Fastest-Growing Rapid Liquid Printing Market during 2023-2027
Posted by Tom C on February 2nd, 2021
The rapid liquid printing market size is expected to grow from USD 48 million in 2023 to USD 284 million by 2027 at a CAGR of 55.6% from 2023 to 2027. Fastest printing among all 3D printing technologies, ability to print using industrial-grade materials, and ease of development of customized products are some of the major factors driving the growth of the rapid liquid printing market.
Rapid liquid printing market for services to grow at a higher CAGR during forecast period
The market for services is expected to grow at a higher CAGR during the forecast period. The high growth is expected due to the projected increase in the demand for custom design and manufacturing. With the increasing number of companies offering 3D printing services, it is expected that several companies will adopt rapid liquid printers for manufacturing purposes. As the rapid liquid printing technology facilitates the manufacturing of products with complex geometries and offers competitive pricing compared to traditional manufacturing methods, several companies across industries are expected to outsource everything—from the design to the production of customized products to sustain in the highly competitive markets. As a result, the market for rapid liquid printing services is expected to witness the highest growth rate.
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Rapid liquid printing market for automotive vertical is expected to grow at highest CAGR during forecast period
The market for automotive vertical is expected to capture the highest CAGR during the forecast period. This growth is mainly driven by the increasing demand for hybrid vehicles and battery-operated vehicles, along with the development of autonomous vehicles, is driving the growth of the global automotive industry. Moreover, the rise in demand for electric and autonomous vehicles is expected to fuel the demand for new automobile components and improved engine design. The adoption of 3D printing technologies to decrease the overall manufacturing cost of vehicles and improve interior designs is expected to fuel the market for 3D printing technologies in the automotive vertical.
APAC to be fastest-growing rapid liquid printing market during forecast period
APAC is expected to be the fastest-growing market for rapid liquid printing. The growing demand for 3D printing technologies from automotive, aerospace & defense, utility, and healthcare verticals in APAC is expected to support the growth of rapid liquid printing in the region. The requirement to meet the demand for consumer products of the growing population in APAC, along with the ongoing industrialization in emerging economies, is expected to fuel the growth of consumer products and automotive verticals in this region. This, in turn, is expected to contribute to the growing demand for 3D printing technologies, which again translates to the growing demand for rapid liquid printing in APAC. China and Japan are expected to be major markets for rapid liquid printing in APAC. Japan is home to major automobile manufacturers and suppliers who are facing challenges of high labor costs and increased lead time taken by conventional production processes. As such, companies are adopting automated and advanced production technologies to overcome these challenges. The use of additive manufacturing technologies in these countries is expected to fuel the growth of the market for rapid liquid printing in APAC.
Key Market Players
Steelcase (US), Stratasys (US), 3D Systems (US), Materilise (Belgium), ExOne (US), EOS (Germany), Dassault Systemes (France), Autodesk (US), Native Canada Footwear (Canada), and BMW (Germany) are among a few major players operating in the rapid liquid printing market.
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About the AuthorTom C
Joined: July 2nd, 2020
Articles Posted: 347
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