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.
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Key Trends and Analysis of the Global 4D Printing Market:
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