The global 4D printing market was valued at US$ 82.6 Million in 2020 and is expected to surpass US$ 625.6 Million by 2028, registering a CAGR of 29.4% during the forecast period (2021-2028), according to the Global 4D Printing Market Report, by Material (Programmable Carbon Fiber, Programmable Wood, and Programmable Textiles), by End user (Military & Defense, BFSI, Aerospace, Logistics, Healthcare, Retail, Food & Beverage, Construction, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa), published by Coherent Market Insights.
The increasing demand for industry 4.0 and emergence of industry 5.0 in several industries is expected to drive the growth of global 4D printing market. There has been various funding activities which has increased the demand for 4D printing in the market. For instance, in January 2019, Essentium, a U.S. based company which offers solutions for additive manufacturing industries raised US$ 22 Million in order to bring its technology to manufacturing industries. Furthermore, industry 5.0 is also getting used to produce personalized products with lower cost, less material waste, less energy consumption which is fueling the market growth. The industry 5.0 technology has mainly focused on manufacturing process rather than only focusing on conventional design processes. For instance, increasing demand of industry 5.0 technology in aircraft industry is driving the growth of 4D printing technology in the market. With the help of industry 5.0 technology, the manufacturing process would be better automated as compared to the humans which only focus on the designing process of the aircrafts. Thus, in turn, increases the global 4D printing market growth in the future.
4D Printing Market - Impact of Coronavirus (Covid-19) Pandemic
Globally, most of the countries are affected by COVID-19 and most of the countries have announced lockdown. There is a significant impact of COVID-19 on the global 4D printing market as well. Due to COVID-19 pandemic, several industries witnessed significant shift in their business. Various manufacturing industries have suffered due to this pandemic. For instance, in India people are facing shortage of PPE kits, face shields, and other medical equipment’s. To meet this increased demand of PPE kits, several medical companies across India have started using 4D printers to manufacture PPE kits and other medical equipment’s, and this is leading to increase in demand of 4D printing technology in the medical industry.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/4d-printing-market-4598
Browse 90 market data tables* and 60 figures* on “Global 4D Printing Market- Global forecast to 2028”
Key Trends and Analysis of the Global 4D Printing Market:
- Among regions, North America held dominant position in the global 4D printing market in 2020 and is expected to retain its dominance throughout the forecast period. This is attributed the growing adoption of 4D technology in the U.S and Canada. Several companies in this region are also focusing on making investments in the 4D printing technology. For instance, National Aeronautics and Space Administration (NASA), developed intelligent metallic fabric by using 4D printing technology. This will be used as a shield for antennas and spacecraft for protection against the impact of meteorites.
- Asia Pacific is expected to show significant growth over the forecast period, owing to the advancement in the technologies, increasing investments by the government, and growing emphasis on the development of new products is driving the market growth. For instance, according to Coherent Market Insight analysis, the 4D printing market in Asia-Pacific is expected to grow at a CAGR of 23.6% during the forecast period (2021-2028). Furthermore, in January 2020, Researchers from Singapore University of Technology and Design (SUTD), announced collaboration with Nanyang Technological University (NTU) to revolutionize reversible 4D printing by making a 3D fabricated material change its shape and back again repeatedly without electrical components.
- Among material, the programmable carbon fiber segment is expected to account for a considerable share by 2028, owing to high steepness, low weight, and tensile strength, and thus evolving as a major smart material for automotive body panels and other industrial applications.
- Major players operating in the global 4D printing market include Stratasys Ltd., 3D Systems Inc., Autodesk, Inc., Hewlett Packard Corp., ExOne Corporation, Organovo Holdings, Inc., Materialise NV, Dassault Systèmes, ARC Centre of Excellence for Electromaterials Science (ACES), Heineken NV, Norsk Titanium US Inc., Aerojet Rocketdyne Holdings Inc., and Engineering & Manufacturing Services Inc.
