Rapid Prototyping Materials Market size was valued at USD 1787.18 Million in 2024 and is projected to reach USD 12802.11 Million by 2035, growing at a CAGR of 28.5% during the forecast period 2024-2035.
Rapid prototyping is a rapid method of fabrication of a physical assembly, model, or part through 3D computer aided design (CAD). It produces product simulations for testing and validation throughout the product development process, with several iterations produced within a short time frame based on user analysis and feedback. The building of the part, model, or assembly is typically done with additive manufacturing, commonly referred to as 3D printing. Other rapid prototyping technologies employed are high-speed machining, casting, molding, and extruding.
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The rapid prototyping 3D printing sector is fueled by the increase in demand for product customization to achieve competitive edge. Application of rapid prototyping for in-house prototype development is expected to result in frequent product introduction. Rapid prototyping provides immediate visualization of the end product and removes lengthy procedures of outsourcing; thus, this serves as a primary driving force to expand the size of the rapid prototyping market. In addition, Conventional prototyping equipment can work on a single type of material, but new rapid prototyping equipment can work with multiple materials at a time. They accommodate an extensive range of materials like polymers, ceramics, and metals for printing. This technology will lower the cost of overheads needed for manufacturing. The usage of materials is efficient and no extra material is utilized in unnecessary spaces.
The other way around, the rapid prototyping technology is costly, and the necessity of skilled experts is restraining the market. If any manufacturing firm employs rapid prototyping technology, then it would lead to high investment in the beginning. In addition to this, software used for executing rapid prototyping is costly. As the field of use keeps on varying, rendering software must be replaced, thus elevating the price of whole system. Software should be updated on a regular basis so that it remains efficient and effective. In the future, when software development comes to maturity, the cost of software packages is anticipated to go down.
Segment Overview
The market for rapid prototyping is divided into Material, Technology and End User Industry.
Based on material, the size of the market for rapid prototyping is divided into thermoplastics, metals & alloys, ceramics, and others. In terms of material-based market segmentation, the market was led by the thermoplastics segment in 2021, while the metals and alloys segment is likely to have a higher growth rate during the forecast period. Thermoplastics or plastic rapid prototyping are widely employed for rapid prototyping because of their availability, ease of operation, strength & durability, affordability, and flexibility.
Rapid Prototyping Market
By Material
Thermoplastics segment held the highest market share in 2021.
By technology, the rapid prototyping market share is segmented into stereolithography (SLA), selective laser sintering (SLS), digital light processing (DLP), fused deposition modeling (FDM), and others. With respect to market segmentation based on technology, the market was led by the stereolithography segment in 2021 while the fused deposition modeling segment will have a higher growth rate through the forecast period. The drivers for the growth in the stereolithography technology market are diverse selection of materials available, high resolution, reduced development cycles, and highly accurate & long-lasting outputs.
Rapid Prototyping Market
By Technology
Stereolithography was the leading segment in 2021.
By end-user industry, the growth of the rapid prototyping market is divided into aerospace & defense, healthcare, manufacturing & construction, consumer goods & electronics, and others. Based on market segmentation by end user industry, the market was led by manufacturing and construction segment during 2021, while consumer goods and electronics segment will experience a faster growth rate in the forecast period. Growing demand of consumers for new & diversified products and growth in disposable income of individuals are some significant growth prospects for rapid prototyping in this market.
Rapid Prototyping Market
By End User Industry
Manufacturing and Construction held the largest share in 2021.
By geography, the rapid prototyping market analysis is conducted across North America, Europe, Asia-Pacific, and LAMEA. From a geographical perspective, the market was led by North America in 2021, although Asia-Pacific is anticipated to expand at a higher rate over the forecast period. North America is among the key regions in the world rapid prototyping market, from a revenue perspective and in terms of market share. Major players in this region like Stratasys Ltd. and3D Systems Corporation have been following different strategies to offer advanced solutions, which is likely to drive market growth, resulting in its high market share.
Rapid Prototyping Market by Region
Competitive Analysis
Competitive market analysis and profiles of the key rapid prototyping market participants that have been offered in the report are 3D Systems, Inc., 3DFortify, Inc., Arcam AB (General Electric), Carbon 3D, Desktop Metal, Inc., ExOne Company, Hoganas AB, Markforged, Optomec, Inc. and Stratasys, Ltd. These major players follow various strategies like new product development and launch, acquisition, partnership and collaboration and business expansion to gain more market share in the global rapid prototyping market over the forecast period.
Top Impacting Factors
Few of the key drivers for the global rapid prototyping market forecast are increasing demand for product customization to obtain competitive advantage and increased usage of various materials for prototyping. Conversely, high expenses involved with rapid prototyping, along with the need for skilled professionals serves as a restriction for the market. At the same time, rising adoption of rapid prototyping for digital manufacturing represents a growth opportunity in the forecast period.
The market outlook for the rapid prototyping market is relatively competitive due to the dominant presence of current vendors. The vendors in the market will gain a competitive edge over their rivals since they are capable of meeting market needs with a variety of products. The market’s competitive landscape is anticipated to grow as technological advancements, product development, and various strategies are undertaken by major vendors.
Key Developments/Strategies
3D Systems, Inc., 3DFortify, Inc., Arcam AB (General Electric), and Carbon 3D are few of the major companies that own a superior share in the rapid prototyping market opportunity. Leading market players have implemented different strategies like product launches, contracts, and others to increase their position in the rapid prototyping market.
In September of 2021, 3D System Corporation extended its material portfolio with the introduction of Certified Scalmalloy (A) and Certified M789 (A). This material will be utilized to create high strength part for energy, mold making, automotive, electronics, aerospace and defense application. Moreover, the consumer is also free to utilize direct metal printing platform to create part using the support of Scalmalloy (A) and M789 (A).
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GE Additive in January 2020 entered into a five-year cooperative research and development agreement with ORNL to merge the lab’s research strengths with GE’s expertise in creating products that work in the real world. The deal is an expansion of ORNL’s collaboration with Arcam, which GE bought in 2016. Arcam produces refrigerator-sized 3D printers that employ electron beams to fuse together millions of grains of fine-powdered metal, one hair-thin layer at a time, to create such things as highly detailed jet engine components.
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Report Pages
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321 |
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 By Technology
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 By End User Industry
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 By Region
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 Key Market Players
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Optomec, Inc., Desktop Metal, Inc., 3D Systems, Inc., Hoganas AB, Arcam AB (General Electric), Stratasys, Ltd., Markforged, Carbon 3D, ExOne Company, 3DFortify, Inc. |
