New York City, NY, 15 April, 2020/ 24 Market Reports: It is estimated for the rapid prototyping materials market to reach USD 903.8 Million by 2021, at a CAGR of 26.8% between 2016 and 2021. High demand for product modification and development, the low cycle time of printing, expected increase in supply capacity with forwarding integration, and development of application-specific grades are driving the market during the forecast period.
Type, form, function, end-user, and region are the segmentation for the market. Aerospace & defence, healthcare, automotive, consumer goods & electronics, and manufacturing & construction, among others are the segmentation based on end-user.
Aerospace & defence segment accounted for the largest share of the rapid prototyping materials market
Among all end-users, the aerospace & defence segment accounted for the largest share of the rapid prototyping materials market. This large share is mainly attributed to the latest technological advancements and invention of new materials in rapid prototyping in the aerospace & defence 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. However, the growing demand for high-quality 3D printing materials that are certified by various governing bodies for medical applications is further driving the market for rapid prototyping materials in the healthcare sector.
North America is leading the market during the forecast period
Owing to the increasing adoption of rapid prototyping materials by varied end-use industries in this region, North America is leading the market during the forecast period. The increasing production activities in the automotive and consumer goods & electronics sectors is driving the market in the Asia Pacific region during the forecast period.
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