Rapid Prototyping Materials Market - Forecasts from 2024 to 2029

Rapid Prototyping Materials Market - Forecasts from 2024 to 2029

The global rapid prototyping materials market is anticipated to grow at a CAGR of 21.85% during the forecast period (2024-2029).

Rapid prototyping frequently uses 3D printing to quickly produce scale models or assemblies based on digital designs, most notably 3D CAD files. The ability to swiftly create and revise physical prototypes allows engineers to receive actionable input from partners in a timely and cost-effective manner. Rapid prototyping may be used by industrial designers and partners to assess aesthetics and ergonomics for user testing. At the same time, engineers can offer feedback on the material qualities and performance of a prototype. Other collaborators may test the rapid prototypes for manufacturability and usability before production.

Plastics comprise the majority of materials utilized in rapid prototyping methods. Although some plastics have the same name and chemical makeup as home-grown polymers like nylon or ABS, RP systems provide very different outcomes compared to machining or injection molding. Moreover, photopolymers have diverse chemistry and are rapidly evolving. Photopolymers mimic several plastics, including polypropylene, ABS, and polyethylene, as well as unique materials for optical and medical purposes. Inkjet printers may also produce plastic components. MultiJet Modelling (MJM) uses a soft thermoplastic substance similar to hot melt adhesives. Other inkjets use polyester or wax-based materials.

There are very few commercially accessible options for directly fabricating metal parts using rapid prototyping. Currently, injection molds are often manufactured from metal parts created through rapid prototyping. RP technology can bring significant time and cost reductions, as well as features that would be hard to provide otherwise.

Rapid prototyping is currently less expensive due to the integration of additive manufacturing, also commonly referred to as 3D printing. An organized methodology to engage its components speeds up the rate of designing the next prototype to tackle design issues. CNC machining serves as a good combination with rapid prototyping as it offers accuracies and the need to do surface finishing, especially where tight tolerance or special material is needed. It tends towards speed and accuracy in an organization, thereby ensuring that prototypes that are produced are functional and developed.

Autodesk Fusion 360 is an all-in-one platform that includes design tools for CAD design and part fabrication through fused deposition modeling, 3d printing, and Computer Numer Control milling. Integrative tools help fasten the overall design-process-production cycle, which makes it the most suitable choice for firms looking to get the most out of RP in manufacturing.

GLOBAL RAPID PROTOTYPING MATERIALS MARKET DRIVERS:

The automobile industry's expansion greatly increases the use of rapid prototyping materials. Rapid prototyping is becoming increasingly important as manufacturers rush to bring new models and novel components to market as quickly as possible. These technologies allow for rapid design iteration, rapid testing of novel concepts, and efficient validation of performance indicators. Furthermore, as customer demand for customized automobiles and sophisticated features grows, rapid prototyping makes it easier to create prototypes for bespoke designs and specialized components. As per the PIB, two-wheelers, motors, and passenger automobiles took the major market shares for the FY 2021-22. The market share was 77% for two-wheeler motors and 18% for passenger automobiles.

Apart from this, in 2021, the production of automobiles by German manufacturers exceeded 15.6 million units, as per the GTAI (Germany Trade & Invest). More than 3.1 million passenger cars and 3,51,000 units came from commercial automobiles assembled in Germany’s manufacturing industries in 2021, showing that Germany is the largest automotive manufacturing industry in Europe.

Similarly, according to statistics gathered from the India Brand Equity Foundation (IBEF), organizations considering vehicle manufacturing in India for both passengers and commercial vehicles reached 23.90 million for the financial year 2023. Therefore, the growth of the automobile industry is associated with the increase and expansion of rapid prototype materials that prove their importance in shaping the car industry’s future.
Product development is essential for the rapid prototyping materials market because it helps enhance a material’s function and applications. It is noted that the new approach can expand the application areas in aerospace engineering, health care, and other industries through the development of new materials characterized by increased mechanical properties, biocompatibility, and ecological friendliness. For instance, Axis offers quite a good range of products that can suit rather diverse industries and purposes. This variation enables customers to fully leverage the benefits of 3D printing throughout the product development cycle. Regardless of the industry, the appropriate method and material are chosen for the prototype's application or end use; whether it's SLA materials, SLS, DMLS, FDM, or Polyjet, customers have a smooth 3D printing experience.

Along with this, 3E Rapid Prototyping (3ERP) is an ISO9001-2015 certified firm founded on the 3Es principle (Excellent, Efficient, and Economic), with a committed staff and cutting-edge methodologies to ensure the project's success by providing various rapid prototyping materials. These developments not only address present market demands for customization and regulatory compliance but also anticipate future needs, establishing rapid prototyping materials as crucial to driving innovation and competitiveness in various industries worldwide.

GLOBAL RAPID PROTOTYPING MATERIALS MARKET SEGMENT ANALYSIS:

Based on the end-user industry, the construction sector is one of the fastest-growing segments.

Several significant factors drive the construction industry's use of rapid prototyping materials. These materials make it possible to create comprehensive architectural models, prototypes for structural components, and customized construction parts quickly and precisely. Rapid prototyping enables the speedy iteration and testing of new building processes and materials as the industry changes towards sustainable practices and inventive designs.

Thus, the global market of rapid prototyping materials is expanding alongside the increasing construction of buildings worldwide. US Census Bureau with the US Department of Housing and Urban New residential construction data gave permit data for April 2024, which stated a total permit of 1,440,000 and completions of 1,623,000.

According to the figures from the Canadian Construction Association, the construction sector of the nation contributes approximately USD 151 billion to its economy every year. This stands at roughly 7.4% of Canada’s gross domestic product. Furthermore, the capacity to visualize promotes efficient project planning and execution, increasing the use of rapid prototyping materials in the construction sector.
Asia Pacific's rapid prototyping materials market is anticipated to grow significantly.

The Asia Pacific rapid prototyping materials market is growing rapidly due to robust industrialization, mainly in the automotive manufacturing, electronics, and consumer products sectors. The advancement in technology in additive manufacturing, coupled with government support, is fueling the market. An increase in client-specific product demands and an increased focus on eco-friendly strategies are the major market drivers.

As mentioned, the electronics industry is emerging as a potential segment that is contributing to the growth of the market for rapid prototyping materials at a faster rate than other segments. In 2023, India's electronics sector was estimated at US$155 billion, with local manufacturers accounting for 65%, as stated by Invest India. In addition to this, China remains the world’s largest market for the sale of automobiles and the production of cars. The manufacturing of automobiles within the domestic market is expected to be over 35 million automobiles in 2025 in China. Under the NIP, India has a $1.4 trillion infrastructure investment budget, with 24% allocated to renewable energy, 18% to roads and highways, 17% to urban infrastructure, and 12% to railroads.

The major drivers for the regional rapid prototyping materials market are the well-developed automotive and aerospace industries, pushing for faster prototyping to enhance design and component realization. For instance, the Airports Entity of India (AAI), which functions under the Ministry of Civil Aviation, is in charge of the development and management of civil aviation infrastructure in India. Currently, AAI controls 137 airports among which 24 are international airports, 80 are domestic, 23 are military airports for domestic flights, and 10 airports have customs.

Global Rapid Prototyping Materials Market Key Developments:

In October 2023, Henkel added four new products to its increasing line of photopolymer resins for 3D printing at Formnext 2023 in Frankfurt. These revolutionary creative materials are poised to have a big influence in various sectors, providing excellent performance and adaptability. These products are designed to serve many applications, from quick prototyping to end-of-line manufacturing.
In May 2023, Model Solution inked a memorandum of understanding (MOU) with 3D printing expert PROTOTECH. With this partnership, the firms plan to grow their rapid prototyping business and speed up the development of high-value 3D printed components.
In March 2023, Innovative 3D Manufacturing, a prototyping bureau, chose Renishaw for metal additive manufacturing (AM) production and rapid prototyping services. Innovative 3D Manufacturing's facility in Franklin, Indiana, USA, houses two quad laser Renishaw RenAM 500Q systems and four single laser Renishaw systems.

The global rapid prototyping materials market is segmented and analyzed as follows:

By Material Type
Ceramics
Metals and Alloys
Plastics
Others
By End-User Industry
Automotive
Aerospace and Defense
Medical
Electronics
Construction
Others
By Geography
North America
United States
Canada
Mexico
South America
Brazil
Argentina
Rest of South America
Europe
United Kingdom
Germany
France
Italy
Spain
Rest of Europe
Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of the Middle East and Africa
Asia-Pacific
China
India
Japan
South Korea
Taiwan
Thailand
Indonesia
Rest of Asia-Pacific