CHICAGO -- The head of 3D printing company Stratasys Ltd. today expressed optimism about his industry’s long-term prospects.
Following the COVID-19 pandemic and the emergence of supply chain issues, “It’s a different world,” said Yoav Zeif, CEO of Stratasys.
“Manufacturers need to evolve and change the way they’re doing things,” he said at a panel discussion at IMTS sponsored by Stratasys.
“You need some kind of insurance,” the executive added. With 3D printing, “You eliminate the need to transport goods from one place to another.”
Also, he said additive manufacturing enables weight reduction and the use “of more complex geometries.”
Additive manufacturing is expanding the number of materials that can be printed, including polymers and metals. The industry so far, however, is not profitable.
Zeif said trends are still in the industry’s favor. For example, he said, manufacturers are “going digital.”
With 3D printing, products are printed based on digital designs. “That’s another sweet spot of additive manufacturing. It’s not if but when.”
Stratasys says it has expanded its approach from just concentrating on producing printers to forming partnerships to expand available materials. It has a new unit that is working to do more business with aerospace, automotive, and other manufacturers.
At the panel discussion, Chris Connery, vice president of global analysis and research for Context, said 3D printing is recovering the COVID-19 pandemic.
The research firm estimates that about 12,500 printers priced $20,000 and above will be sold this year. That would represent a 44 percent increase from 2020 when COVID hit the hardest and a 14 percent from pre-COVID levels.
Connery said a variety of technologies will be deployed by the additive industry.
“There’s no silver bullet technology,” he said.
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