Rapid Prototyping Materials Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Rapid Prototyping Materials Market Analysis
The Global Rapid Prototyping Materials Market is projected to register a CAGR of over 7% during the forecast period (2021-2026).
The market was negatively impacted by COVID-19 in 2020. Several countries were forced to go in lockdown owing to the pandemic scenario, which led to the shutdown of manufacturing facilities of almost every industry worldwide for a specified time. Automotive production decreased around the world due to lockdown regulations. Furthermore, owing to contractual obligations, resource availability, deliverables, health and safety measures, and project delays or cancellations created by pandemic, the construction industry across most countries around the world was affected badly thus decreasing the market studied. However, the medical industry was positively impacted by the pandemic. The demand for medical devices has been increasing as many manufacturing companies increased the production of devices, which in turn is expected to drive the growth of the market studied.
- Over the medium term, increasing applications from the medical sector and growing demand from the manufacturing sector are the major factors driving the market growth.
- On the flip side, the outbreak of COVID-19 is expected to hinder the market growth.
- North America region dominated the market, while Asia-Pacific region is expected to register the fastest growth through the forecast period.
Rapid Prototyping Materials Market Trends
This section covers the major market trends shaping the Rapid Prototyping Materials Market according to our research experts:
Growing Demand from the Manufacturing Sector
- Rapid prototyping (RP) is a new manufacturing technique that allows for fast fabrication of computer models designed with 3D computer-aided software.
- Manufacturing sectors such as automotive, aerospace, defense, and other industries are the key end-users for rapid prototyping.
- Epoxies, colorable resins, filled resins ABS, polyacrylate, etc., wax, nylon, metals, and ceramics are the materials being used in Laser Sintering (SLS), Stereolithography Apparatus (SLA), FDM, Inkjet based printing techniques.
- Rapid prototyping is in high demand in North America and Europe because of its advantages. RP can be as a fast and inexpensive method of prototyping design ideas, multiple design iterations, physical validation of design, thereby reducing product development time largely.
- Rapid prototyping finds applications in the automobile sector such as gearbox housing, driver control system, metal engine block, production tooling, and dashboards.
- Aerospace sector applications include airline electrical generators, engine components, air inlet housing, and other lightweight parts.
- Additionally, rapid prototype materials in vehicle weight reduction processes that support in increasing the performance and efficiency of the vehicles.
- However, the automobile manufacturing sector has been decling due to COVID-19. According to International Organization of Motor Vehicle Manufacturers (OICA), global production of vehicles, declined by 16% in 2020 when compared to 2019. This is expected to significantly impact the market growth in the short to medium-term.
- Still, increasing applications for manufacturing units, technological advancements in materials that are being in production in developed regions are expected to drive the demand for rapid prototyping materials market through the years to come.
North America to Dominate the Market
- North America is expected to dominate the global market owing to the developed industrial sector in this region, coupled with the continuous investments done in the region to advance the medical and aerospace technologies through the years.
- Medical sector is one of the major end-users that use rapid prototyping technology to make surgery equipment, implants, scaffolds for tissue engineering, stents, prosthetics, and many others.
- The healthcare sector in the United States is by far one of the most advanced sectors in the country. The country's expenditure in healthcare stood at USD 3.8 trillion in 2019, an increase of around 4.8% over 2019. For 2020-2027, national healthcare spending is projected to grow at an average of 5.7% and reach approximately USD 6 trillion by 2027.
- According to the SelectUSA, a program by The International Trade Administration (ITA), U.S. Department of Commerce, the medical devices market in the country is the largest medical devices market in the world, is valued at USD ~168 billion in 2019 and is estimated to reach USD 208 billion by 2023.
- Metal materials, ceramics, and alloys are being used in the manufacturing of aerospace and defense products. The United States has the largest aerospace industry in the world. According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037, owing to the growth in air cargo. Also, the United States mainliner carrier fleet is expected to grow at a rate of 54 aircraft per year, due to the existing fleet getting older.
- Additionally, Canada ranks first in civil flight simulation, third in civil engine production, and fourth in civil aircraft production globally. It is the only nation that ranks among the top five in all key sector categories.
- The aerospace industry in Canada is at a turning point, and exponential growth is predicted for the global industry over the next 20 years, which is expected to significantly drive the consumption of market studied for application in the aerospace industry.
- The outbreak of COVID-19 has affected the economic growth of all the countries at present, as almost all the manufacturing and service sectors has affected due to lockdown.
- This is expected to slowdown the market for rapid prototyping materials in the short term. However, the market is expected to grow during the forecast period.
Rapid Prototyping Materials Industry Overview
The global rapid prototyping materials market is fragmented in nature. Some of the major players of the market studied include Sandvik AB, Arkema, CRS Holdings Inc., EOS, and DSM, among others.
Rapid Prototyping Materials Market Leaders
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EOS
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DSM
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CRS Holdings Inc.
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Sandvik AB
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Arkema
*Disclaimer: Major Players sorted in no particular order
Rapid Prototyping Materials Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Applications for the Medical Industry
- 4.1.2 Growing Demand from the Manufacturing Sector
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4.2 Restraints
- 4.2.1 Unfavourable conditions arising due to COVID-19 Outbreak
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porters Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Material Type
- 5.1.1 Ceramics
- 5.1.2 Metals and Alloys
- 5.1.3 Plastics
- 5.1.4 Other Types
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5.2 End-user Industry
- 5.2.1 Automotive
- 5.2.2 Aerospace and Defense
- 5.2.3 Medical
- 5.2.4 Electronics
- 5.2.5 Construction
- 5.2.6 Other End-user Industries
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3D Systems, Inc.
- 6.4.2 Arkema
- 6.4.3 CRS Holdings Inc.
- 6.4.4 DSM
- 6.4.5 EOS
- 6.4.6 GENERAL ELECTRIC
- 6.4.7 Höganäs AB
- 6.4.8 Oxford Performance Materials
- 6.4.9 Renishaw plc.
- 6.4.10 Sandvik AB
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityRapid Prototyping Materials Industry Segmentation
Rapid prototyping enables manufacturers to quickly develop and test products, making adjustments and resolving issues as needed. A prototype model serves as a detailed construction guide, allowing for more accurate planning and scheduling of the actual structure. The rapid prototyping market is segmented by materialtype, end-user industry, and geography. By mateiral type, the market is segmented into ceramics, metals and alloys, plastics, and other material types. By end-user industry, the market is segmented into automotive, aerospace and defense, construction, medical, electronics, and other end-user industries. The report also covers the market size and forecasts for the Rapid Prototyping Market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD Million).
| Material Type | Ceramics | |
| Metals and Alloys | ||
| Plastics | ||
| Other Types | ||
| End-user Industry | Automotive | |
| Aerospace and Defense | ||
| Medical | ||
| Electronics | ||
| Construction | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Rapid Prototyping Materials Market Research FAQs
What is the current Rapid Prototyping Materials Market size?
The Rapid Prototyping Materials Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Rapid Prototyping Materials Market?
EOS, DSM, CRS Holdings Inc., Sandvik AB and Arkema are the major companies operating in the Rapid Prototyping Materials Market.
Which is the fastest growing region in Rapid Prototyping Materials Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Rapid Prototyping Materials Market?
In 2024, the North America accounts for the largest market share in Rapid Prototyping Materials Market.
What years does this Rapid Prototyping Materials Market cover?
The report covers the Rapid Prototyping Materials Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Rapid Prototyping Materials Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Rapid Prototyping Materials Industry Report
Statistics for the 2024 Rapid Prototyping Materials market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Rapid Prototyping Materials analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
