Mexico Additive Manufacturing (AM) Market is expected to reach USD 1.90 billion by 2030
The growing adoption of additive manufacturing technologies in the construction industry and the adoption of 3D Printing in the healthcare industry are driving up demand for the Mexico additive manufacturing (AM) market during the forecast period.
Mexico Additive Manufacturing (AM) Market is valued at USD 0.40 billion in 2022 and is expected to reach USD 1.90 billion by 2030, with a CAGR of 21.6% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
The market growth is driven by the growing adoption of 3D printing in the automotive and aerospace sectors in Mexico, specifically for prototype and new product development. Additionally, the market is propelled by the increasing utilization of additive manufacturing technologies in the construction industry for building and housing projects, benefiting from technological advancements and a high level of disposable income.
For instance, in February 2020, the world’s first 3D-printed neighborhood was constructed in southern Mexico. The project was created in partnership with icon and échale, and have successfully printed its first few houses using a giant 33-foot-long 3D printer.
The additive manufacturing market experiences significant growth due to the increasing adoption of 3D printing in the healthcare industry. Specifically, the use of this method to create prostheses, implants, and accurate prototypes of medical devices contributes to this growth. The ability to customize these medical solutions ensures better fitting and enhanced functionality, ultimately leading to improved quality of life for patients. Additionally, 3D printing allows for the production of complex geometries and intricate structures that were previously difficult or unachievable using traditional manufacturing methods.
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 Mexico additive manufacturing market include such as CEMEX, EOS, SLM Solutions, 3D Systems, Stratasys, GE Additive, Renishaw, DMG MORI, HEXAGON, MX3D, and Advanced Manufacturing Technologies.
Key Insights from the Mexico Additive manufacturing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the Mexico 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 Mexico additive manufacturing market is provided in the report along with their competitive analysis.