Finland Additive Manufacturing (AM) Market is expected to reach USD 450.89 million by 2030
The innovation in 3D Printing, and advancement in R&D initiatives in additive layer manufacturing in Finland are driving up demand for the additive manufacturing (AM) market during the forecast period.
Finland Additive Manufacturing (AM) Market is valued at USD 93.94 million in 2022 and is expected to reach USD 450.89 million by 2030, with a CAGR of 21.6% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
The growing innovation in the field of 3D printing by key market players to increase the acceptance rate of additive manufacturing across various industries drives the growth of the market. For instance, in October 2020, the premier innovation platform for the Finnish manufacturing sector, DIMECC Ltd., introduced an industrial ecosystem that will expand the use of 3D printing and unite Finnish industry participants. The FAME ecosystem (Finnish Additive Manufacturing Ecosystem) will establish an open 3D printing experimental center at the Smart Technology Hub in Vaasa, modular 3D printing training from the engineering level to the doctoral level in Lappeenranta, and advance Finland to the top nations in the world for 3D printing utilization, and sales.
The increasing R&D in the region through the institution of additive layer manufacturing boosts the growth of the 3D printing market. for instance, in April 2022, the Finish Institute launched a project to establish a comprehensive and open database of metals used in additive manufacturing for the Finnish industry, which in turn drives the growth of the market. In addition, the increasing business expansion, innovation, and R&D by prominent players of additive manufacturing in the region drive the growth of the market.
However, the cost of additive manufacturing technologies, including printers, materials, and post-processing equipment are 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 Finland additive manufacturing market include such as FAME, Etteplan, Titamic, Nanofabrica, 3D Systems, Stratasys, BCN3D, Concre3DLab, Interspectral, and 3DGBIRE
Key Insights from the Additive manufacturing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the Finland 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 Finland additive manufacturing market is provided in the report along with their competitive analysis.