Middle East Additive Manufacturing (AM) Market is expected to reach USD 1.06 billion by 2030
The rise of 3D printing manufacturing units and start-ups in Middle East are driving up demand for the additive manufacturing (AM) market during the forecast period.
Middle East Additive Manufacturing (AM) Market is valued at USD 0.20 billion in 2022 and is expected to reach USD 1.06 billion by 2030, with a CAGR of 22.9% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
The establishment of multiple manufacturing units specializing in 3D printing, accompanied by the rise of start-ups leveraging 3D printing technology, is anticipated to drive the growth of the industrial manufacturing sector in the Middle East region. For instance, in August 2021, Pantheon Development, a Dubai-based real estate developer announced that it is planning to weigh up an entire eleven-storey building with 3D printing. The company further plans to drive Dubai’s wider goal of 3D printing 25% of its buildings by 2030, and also initiate the construction of the first skyscraper of its kind in the world.
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 Middle East additive manufacturing market include SLM Solutions, EOS, Renishaw, GE Additive, Hoganas, DMG MORI, Mitsubishi Heavy Industries, Titomic, SPEE3D, and 3D Hubs.
Key Insights from the Middle East Additive Manufacturing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the Middle East 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 Middle East additive manufacturing market is provided in the report along with their competitive analysis.