Press release
Rapid Prototyping Materials Market Key Players Analysis - 3D Systems Corporation; EOS GmbH (Electro-Optical Systems); Renishaw Plc; Stratasys Ltd.
Rapid Prototyping Materials Market
The global rapid prototyping materials market is estimated to reach over 8283.33 million by the year 2031, exhibiting a CAGR of 31.56% during the forecast period.
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Rapid prototyping refers to the process of producing physical components and models, leveraging computer-aided design (CAD) to facilitate the assembly of various products. This approach, along with rapid tooling, utilizes additive manufacturing technologies to swiftly fabricate tangible parts. Rapid prototyping is particularly effective in accelerating investment casting processes. Common materials used for plastic prototypes include hard polyurethane foam, ABS, and polystyrene, while ceramics, metals and alloys, thermoplastics, and other materials are also employed. The selection of materials depends on factors such as mechanical properties, manufacturing characteristics, aesthetic requirements, and cost considerations. These materials enhance the molding process, resulting in improved precision in product design.
The benefits of rapid prototyping include reduced design and development cycles, lower overall costs for product development and functional testing, and mitigation of risks. It also enables increased user involvement during the design phase and supports evaluations related to ergonomics and human factors. Market growth is expected to be driven by rising demand for technologies that improve the efficiency of design and manufacturing processes. Furthermore, technological advancements and innovations worldwide are anticipated to boost the demand for rapid prototyping materials across various sectors, including aerospace, defense, and healthcare.
List of Prominent Players in the Rapid Prototyping Materials Market:
• 3D Ceram
• 3D Systems, Inc.
• Arcam AB
• ArcelorMittal
• Arkema S.A.
• Carpenter Technology Corporation
• Evonik Industries
• CRP SERVICE S.r.l.
• CRS Holdings, LLC
• Envisiontec US LLC
• EOS GmbH (Electro-Optical Systems)
• GKN PLC
• Golden Plastics
• Höganäs AB
• Lithoz AB
• LPW Technology Ltd.
• Materialise NV
• New Golden Plastics
• Oxford Performance Materials
• Renishaw PLC
• Royal DSM
• Sandvik AB
• Stratasys Ltd.
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Market Dynamics:
Drivers -
The rapid prototyping materials market is expected to benefit significantly from the use of testing models essential for casting and tooling, which are produced through additive manufacturing processes. The adoption of 3D printing technology for prototyping applications has gained traction across key end-use sectors such as aerospace, defense, and healthcare. Rapid prototyping encompasses a suite of technologies that progressively build physical objects from computer-aided design (CAD) data, enabling designers to rapidly produce tangible prototypes rather than relying solely on two-dimensional sketches.
Challenges -
The market's growth faces several challenges, including the high cost of materials, difficulties in aligning prototyping materials with those used in full-scale production, and limited adoption rates of rapid prototyping technologies in emerging economies. Additionally, substantial research and development expenditures by leading industry participants may constrain market expansion.
Regional Trends -
The Asia Pacific region is projected to witness robust growth, with a compound annual growth rate (CAGR) of approximately 8.5% over the forecast period. This growth is primarily driven by the increasing significance of prototyping within the automotive industry. Moreover, rising government investments and supportive policies in the defense and public sectors are expected to further stimulate demand for rapid prototyping materials in the region. North America is forecasted to maintain the largest market share, accounting for around 34.0% of the global market value in 2021. The region's growth is propelled by the presence of established industry leaders and increased R&D investments, particularly in the automotive, aerospace, defense, and healthcare sectors.
Recent Developments:
• In September 2021, VisiJet Wax Jewel Red, a brand-new material for jewellery design, is presented by 3D Systems.
• In January 2020, an online 3D printing service with immediate quotes was introduced in Europe by Xometry Europe GmbH.
• In December 2019, Echo Engineering & Production Supplies, Inc. introduced revolutionary rapid silicone prototyping technology, allowing the business to comprehend customers' objectives, develop a solution, and deliver working prototypes.
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Segmentation of Rapid Prototyping Materials Market-
Rapid Prototyping Materials Market By Type outlook-
• Polymer
• Metals & Alloys
• Ceramics
• Others
Rapid Prototyping Materials Market By Form outlook-
• Filament
• Ink
• Powder
Rapid Prototyping Materials Market By Function outlook-
• Conceptual Model
• Functional Prototype
Rapid Prototyping Materials Market By End-use outlook-
• Aerospace & Defense
• Healthcare
• Manufacturing & Construction
• Consumer goods & Electronics
• Transportation
• Others
Rapid Prototyping Materials Market By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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