Shapeways expands its service offerings in the digital manufacturing sector with MFG Materials, a platform for procuring raw materials at discounted prices.
Through strategic partnerships, average discounts of 15% on list prices are offered.
This enhances Shapeways' position as a comprehensive partner in the manufacturing sector and provides manufacturers the opportunity to benefit from growth trends in the global raw materials market.
Shapeways Launches MFG Materials, Offering Discounted Raw Materials to Manufacturers.
Shapeways introduces MFG Materials, a new service providing manufacturers with discounted raw materials, strengthening its comprehensive role in the manufacturing sector; Image: New Atlas
Shapeways Holdings, Inc. (NASDAQ: SHPW), a global leader in the digital manufacturing industry, has announced the launch of MFG Materials, a new service that offers a range of raw materials to manufacturers at discounted rates. This move further solidifies Shapeways' position as a comprehensive partner within the manufacturing sector.
By establishing strategic partnerships and negotiations with top-tier raw materials vendors, Shapeways is offering an average discount of 15% off list prices on its MFG Materials platform. The extent of the discounts varies depending on the material type and quantity ordered.
Greg Rothman, General Manager of Software for Shapeways, emphasized the commitment to supporting manufacturers: "With the launch of MFG Materials, we're taking a practical step toward helping them save on raw material costs. Depending on the volume, suppliers can realize a sound return on investment by purchasing their raw material inventory through us."
The global industrial raw materials market is expansive and diverse, playing a crucial role as a significant contributor to both the US and global economies. Notably, the market for key industrial raw materials such as aluminum, iron/steel, and plastics is experiencing robust growth trends:
The aluminum market, valued at USD $169.8 billion in 2021, is projected by Precedence Research to reach USD $277.5 billion by 2030.
According to MarketsandMarkets, the iron and steel market, valued at nearly USD $1.6 trillion in 2022, is projected to reach USD $1.9 trillion by 2027.
The global plastics market, valued at USD $609 billion in 2022, is projected by Grand View Research to maintain a steady CAGR of 4.0% from 2023 to 2030, driven by increased plastic consumption across various sectors.
In light of these market dynamics, Rothman underscored the value proposition of the MFG Materials platform: "The growth trajectory of the industrial materials market is impressive. This presents immense opportunities, and MFG Materials is designed to help our customers tap into this opportunistic market. We are not only making these markets more accessible but also enabling significant cost savings through our economies of scale. This boosts competitiveness and profitability for manufacturers, fueling growth in the U.S. manufacturing sector."
MFG Materials is immediately available to all current premium subscribers. Alongside this launch, Shapeways is introducing a low-cost monthly membership option, catering to manufacturers seeking access solely to MFG Materials.
