Post Covid-19:RISING DEMAND FOR INDUSTRY 4.0 AND EMERGENCE OF INDUSTRY 5.0 IS EXPECTED TO BOOST THE GROWTH OF THE GLOBAL 4D PRINTING MARKET DURING THE FORECAST PERIOD
Global 4D Printing Market: Key Highlights
- The global 4D Printing Market is estimated to reach USD 510.25 Million by 2027 at a CAGR of 42.7% during the review period
- The global 4D Printing Market is segmented by into programmable material and end-user.
- Based on basis of type, the market is bifurcated into programmable carbon fiber, programmable wood, programmable textiles and programmable bio material. The Programmable carbon fiber is projected to witness healthy growth. These helps to reduce the failure prone mechanisms as well as reduce the overall weight which will lead to fuel the growth of the market in the forecast period in the forecast period.
- On the bases of region, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America accounted for the major market share with growing investment in the R&D as well as the scientists is also being focused on the growth of the 4D materials which has the to adapt to various environmental conditions
- Top players that account for the major share include 3D Systems, Inc., Autodesk Inc., CT CoreTechnologie Group, EnvisionTEC, ExOne, HP Development Company, L.P (Hewlett Packard Enterprise Development LP), Massachusetts Institute of Technology, Materialise nv, Organovo Holdings Inc., Stratasys Ltd., and among others.
Global 4D Printing Market: Key Market Dynamics
- There has been rising demand for industry 4.0 and emergence of industry 5.0 will play a significant role for the 4D printing market. The additive manufacturing, also called 3D-printing, which is a part of Industry 4.0.
- The growing need to reduce manufacturing and processing cost will lead to enhance the demand of the 4D Printing Market growth.
- Further, adoption in military & defense and healthcare sector is create a significant opportunity for the market.
- However, high cost of development is hindering the growth of the market.
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Global 4D Printing Market: Regional Overview
- North America:
- North America region is further divided in to the US, Canada and Mexico. Globally, North America accounted for the major market share.
- North America accounted for the major market share with growing investment in the R&D as well as the scientists is also being focused on the growth of the 4D materials which has to adapt to various environmental conditions.
- As per the Organization for Economic Co-operation and Development (OECD), the healthcare expenditure of the United States is more than any other country. However, the 4D scanners is excepted to use in healthcare for the growth of the 4D models for human body parts, which can then be used for producing prosthetics.
- On December 2018, the US based Autodesk has introduced ADAPT which is an additive manufacturing consortium which helps to recognize the visionary research, scalable education platforms, academic-industry ecosystem and actionable strategic insights, as the basis of its platform.
- Asia-Pacific region is segmented into five major countries including China, Japan, India, Australia, and South Korea.
- Asia-Pacific is projected grow at the fastest growth rate with the growing advancement in the technology as well as with the focused on the growth of new products is projected to boost the demand of the market in the forecast period.
- The countries in the region such as China, Japan and South Korea are the leading market user of the 3D printing technology, which is also excepted to boost the growth of the market.
- For example, the rising construction as well as the manufacturing industries in the region have been major driving the demand for the 4D printing market.
Global 4D Printing Market: Key Players
Some of the key players operating in the market include 3D Systems, Inc., Autodesk Inc., CT CoreTechnologie Group, EnvisionTEC, ExOne, HP Development Company, L.P, Massachusetts Institute of Technology, Materialise nv, Organovo Holdings Inc., Stratasys Ltd., and among others.
Global 4D Printing Market: Key Developments
- On July 2019 — Verily is partnered with procter & gamble (P&G) to sell Smart Diapers, which will help to enable monitoring of the sleeping patterns of any baby as well as to track their pee.
- On April 2019–3D printing startup, Fast Radius raised USD 48 million to scale its printing capabilities and application engineering.
- On September 2018-the Poietis had announced that they had entered into a partnership with Servier for the development of liver tissues with the help of Poietis’ 4D bioprinting technology.
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