Rapid Prototyping Material Market Size, Share & Trends Analysis Report By Material (Thermoplastics, Metals & Alloys, Ceramics), By End Use (Healthcare, Transportation), By Region, And Segment Forecasts, 2019 - 2025

Report Overview

The global rapid prototyping material market size was valued at USD 400.9 million in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 30.9% from 2019 to 2025. Growing demand for products manufactured using 3D printing technology from various end-use industries is anticipated to promote the growth of the market for rapid prototyping materials over the forecast period.

Increasing demand for technology to improve the overall efficiency of the designing and production process is expected to propel the market growth. Technological advancements coupled with inventions across the globe are anticipated to boost the demand for rapid prototyping materials in several industries including aerospace & defense and healthcare.

The U.S. market for rapid prototyping materials is expected to witness growth owing to the rising production of 3D printed products. In addition, increased adoption of 3D printed components in critical industries such as medical and aerospace is expected to drive the market. Growth in the number of R&D initiatives regarding rapid prototyping in the U.S. is also expected to benefit the market growth. Growing industrialization in Asia Pacific along with increased adoption of technology is expected to propel the demand for rapid prototyping materials in the region. Low cost and easy availability of raw materials are projected to further promote the market growth in the region over the forecast period.

Prototyping in construction and manufacturing industries helps in studying the models before their actual implementation. It also aids in testing manufactured parts, leading to high precision. The growth of construction and manufacturing industries across the globe is expected to promote the growth of the market for rapid prototyping materials over the forecast period. Implementation of the technology allows preliminary assessment of a product and verification of possible weak points of the design. It also helps minimize the production cost and decrease the overall development time. This is likely to propel the demand for prototypes, further boosting the market growth over the forecast period.

Material Insights

Materials used in rapid prototyping include thermoplastics, metals & alloys, ceramics, and others. The use of the aforementioned materials in prototyping allows for ease of molding in the end-product, thus, attaining superior precision in product design. Material selection depends on mechanical properties, manufacturing characteristics, appearance, and cost. Thermoplastics are used on a large scale owing to their low cost and high availability across the economies and the segment is expected to progress at a CAGR of 30.4% over the forecast period. End-use industries such as manufacturing, consumer goods, and others use thermoplastics owing to their properties such as high strength, durability, stiffness, and resistance to temperature & moisture.

Factors such as high strength and corrosion resistance coupled with the ability to produce complex prototypes in one fluid build are anticipated to promote the use of metals & alloys in building prototypes. Metals are widely used for rapid prototyping across industries such as transport, aerospace & defense, and healthcare. The Healthcare industry majorly uses metals in rapid prototyping of medical equipment such as surgical instruments, implants, and others. Aluminum and steel are among the majorly used metals in rapid prototyping owing to their heat resistance, strength, and versatility. Expanding healthcare industry across the economies is anticipated to drive the overall market over the forecast period.

Technologies such as stereolithography, fused deposition modeling, selective laser sintering, laminated object manufacturing, and direct metal laser sintering are used to build prototypes from metals & alloys, thermoplastics, and ceramics, and others. These technologies are widely used across the globe and many new technologies are in the developmental stage. Rapid prototyping materials are used in various forms such as liquid, sheets, powder, and filaments. The material form depends on the technology used to develop the prototypes. For instance, selective laser sintering makes use of thermoplastics in powder form, whereas, laminated object manufacturing makes use of thermoplastics in sheet form.

End-use Insights

Based on end-use, rapid prototyping material market is segmented into aerospace & defense, healthcare, manufacturing & construction, consumer goods & electronics, transportation, and others. Manufacturing & construction industry is anticipated to advance at a CAGR of 31.9% from 2019 to 2025. Expanding manufacturing & construction industry in developing economies, owing to rising industrial manufacturing and rapid infrastructure development, is anticipated to propel the growth of the market for rapid prototyping materials over the forecast period. Rising demand for steel and aluminum on account of the expansion of the automotive and transportation industries is expected to promote market growth.

The Healthcare industry is anticipated to progress at a CAGR of 26.7% from 2019 to 2025, owing to the rising use of rapid prototyping in surgical planning and simulation applications. In the healthcare industry, prototypes help create a realistic view of a target organ in the body, which is extremely beneficial for surgeons. Further, rapid prototyping materials find application in the development of medical devices and instruments. The Aerospace & defense industry is anticipated to witness growth over the coming years on account of growing research & development activities and rising demand across the globe. It accounted for USD 50.1 Million and is anticipated to propel at a CAGR of 25.5% from 2019 to 2025.

Regional Insights

Asia Pacific is anticipated to witness the highest growth rate over the forecast period owing to the rapid development of the manufacturing & construction industry in several economies including China and Japan. In addition, the growing demand for consumer goods owing to the burgeoning population is anticipated to propel the market growth. Asia Pacific market is anticipated to advance at a CAGR of 41.7% from 2019 to 2021. It is expected to account for USD 1,386.8 Million by 2025, owing to low cost and easy availability of raw materials in the region.

The adoption of rapid prototyping in various sectors including healthcare, education, construction, and retail in the Middle East & Africa is anticipated to promote market growth in the region. The increasing need for rapid prototyping in the oil & gas industry is projected to fuel the market growth in the region over the forecast period.

Key Companies & Market Share Insights 

Various players in the market for rapid prototyping materials invest in research & development activities with the intention of developing technologically advanced and highly-efficient prototypes. They also focus on developing new applications for the product in order to attract a large consumer base. Some of the key strategic initiatives undertaken by the players to strengthen their presence and boost sales include new product development, expansion, mergers & acquisitions, and partnerships. Some of the prominent players in the rapid prototyping material market include:

• 3D Systems Corporation

• EOS GmbH (Electro-Optical Systems)

• Renishaw Plc

• Stratasys Ltd.

• Carpenter Technology Corporation

• Arcam AB

Key Companies & Market Share Insights

Various players in the market for rapid prototyping materials invest in research & development activities with the intention of developing technologically advanced and highly-efficient prototypes. They also focus on developing new applications for the product in order to attract a large consumer base. Some of the key strategic initiatives undertaken by the players to strengthen their presence and boost sales include new product development, expansion, mergers & acquisitions, and partnerships. Some of the prominent players in the rapid prototyping material market include:

• 3D Systems Corporation

• EOS GmbH (Electro-Optical Systems)

• Renishaw Plc

• Stratasys Ltd.

• Carpenter Technology Corporation

• Arcam AB

Rapid Prototyping Material Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global rapid prototyping material market report on the basis of material, end-use, and region:

• Material Outlook (Revenue, USD Million, 2014 - 2025)

  • Thermoplastics

  • Metals & Alloys

  • Ceramics

  • Others

• End-use Outlook (Revenue, USD Million, 2014 - 2025)

  • Aerospace & Defense

  • Healthcare

  • Manufacturing & Construction

  • Consumer goods & Electronics

  • Transportation

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa