As 3D printers have become more affordable and 3D printing is increasingly used for more than just prototypes and parts, the industry has the potential to disrupt traditional manufacturing significantly, according to a new report from Lux Research.
Data from the new “Will 3D Printing Replace Conventional Manufacturing?” The report expects the total 3D printing market to reach $ 51 billion in 2030, mainly due to the growth in production parts. The report also highlights the size and growth of the 3D printing market by application and material.
Anthony Schiavo, Research Director at Lux Research and lead author of the report, gave further insights into the potential of 3D printing to change the current manufacturing landscape in a press release.
“3D printing will be a key in the future manufacturing landscape as it offers advantages over injection molding, machining, casting, or other traditional methods. These advantages include customization and personalization, the ability to create complex geometries, and part consolidation in some.” Cases cut costs. “
3D printed parts
The Lux Research report also found that the value of 3D printed parts would increase over the next decade at a compound annual growth rate (CAGR) of $ 15 billion from $ 12 billion in 2020 to $ 51 billion in 2030 will rise.
According to Schiavo, most of this growth will be in end-use parts, which now account for 23 percent of the market but will reach 38 percent in 2030. Industries that will make up the largest proportion of these end-use parts include the medical and dental industries, which will reach $ 4.5 billion in 2030, followed by the aerospace industry with $ 3.9 billion.
At the same time, strategies will change as 3D printing matures for manufacturing. Vertical integration is vital today, but horizontal specialists may be more profitable in the future. However, the relative immaturity of 3D printing as a manufacturing technology means that well-integrated ecosystems will be a prerequisite for competitiveness.
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