Additive Manufacturing to Generate USD 100 Billion Economic Value in ASEAN by 2025
thyssenkrupp presented a white paper on additive manufacturing potential in the ASEAN region, a comprehensive research undertaken by the company as a prelude to the official launch of its AM TechCenter Hub in Singapore. Titled “Additive Manufacturing: Adding Up Growth Opportunities for ASEAN”, the white paper provides deep insights and perspectives on the state of additive manufacturing in the ten member countries of ASEAN. The paper was developed by thyssenkrupp with the support and contribution of a multidisciplinary team of experts and partners in Singapore including the global industrial 3D printing leader EOS GmbH and the National Additive Manufacturing Innovation Cluster. The research shared exciting prospects for additive manufacturing in the ASEAN region, where current penetration is still relatively low despite wider acceptance globally.
The extensive study noted several key highlights:
AM penetration in ASEAN today is small, accounting for only 5 to 7% of Asia’s total AM spend estimated at USD 3.8 billion for 2019. However, there is huge potential for the ASEAN market given its contribution to the global manufacturing output. Manufacturing accounts for 20% of the region’s GDP, employs nearly 50 million workforce and is expected to grow at least three times in the near future.
Additive manufacturing is estimated to generate around USD 100 billion of incremental value by 2025, impacting ASEAN’s projected real GDP by 1.5 to 2%
Opportunities via additive manufacturing will enable the reduction of ASEAN’s import dependence with the potential to impact at least $30 to 50 billion by localizing manufacturing closer to consumption and reducing overall import dependence byup to 2% for the region
It can also contribute in sustainable development and improve ASEAN’s competitiveness in already established global value chains across key sectors such as Automotive, Electronics, and Chemicals, as well as accelerate the region’s growth in industries like Aerospace, Medical Devices, and Healthcare.
Additive manufacturing would enable the ASEAN region to further advance its Industry 4.0 and skills development focus, and promote local entrepreneurship with the potential to create 3 to 4 million additional AM jobs for the region by 2030.
The white paper comes at the heels of the establishment of thyssenkrupp’s Additive Manufacturing TechCenter Hub in Singapore. The TechCenter Hub, supported by the Singapore Economic Development Board (EDB), serves as the regional hub for the company’s existing TechCenter in Mülheim an der Ruhr in Germany. The Singapore Hub, along with the Mülheim TechCenter, will focus on innovations around additive manufacturing solutions in metal and plastic technologies for customers in marine and offshore, automotive, cement, chemical, mining and other heavy industries.
The presentation of the research was held at the official launch of the Singapore AM TechCenter Hub, which was attended by top executives from thyssenkrupp AG, representatives from the Singapore Economic Development Board, and key business partners and customers of thyssenkrupp in Asia Pacific. The launch was formally marked with a signing ceremony presided by Dr Donatus Kaufmann, Executive Board Member of thyssenkrupp AG, and Mr Lim Kok Kiang, Assistant Managing Director, EDB.
Source : Strategic Research Institute