The rapid liquid printing market is set to expand at a promising growth rate of 36.28% to reach US$607.119 million by 2026 from US$69.542 million in 2019.
Rapid liquid printing can be defined as the next-generation 3D printing technology. It was developed by the Self-Assembly Lab from the Massachusetts Institute of Technology (MIT) in collaboration with Steelcase, a company known for furniture and interior design. Rapid liquid printing makes use of a viscous gel, this gel, when kept in a tank or vat, allows us to draw shapes that are then chemically cured into the solid product we desire. This final product can then be removed from the vat easily. This process enables the building up of a material to be much quicker than any other method. Rapid liquid printing is considered to be the breakthrough that 3D printing needed to be adopted on a mass scale. Though 3D printing provided benefits like customization, personalisation and accessibility, it had a major disadvantage of being slow as compared to other traditional processes like casting, injection moulding, milling, etc. Also, 3D printing was found to be working well for manufacturing or producing only small components or small size products and not products that were large in size. While 3D printing depends on a layer-by-layer extrusion method, rapid liquid printing takes a different turn by using a viscous gel. This gel doesn’t require structural support and can be used to produce shapes and moulds with the help of a precision robot that dispenses the gel in the required shape. This technology can be used in a wide number of industries because of its ability to produce custom made products that are lighter in weight and easily replaceable as compared to other materials used for the same purposes like metals etc. The automotive industry will be the most benefited industry from using rapid liquid printing technology as all major components of cars and other vehicles can be printed using this technology. Also, the components will be lighter in weight and easily replaceable than components made with metals like aluminium etc.
While rapid liquid printing offers significant advantages over 3D printing and can be used for a variety of purposes, it requires high capital investment. Since it is an upcoming technology; the hardware such as printers, materials such as foam etc. as well as the design software may be expensive for general use which acts as a restrain to the growth of the rapid liquid printing market.
The global rapid liquid printing market can be segmented on the basis of Offering, Application, Industry and Geography.
With an increase in demand for custom made products, a lot of companies have started manufacturing goods on the basis of the need and preferences of the consumers. Thus, rapid liquid technology can be used to produce custom goods that are not “one size fits all” goods, rather are according to specific needs of the consumer and fulfil their individual pain points.
The demand for electric vehicles will drive the growth of the rapid liquid printing market as electric vehicles require lightweight automobile components which can be made possible through the use of this technology. 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.
The investment required for using rapid liquid printing to produce or manufacture products is huge. To begin printing, there is a requirement of a printer, material and design software, all of which can be expensive to purchase and maintain therefore acting as a restrain to the growth of the market.
Impact of COVID – 19
Due to the economic downturn caused by the COVID – 19 pandemic, the spending capacity of people was reduced which may have a negative effect on the growth of the rapid liquid printing market. Also due to reduced industrial production, companies reduced their spending on non-essential emerging technologies.
Prominent/major key market players in the global rapid liquid printing market include 3D Systems, Inc., Autodesk, Inc., BMW AG, Dassault Systèmes, and EOS among others. The players in the global rapid liquid printing market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the global rapid liquid printing market.