(PharmaNewsWire.Com, February 04, 2020 ) The report "Rapid Prototyping Materials Market by Type (Polymers, Metals, Ceramics), Form (Filament, Powder, Ink), Function (Conceptual, Functional Prototype), End User (Aerospace & Defense, Manufacturing & Construction, Healthcare) - Global Forecast to 2021", The global rapid prototyping materials market was valued at USD 217.5 Million in 2015 and is projected to reach USD 903.8 Million by 2021, at a CAGR of 26.8% from 2016 to 2021. Increasing demand of rapid prototyping materials from end-use industries such as aerospace & defense, healthcare, and manufacturing & construction is driving the growth of this market.
Healthcare and aerospace & defense segments are expected to lead the rapid prototyping materials market during the forecast period
The healthcare and aerospace & defense are two highly critical end user segments that demand for stringent product dimensions, along with their compositions. Aerospace & defense and healthcare industries have initiated the use of 3D printing technology for prototyping applications. The latest technological advancements and invention of new materials in rapid prototyping have made aerospace & defense a major end user in the rapid prototyping market. Critical parts used in aerospace & defense are designed and developed using 3D printing technology, and tested before they can be used commercially. This further drives the demand of rapid prototyping materials in the aerospace & defense sector. Moreover, in the healthcare sector, metal rapid prototyping is used in several medical products, such as surgical equipment, prosthetics & implants, and tissue engineering products, thereby propelling the applicability of rapid prototyping materials in this sector.
Increased adoption of rapid prototyping materials in the aerospace & defense industry is expected to propel the growth of the rapid prototyping materials market
The aerospace & defense industry provides high growth prospects to key players operating in the rapid prototyping materials market. Growth in this market is mainly attributed to technological advancements and invention of new materials in the field of rapid prototyping.
Browse in-depth TOC on "Rapid Prototyping Materials Market” 62 - Market Data Tables 52 - Figures 180 - Pages
The North America rapid prototyping materials market is expected to witness high growth owing to the increasing demand of these materials from varied end-use industries in this region
North America is the largest market for rapid prototyping materials, owing to the developed industrial sectors in this region. Europe has a large supplier base for rapid prototyping materials. Countries such as Germany, the U.K., France, and Italy in the European region are offering lucrative growth opportunities to major players in the rapid prototyping materials market.
Key players operating in this market include 3D Systems Corporation (U.S.), LPW Technology Ltd. (U.K.), EOS GmbH Electro Optical Systems (Germany), Carpenter Technology Corporation (U.S.), Renishaw Plc (U.K.), Arcam AB (Sweden), Stratasys Ltd. (U.S.), Oxford Performance Materials (U.S.), Royal DSM N.V. (Netherlands), and Arkema S.A. (France), among others.
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