The global rapid prototyping material market size is expected to be valued at USD 2.6 billion by 2025, progressing at a CAGR of 30.9% over the forecast period, according to a new report by Grand View Research, Inc. Technological advancements related to 3D printing-based production are expected to drive the global market for rapid prototyping materials over the forecast period.
The use of prototypes allows preliminary assessment of a product and verification of possible weak points of the design, which is expected to propel the demand for rapid prototyping materials over the forecast period. Rising use of rapid prototyping process in aerospace & defense industry is expected to further augment the market growth. The use of rapid prototyping in healthcare industry has aided the production of precision equipment and implants, in turn, contributing to the industry growth. In addition, increased use of rapid prototyping materials in surgical planning and simulation is anticipated to benefit the market growth over the forecast period.
Materials required for rapid prototyping process include thermoplastics, metals & alloys, and ceramics, which are used in the form of liquid, powder, filaments, or sheets. Factors such as high investment in the technology and expanding application scope of these materials in various end-use industries are expected to spike the prices, which is anticipated to restrict the market growth. Major raw material suppliers and manufacturers are engaged in developing new products that are tested for approval of products and certifications. Moreover, strategic initiatives undertaken by the players are expected to help build a strong position in the market.
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Further key findings from the report suggest:
Rapid prototyping thermoplastics segment dominated the market in 2018 and is expected to generate a revenue of USD 1,486.2 million by 2025, on account of high adoption rate, which can be attributed to its high strength, durability, stiffness, and resistance to temperature & moisture
Manufacturing & construction is expected to advance at a CAGR of 31.9% from 2019 to 2025, owing to the rapidly expanding manufacturing and construction activities in the developing economies
Asia Pacific is anticipated to progress at a CAGR of 41.7% from 2019 to 2025, owing to rapid industrialization and increasing demand for consumer goods in the region
North America accounted for USD 120.9 million in 2018 and is anticipated to reach USD 584.4 million by 2025, due to technological advancements
Rapid prototyping materials market participants are focused on developing new products and applications for consumers to attract a larger customer base.
Grand View Research has segmented the global rapid prototyping materials market on the basis of material, end use, and region:
Material Outlook (Revenue, USD Million, 2014 - 2025)
Metals & Alloys
End use Outlook (Revenue, USD Million, 2014 - 2025)
Aerospace & Defense
Manufacturing & Construction
Consumer goods & Electronics
Regional Outlook (Revenue; USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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