Manufacturing Industry Expects A Billion Dollar Bump from Next Generation Industrial 3D Printing
COLLEGE STATION, Texas — (BUSINESS WIRE) — March 19, 2019 — Essentium, Inc., a leading provider of 3D printing technology and materials for additive manufacturing, today released the findings of its independent survey, 3D Printing At Scale, conducted by Dimensional Research. The survey reveals that confidence in, and deployment of industrial scale 3D printing is at a tipping point amongst 3D production manufacturing stakeholders and decision makers. Over half of the respondents report to be preparing for full-scale 3D printing production runs, 21% now use 3D printing for full scale production part runs, and 88% believe the economic advantage to manufacturing industries from production scale 3D printing will be in the billions of dollars.
As well reducing manufacturing costs, the transformational impact on manufacturing from industrial scale 3D printing is expected to be far reaching according to the survey findings. Forty-three percent of respondents believe it will make the mass customization of products possible, 39% expect to gain competitive advantage from a dramatic acceleration in the cycle of design to proof of concept to mass production, and 38% expect to bring the manufacturing supply chain closer to the customer as outsourcing production of parts to other geographies for economic purposes becomes redundant.
While the vast majority of survey respondents were bullish on the future impact of industrial scale 3D printing in manufacturing, they also cited a number of barriers that need to be resolved in order for its potential to be unleashed and realized. Cost, scale, part strength and skills were identified as major obstacles. Forty-two percent of respondents stated current 3D printing technologies are too expensive, 35% stated that the cost of materials is too expensive, 31% stated that printed parts are not reliable, and 30% reported a lack of expertise.
Recent advances in industrial 3D printing, such as the release of the Essentium High Speed Extrusion (HSE) Platform which resolves speed and scale obstacles, are clearing the way for a rapid shift to full scale production runs using 3D printing in manufacturing.
In fact, the move toward industrial scale 3D printing in manufacturing is already starting to gain traction. While traditional simple prototyping is currently the most common use case of 3D printing in manufacturing with 61% of survey respondents reporting to use the technology in this way, 60% are using the technology to produce manufacturing aids and tooling jigs, close to half, 45%, are using it for limited run production parts, while 21% are already using the technology for full-scale production part runs.
Said Essentium CEO, Blake Teipel, “The potential of 3D printing in the $12 trillion market that makes up industrial manufacturing – including materials, design cycles, production, manufacturing, supply chain and innovation - is starting to be unlocked and will soon transform the way things are produced and the supply chains involved. The results of our survey validate this. It is also hugely encouraging to see how positively our market views the potential of industrial 3D printing and appears to be readying to embrace it.”
Go here for more survey findings: http://bit.ly/2TKT6U7
About Essentium
Essentium, Inc. provides industrial 3D printing solutions that are disrupting traditional manufacturing processes by bringing product strength and production speed together, at scale, with a no-compromise engineering material set. Essentium manufactures and delivers innovative industrial 3D printers and materials enabling the world’s top manufacturers to bridge the gap between 3D printing and machining and embrace the future of additive manufacturing.
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