Strategic Analysis of the Additive Manufacturing Market in Australia
Strategic Analysis of the Additive Manufacturing Market in Australia : High Growth Potential for Additive Manufacturing as a Service
LONDON, June 7, 2016 /PRNewswire/ -- This study looks at the nascent yet fast-developing additive manufacturing market in Australia. Sketching an overview, it looks at the overall size and growth rates of the market and discusses key drivers and restraints. The study provides insights into technology trends both globally and domestically, throws light on market innovations, highlights the mainstream applications across a range of industries, and predicts potential uses for the technology. It also analyses the competitive structure of the market, covering comparisons with traditional manufacturing, and discusses the overall trends and development plans that are shaping the market.
Key Findings
- ln the context of the long-term decline in Australia's manufacturing competitiveness, additive manufacturing (AM) is being viewed as a key enabler of revival.
- The AM market in Australia is growing at a moderate pace, with metal AM likely to see increased traction.
- Driven by an increase in the level of AM awareness, the market has seen a series of new entrants in the recent past. This trend is stimulated by a number of high-profile workshops, seminars, and events promoting AM in Australia.
While AM is moving beyond prototyping ( % of the total number of applications) to facilitate manufacturing short-run high-end products, the immediate market opportunity is for AM as a service. AM technology adoption in short-run production services has been growing steadily—from less than % of the total market in early 2010 to almost % in mid 2015.
- The AM market is expected to see strong growth in biomedical, aerospace, and mining industries, due to new establishments in metal facilities and strong research initiatives in titanium. These industries are expected to account for nearly % of the total AM market.
- Service bureaus offer part-building services to organisations that are reluctant to invest in a new technology or cannot justify the purchase of a system. However, in-house AM systems are slowly growing among medium-sized enterprises.
- Australia is witnessing the emergence of hybrid manufacturing technology (HMT), which is the combination of complementary technologies including computer numerical control (CNC) milling, AM, and in-process part inspection.
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