Rapid Prototyping Market

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

• This study presents the analytical depiction of the rapid prototyping market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the rapid prototyping market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight rapid prototyping market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed rapid prototyping market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in rapid prototyping market research report

• What are the leading market players active in the rapid prototyping market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future would help in taking further strategic steps?
  • Upcoming report specific FAQs examples:  
    • What is rapid prototyping?
    • What does rapid prototyping allow organizations to achieve?
    • Which technologies combine to make rapid prototyping a critical organizational asset?
    • What are the key benefits of the rapid prototyping market report?
    • Which niches should companies associated with recent improvements establish a presence in?