Forward AM, the BASF 3D Printing Solutions GmbH, based in Heidelberg, Germany, is reporting an overall revenue growth of 39% in H1 2023 compared to the corresponding period of FY 2022. The company, which includes both an AM services and an AM materials business, is also highlighting that the latter has registered organic growth of 51% compared to H1 2022.
As a fully owned subsidiary of BASF, the company is not obligated to release revenue information and does not provide further details. A press release from early May reported that growth stood at 43% in Q1 2023 so the Q2 results are in line with the previous quarter’s. The press release does go on to highlight that its strategy is to maintain a strategic focus on industry collaboration to create increased value for customers resulting in several prominent projects.
The only way forward is together, and no one can win alone. Additive Manufacturing is just a technology. But the value for customers is created when we align applications, materials and processes into a reliable, scalable solution.Martin Back, CEO, BASF AM Forward
One is to create a new cross-technology approach for our customers that provides value through high-quality materials, applications and processes. BASF Forward AM is also partnering to develop scalable solutions for unmet market needs with both speed and global presence.
Overall the company offers 800+ machine/material combinations making Forward AM the leading global independent full-portfolio provider of materials and solutions. As an independent material supplier, BASF Forward AM can drive AM solutions across all platforms and technologies.
When asked about these strategic initiatives, Martin Back, CEO and Managing Director said, “The only way forward is together, and no one can win alone. Additive Manufacturing is just a technology. But the value for customers is created when we align applications, materials and processes into a reliable, scalable solution. Think of a three-legged stool. If you take away one leg, the stool falls over. To create a stable solution, we need collaboration where partners align collectively behind the goal to provide the best solution and thus iteratively adapt until a stable and scalable solution is created.”
Forward AM also maintains a strong focus on ecological sustainability as part of its business. The company has set itself up for long-term success as it develops and expands on processes that ensure that profitability and sustainability go hand-in-hand. The underlying idea is that when you improve upon a process, not only do you achieve energy and cost optimization, but it also has positive long-term effects for sustainability because energy costs money.
By focusing on optimizing the production of materials while keeping both profitability and sustainability in mind, it becomes possible to identify the most successful solution within the scope of where these two ideas overlap.
Now Forward AM says that it is ramping up its efforts for 2023 H2, continuing to drive the adoption of AM throughout a variety of industries. “We have the team and tools in place to scale up our operations and I’m looking forward to the second half of the year,” Back said. “We’re going to continue working in tight collaboration with our partners and on delivering innovative solutions that create value for the market and prove that AM is the solution the manufacturing sector has been looking for.”