Rapid Prototyping Market Expected to Reach $15 Billion by 2031 — Allied Market Research

WILMINGTON, DELAWARE, UNITED STATES, July 17, 2024 /EINPresswire.com/ -- The key factors driving the growth of the rapid prototyping market include the rise in demand for customization of products to gain a competitive edge and the surge in the adoption of multiple materials for prototyping. Allied Market Research, titled, "Rapid Prototyping Market," The rapid prototyping market was valued at $2.5 billion in 2021, and is estimated to reach $15 billion by 2031, growing at a CAGR of 20.4% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://www.alliedmarketresearch.com/request-sample/A14783

Using three-dimensional computer-aided design data, rapid prototyping is a group of techniques used to quickly build a scale model of a physical item and connection. The process of creating the item, model, or assembly is often carried out by utilizing additive manufacturing, also known as 3D printing. Many manufacturing techniques are being used in rapid prototyping 3D printing, and among them, layered additive manufacturing is the most common.

Key factors driving the growth of the rapid prototyping industry include the rise in demand for the customization of products to gain a competitive advantage. The use of rapid prototyping for the in-house development of prototypes is projected to lead to the regular introduction of products. Further, Traditional prototyping machines can utilize only one type of material; however, modern rapid prototyping equipment can utilize multiple materials simultaneously. They support various materials such as polymers, ceramics, and metals for printing.

On the other hand, the high cost related to rapid prototyping, along with the need for skilled professionals is holding back the market. If a manufacturing company adopts rapid prototyping technology, it would eventually result in high initial investment. In the meantime, digital manufacturing's increased adoption of rapid prototyping is expected to boost the market in the forecast period. Artificial intelligence (AI), augmented reality (AR), advanced robotics, smart devices, and 3D printing have revolutionized the manufacturing process in various industries.

𝐆𝐞𝐭 𝐚 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/request-for-customization/A14783

The rapid prototyping market size is segmented based on material, technology, end-user industry, and region. In terms of market segmentation by material, the market was dominated by the thermoplastics segment in 2021, whereas the metals and alloys segment is expected to witness a higher growth rate during the forecast period. Thermoplastics or plastic rapid prototyping are extensively used for rapid prototyping due to their availability, ease of use, strength & durability, cost-effectiveness, and versatility. In terms of market segmentation by technology, the market was dominated by the stereolithography segment in 2021, whereas the fused deposition modeling segment is expected to witness a higher growth rate during the forecast period. The factors driving the stereolithography technology market growth include a wide choice of materials available, high resolution, shortened development cycles, and highly accurate & durable outputs.

In terms of market segmentation by end-user industry, the market was dominated by the manufacturing and construction segment in 2021, whereas the consumer goods and electronics segment is expected to witness a higher growth rate during the forecast period. The increase in the need of consumers for new & varied products and the rise in disposable income of people are the rapid prototyping market trends in this market. In terms of region, the market was dominated by North America in 2021, even though Asia-Pacific is expected to grow at a faster rate during the forecast period. North America is one of the major regions in the global rapid prototyping market analysis, in terms of revenue generation and market share. Key players operating in this region such as Stratasys Ltd. and 3D Systems Corporation have been adopting various strategies to provide advanced solutions, which is expected to fuel market growth, leading to its high market share.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A14783

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

• In 2021, the thermoplastics segment in the material segmentation accounted for the highest rapid prototyping market share and is expected to reach $7,158.28 million by 2031 at a CAGR of 20.9%, while the metals and alloys segment is projected to expand at a faster CAGR of 21.5% during the forecast period.
• In 2021, the stereolithography segment in the technology segmentation accounted for maximum revenue and is likely to touch $5,517.01 million at 21.1% CAGR by 2031, while the fused deposition modeling segment is estimated to grow at a faster rapid prototyping market growth of 21.6% CAGR during the forecast period.
• In 2021, the manufacturing and construction segment in the end-user industry segmentation garnered the largest market share and is estimated to be at $6,329.2 million by 2031 at 21.1% CAGR, while the consumer goods and electronics segment is likely to witness a higher expansion rate of 23.8% during the forecast period.
• In 2021, North America contributed a significant share of the rapid prototyping market and is expected to touch $5,555.97 million at 20.9% CAGR, and Asia-Pacific is expected to expand at the fastest rate during the forecast years at a CAGR of 22%.

The rapid prototyping market players profiled in the report include 𝟑𝐃 𝐒𝐲𝐬𝐭𝐞𝐦𝐬, 𝐈𝐧𝐜., 𝟑𝐃𝐅𝐨𝐫𝐭𝐢𝐟𝐲, 𝐈𝐧𝐜., 𝐀𝐫𝐜𝐚𝐦 𝐀𝐁 (𝐆𝐞𝐧𝐞𝐫𝐚𝐥 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜), 𝐂𝐚𝐫𝐛𝐨𝐧 𝟑𝐃, 𝐃𝐞𝐬𝐤𝐭𝐨𝐩 𝐌𝐞𝐭𝐚𝐥, 𝐈𝐧𝐜., 𝐄𝐱𝐎𝐧𝐞 𝐂𝐨𝐦𝐩𝐚𝐧𝐲, 𝐇𝐨𝐠𝐚𝐧𝐚𝐬 𝐀𝐁, 𝐌𝐚𝐫𝐤𝐟𝐨𝐫𝐠𝐞𝐝, 𝐎𝐩𝐭𝐨𝐦𝐞𝐜, 𝐈𝐧𝐜. 𝐚𝐧𝐝 𝐒𝐭𝐫𝐚𝐭𝐚𝐬𝐲𝐬, 𝐋𝐭𝐝. Market players have adopted various strategies, such as product launches, collaborations & partnerships, joint ventures, and acquisitions to expand their foothold in the rapid prototyping market.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

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Allied Market Research
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