Press release
The 3D printing market in the APAC region has been observed to be at the growth stage registering an approximate CAGR of 15% in 2019-What will ensure further growth of the industry in future?: Ken Research
1. Lucrative opportunities present in Asia Pacific 3D market- a significant insight for new entrants.
The government of different countries has shelved out different initiatives and is investing huge in order to adopt the 3D printing technology in the country. The onset of 4th Industrial revolution focuses on the digitization of manufacturing process. The healthcare sector is highly using 3D printing in order to reduce costs, improve quality and increase the patient focus. Bio-implant is an emerging technology of healthcare wherein artificial manufacturing of body part is possible. Currently, the application of 3D printing is mostly for prototyping and tooling purposes, however with the adoption of technology the application for mass production will derive the future growth.
2. APAC 3d printing market trend- Singapore's and Taiwan's efforts to grow 3d printing.
The Ministry of Industry and Information Technology in China released a plan to develop China's 3D printing industry in 2015 and 2016. The mission of the National 3D Printing Industry Development Promotion Plan (2015-2016), establishes goals for innovation and commercialization of 3D printing. Chinese government is putting key focus on the adoption of 3D printing.
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The Singapore Economic Development Board invested USD 18 million in partnership with the National University of Singapore and NAMIC (the National Additive Manufacturing Innovation Cluster) to open another center for additive manufacturing to apply 3D-printing technology in the biomedical and healthcare fields.
The South Korean government has invested around USD 37 million to accelerate the development of 3D printing across the country. Japan has invested USD 22 million through its New Energy and Industrial Technology Development Organization (NEDO) to spur the growth of highly advanced 3D printing mechanisms for human tissue regeneration.
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3. Potential Business Model that can be deployed by players in APAC 3D Market.
This model is based on an online system where the orders are received online and the finished products are shipped to the customers. In this context, the process allows the upload of a digital CAD design and selecting the most wanted manufacturing operation. Online services in 3D printing certainly offer value added options to the community of users. The users can foresee the cost of the production, delivery time and in some cases select the manufacturing location near demand.
Opportunities in 3D printing industry in other countries:
https://www.kenresearch.com/manufacturing-and-construction/industrial-engineering/apac-3d-printing-market-outlook/318830-97.html
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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services
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