Australia Additive Manufacturing (AM) Market is expected to reach USD 403.11 million by 2030
The increasing sustainability and waste reduction in Australia is driving up demand for the Additive Manufacturing (AM) market during the forecast period.
Australia Additive Manufacturing (AM) Market is valued at USD 75.15 million in 2022 and is expected to reach USD 403.11 million by 2030, with a CAGR of 23.3% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
The additive manufacturing market is experiencing growth in Australia, driven by the country's focus on sustainability and waste reduction initiatives. Additive manufacturing, as a manufacturing method, stands out for its ability to produce less waste compared to traditional manufacturing methods. By utilizing the necessary materials to build an object, additive manufacturing minimizes material waste and reduces environmental impact. This alignment with Australia's sustainability goals and waste reduction efforts has played a pivotal role in driving the expansion of the additive manufacturing market in the country.
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 Australia additive manufacturing market include Fleet Space, Titomic, SPEE3D, Aurora Labs, Objective3D, Inventia Life Science, Conflux Technology, 3D MEDiTech, Additive Assurance, and Monocure3D.
Key Insights from the Australia Additive manufacturing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the Australia 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 Australia additive manufacturing market is provided in the report along with their competitive analysis.