3D printing or additive manufacturing is a process of making three dimensional solid objects from a digital file. 3D printing enables you to produce complex shapes using less material than traditional manufacturing methods.
How 3D Printing Works?
- When three-dimensional designs are created using specific software applications, like AutoCAD, digital data can be sent to a 3D printer
- The output is a three-dimensional object, which is printed in sequential layers using different materials
Applications for 3D Printing
- Process of 3D printing spans many industries, including automotive, manufacturing, aviation and medical
- Capabilities of 3D printers improve exponentially each year, a diverse range of materials can already be printed through these devices. These include urethane, metal, human tissue and even food products
- 3D Systems: Bespoke Products, a company that produces 3D printed prosthetics, is printing custom-made prosthetic parts to fit the individual needs of each user
- Spare parts suppliers are not meeting the needs of their customers; 50 percent of customers have looked into 3D printing their own parts
- 85 percent of spare parts suppliers will incorporate 3D printing into their business
Benefits and challenges of 3D printing
|Market size value in 2020||USD 13.63 billion|
|Revenue forecast in 2027||USD 35.38 billion|
|Growth Rate||CAGR of 14.6% from 2020 to 2027|
|Base year for estimation||2019|
|Historical data||2016 – 2018|
|Forecast period||2020 – 2027|
- Alloy Manufacturers and Suppliers: Companies in this category are experiencing growing demand for the high-quality metal powders and wire feedstock used in AM
- OEMs: These manufacturers already hold much of the core intellectual property in the field, and the share prices of established players reflect high growth expectations. But they face threats arising from further industry consolidation (following the recent GE acquisitions) and from new entrants
- Design and Engineering Software Providers: Companies in this category include those that make traditional computer-aided-design software, control software for AM systems, topology-optimizing algorithms, and other software that monitors quality or enhances design-and-build processes
- Service Providers: These job shops offer AM production services, sometimes at industrial scale. They also partner with OEMs and other end users that lack the expertise needed to ramp up AM production technology.
- OEM End Users of AM Parts: These players could reap the greatest potential benefits from new-product development in AM and lower manufacturing costs, so their role is to stay on the leading edge of the technology and push the boundaries of design in their products