The global rapid liquid printing market size is expected to grow from USD 48 million by 2023 to USD 284 million by 2027; it is projected to grow at a CAGR of 55.6% from 2023 to 2027. The key factors driving the growth of the rapid liquid printing market include fastest among all 3D printing technologies, ability to print using industrial grade materials, and ease of development of customized products. However, high initial and maintenance cost, and lack of standardization processes, material, and software are the factors restraining the growth of the rapid liquid printing market.
The market for services offerings is expected to grow at the highest CAGR
during the forecast period. The high growth market rate can be attribute 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.
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The rapid liquid printing market for functional part/end-use
manufacturing is expected to grow at the highest CAGR during the forecast
period. The market for rapid liquid printing is expected to witness a rapid
growth rate. Rapid liquid printing is expected to be adopted for commercial
production of end parts. A rapid liquid printer is 300 times faster than any
other 3D printer. It also has the advantages of additive manufacturing over
traditional manufacturing, which makes it a profitable and efficient option. The
capability of rapid liquid printers to print using industrial-grade materials
is expected to drive its potential growth in the adoption of this technology
for the production of end parts.
The consumer products vertical expected to account for the largest
share of the overall rapid liquid printing market by 2027.The growth of this
segment is driven by the demand for furniture and home décor items. The rapid
liquid printing technology is currently in its R&D phase; the patent for
this technology is pending with the US government. Based on the current
investments by various companies and collaborations of research institutes, the
technology is not expected to commercialize across verticals all at once. The
3D printing market for the consumer products vertical has been growing with the
rise in the adoption of desktop or personal printers. The introduction of
low-cost desktop 3D printers, costing below USD 1,000, has driven the adoption
of 3D printers. Many start-up companies have entered the 3D printing industry
with services such as designing, prototyping, or manufacturing of customized
functional products. Rapid liquid printers, once commercialized, are expected
to have a high growth rate in this vertical. Owing to high-speed printing and
no design barrier of structural stability, rapid liquid printers are to witness
high demand.
The rapid liquid printing market is expected to register the highest
CAGR in APAC. 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. The current
pandemic of COVID-19 has severely affected almost every industry in the APAC
region. China, Japan, and India are the most affected countries in this region.
Disrupted supply chain, reduced demand from local and global markets, and
increased concerns regarding healthcare are a few of the challenges faced by
countries in the APAC region. In a positive scenario, it is expected that the
market would return to its normal state by 2022. Thus, the market for rapid
liquid printing is expected to commercialize and grow at a high rate from 2023
to 2027.
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