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Rapid prototyping is a term that refers to a group of technologies that are used to create physical objects step by step directly from computer-aided design (CAD) data. Instead of only two-dimensional drawings, these "three-dimensional printers" enable designers to easily create physical prototypes of their designs. This technology has advanced to the point that it can now be used to produce a variety of automobile, construction, and healthcare machinery components. Rapid prototyping is often used to create customized jewelry, military arms and aerospace components. Rapid prototyping is widely used in the production of consumer goods and electronics because of the importance of time in consumer product sales. Rapid prototyping has resulted in the use of new types of materials with increased performance and with the potential to standardize according to the prototype. Metals, polymers, and ceramics are the most commonly used materials for rapid prototyping, while polymers being the most popular in the industry. Metals such as copper, magnesium, titanium and steel used for rapid prototyping offer tremendous benefits including heat resistance, strength, versatility and cost-effectiveness, while polymers such as ABS used for rapid prototyping offers good rigidity, high impact strength, and heat resistance. Rapid prototyping is being used because this technology allows faster development and better prototype designing than conventional prototyping techniques.
COVID-19 Scenario Analysis
The market is expected to grow considerably due to increase in demand for rapid prototyping materials for various processes in the pharmaceutical, aerospace, consumer goods and electronics industries. In addition, increased research and development (R&D) activities in the field of rapid prototyping materials have resulted in the discovery of newer technologies and inventions, which are expected to drive the market growth in the coming years. Rapid industrialization in the Asia-Pacific region has led to economic growth and a booming manufacturing sector, which is expected to improve the growth of the rapid prototyping materials market. Furthermore, the market is expected to grow during the forecast period due to rise in demand for higher production demand as a result of evolving customer behavior.However, high cost and lack of knowledge about these materials among the manufacturers in developing countries are expected to hinder the steady growth of the rapid prototyping materials market.
North America is expected to experience significant growth as a prerequisite to building materials in various end-user industries due to its inherent existence of adopting technologically advanced products and materials in their inception. The region is projected to be followed by Asia-Pacific in terms of consumptionowing to the rise in demand for rapid prototyping materials in the healthcare and aerospace industries. Increase in usage of rapid prototyping materials in 3Dprinting and surge in R&D activities in the Asia-Pacific region is emerging as a regional prototyping materials consumption market activity in this area.
The global rapid prototyping materials trends are as follows:
Objet Geometries introduced PolyJet Matrix Technology with the launch of its Connex500 system. This unrivaled technology produces parts from two materials in a single operation. During the build process, the materials are blended in user-specified ratios to create a variety of mechanical properties throughout the prototype.
Key Benefits of the Report
Questions Answered in the Global Rapid Prototyping Materials Market Research Report:
Key Market Segments
Key Market Players