Global: German conglomerate thyssenkrupp plans to open an Additive Manufacturing TechCenter Hub in Singapore this year. The facility, supported by the Singapore Economic Development Board (EDB), aims to bring additive manufacturing, as well as thyssenkrupp’s engineering capabilities to new customers in the Asia Pacific region. Establishing a hub in Singapore now reflects its commitment to bring transformative innovations closer to the Asia Pacific region to meet the customer’s needs. Thyssenkrupp’s TechCenter Hub in Singapore, together with the existing TechCenter in Germany, will focus on innovations around additive manufacturing solutions in metal and plastic technologies for customers in automotive, capital goods, chemical, mining, and other heavy industries. It will provide a complete range of additive manufacturing services from part identification diagnostics, project delivery to training and capability building. The TechCenter Hub will also host additive manufacturing engineers who will work together with the colleagues in Germany to develop various products and solutions which leverage this innovation.
According to BlueWeave Consulting, the rising demand for prototyping from healthcare, automotive, and aerospace & defense among other industry verticals are expected to drive the market growth. 3D Printing is also known as additive manufacturing which is a process of making three dimensional solid objects from a digital file. The major factor driving the market growth is the growing use of 3D printing in rapid prototyping or real-time prototyping which benefits the whole design and production process, ultimately leading to reduced lead time and speed to market. With technological advancements and product innovations, use of 3D printing technology has got various applications in a wide variety of areas, such as jet engines, advanced prosthetics, and even living tissue will aid to the growth of 3D Printing market. Ease of development of customized products, reduction in overall manufacturing costs, and government investments supports will spur 3D Printing Market.
“Global 3D Printing Market, by Technology (Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), and Stereolithography (SLA), Electron Beam Melting (EBM), Digital Light Processing (DLP)), by Solutions (Hardware, Software, Services), by Applications (Automotive, Healthcare, Industrial, Consumer Electronics, Aerospace & Defense, and Others), by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Size and Forecast, 2018-2025,” The global 3D Printing Market is estimated to grow at a significant rate, during the forecast period 2018-2025. 3D printing is any processes in which material is joined or solidified with the help of computer technology to create a three-dimensional object. 3D printing enables you to produce complex (functional) shapes using less material than traditional manufacturing methods. In the current scenario, 3D printing has been used in manufacturing and medical industry which facilitates 3D printing to become successful commercial technology. Applications of 3D printing in direct digital manufacturing (DDM), advancements in printing techniques, increasing use of 3D printing in rapid prototyping and the growing availability of improved printing materials are expected to spur the demand of 3D printing during the forecast period.