Press release
Rapid Prototyping Materials Market Estimated to Experience a Hike in Growth by 2025
The global rapid prototyping materials market is experiencing a strong growth because of the increasing demand from varied end use industries. Implementation of 3D printing technology for manufacturing application and prototyping and other development are contributing to the growth of rapid prototyping materials market. Research and developments activities are being done by many manufacturers to find cost effective rapid prototyping material for some niche applications. In additive manufacturing process rapid prototyping is used to create testing models especially required for casting and tooling which is anticipated to drive the rapid prototyping materials market.
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The highly critical end use industries like aerospace & defence and healthcare have introduced the use of 3D printing technology for prototyping applications. The latest advancements and innovations in rapid prototyping material markets have made aerospace and defence and healthcare industries as major end user segments. Some critical parts used in aerospace and defence are developed using 3D printing technology and they are tested before being used commercially which is also driving the rapid prototyping materials market.
The global Rapid Prototyping Materials Market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). North America leads the global Rapid Prototyping Materials Market in terms of demand because of the developed industrial sector in this region. The North America rapid prototyping material market is expected to grow at a higher CAGR during the forecast period. Low cost and easy availability of raw material in one of the important factor which is driving the growth in APEJ rapid prototyping material market. Europe countries such as U.K., Germany, France, and Italy are expected to offer lucrative growth opportunities for the leading global players in rapid prototyping materials market.
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