Market Size of Rapid Prototyping Materials Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Rapid Prototyping Materials Market Analysis
The Global Rapid Prototyping Materials Market is projected to register a CAGR of over 7% during the forecast period (2021-2026).
The market was negatively impacted by COVID-19 in 2020. Several countries were forced to go in lockdown owing to the pandemic scenario, which led to the shutdown of manufacturing facilities of almost every industry worldwide for a specified time. Automotive production decreased around the world due to lockdown regulations. Furthermore, owing to contractual obligations, resource availability, deliverables, health and safety measures, and project delays or cancellations created by pandemic, the construction industry across most countries around the world was affected badly thus decreasing the market studied. However, the medical industry was positively impacted by the pandemic. The demand for medical devices has been increasing as many manufacturing companies increased the production of devices, which in turn is expected to drive the growth of the market studied.
- Over the medium term, increasing applications from the medical sector and growing demand from the manufacturing sector are the major factors driving the market growth.
- On the flip side, the outbreak of COVID-19 is expected to hinder the market growth.
- North America region dominated the market, while Asia-Pacific region is expected to register the fastest growth through the forecast period.
