Automotive and Aerospace at Forefront of Harnessing New Technologies in Rapid Prototyping Market, Valuation to Rise at CAGR of 12.91% During 2018 - 2026

ALBANY, N.Y., March 23, 2021 /PRNewswire/ -- Rapid prototyping has emerged as a cutting-edge method of prototyping products in various manufacturing products with the help of 3D printing technologies. The flexibility in achieving the required user interface design and reduced development lifecycle for the final products are the underlying major consumer propositions for the strides in rapid prototyping market. Across stakeholders, developers, designers, and final users, a range of technologies including selective laser sintering, ink jet printing techniques, and fused deposition modelling are seeing adoption. Industries such as aerospace and defense and automotive are leveraging rapid prototyping to speed up design process and meet consumer expectations of quality faster.

Healthcare and consumer goods manufacturing industries are warming up to the potential of rapid prototyping process in reducing the time-to-market of their products. Clocking CAGR of 12.91% during 2018 – 2026, the global valuation is expected to touch the mark of 6,513.9 Mn by 2026-end.

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Key Findings of Rapid Prototyping Market Study

Advances in Materials Expand Potential

Advances made in materials that can be used with 3D printing have attracted numerous industries to adopt the rapid prototyping processes with the objectives of reducing the development life cycles and time-to-market. Consumer products manufacturers are adopting these technologies to meet the rapidly change in designs parameters to meet their customers' needs. Healthcare industries is another key area where businesses find rapid prototyping to hold incredible avenue in helping them develop biomaterials of complex designs in less time. Over the years, the market proposition for this in developing next-generation implants and surgical instruments in the healthcare industry will expand horizon for the industry players.

Analyze global rapid prototyping market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

New Additive Manufacturing Technologies to Expand Horizon

Advent of additive manufacturing processes has transformed manufacturing industries. The rapid prototyping market is making strides on the back of remarkable advances in computing technologies and 3D printing systems. New techniques for metal 3D printing systems have emerged in recent years, and the material is one of the most lucrative segments, on account of their use in making prototypes in the automotive and aerospace and defense. The increasing array of cutting edge rapid prototyping tools will help boost the demand potential in the near future.

High Cost May be Demand Dampener

The high cost of 3D printers is one of the key impediments for the commercial adoption of rapid prototyping technologies in various industries. Particularly, the high cost dissuades numerous industries to integrate the additive manufacturing technologies in their production plants. Nevertheless, the decline in the cost of 3D printing will help allay these concerns in the near future. The freedom with the designing is one of the compelling propositions that will boost adoption. 

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Rapid Prototyping Market: Key Driving Factors and Avenues

• Changing consumer expectations in several industry verticals is a key trend for propelling interest in rapid prototyping technologies
• Focus on launching low-cost 3D printers to boosts adoption in rapid prototyping market
• Advances made in computing systems and software are propelling improvements in design-to-prototype workflows

Rapid Prototyping Market: Key Participants

• Sandvik AB
• Carpenter Technology Corporation
• GE Additive
• 3D Systems, Inc.
• Stratasys Ltd.

Explore 298 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Rapid Prototyping Market (Technology - Subtractive, Additive (Stereolithography, Selective Laser Sintering, Fused Deposition Modeling, Ink Jet Printing Techniques); Material - Metal, Polymer, Ceramic, Plaster and Starch, Foundry Sand Parts; End use Industry - Aerospace and Defense, Consumer Goods &Electronics, Automotive, Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026 at https://www.transparencymarketresearch.com/rapid-prototyping-market.html

Rapid Prototyping Market: Regional Dynamics

• Marked presence of well-entrenched players, especially in the U.S., makes North America a lucrative market
• Rapidly expanding demand in automotive and healthcare industries will spur the prospects of this regional market.
• Early uptake of novel products to cement the revenue potential of this region in the global market during the forecast period.  

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