How 3D printing has grown over the past 5 years

What started off as a mere idea in the 1980s has now evolved into a multi-million dollar industry. Particularly, over the last 5 years, 3D printing has gained popularity as the technology becomes more accessible, both commercially and financially. What was once an expensive, rare peice of tech, is now readily available at a much lesser price. 3D printers are not only being used in billion-dollar industries but have also made their way into homes for small scale passion projects.

3D Printing up till 2020

Owing to its great implications, people started leveraging 3D printing in a variety of ways. Currently, it is being used in a number of industries, covering several niches. From repairing intricate machine parts to countering inventory shortages, 3D printing is becoming a crucial, yet cost-friendly, part of several workflows. In fact, according to a 2017 analysis by A.T Kearney, the industry was expected to grow to a whopping $17.2 billion value from 2017 to 2020.

3D Printing from 2020 onwards

The industry saw another boost in 2020 after the COVID pandemic hit. Particularly, the medical industry made the most use of the technology. 3D printed masks, repirators, valves and ventilators were sold everywhere due to their increased demand. Currently, majority of the medical supplies are being manufctures using 3D printing as well.

Apart from the medical world, the technology has effectively made its way into construction as well. It is being used for building walls, bridges and even houses! What used to take years to build, now only takes weeks thanks to the advancements in the 3D printing industry. SpaceX has also invested in metal 3D printers for building rockets and space shuttles. The techniques have been tested extensively by NASA and have proven to be durable and faultless.

Future of 3D Printing

3D printing is revolutionizing the manufacturing industry. Offering a seamless and cost effective way of building equipment, it provides a great alternative to traditional techniques that may take years to complete. The industry is expected to follow an increasing growth trajectory in the coming decade as well. According to Statista, the global market for 3D services and products will reach $40 billion by 2024. Therefore, it is evident that 3D printing is the industry of the future. As more and more companies invest in it, the technology is set to reap great benefits for the future transformation.