Page 8 - MetalForming February 2017

News Fronts
Market Outlook
Market for Rapid Prototyping Materials to Grow through 2021
Engineering Inc. into the Miller brand. This allows Miller to better serve customers with an expanded offering of weld- ing-automation solutions, according to Miller officials.
The worldwide rapid proto- typing materials market is expected to reach $903.8 mil- lion by 2021, at a compound- ed annual growth rate (CAGR) of 26.8 percent, according to a new report at Researchand- markets.com.
Founded in the 1950s, Jet- line developed automated- welding methods and machines for the aerospace industry and went on to pro- duce welding-automation sys- tems, including seam- and cir- cumferential-welding systems. The company was acquired by Illinois Tool Works (ITW) in 2000 and integrated into the ITW Welding Products Group, which also includes Miller and Hobart Filler Metals.
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Because rapid prototyping is used in the additive-manu- facturing (AM) process to cre- ate testing models, AM is help- ing to drive the growth of the rapid prototyping materials market during the forecast period. Worldwide, the manu- facturing and construction end-user segment of the mar- ket is expected to lead all seg- ments in growth.
Jetline will transition its branding by changing to a joint logo on all products, labels and marketing-commu- nication materials. Jetline cus- tomer support and service staff will remain in Irvine, CA.
According to the report, the rapid prototyping materials market in the Asia-Pacific region is expected to grow at the highest CAGR between 2016 and 2021. This growth is attributed mainly to the increasing demand of rapid prototyping materials across varied end-use industries, such as healthcare, consumer goods, and aerospace and defense. Moreover, low-cost and easy availability of raw materials is another signifi- cant factor propelling the growth of the market in this region.
Bunting Magnetics to Acquire UK-Based Master Magnets
Business Notes
Bunting Magnetics Co., Newton, KS, designer, manu- facturer and distributor of magnets and magnetic equip- ment, signed an agreement to acquire Master Magnets Ltd, a UK-based manufacturer of magnetic separation equip- ment. Based in Redditch, Unit- ed Kingdom, Master Magnets provides a complete line of magnetic separation, recycling and metal-detection equip- ment to several industries through a worldwide distribu- tion network.
Miller Adds Jetline Welding-Automation Products
The acquisition is expect- ed to build on and comple- ment Bunting Magnetics’ global foundation already in place through broadened customer reach, new manu- facturing capabilities and the opportunity to sell into new
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Miller Electric Mfg. Co., Appleton, WI, announced the integration of welding-automa- tion products from Jetline