A majority of world leaders in the area of advanced technologies are making a foray into the manufacturing industry, mainly attributing to the rise of industry 4.0. Adoption of robotics technologies is on the rise across multiple end-use industries, and rapid liquid printing technology is leading the pack.
The global market for rapid liquid printing technology is witnessing exponential growth due to the important role that it plays in the production of various customized products. Adoption of 3D printing technologies in printing industrial-grade materials is also among the most important factors that are contributing to the impressive growth of the rapid liquid printing market.
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Rapidly Flourishing Automotive Sector is Expected to Trigger Market Growth
Automotive industry is reviving after the global downfall in business caused due to the lethal outbreak of novel coronavirus. Increased automotive sales have triggered operations in the industry, and a mounting number of manufacturers are moving towards adoption of next-generation manufacturing technologies to mitigate production costs and bolster the agility of business.
Automotive manufacturers are increasing focus on introducing innovative designs and this is triggering the demand for 3D printing technology. Furthermore, manufacturing of electronic and autonomous vehicles is also boosting the production of innovative automotive components. This is one of the major factors that are triggering the unprecedented growth of the rapid liquid printing market.
High Capital Investments and Maintenance Costs may Hinder Widespread Adoption
While the adoption is on the rise, rapid liquid printing technology is characterised with the need for significantly high initial investments. This is one of the factors that are restricting the adoption of rapid liquid printing in a wide range of customers. Furthermore, high maintenance and servicing costs also add to the financial burden on end users, and this is the reason why its use is limited to a certain range of high-end customer companies. This, in turn, hinders the growth of the global market for rapid liquid printing.
Manufacturers Add 3D Printing and Other Manufacturing Services to Offerings
The rapid liquid printing market is witnessing astonishing growth attributing to the bolstering demand in a vast range of applications. In addition to the strategy of catering to multiple end users, leading manufacturers in the rapid liquid printing market are also entering a new area of business by offering 3D printing services to cater to the increasing demand for design and manufacturing.
Manufacturers are focusing on offering rapid liquid printing technology that supports manufacturing of products with competitive pricing and highly complex geometries. Furthermore, a mounting number end users are moving towards outsourcing various tasks right from design to production of such products. This is expected to trigger leading players in the rapid liquid printing market to introduce unique services in the coming years.
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APAC Advancing towards Additive Manufacturing Technologies Creates New Opportunities
Rapid liquid printing market is expected to witness impressive growth in developing countries, mainly in Asia Pacific. APAC is emerging as the most lucrative markets for rapid liquid printing with the rising adoption of 3D printing technologies in a wide range of end-use industries such as healthcare, utility, aerospace & defense, and automotive.
Leading players in the region are capitalizing on the recent developments in the automotive and consumer goods industries in Japan, India, and China to consolidate their position in the APAC market for rapid liquid printing. With a mounting number of end users moving to next-gen additive manufacturing technologies, the adoption of rapid liquid printing is expected to remain significantly high in the region.
Competitive Landscape: Manufacturers Expand Presence across Industries
Key players in the rapid liquid printing market include 3D Systems, Autodesk, Inc., Steelcase Inc., Dassault Systèmes SE, EBS, EOS, Bayerische Motoren Werke AG, Exone, Linkin Factory Co., Ltd., Materialise NV, Native Canada Footwear Ltd., Ricoh, and Stratasys, Ltd. A mounting number of market players are entering different areas of rapid liquid printing such as jet printing, SLS, and film transfer imaging, while a major focus on offering related services.
Market leaders are also investing heavily in diversifying their product range in order to expand their presence in multiple end-use industries including healthcare, automotive, defense, and manufacturing. This is expected to trigger merger & acquisition activities among competitors in the rapid liquid printing market.
Based on product type, the rapid liquid printing market can be segmented as:
- Desktop Printers
- Industrial Printers
Based on end use industry, the rapid liquid printing market can be segmented as:
- Consumer Products
- Aerospace & Defense
Based on the application, the rapid liquid printing market can be segmented as:
- Functional Manufacturing
- End Use Part Manufacturing
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