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Report: 3D printing revenue will exceed 100 billion US dollars by 2032

2023-12-06 15:09

Report: 3D printing revenue will exceed 100 billion US dollars by 2032, with gradual progress in Asia and radical progress in Europe and America!

According to a report released by market research firm SmarTech Analysis earlier this year, the global additive manufacturing market size in 2022 was $13.5 billion (Wohlers Report 2023 reported $18 billion). This institution has been renamed Additive Manufacturing Research and continues to release multiple types of reports in the industry. According to its latest market research, the 3D printing technology reference notes that the additive manufacturing market size will reach 18.8 billion US dollars in 2023 and is expected to reach 119 billion US dollars by 2032.

Differences in development concepts between Asia and Europe and America

On a global scale, Europe, America, and Asia have vastly different ideologies in the adoption of 3D printing technology. European and American observers believe that although Asia has some of the world's largest manufacturing centers, the adoption of additive manufacturing technology still lags behind its Western counterparts. This difference is not caused by a lack of innovation or technological capabilities. On the contrary, it stems from fundamental differences in market dynamics and industrial concepts.

The difference in adoption rates of additive manufacturing between Asia and the West can be attributed to the difference in the number of early adopters and different industrial values. Important industry sectors in Europe and America may be eager to try and implement new solutions to achieve complete change, while early adopters in Asia have significantly smaller and more conservative sectors.

In Europe and North America, early adopters played an important role in showcasing the disruptive potential of additive manufacturing. For example, companies such as GE Aviation and SpaceX have utilized additive manufacturing technology to produce complex aerospace components, demonstrating the innovative and enhanced manufacturing capabilities of this technology. These successes have helped establish people's confidence in additive manufacturing and promoted further adoption.

Located at the Goofoo Additive Technology Center factory

However, the strategy of using additive manufacturing in the Asian industry has been carefully considered and integrated only when there are clear and tangible benefits compared to traditional methods. These thoughtful measures, especially in industries that rely on mass production and lean manufacturing processes, are often observed. Before adopting new technologies, Asia (such as domestically) needs reliable proof of concept and clear investment return rates. These industries measure the progress of incremental improvement, rather than revolutionary leaps.

There is a risk aversion factor at play here, which is not a lack of courage, but a precise assessment of value and return. This trend does not mean that Asia neglects innovation - the region's rapid progress in semiconductor manufacturing and digital technology proves its forward-looking thinking attitude. However, when it comes to additive manufacturing, people are unwilling to completely change validated methods without evidence that new methods can outperform old ones.

Asia sees 3D printing as a complementary technology

In order to fully tap into the enormous potential of the Asian additive manufacturing market, 3D printing must evolve from being primarily seen as a research and development innovation tool to a validated "production technology". This transformation is crucial for wider adoption in regions where high productivity and repeatability demands drive manufacturing.

In Asia, mass production and efficiency are the benchmarks for manufacturing success, and additive manufacturing will gain wider acceptance when it aligns with its production goals and has significant advantages in cost, speed, and quality.

Exhibition from Goofoo in 2023

Global 3D printing solution providers also have a responsibility to adjust their methods to adapt to the Asian market. Instead of attempting to replicate positive driving forces, adopting a strategy that emphasizes integration and improvement of current manufacturing processes may be more advantageous. Companies such as EOS and Stratasys have made progress not only by selling machines, but also by providing consulting services that integrate additive manufacturing into traditional workflows.

This approach involves breaking away from the disruptive labels typically associated with additive manufacturing and repositioning it as a complementary technology to enhance traditional manufacturing. This is to build confidence through successful case studies in the region and showcase the value of additive manufacturing in a way that resonates with the spirit of Asian manufacturing.

Asia tends towards gradual growth

Additive manufacturing has enormous potential in Asia, but its adoption can only accelerate when the technology aligns with the operational philosophy of Asian manufacturers. This is a thoughtful concept, not a hesitant drag; It's not a question of "what if", but a question of "when" and "how".

Asian economic powers - China, Japan, South Korea, etc. - are not only manufacturing centers, but also complex markets. They treat new technologies such as additive manufacturing with respect and skepticism. They asked, "How will this technology enhance our strengths and alleviate our weaknesses?" Considering the deep investment of these countries in their current manufacturing infrastructure, this is a wise question.

To truly establish a foothold in Asia, additive manufacturing requires not only technological miracles; It must be a business solution. Therefore, the growth of additive manufacturing in Asia depends on the intersection of technological readiness and business integration. The Western additive manufacturing model is characterized by a pioneering spirit and adventurous mentality, aiming to achieve disruptive victories, but this model is unlikely to be replicated in Asia. On the contrary, we will see a different adoption cycle - this cycle may be slower, but more cautious and in-depth in terms of integration.

Asian manufacturers already believe that additive manufacturing has advantages and are waiting for assurance in terms of stability, reliability, and long-term value. The coming years are crucial because advocates of additive manufacturing must not only demonstrate their capabilities, but also demonstrate what they can sustainably provide in factory workshops.

The development path of additive manufacturing in Asia will be unique and may redefine the global development of this technology. Manufacturers in the region may not only become users of additive manufacturing, but also innovators and innovators of additive manufacturing, optimizing it to meet the specific and demanding demands of their market. This will not be a silent revolution, but a resounding evolution that echoes the vast industrial landscape of Asia.