Industry: Construction & Manufacturing | Publish Date: 16-Nov-2024 | No of Pages: 138 | No. of Tables: 102 | No. of Figures: 67 | Format: PDF | Report Code : CM668
Singapore Additive Manufacturing Market size was valued at USD 25.7 million in 2023, and is predicted to reach USD 114.7 million by 2030, at a CAGR of 22.3% from 2024 to 2030. In terms of volume, the market size was 1 thousand units in 2023, and is projected to reach 6 thousand units by 2030, with a CAGR of 25.3% from 2024 to 2030.
The additive manufacturing (AM) market, known as additive layer manufacturing (ALM) or three-dimensional (3D) printing, is a global industry focused on developing, producing, and distributing technologies and materials for constructing three-dimensional objects layer by layer from digital models. Serving diverse sectors including aerospace, automotive, healthcare, and consumer goods, this market offers advanced solutions for prototyping, production, and customized manufacturing.
AM is highly valued for its capability to produce intricate and customized components while minimizing material waste, leading to significant cost savings and environmental benefits. A notable characteristic of this market is its variety of printing technologies, such as stereolithography (SLA), selective laser sintering (SLS), and fused deposition modeling (FDM), each tailored to meet specific industry requirements and applications. Additionally, AM's ability for rapid prototyping accelerates product development cycles, empowering businesses to innovate and bring products to market faster than traditional manufacturing methods allow.
The rising use of 3D printed components in the aerospace industry in Singapore is accelerating market growth by enabling more efficient and cost-effective manufacturing processes. This technology allows for the creation of complex, lightweight structures that are impractical with traditional manufacturing methods, thereby reducing material waste and production time. In January 2023, Singapore launched its first 3D printed component into space as part of the Zeus-1 satellite used in SpaceX's Falcon 9 rocket.
Led by Qosmosys with contributions from NuSpace and Creatz3D Singapore, the project utilized additive manufacturing for its cost and time efficiency. Such advancements benefit the aerospace industry through enhanced design flexibility, improved performance, and quicker prototyping capabilities provided by 3D printing, fueling demand in the market.
The growing healthcare expenditure is accelerating the Singapore additive manufacturing market demand for advanced, customized medical solutions such as 3D printing, aiming to improve patient outcomes and reduce costs. Additive manufacturing (AM), or 3D printing, enables the production of personalized medical devices, implants, and prosthetics tailored to individual patient anatomy, enhancing treatment effectiveness. This technology also facilitates rapid prototyping and the creation of complex structures, including biocompatible implants and tissue scaffolds crucial for medical research and development.
According to the latest report from the International Trade Administration (ITA), Singapore's National Health Expenditure allocated a USD 5.6 billion budget in healthcare, expected to rise to USD 59 billion by 2030. As Singapore's healthcare systems invest more in innovative technologies to meet the rising demand for quality care, the adoption of AM in the medical sector continues to expand, driving market growth.
The significant initial investment needed for AM equipment, materials, and training poses a major barrier to Singapore additive manufacturing market trends. This financial commitment presents a significant challenge for businesses, especially smaller ones, restricting their ability to enter or scale operations in the market. Moreover, continuous expenses associated with materials and training add to the overall financial burden. As a result, many businesses are cautious about adopting AM technology due to these initial financial hurdles, thereby limiting prospects of the Singapore additive manufacturing market growth.
Incorporating artificial intelligence (AI) into additive manufacturing (AM) is expected to broaden the 3D printing market by improving production processes, advancing product design capabilities, and facilitating the creation of intricate and customized objects. AI integration allows businesses to analyze large datasets collected during printing, including material properties, printing parameters, and environmental conditions. This analysis assists in identifying patterns, optimizing settings, and predicting potential defects, thereby enhancing printing precision and minimizing material waste.
The prominent key players operating in Singapore additive manufacturing industry include Hamilton Labs, PrintmyCAD, Namic, Zelta 3d, 3D Metal Forge, Desktop Metal Inc., Structo, Phasio, Supercraft3d, LionsForge, and others.
Desktop 3D Printer
Industrial 3D Printer
Stereolithography
Fused Deposition Modeling
Selective Laser Sintering
Direct Metal Laser Sintering
Polyjet Printing
Inkjet Printing
Electron Beam Melting
Laser Metal Deposition
Digital Light Processing
Laminated Object Manufacturing
Other Technology
Hardware
Software
Design Software
Inspection Software
Printer Software
Scanning Software
Services
Prototyping
Tooling
Functional Parts
Desktop Additive Manufacturing
Educational Purpose
Fashion & Jewellery
Objects
Dental
Food
Other Desktop Additive Manufacturing
Industrial Additive Manufacturing
Automotive
Aerospace & Defense
Healthcare
Consumer Electronics
Power & Energy
Other Industrial Additive Manufacturing
Hamilton Labs
PrintmyCAD
Namic
Zelta 3d
3D Metal Forge
Desktop Metal Inc.
Structo
Phasio
Supercraft3d
LionsForge
Parameters |
Details |
Market Size Value in 2023 |
USD 25.7 million |
Revenue Forecast in 2030 |
USD 114.7 million |
Growth Rate |
CAGR 22.3% from 2024 to 2030 |
Market Volume in 2023 |
1 thousand units |
Market Forecast in 2030 |
6 thousand units |
Volume Growth Rate |
CAGR of 25.3% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Million (USD) |
Growth Factors |
|
Companies Profiled |
10 |
Market Share |
Available for 10 companies |
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |