Technological Advancements And Increasing Demand In Various Industry Verticals Are Primarily Fueling The 4D Printing Market Growth
According to a new market research report published by Brisk Insights “Global 4D printing Market (Material (Programmable Carbon Fiber, Programmable Wood, Programmable Textiles), End User (Defense, Aerospace, Automotive, Textile, Healthcare)) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027”, the overall 4D printing market worldwide is set to grow with a CAGR of more than 33% during the forecast period from 2019 to 2027, starting from US$ 55.5 Mn in 2018.
The global 4D printing market is highly driven by increasing demand for advanced technologies that help in providing quality product at a lower cost. As 4D printing is advancement to 3D printing, its adoption is extensively growing in various industry verticals. 4D printing technology helps in producing structures that can transform themselves in a pre-programmed way when the component is exposed to appropriate stimuli. This feature of 4D printing provides additional design flexibility that can contribute for development of new types of products. Furthermore, technological advancements in 4D printing industry are also facilitating designing and development of innovative products that can be used in medical and defense sector. Thus growing demand for advanced products in defense sector and medical sector are largely driving the demand for 4D printing technology. Moreover, large number of research activities are being conducted to improvise this technology and make it more efficient and effective for its application every industry sector. These factors are expected to drive the growth of 4D printing market during the forecast period.
Though 4D printing is an advanced technology, its development, adoption and installation costs are really high. Additionally, there is lack of awareness amongst people on developing and underdeveloped countries. These factors can have a negative impact on the adoption of this technology and thus, restrain the growth of this market.
Based on end user, the military and defense sector is expected to witness highest growth during the forecast period. Owing to the developments in the military and defense sector, there is growing demand for easily manufactured and light weight equipment and weapons. This factor is primarily attributed to the growth of 4D printing market in military and defense sector. Based on the geography, North America dominates the 4D printing market by holding largest market share of the total revenue generated worldwide. Factors such as increasing developments in the manufacturing sector, changing dynamics of medical and defense sector and growing adoption of alternative production techniques are primarily attributed to the high market share of North American 4D printing technology market. Moreover, increasingly government and private investments in research & development and growing focus on developing good quality 4D material is also expected to drive the growth of this regional segment. Moreover, various companies operating in this market are based in the US, which gives them an upper hand over other international players. However, Asia-Pacific is expected to witness a rapid growth in the global 4D printing market. Factors such as, continuous technological advancements, developments in the military and defense sector, the increasing focus on development of light weight and easy to carry products are expected to fuel the 4D printing market growth in Asia Pacific. Moreover, based on these factors, large number of players are expanding their presence in this region to leverage the opportunities offered by emerging nations in in Asia-Pacific. However, the high cost associated with initial investment, and lack of awareness amongst people in emerging countries is expected to hinder the market growth in Asia-Pacific during the forecast period.
Some of the major companies profiled in the report include Massachusetts Institute of Technology, Autodesk Inc., ARC Centre of Excellence for Electromaterials Science, 3D Systems Corporation, Hewlett Packard Corporation, Materialise NV, Exone Corporation, Stratasys Ltd, Organovo Holdings Inc., among others.
Browse the full report at https://www.briskinsights.com/report/4d-printing-market
The Global 4D printing Market is Segmented into:
By Material Segment (2017–2027; US$ Mn)
By End User Segment (2017–2027; US$ Mn)
By Geography Segment (2017–2027; US$ Mn)
*Complete segmentation list is on report page