Essentium's Research Highlights 3D Printing Potential in Contract Manufacturing

AUSTIN, Texas, Oct. 25, 2023 /PRNewswire/ -- Essentium®, Inc., a leading innovator of industrial additive manufacturing (AM) solutions, has released further findings of its fifth annual independent research, indicating a promising outlook for the 3D printing industry. This comprehensive study, which draws insights from manufacturing leaders, underscores the growing significance of 3D printing in contract manufacturing, offering contract manufacturers new opportunities to enhance efficiency, reduce production costs, and increase their competitiveness in the evolving manufacturing landscape.

According to the research, 61% of manufacturing executives identified contract manufacturing as having the most substantial market potential for 3D printing.

Manufacturers cited various factors driving their increased adoption of 3D printing for large-scale production. Topping the list is the need to acquire additional expertise, with 43% of respondents pinpointing this as a crucial catalyst. Other key drivers include advancements in technology reliability (37%), cultural shifts towards innovation (32%), enhanced materials (31%), more compelling business cases (29%), improved technology for large-scale production (29%), and more. Significantly, some participants reported using 3D printing to compensate for labor shortages in other operational areas.

Said Blake Teipel, Ph.D., CEO of Essentium, "This research reaffirms the pivotal role of 3D printing in advancing contract manufacturing. It reflects the industry's growing awareness of the potential that additive manufacturing brings to the table. As Essentium continues to push the boundaries of innovation, we are committed to providing manufacturers with the tools and solutions they need to thrive in this evolving landscape."

When asked about their expectations for 3D printing usage in the next three to five years, 95% of manufacturing leaders anticipate an increase, while 41% of respondents describe this anticipated growth as "dramatic," a consistent trend observed in recent years.

The research also reveals a unanimous consensus among 3D printing stakeholders that further innovation is essential for the industry's advancement. Manufacturers agree that innovation is required across multiple areas, including post-processing (34%), software (34%), materials (32%), platforms (32%), printers (28%), and workforce development (25%).

For more insights into the research, please access the white paper here.

About Essentium

Essentium, Inc. provides industrial 3D printing solutions that are disrupting traditional manufacturing processes by bringing product strength and production speed together, at scale, with a no-compromise engineering material set. Essentium manufactures and delivers innovative industrial 3D printers and materials, enabling the world's top manufacturers to bridge the gap between 3D printing and machining and embrace the future of additive manufacturing. Essentium, Inc. is AS9100 certified and ITAR registered.

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SOURCE Essentium, Inc.