Nanyang Technological University (NTU) in Singapore introduced its new S$30 million 3D printing research center on Monday.

3D printing is becoming one of the top technologies being used to help business and the global economy grow. Officials at the facility are working to bolster this burgeoning sector, and plan to focus on areas such as medical devices and tissue printing, according to TODAYonline. 

In addition to the 3D printing center, the university announced a S$5 million joint laboratory agreement with SLM Solutions, a manufacturer of 3D printers.

"In future, knee and bone implants customized to fit individual patients could be easily made using 3D printers," NTU said.  

Bertil Andersson, President of NTU, said the center will have the latest 3D printing machines. This technology includes machines with lasers that are used for printing metal parts, as well as bio-printers used to print actual human tissues, Channel News Asia reported.

The facility is being supported by the Singapore Economic Development Board. Andersson said the center will work with industry partners to not only create innovative solutions, but to also bring together the best talents in the field of 3D printing.

The center, known as the NTU Additive Manufacturing Center, was officially opened by Lee Yi Shyan, Senior Minister of State in the Trade and Industry and National Development ministry, TODAYonline reported.

NTU said it will use its partnership with SLM Solutions to help develop next-generation 3D printing machines capable of producing larger parts made of new kinds of materials that current devices can't deliver.

Prof. Chua Chee Kai, director of the center and one of the world's leading academic experts on 3D printing, said NTU is looking to show the true potential of the technology and how it can be used for real products, 3DPrint.com reported.

"As more low-cost printers come onto the market, 3D printing is now more accessible to the public and this enables people to see their ideas and design become reality, something they can see with their eyes and hold with their hands," Chee Kai said. "This is what true engineering is about - creative and practical innovations that will benefit society."