3D Printing Revenue to Grow 22.8% Annually

That’s according to a recent study that cites aerospace and medical applications among the chief drivers of the industry on the manufacturing side. This technology has plenty of potential to shake up the moldmaking industry as well.

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This photo from DMG Mori Seiki showcases the Lasertec 65, a five-axis milling machine that also incorporates laser deposition welding. This concept made a big splash at the Euromold show this past December.

Reduced costs, rapid technological developments and new applications have driven revenue in the 3D printer manufacturing industry to grow at an average annual rate of 22.8 percent and total $1.4 billion in the five years leading to 2014. That’s according to a report released a few weeks ago by market research firm IBISWorld that also forecasts demand for this technology—and associated revenue--will continue surging during the next five years as it attracts more customers from more industries. For more information, check out this summary of the findings.

Although the report cites medical and aerospace applications among key growth areas for the industry, there’s plenty about this technology to interest moldmakers. This past December, the Euromold show in Frankfurt, Germany devoted an entire hall to additive technologies. And among other applications, U.S. manufacturers have already identified molds with conformal cooling lines as an area that can benefit greatly from this technology.

If you have plans to integrate additive in your own operations, or any general thoughts about the viability of this technology to our particular corner of the industry, feel free to send me an email or leave a comment below.

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