Singapore Additive Manufacturing (AM) Market is expected to reach USD 201.56 million by 2030
The focus on sustainability and circular economy in Singapore is driving up demand for the Additive Manufacturing (AM) market during the forecast period.
Singapore Additive Manufacturing (AM) Market is valued at USD 30.82 million in 2022 and is expected to reach USD 201.56 million by 2030, with a CAGR of 26.4% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
Singapore has been an ardent supporter of sustainability and a circular economy. Additive manufacturing contributes to these objectives by allowing resource-efficient production, decreasing waste, and promoting localized manufacturing. In Singapore, the emphasis on sustainability and circular economy concepts has spurred the development of additive manufacturing as a sustainable manufacturing solution.
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 Singapore additive manufacturing market include Drone Volt, NTUitive, PowderAlloy, SLM Solutions, EOS, Reap3D, XYZprinting, 3D Hubs, Stryker, and ST Engineering.
Key Insights from the Singapore Additive manufacturing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the Singapore 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 Singapore additive manufacturing market is provided in the report along with their competitive analysis.