Rapid Prototyping Materials Market: Introduction
· Prototyping companies use a variety of materials, such as acrylic, acrylonitrile butadiene styrene (ABS), polyphenylsulfone, nylon, polycarbonate, which offer performance functionality, strength, and durability depending on customer requirement for finished products or components
· In metal casting, 3D prototypes can be constructed from a special prototyping wax. Various methods of prototype casting are used with these patterns. Vacuum plaster and low-temperature furnace methods are commonly paired with prototyping wax patterns in the prototype metal field.
Key Drivers of Global Rapid Prototyping Materials Market
· Increase in demand of rapid prototyping materials from various end-use industries is expected to drive the rapid prototyping materials market during the forecast period
· Recent technological advancements, such as implementation of the 3D printing technology in prototyping and manufacturing applications for rapid prototyping has contributed significantly in market expansion. Moreover, major players operating in the global market are focusing on producing cost-effective prototyping materials for niche applications, where performance testing of prototype is not required.
· The aerospace & defense industry offers high opportunity to key players operating in the rapid prototyping materials market. The market is characterized by technological advancements and invention of new materials in the field of rapid prototyping.
Aerospace & Defense and Healthcare Segments to Offer Lucrative Opportunities
· Healthcare and aerospace & defense are two profitable end-use industries, which demand stringent product composition and dimensions. These industries use the 3D printing technology for prototyping applications.
· Technological advancements and invention of new rapid prototyping materials have enhanced product demand in the aerospace & defense industry. Critical parts used in aerospace & defense are designed and developed using the 3D printing technology, and tested before they can be used commercially. This factor is driving the demand of rapid prototyping materials in the aerospace & defense sector.
· Metal rapid prototyping is used in several medical products, such as prosthetics & implants, surgical equipment, and tissue engineering products, thereby boosting the use of rapid prototyping materials in the healthcare sector.
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High Cost of Prototyping Materials to Hamper Market
· Major factors restraining the expansion of the rapid prototyping materials market include high material costs, synchronization between prototyping and production materials, and low acceptance rate of rapid prototyping in emerging economies
· High R&D investments by key players operating in the market are expected to drive the rapid prototyping materials market
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Asia Pacific to Hold Significant Share of Global Rapid Prototyping Materials Market
· In terms of region, the global rapid prototyping materials market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
· North America dominated the rapid prototyping materials market during the forecast period, owing to increasing use of rapid prototyping materials in various applications
· The rapid prototyping materials market in Asia Pacific is projected to expand at a significant rate during the forecast period, in terms of consumption. This growth can be attributed to increase in investments and production activities in automotive and consumer goods & electronics sectors in countries such as China, India, Japan, and Australia.
· Growth of transportation and aerospace & defense sectors in Europe is expected to fuel the demand for rapid prototyping materials in the region during the forecast period. The presence of well-established automotive sector in Europe is anticipated to boost the demand for rapid prototyping materials in Germany, France, and the U.K. during the forecast period.
Key Players Operating in Global Rapid Prototyping Materials Market
The global rapid prototyping materials market is consolidated, with presence of large-sized international players. However, presence of small- and medium-sized domestic players makes the market highly competitive. Key players operating in the global rapid prototyping materials market are:
· 3D Systems Corporation
· LPW Technology Ltd.
· EOS GmbH Electro Optical Systems
· Carpenter Technology Corporation
· Renishaw Plc
· Arcam AB
· Stratasys Ltd.
· Oxford Performance Materials
· Royal DSM N.V.
· Arkema S.A.
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