The Role of 3D Printing in Business Innovation in North America

According to the newest exclusive study from Smithers, 3D printing is becoming more popular because of new technologies, changing value chains, and market innovations.

The new Smithers study The Future of Global 3D Printing to 2027 says that this market will grow very quickly over the next ten years

From $5.8 billion in 2016 to $55.8 billion in 2027, it will grow at a fast rate of 23.0% per year. Three-dimensional printing is becoming more mature as a business trend. It has become an important tool for creation and prototyping, as well as for making complicated molds and tools.

A lot of 3D printers were shipped and installed in 2016 to hobbyists and home users, compared to only 63,000 printers used in industrial or commercial settings. This shows that the market is still very successful with these groups. But the value of the industrial and commercial sectors as a whole is much higher ($5.4 billion vs. $0.4 billion in 2016). This is because industrial and commercial 3D print gear is much more expensive, raw materials are more expensive, and more money is spent on services.

Changes in printer and material processes

The most popular raw materials for 3D printing are thermoplastic polymers, which are:

Acrylic butadiene styrene (ABS), polylactic acid (PLA), and polyethylene terephthalate glycol-modified (PETG) materials are used.

The global chemistry and plastics industry makes a lot of these materials, so they are easy to find, not too expensive, and simple to work with in fused filament fabrication (FFF) 3D printers.

Aluminum and bronze powders, some types of maraging steel and stainless steels, a few aluminum alloys, cobalt-chromium compounds, and a few titanium alloys are the easiest metals to get right now. Private companies and independent study groups are putting a lot of money and time into research and development to make it possible to print on more metals.

In the next few years, the rate at which new 3D printing materials are made will speed up by a huge amount. All of the raw materials used in 3D printing will be the same quality and better. In general, these materials will be easier to get and cheaper. They will also be easier to use because the way they are made and processed has been improved.

Creating a value chain

As 3D printing technology improves and the market becomes more complex, value chains are changing to meet the needs of markets that are growing quickly and changing in many ways. At the moment, most industrial and commercial 3D printing installations work as separate units that are not closely connected to the rest of the manufacturing setting and process. For many businesses, 3D printing is still just a lab experiment. It hasn't reached its full potential yet, which could change how products are designed and made, and eventually how value chains and the market are set up.

Companies like Airbus, Lockheed Martin, and Boeing have a lot of experience using 3D printing in their design and production processes. These companies are now working on integrated manufacturing systems that use 3D printing in the factory environment and processes without any problems.

The industry will probably come up with good ways to deal with possible changes in the way businesses work. Over time, these changes may mean less business for traditional second-tier part suppliers and logistics firms. However, they will create huge new possibilities, especially for contract manufacturing firms.

Innovations Used By Many

North America and Western Europe will continue to be the leaders in the worldwide 3D printing market. An increasing number of 3D printers will be made in Asia. These will mostly be low-cost machines with limited features that are popular with hobbyists, do-it-yourselfers, schools, and businesses.

During the time of the forecast, there will likely be a lot of new 3D printing technologies and equipment, as well as new raw materials and end uses. When 3D printing techniques are widely used, they will drastically change value chains and the ties between suppliers and customers.

A lot of these new ideas will help any new technology adapt to the forces that push it to evolve

These forces include faster production, more reliable and efficient processes, lower prices for machines and systems, and better quality and consistency in products.

Smithers' exclusive study shows that the business world can expect:

3D printer and process innovations should focus more on making current processes better over time and less on completely new technologies.

More metals and plastics that are useful for business will be made available in shapes that can be used in 3D printers.

Industrial and commercial companies will see 3D printing more and more as a set of tools and production methods that can be used for business purposes.

These changes in the scope and direction of 3D printing innovation will open up a lot of doors for the industry when it comes to new 3D printing materials and processes, applications, and end user development. They will also open up new value chains and business relationships across the 3D printing industry.