Africa Additive Manufacturing (AM) Market is expected to reach USD 649.79 million by 2030
The rise of localized manufacturing & sustainable manufacturing in Africa are driving up demand for the Additive Manufacturing (AM) market during the forecast period.
Africa Additive Manufacturing (AM) Market is valued at USD 120.55 million in 2022 and is expected to reach USD 649.79 million by 2030, with a CAGR of 23.4% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
Additive manufacturing presents an opportunity to establish localized manufacturing capabilities in Africa by enabling on-demand production of objects in close proximity to their consumption point. This technology reduces the reliance on extensive supply chains and lowers transportation costs. This localized manufacturing approach holds particular advantages for remote or underserved regions in Africa, fostering economic development and generating employment opportunities.
Also, Sustainability is becoming an increasingly prominent Africa concern, and this holds true for Africa as well. In line with sustainable manufacturing practices, additive manufacturing offers advantages by minimizing material waste, energy consumption, and carbon emissions when compared to traditional manufacturing methods. The environmentally friendly characteristics of additive manufacturing make it an appealing choice for businesses and governments in Africa that are actively seeking sustainable solutions. As a result, significant market growth is expected in this region.
However, the cost of additive manufacturing technologies, including printers, materials, and post-processing equipment is relatively high compared to traditional manufacturing methods. This cost factor may limit the accessibility and adoption of additive manufacturing, particularly for small and medium-sized businesses, which is expected to restrain the growth of the market.
On the other hand, continuous advancements in additive manufacturing technologies, including improved printer capabilities, enhanced materials, and more efficient post-processing techniques, have fueled the growth of the market. These advancements enable higher quality, faster production, and expanded application possibilities, attracting more industries to adopt additive manufacturing. Thus, it is expected to create ample opportunities for the market.
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According to the report, leading players in the Africa additive manufacturing market include Solid Concept, 3D Africa, 3D Hubs, Fab@Home, AddUp, 3D Print Africa, Rapidshape, Makerspace, Makers Garage, and Arcam AB.
Key Insights from the Africa Additive manufacturing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the Africa additive manufacturing market is provided in the report.
The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.
The market share of players in the Africa additive manufacturing market is provided in the report along with their competitive analysis.