Global Rapid Prototyping Market – Industry Trends and Forecast to 2029

Global Rapid Prototyping Market Analysis and Size

According to the report, a number of factors will continue to influence the global rapid prototyping market, including rising demand for 3D printing technology globally and increased demand for fast prototyping to speed up the design and production process. These growth determinants have significantly contributed to the rapid prototyping market, which further increases the overall growth for the market.

• Global Rapid Prototyping Market was valued at USD 903.8 million in 2021 and is expected to reach USD 6233.04 million by 2029, registering a CAGR of 27.3% during the forecast period of 2022-2029. The "additive " accounts for the largest technology segment in the rapid prototyping market owing to as it offers prototyping of any part at a much faster speed that helps in ramping up the designing and production process. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Global Rapid Prototyping Market Definition

Rapid prototyping (RP) is a novel manufacturing process that allows computer models made with 3D computer-aided software to be produced quickly. Rapid prototyping's key end users include the automobile, aerospace, defence, and other industrial industries. Gearbox housing, driver control systems, metal engine blocks, production tooling, and dashboards are all examples of areas where rapid prototyping is applied in the automotive industry. Applications in the aerospace sector include electrical generators for aeroplanes, engine components, air inlet housing, and other lightweight elements.

Report Scope and Market Segmentation

Rapid Prototyping Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

• High Utilization and Demand

Rapid prototyping market expansion is being driven by the increasing demand for product and commodities amendments for improved development. The expected increase in supply volume with advanced synthesis, short cycle time, and the expansion of application-specific categories are some of the main drivers driving market growth. The high usage across automotive, aerospace, defense, and other manufacturing industries will further propel the growth rate of rapid prototyping market.

Additionally, the usage of the rapid prototyping for the manufacture of medical devices and instruments such as surgical fasteners, scalpels, retractors, and display systems are other market growth determinants which are projected to bolster the growth of the market.

Opportunities

Furthermore, the recent advancements in the field of rapid prototyping such as implementation of 3D printing technology for prototyping as well as manufacturing applications, extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the increasing demand for rapid prototyping to speed-up the design and production process will further provide growth opportunities for the rapid prototyping market.

Restraints/Challenges Global Rapid Prototyping Market

• High Expenditure

The issues such as a large material expenditure due to low utilisation capacity, may serve as barriers during market growth.

• Slower Procurement And Other Challenges

Factors such as slower procurement in emerging economies and the patenting of various market experts with primary controls for industrial degrees are posing a threat to the market's growth.

This rapid prototyping market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the rapid prototyping market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Rapid Prototyping Market

The COVID-19 epidemic is having a detrimental influence on fast prototyping market share, since manufacturing activities have been temporarily halted across major manufacturing hubs, resulting in a considerable production slowdown. As a result of greater limitations on public meetings and travel, people are becoming increasingly isolated. Business interactions in the fast prototyping industry are also feeling the effects of the COVID-19 pandemic, which can be attributed to supply chain delays, stock market instability, and aircraft cancellations. It has had a direct impact on the fast prototyping sector, disrupting supply chains and markets. Rapid prototyping is paused while airports close owing to lockdown limitations, negatively hurting the rapid prototyping market size.

Recent Development

• In September 2021, 3D Systems, a maker of 3D printers in the United States, has announced the addition of VisiJet Wax Jewel Red to their materials line, which would enable more elaborate designs for jewelry creation. The material, when combined with the company's pure wax 3D printing technique, allows for new design styles in jewellery casting while also improving productivity and reducing waste. VisiJet Wax Jewel Red is the newest addition to 3D Systems' jewelry materials inventory, and it was designed to broaden the scope of the company's  jewellery-specific 3D printing technology's possible applications.

Global Rapid Prototyping Market Scope

The rapid prototyping market is segmented on the basis of technology, form, function, material and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

• Subtractive
• Additive
• Stereolithography
• Selective Laser Sintering
• Fused Deposition Modeling
• Ink Jet Printing Techniques
• Others

On the basis of technology, the rapid prototyping market has been segmented into subtractive, additive, stereolithography, selective laser sintering, fused deposition modeling, ink jet printing techniques and others. The additive segment is estimated to have largest market share as it offers prototyping of any part at a much faster speed that helps in ramping up the designing and production process.

Form

• Filament
• Ink
• Powder

The rapid prototyping market has also been segmented on the basis of form into filament, ink and powder.

Function

• Conceptual Model
• Functional Prototype

On the basis of function, the rapid prototyping market has been segmented into conceptual model and functional prototype.

Material

• Metal
• Polymer
• Ceramic
• Plaster and Starch
• Foundry Sand Parts

On the basis of material, the rapid prototyping market is segmented into metal, polymer, ceramic, plaster and starch and foundry sand parts.

End User

• Aerospace and Defense
• Consumer Goods and Electronics
• Automotive
• Healthcare
• Others

On the basis of end user, the rapid prototyping market is segmented into aerospace and defense, consumer goods and electronics, automotive, healthcare and others.

Rapid Prototyping Market Regional Analysis/Insights

The rapid prototyping market is analysed and market size insights and trends are provided by country, technology, form, function, material and end user as referenced above.

The countries covered in the rapid prototyping market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the rapid prototyping market because of the uninterrupted rise in the automotive and healthcare enterprises. Countless organizations are attempting to innovate unique commodities on rapid prototyping to contend with another well-established player crosswise the globe.

Asia-Pacific on the other hand, is estimated to show lucrative growth during the forecast period of 2022 to 2029 due to the accelerated expansion of the construction and manufacturing industry in various marketplaces including China and Japan. Besides, the swelling need for customer goods because of the expanding population is predicted to drive the market growth.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Rapid Prototyping Market Share Analysis

The rapid prototyping market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to rapid prototyping market.

Some of the major players operating in the rapid prototyping market are

• 3D Systems, Inc. (U.S.)
• Arkema (France)
• Stratasys Ltd. (U.S.)
• DSM (Netherlands)
• EOS (Germany)
• CRP SERVICE S.r.l. (U.S.)
• Envisiontec US LLC (Germany)
• Materialise (Belgium)
• Oxford Performance Materials (U.S.)
• CRS Holdings, LLC (U.S.)
• Stratasys Ltd. (U.S.)
• ArcelorMittal (Luxemberg)
• Corporate.Evonik (Germany)
• New Golden Plastics (Hong Kong)

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