thyssenkrupp predicts $100 billion economic value for AM in ASEAN by 2030

News
August 5, 2019

August 5, 2019

thyssenkrupp AG, Essen, Germany, has published a white paper on the potential of Additive Manufacturing in the Association of Southeast Asian Nations (ASEAN) region, based on research undertaken by the company, with the support of partners in Singapore, 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 looks at the state of AM in the ten member countries of ASEAN. 

AM penetration in ASEAN is currently quite small, accounting for only 5–7% of Asia’s total AM spend (estimated at $3.8 billion for 2019. However, thyssenkrupp’s report states that 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 of its workforce and is expected to experience major growth in the near future.

The report predicted that Additive Manufacturing will generate around US $100 billion of incremental value by 2025, impacting ASEAN’s projected real GDP by 1.5 to 2%. Opportunities presented by AM are expected to enable a reduction of ASEAN’s import dependence, with the potential to impact at least $30–50 billion by localising manufacturing closer to consumption and reducing overall import dependence by up to 2% for the region

AM 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. It is believed that 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 3–4 million additional AM jobs for the region by 2030.

“As our study shows, Additive Manufacturing delivers enormous potential to transform the ASEAN region and level up vital sectors,” stated Jan Lueder, CEO of thyssenkrupp Regional Headquarters Asia-Pacific. “Additive Manufacturing will surely be an innovative solution to further drive growth in ASEAN, as long as stakeholders work together to continue building awareness as well as a supportive ecosystem for Additive Manufacturing adoption and development. We have found such an ecosystem in Singapore, and that is one of the key reasons in establishing our first Additive Manufacturing TechCenter Hub outside of Germany.”

www.thyssenkrupp.com

News
August 5, 2019

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