In H1 2023, BASF Forward AM achieved a remarkable growth of 39%, surpassing the prevailing trends in the 3D printing industry.

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Embracing Collaboration and Drive for Innovation: BASF Forward AM’s Impressive Mid-Year Growth

BASF Forward AM, operating under the umbrella of BASF 3D Printing Solutions, has recently unveiled impressive growth numbers for the first half of 2023. This German-based brand, situated in Heidelberg, reported a remarkable 39% growth rate during this period, with its material business experiencing a substantial 51% increase. These positive results have been achieved against the backdrop of favorable market trends within the rapidly growing 3D printing industry.

In line with the forecasts from Additive Manufacturing Research / SmarTech Analysis, BASF has determined that the 3D printing sector witnessed a noteworthy growth rate of 23% in 2022. Forward AM credits a significant portion of its success to its strategic emphasis on collaborating with industry partners. The company has been engaged in several impactful projects aimed at creating additional value for its customers. By teaming up with businesses such as IGO3D GmbH, Atome3D.com, Sicnova 3D, 3DGBIRE, and 3D Prima, Forward AM has been able to solidify its growth trajectory.

Having the right team and tools in place, Martin Back, the CEO and Managing Director of Forward AM, expresses his optimism for the second half of the year. The company is determined to work in tight collaboration with its partners to deliver innovative solutions that create value for the market. According to Back, AM, or Additive Manufacturing, is the long-awaited solution that the manufacturing sector has been seeking.

Forward AM’s approach centers on a cross-technology perspective, integrating high-quality materials, applications, and processes. Its ultimate goal is to provide scalable solutions that address unmet market needs, doing so rapidly and on a global scale. The company’s extensive portfolio of materials and solutions, boasting over 800 machine-material combinations, elevates its position as a global leader in this niche.

Forward AM’s commitment to ecological sustainability is another key differentiating factor. It firmly believes in adopting long-term strategies that strike a balance between profitability and environmental responsibility. By optimizing processes, the company achieves cost and energy savings while positively contributing to long-term sustainability. Additionally, Forward AM provides transparency along the value chain beyond the material production process and offers a sustainability service that calculates the environmental footprint of 3D printed parts made from its materials.

Back underscores the importance of collaboration, stating that true value for customers is created when applications, materials, and processes align to form a reliable and scalable solution. For Forward AM, collaboration is the key to stability and success. Just as a three-legged stool remains stable, the company acknowledges the significance of partners aligning collectively behind the common goal of providing the best solution and iteratively adapting until a stable and scalable solution is achieved.

As a subsidiary of BASF, Forward AM, which was established in 2017, is estimated to generate roughly $3.5 million in annual revenue, though this figure is not officially reported. During the first quarter of 2023, the business already boasted a 43% increase in sales revenue in Europe compared to the same period the previous year. This revenue growth serves as an encouraging sign for both Forward AM and the broader 3D printing industry.

With continuous advancements in 3D printing technologies and expanding applications across various sectors, companies like Forward AM are positioning themselves for long-term success. The future prospects of the 3D printing industry will be further explored at the forthcoming Additive Manufacturing Strategies (AMS) event in New York, scheduled for February 6-8, 2024. This event promises to be a game-changer, featuring an unprecedented roster of speakers. To stay informed on the latest news from the 3D printing industry and receive updates and offers from third-party vendors, make sure to keep an eye out for upcoming developments in this exciting field.

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