Freemelt enters into agreement with leading Chinese industrial company
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Industri |
| Industri | Industriprodukter |
Freemelt has entered into an agreement with the listed Chinese industrial company Jiuli. Under the agreement, Jiuli will represent Freemelt as a sales agent in China, Taiwan, and Hong Kong, marking a strategic milestone in Freemelt’s global expansion. This collaboration establishes Freemelt’s presence in a rapidly growing market with increasing demand for advanced metal components, particularly in the MedTech and energy sectors.
Expanding into the rapidly growing Chinese market is a strategic expansion and the next step in Freemelt’s ambition to become a leading supplier in additive manufacturing (AM) based on Electron Beam Powder Bed Fusion (E-PBF) technology. Freemelt has an established position in Europe and North America, with significant progress in collaboration with both academic and industrial customers, focusing on the transition of AM from research to industrial applications and serial production.
The Chinese market for metal additive manufacturing is developing rapidly and is projected to grow at a CAGR (Compound Annual Growth Rate) of 21% between 2023 and 20301. Driven by increased investments in research and development, China has already entered industrial serial production across several sectors, including energy and MedTech. In 2023, China accounted for 11.9%1 of the global market for metal AM and is expected to become the world’s largest single market.
Like trends seen globally, the MedTech sector in China is at the forefront of AM adoption, particularly through serial production of implants. Notable advancements have also been made in the energy sector, including fusion energy. China has launched an ambitious strategy for the development of fusion energy, a segment where Freemelt has a strategic position in Europe.
Jiuli is a listed industrial company with a strong international network and extensive experience representing a number of leading global companies in the Chinese market. Through this collaboration, Freemelt gains access to local presence, technical expertise, and established business relationships, which are critical factors for a successful market entry.
“To become a global leader in additive manufacturing, it is essential for us to expand into the Chinese market. We have great confidence in Jiuli and look forward to a long-term partnership,” says Daniel Gidlund, CEO of Freemelt AB.
“Providing high-performance material for the global industry is the mission of Jiuli High-Tech Metals. We believe that additive manufacturing is one of the strategic directions of Jiuli in the next decade, in order to provide better service to our customers. Freemelt is a leading supplier in additive manufacturing based on E-PBF technology. We expect to have a win-win result through combining the strength of both Jiuli’s industrial customer base and Freemelt’s technology,” says Denny Lee, President of Jiuli.
1. ORIZON Grand View Research
https://www.grandviewresearch.com/horizon/outlook/3d-printing-metal-market/china