The global 4D printing market is projected to witness a CAGR of 40.30% during the forecast period to reach a total market size of US$152.782 million by 2022, increasing from US$28.103 million in 2017. 4D printing is an extension of 3D printing technology which allows the customers and end users enhanced efficiency, quality, and performance capabilities over existing manufacturing techniques.
The demand for 4D printing is projected to grow on account of providing extensive choice of product design, better utilization of resources, and making manufacturing processes simpler. However, high initial investment requirement and potential safety hazards are likely to restrict the growth of 4D printing market.
INCREASED PRODUCT DESIGN FREEDOM
4D printing has the ability to offer the state of design freedom. It goes one step beyond the design of static objects by adding dynamics and performance capabilities into the material itself. Further, 4D printing will allow parts to adapt their geometry and structure, on-demand, as forces and requirements change, further increasing material efficiency. Moreover, with 4D printing, the manufacturing processes become even simpler than 3D printing. Extremely simple structures can be printed and then activated by external stimulus to change into complex functional structures and systems.
HIGH INITIAL COST
The major challenge for 4D printing technology is the high initial cost as only few companies are currently involved in its research and development Moreover, the development of this technology requires extremely skilled labor, apart from the sophisticated materials. The most common materials used in 4D printing are shape-memory polymers, which normally require going through five steps to make them into adaptable objects. Apart from this, hydrogels are also used however, they cannot be utilized for rigid structures. The cost of these materials is high and as such high initial investment is required for the development of 4d printing technology.
GLOBAL 4D PRINTING MARKET BY INDUSTRY
On the basis of industry, Global 4D printing market is segmented into automotive, aerospace and defense, infrastructure, textile, healthcare, energy and power, and others. 4D printing is a highly evolving technology and is expected to be increasingly adopted in aerospace and defense, automotive, and healthcare sectors in the years ahead. The aerospace and defense segment is expected to dominate the market share by the end of forecasted period. The benefits offered by this technology like the ability to self-repair is leading to higher research funding in order to further explore its potential and widen its application areas. Growing defense budget owing to increasing conflicts and growing terrorist activities across the globe contribute to the segment growth. Healthcare segment is also expecting a high growth over the forecasted period. High healthcare expenditure as well as growing number of patients will propel the segment growth.we have included all segment like market size , share , forecast in market research and analysis report.
Although, the current market share for healthcare segment is low as the 4D printing technology is still in its research phase, it is expecting a considerable growth during the forecast period. Over the years, healthcare expenditure has grown exponentially leading to high investments in R&D and thereby contributing to the segment growth. According to World Bank data, healthcare expenditure as a percent of GDP has growing from 9% to 9.9% between 2000 and 2014. In addition, the growing prevalence of diseases and rapidly aging population propel the demand for continuous technological advancements in healthcare sector which, in turn, will augment the 4D printing market growth.
4D printing can be very beneficial in healthcare sector, especially in the area of nano technology and artificial organs. In addition to this, 4D has a great impact on manifolds usage and gas alarms in hospitals. Other applications include self-assembling human-scale biomaterial, tissue engineering, nano-robot for chemotherapy, and design of nano particles. The expanding application of 4D printing in healthcare is leading to positive funding environment while propelling the segment growth. However, regulation frameworks have been developed in various countries in order to provide oversight over medical devices and its effect on the patient to ensure their safety.
REQUEST FREE SAMPLE OR DOWNLOAD REPORT
FOR SEMICONDUCTOR INDUSTRY COVERAGE