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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Rapid Prototyping Market
Request Now !Rapid prototyping (RP) is a new manufacturing technique that enables the rapid fabrication of computer models created using 3D computer-aided software. The automotive, aerospace, defense, and other manufacturing sectors are the primary end users of rapid prototyping. Rapid prototyping is used in the automotive industry for gearbox housing, driver control systems, metal engine blocks, production tooling, and dashboards. Airline electrical generators, engine components, air inlet housing, and other lightweight parts are examples of aerospace sector applications. Furthermore, rapid prototype materials in vehicle weight reduction processes that aid in increasing vehicle performance and efficiency.
The global Rapid Prototyping market is segmented on the basis of Type, Form, Function, Application, and Region. Based on Market Type, the market is divided into Polymers, Metals, and Ceramics. In terms of application, the market is categorized into Aerospace & Defense, Healthcare, Transportation, Consumer Goods & Electronics, Manufacturing & Construction.
Key players operating in the global Rapid Prototyping industry include D Systems Corporation, Arkema S.A., LPW Technology Ltd., Carpenter Technology Corporation, Arcam AB, Stratasys Ltd., Oxford Performance Materials, EOS GmbH Electro Optical Systems, Renishaw Plc, Royal DSM N.V. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global Rapid Prototyping market.
Market scope and structure analysis
Report Metric | Details |
Market Size Available for Years | 2020–2030 |
Base Year Considered | 2020 |
Forecast Period | 2021–2030 |
Forecast Unit | Value ($) |
Segments Covered | Type, Form, Function, Application, and Region |
Companies Covered | D Systems Corporation, Arkema S.A., LPW Technology Ltd., Carpenter Technology Corporation, Arcam AB, Stratasys Ltd., Oxford Performance Materials, EOS GmbH Electro Optical Systems, Renishaw Plc, Royal DSM N.V. |
COVID-19 impact analysis
The COVID-19 pandemic has a negative impact on the rapid prototyping market share, with manufacturing activities being temporarily halted across major manufacturing hubs, resulting in a significant production slowdown. People are becoming significantly more isolated as a result of increased restrictions on public meetings and travel. Attributed to supply chain delays, stock market instability, halting of airlines, business dealings in the rapid prototyping business are also feeling the effects of the COVID-19 pandemic. It has directly impacted use of rapid prototyping industry causing supply chain and market disruption. As airports are shut down due to lockdown restrictions, the use of rapid prototyping is halted, negatively impacting the rapid prototyping market size.
Top impacting factors
The global rapid prototyping materials market growth is expanding rapidly as a result of rising demand from a variety of end-use industries. Implementation of 3D printing technology for manufacturing applications and prototyping as well as other developments is driving the rapid prototyping materials market forward. Many manufacturers are conducting R&D to find cost effective rapid prototyping material for some niche applications. Rapid prototyping is used in the additive manufacturing process to create testing models, particularly for casting and tooling, which is expected to drive the rapid prototyping market opportunity. Aerospace and defense as well as healthcare are two industries that have pioneered the use of 3D printing technology for prototyping applications. The most recent advancements and innovations in the rapid prototyping material markets have elevated the aerospace, defense, and healthcare industries to major end user segments. Some critical parts used in aerospace and defense are developed and tested using 3D printing technology, which is also driving the rapid prototyping market.
Market trends
New product launches to flourish the market
Royal DSM, a purpose-led global science-based company in Nutrition, Health and Sustainable Living with solutions, announced a collaboration with Stratasys, the global leader in 3D printing technology, in April 2019. Stratasys intends to disrupt traditional 3D printing by introducing a new printer, the V650TM Flex, into the stereolithography market. DSM is supporting this launch with its Somos materials, with the goal of constantly expanding the offering available to its customers and accelerating 3D printing adoption. This unique solution combines the power of a large-scale system with a configurable environment for fine-tuning across a wide range of resins, giving customers greater accuracy, choice, and lower costs in 3D printed prototype and part development.
Surge in usage in constructions and healthcare industry
Rapid prototyping is becoming popular in many industries as architects, builders, and manufacturers of all types look for new ways to bring their innovations to life and solve problems quickly. A design dimension, 3-D modeling, and prototyping are now all part of the construction process at various construction levels. This modeling method was originally developed to assist architects and architecture students in bringing their designs to life and providing a more accurate representation of the ideas.
The construction industry is beginning to shift toward a more mass-produced building model, in which off-site parts are built and then assembled in various configurations, much like a puzzle. In addition, development occurs in which various components are created using 3-D printing and other techniques, resulting in prototypes of various structures. A prototype model also includes a detailed design guide, allowing the actual building to be properly prepared and scheduled.
Fused Deposition Modeling is an additive manufacturing technique that is commonly used for modeling, prototyping, and manufacturing applications. It builds parts using a layer manufacturing technique. Rapid prototyping techniques revolutionized surgical simulation and preparation.
The technologies enable the creation of a three-dimensional image of anatomical objects, providing the surgeon with a clear representation of the target organ in the body. Prototyping technology is also used in the manufacture of medical devices and instruments. Surgical fasteners, scalpels, retractors, and display systems are just a few of the medical instruments that have been upgraded with 3D technology.
Furthermore, most hearing aid devices are created using stereolithography or a selective sintering laser. Teeth replacement is another area that has adapted to rapid prototyping technology. Attributed to these characteristics, the increasing demand for rapid prototyping in the healthcare industry is expected to drive the market growth in the region during the forecast period.
Key benefits of the report
Questions answered in rapid prototyping market research report
Key Market Segments
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