Buffeted by historically high inflation, the war in Ukraine, and political uncertainty around the globe, the business climate in 2023 will continue to be challenging. The macroeconomic outlook has also taken a toll on the additive manufacturing (AM) industry, with adoption not living up to expectations. This is reflected in the slumping stock prices of publicly traded 3D-printing companies.
AM has yet to have its breakout year, despite the reoccurring prediction of one by industry leaders like myself. This is disappointing given the tremendous promise of 3D-printing technology and its ability to provide manufacturers with a competitive advantage.
Regardless, the future remains bright. Here are three trends that promise to elevate the industry to new highs in the coming year.
1) Solving Supply Chain Constraints: Many companies turned to the 3D printing of production parts to keep their supply chains flowing during the COVID-19 crisis. Some 71% of manufacturing companies attempted to use 3D printing to address recent supply chain issues, according to a Dimensional Research study.
While 3D printing hasn’t solved the world’s supply chain struggles, I’m confident it eventually will. As I see it, the manufacturing industry has an illness, and additive is an amazing, experimental drug that can help cure it. The problem is that there is still a general lack of awareness and education about 3D printing and how it can help manufacturers overcome their biggest challenges. In 2023, 3D printing will prove it is ready for mainstream acceptance by helping manufacturers lower production costs and strengthen their businesses.
2) Entering—and Altering—the Consumer Market: AM has already made tremendous strides in its ability to 3D print service parts, manufacturing aids, and tooling jigs. Aircrafts that often require specific, custom-made tools, such as polymeric panel scrapers that won’t damage metal aircraft components, can now have those tools printed on demand.
But one area that still needs to catch up is the consumer goods market. This market was beginning to embrace 3D printing prior to the pandemic. For example, my company Essentium Inc., was working with a name brand shoemaker to introduce a new line of 3D-printed sneakers until COVID brought the project to a screeching halt.
The good news is that, in 2023, AM will regain traction in various consumer goods applications. It’s not just 3D-printed footwear that will blaze new trails in style, comfort, and eco-friendly materials. AM will breathe fresh air into various day-to-day products—everything from baby monitors to mascara brushes—and make it possible for consumer companies to innovate in their manufacturing footprint like never before.
3) Advantage AM: The story of 2023 will be about gaining a competitive advantage by controlling costs and remaining resilient, which AM will play a key role in achieving. In the Dimensional study, 100% of respondents said they had benefited financially from 3D printing, 35% reported lower manufacturing costs, and 19% boasted of increased revenue.
A decade ago, AM wasn’t a realistic option for manufacturers because it couldn’t be scaled sufficiently to meet their demands. Now it can, and, as a result, additive is a viable option for many manufacturers that use it to make parts and products rapidly—at low cost and at scale. As more manufacturers discover the advantages of additive, they will embrace the technology and achieve a competitive edge. I believe that nearly every factory will need a 3D printer on site this year. Those that don’t won’t be able to compete and successfully weather the economic downturn.
In 2023, 3D printing will bring significant change to the manufacturing industry. It will solve problems and bring many benefits, saving money and time in production environments, addressing supply chain issues, enabling rapid testing of new ideas, and providing a competitive advantage to manufacturers who use it well. 3D printing has long had the potential to alter the product landscape, transform industries, and usher in a better tomorrow. This year will mark another milestone on the journey to making that potential a reality.
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