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Rapid Prototyping Materials Market Size
Rapid Prototyping Materials Market size was recorded at over USD 700 million in 2021. Driven by rising awareness regarding the benefits of rapid prototyping in mass manufacturing, the industry is expected to grow at more than 7% CAGR from 2022 to 2030.
Rapid prototyping is gaining significant attention as a modern and quick solution for fabricating physical objects directly from parts created in CAD, using addictive layer manufacturing techniques. This process reduces the time and cost of planning, tooling, or fixating components. Increasing penetration of prototyping in the automotive and aerospace sectors is set to foster market growth. Advancements in prototyping materials have also encouraged manufacturers to adopt additive manufacturing technology.
Moreover, government emphasis on utilizing rapid prototyping to integrate efficient IT modernization in varied industries is also fueling the product demand. For Instance, in June 2021, the U.S. Department of Defense introduced new strategies and policies to bolster the adoption of additive manufacturing, including fused deposition modelling, selective laser sintering, and 3D printing. Such initiatives are anticipated to reduce the production cost while developments in the technology will help in producing spare parts for aircraft and weapons systems, tools, and medical supplies through rapid prototyping.
| Report Attributes | Details |
|---|---|
| Base Year: | 2021 |
| Market Size in 2021: | 700 Million (USD) |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 7% |
| 2030 Value Projection: | 1,300 Million (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 224 |
| Segments covered: | Material, Technology and Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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High cost of material may restrain industry progression
High investment and maintenance cost are major factors restraining market growth. Rapid prototyping materials are fairly expensive as they enable manufacturers and marketers to go over every aspect of the product in detail. Each component of the prototyping process cuts down production prices, thereby raising the material cost. Nonetheless, government initiatives and strategies to boost the use of these materials are likely to combat the issue.
Rapid Prototyping Materials Market Analysis
In terms of material, the rapid prototyping materials market is categorized into polymer, metal, ceramic, and others. The metal segment is slated to record a revenue of over USD 780 million by 2030. This segment is set to depict a sizable growth rate as metals have superior mechanical strength and excellent surface finishing, which makes them durable and reliable. In addition, the material’s ability to produce complex shapes and superior heat resistance is foreseen to bolster segment growth.
With respect to technology, the rapid prototyping materials market is divided into additive {fused deposition modelling (FDM), selective laser sintering (SLS), stereolithography (SLA), others} and subtractive & compressive (CNC machining, casting). The additive technology segment is estimated to hold a market share of more than 60.5% by the end of the analysis period. Additive manufacturing usually involves the deposition of materials in layers and includes various technologies viz., fused deposition modelling (FDM), selective laser sintering (SLS), stereolithography (SLA), etc.
In terms of application, the rapid prototyping materials market is segregated into automotive, consumer goods, academic, medical, government & military, aerospace, and others. The automotive segment is expected to grow at a CAGR of more than 7% over the forecast period. Rapid prototyping finds extensive usage in the automotive industry for transforming new ideas and innovations into reality as it accelerates the product development process with high accuracy.
Regionally, the global rapid prototyping materials market is segmented into Europe, Asia Pacific, North America, the Middle East & Africa, and Latin America. The North America market is poised to garner over USD 450 million in revenue by 2030. Countries, such as U.S. and Canada, are continually focusing on involving rapid prototyping technology in a wide range of processes in the aerospace and medical sectors. Additionally, high investments in the military sector are also positively influencing the business dynamics.
Rapid Prototyping Materials Market Share
- Arkema S.A.
- Stratasys
- 3D Systems, Inc.
- Covestro AG
- EOS GmbH
- CRP Technology S.r.l.
- Materialise
- Tethon 3D
- Nexa3D
- DSM
- Envisiontec GmbH
- Carpenter Technology Corporation
- Höganäs AB
- Optomec Inc.
Dow are some of the key players in the rapid prototyping materials market. These companies are majorly engaging in product advancements and introducing innovative materials to broaden the scope of application of products in order to strengthen their market standing. For instance, in September 2021, Arkema, a chemical and advanced materials company, introduced new 3D printing material innovations at the Rapid + TCT show in Chicago, U.S.
Impact of COVID-19 Pandemic
The rapid prototyping materials saw a significant surge in demand during the COVID-19 pandemic as a result of their increased importance in the medical sector. Rapid prototyping enabled quick manufacturing of medical supplies and devices that helped in battling the shortage of necessary commodities, such as PPE, personal accessories, and more. It provided effective emergency support, pushing public agencies to further promote the use of these materials.
The rapid prototyping materials market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons and revenue in USD million from 2018 to 2030 for the following segments:
By Material
- Polymer
- Metal
- Ceramic
- Others
By Technology
- Additive
- Fused Deposition Modelling (FDM)
- Stereolithography (SLA)
- Selective Laser Sintering (SLS)
- Others
- Subtractive & compressive
- CNC machining
- Casting
By Application
- Automotive
- Consumer goods
- Medical
- Academic
- Aerospace
- Government & Military
- Others
The above information is provided on a regional and country basis for the following:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- GCC
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