Global Rapid Prototyping Material Market – Industry Trends and Forecast to 2029

Rapid Prototyping Material Market Analysis and Size

Rapid prototyping material is widely used in several industries, including aviation, healthcare, transportation, consumer goods, electronics, etc. Recent advancements in the field of rapid prototyping, such as application of 3D printing technology for prototyping and manufacturing, have contributed to the market growth. Furthermore, manufacturers are working on the cost-effective rapid prototyping materials for niche applications, where testing the prototype performance is not required.

Data Bridge Market Research analyses that the rapid prototyping material market was valued at USD 903.8 million in 2021 and is expected to reach USD 6,888.04 million by 2029, registering a CAGR of 28.90% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Rapid Prototyping Material Market Scope and Segmentation

Market Definition

Rapid prototyping is the rapid fabrication of model, physical part, or assembly using 3D computer-aided design (CAD). The creation of the model, part or group is generally completed by using additive manufacturing. This is more commonly known as 3D printing. Rapid prototyping material has several applications in the aerospace sector such as in electrical generators for aeroplanes, air inlet housing, engine components, and other lightweight elements.

Global Rapid Prototyping Material Market Dynamics

Drivers

• High usage of rapid prototyping material in healthcare industry

The development in healthcare industry is anticipated to witness high growth in the rapid prototyping material market. The increasing use of rapid prototyping in simulation applications and surgical planning. Prototypes help to create a realistic view of a target organ in the body in the healthcare sector, which is very beneficial for surgeons. Additionally, rapid prototyping materials find application in developing medical instruments and devices. However, increasing demand for high-quality 3D printing materials certified by several leading authorities for medical applications boost the demand of rapid prototyping material and propel the market growth rate.

• Increasing demand of rapid prototyping material due to major functions

The major functions of prototyping such as functional prototypes and conceptual models are either overlap with each other in some cases or are equally exclusive. Conceptual models are used to study static features of specimens or model. For instance, several packaging models can be used to study the aesthetics of products. On the other side, functional prototypes can be used to study the machine components, body components and engine parts among others. Functional prototypes are formed to study the dynamics, hardness, strength of components, which can be verified in virtual operating situations. With growing competition among end-user industries, functional prototypes deliver critical solutions to test the product's feasibility. These are some major function of the prototyping that will propel the growth of the rapid prototyping material.

Opportunities

• Surging government initiatives

Government emphasizes using rapid prototyping material to integrate efficient IT modernization in several industries, which will create lucrative opportunities for the market and fuel the demand of the product. For Instance, the U.S. Department of Defence introduced new policies and strategies to boost the adoption of additive manufacturing such as selective laser sintering, fused deposition modelling and 3D printing. Such initiatives are projected to decrease production costs, whereas technological developments will aid in manufacturing spare parts for weapons and aircraft systems, tools, and medical supplies through rapid prototyping.

Restraints/ Challenges

• Fluctuating price of raw materials

Volatility in the prices of raw materials such as some polymers, ceramics, metals, and others are expected to hamper the growth of the rapid prototyping material market during the forecast period.

 Also, low acceptance rates and grade certification from several industries are some other factors which is acting as market restraints and hamper the market growth rate.

This rapid prototyping material 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 construction and demolition waste market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on rapid prototyping material Market

The rapid prototyping materials saw a substantial growth in demand during the COVID-19 pandemic due to their augmented importance in the medical and healthcare industry. Rapid prototyping allowed quick manufacturing of medical devices and supplies, which helped in battling the shortage of essential commodities, such as personal accessories, PPE and more. It provided effective emergency support and pushing public agencies to further support the use of these materials

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In September 10, 2021. 3D Systems introduced VisiJet Wax Jewel Red, a new jewelry design material.
• In Dec 20, 2021, Boeing hired Oxford Performance Materials (OPM) to 3D print parts for the CST-100 Starliner spacecraft. Upcoming year, the Starliner will take to the skies OPM which has already started their shipping of OXFAB parts to Boeing, where they will be installed.
• In August 17, 2020, Continuous Composites, the inventor of Continuous Fiber 3D Printing technology, is developing its collaboration with Arkema (CF3D).

Global rapid prototyping material Market Scope

The rapid prototyping material market is segmented on the basis of type, application, function, form and technology. 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.

Type

• Polymers
• Metals
• Ceramics
• Others

Application

• Aerospace and Defence
• Healthcare
• Transportation
• Consumer Goods and Electronics
• Manufacturing and Construction

Function

• Conceptual Model
• Functional Prototype

Form

• Filament
• Ink
• Powder

Technology

• Subtractive
• Additive
• Ink Jet Printing
• Techniques

Rapid Prototyping Material Market Regional Analysis/Insights

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

The countries covered in the rapid prototyping material 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, South Africa, Egypt, Israel, 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.

Asia-Pacific dominates the rapid prototyping material market regarding market share and revenue. This is due to the increasing growth of the construction and manufacturing industries. Furthermore, increasing demand for consumer goods, rising population and easy availability of raw material are some other regions propelling the growth of the market in this region.

Middle East and Africa is expected to be the fastest developing region during the forecast period of 2022-2029 due to the increasing adoption of product in several industries such as healthcare, education, retail and other and development of the oil and gas industry in this region.

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 Material Market Share Analysis

The rapid prototyping material 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 material market.

Some of the major players operating in the rapid prototyping material 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 (China)
• Evonik Industries AG (Germany)

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