and transportation sectors, there will likely be an increase in demand for steel and aluminum.
The Polymer Segment Witnessed Growth At A Rapid Rate
The market is divided into Polymer, metal & alloys, ceramics, and others based on material. Due to their wide range of characteristics, including great strength, functionality, and durability, Polymer are the most widely used prototyping materials. Polymer are more affordable and come in a wide variety. Polymer including PA, PE, PEEK, ABS, PC, and PET have all been utilized to create prototypes. Polymer are the main material utilized for rapid prototyping as a result of rising demand.
In The Region, The Asia Pacific Rapid Prototyping Materials Market Holds A Significant Revenue Share
Rapid prototyping materials market demand is expected to have a rapidly expanding market in the Asia Pacific area. The escalating significance of prototyping in the automobile industry will likely contribute significantly to regional growth in the foreseeable future. The government and defense sectors are also being encouraged to adopt products by increased government investment and favorable policies. Besides, North America is anticipated to grow at a significant rate over the forecast period because there are more service providers in the area and more developed 3D printing technology. 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 urbanisation.
Rapid Prototyping Materials Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 926.91 Mn |
|
Revenue forecast in 2031 |
USD 8283.33 Mn |
|
Growth rate CAGR |
CAGR of 31.56% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, Volume (Tons), and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Type, Form, Function and End-Use |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
3D Systems Corporation; EOS GmbH (Electro-Optical Systems); Renishaw Plc; Stratasys Ltd.; Carpenter Technology Corporation; Arcam AB, Sandvik AB, LPW Technology Ltd., GKN PLC, Höganäs AB |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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