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3D printing business profit
Is 3D Printing Business Profitable? 2022 Market Analysis
WHAT IS THE FUTURE OF 3D PRINTING?We frankly believe, that future of 3D Business will be brilliant. But this is just our belief, so better look at some data. First of all 3D printing is considererd one of the fastest growing manufacturing technology. During last 5 years value of 3D printing market was increasing every year in average nearly 25% yearly. According to many forecasts, 3D printing will develop even faster in the following years. In 2018, several well-known large brands have dropped products made partly using 3D printers. Best example were 3D printed parts for BMW wehicles, Adidad shoes made of 3D printed insole, or Gilette pilot razors with customizable 3D printed handles. These are just some examples of 3D printing becoming increasingly popular and entering new realms of life and economy. But the increase in the popularity of 3D printing can also be seen in many other places.
One of the best indicators of how 3D printing is developing is how quickly and dynamically its value on the market increases. According to 3D Hubs 3D printing market is going to be worth about 25,0 billions USD in 2023. This means an incredibly intensive increase in the value of this market. As you can see on the chart above, Wohlers forecast was even more optimistic.
There are opinions that 3D printing will become 100% of the manufacturing market. However, this will not happen right away, if only because the market is saturated with traditional production methods such as subtractive manufacturing and 3D printers are not yet able to compete with all that methods (like forging).
Generally, all indicators and forecasts, as well as current trends, indicate that we should expect further intensive growth in 3D printing popularity. This will directly result in a significant increase in public demand for 3D printing services and products.
#1
3D printing of prototypes and models
This is a niche where 3D printing and made by it 3D models are absolutely necessary.
Industries like architecture or engineering as well as science often need to print models of buildings, devices or chemical compounds. 3D printing is also necessary for design analysis. Starting such a printing lab close to university can for sure very profitable, because students and technical universities provide constant demand for 3D models. So if you can start 3D printing near the technical university it will be nearly sure that your business will succeed and will develop quickly, because you will have many clients everyday.
It’s worth noticing that 65% of demand for 3D printing is currenctly coming from engineers workin in development of industrial, electrical or consumer goods (source).
#2
Industrial 3D printing
This one is the most risky and at the same time the most profitable 3D printing business idea.
You will need to spend at least $20,000 up to 100,000 to buy industrial 3D printing machine. But the possibilities of such printer are amazing and really powerful.
If there is demand for something made of plastic, which is unavailable in your market, and demand for that is huge – than industrial 3D printer is great idea. It can create furniture, car parts, bikes, parts of houses, ships, parts of planes and many more.
In order for this type of business to be effective and earn well, you must be able to acquire large companies and wealthy customers who will be willing to place large orders with you. Such a large investment can be risky, because you usually need some time to find customers and advertise your business.
#3
3D Printing point (printing on demand, with service and help)
Already there is a significant number of people who sometimes need to print something in 3D. Because high quality 3D printers are too expensive, people often prefer to pay for service of 3D printing company to create something they need. This type of business will need:
- Good localization.
3D printing is definitely something that will work mostly in big cities especially in city centers - Marketing and advertising your 3D services are highly recommanded, especially at the beginning. Let world hear about your business. There are already a few 3D printing businesses like that, but few people know about them.
- Customer-friendly service
- Accepting online orders for picking up later or for shipment will be an attractive advantage
#4
3D Scanning and 3D Printing
This niche of 3D business is an absolute diamond in the rough. It’s only a matter of time until a 3D scanning workshop works in every city center. People need replicas of many things that are necessary for us every day. Favorite toy of your child who broke down, bumper for a historic car, accessories for the garden, skateboard,
#5 Local 3D printing manufacture
One of the most profitable ideas for 3D printing business is producing things and selling them.
Things that can be produced with 3D printers are so much diversified and there are millions of them that you can create. Sky is the limit here, so incomes will depend on your creativity and quality of produced products.
Cases for smarfones, toys for kids, home accessories are just few examples of things you can produce with 3D printer. The most important factors that determine if your business will pay off is to listen to the needs of market. It is best to print things for which there is demand. A great idea to produce things from a 3D printer is to create popular and iconic items that were hard to get today. They can be, for example, 1: 1 replicas of motorcycles, shotguns, cannons, crowns. Good business can also be the production of realistic food replicas. They are needed in many restaurants, shops and bars, so that artificial food that looks realistic can be seen at exhibitions at the windows of shops.
#6
Creating and selling 3d printers made by you
The market of 3D printers is still young, but competition is already high.
Below in this article you can find links to tutorials teaching how to create your own 3D printer, which is pretty easy to do. Creating your own 3D printing product should be very profitable, but it needs time, and bigger investment (for things like marketing etc.).
#7
Creating prototypes of 3D printers
This one can be very lucrative, because big companies are eager to pay for prototypes of good quality 3D printers. However, it requires serious engineering skills and knowledge. If you have them and you have idea how to build innovative 3D printer, than it’s nearly sure that one big company will buy it from you.
#8
3D printed toys for children
It is easy to create anything wiht 3D printers including toys. You can create amazing-looking toys, some of them based on popular characters from books, movies or games. Niche of Toys-shops with 3D printed toys seems to be not yet even started. It would be amazing if kids can come to that shop, choose which one toy they want, and then have it manufactured at the same time in 3D printer.
Read also: 75 Unique Ideas for the Most Profitable Business in Texas
10 Most Profitable 3D Printing Business Ideas For 2022
3D printing is proving to be the technology of the future. The technology is reducing the time taken to accomplish tasks like build houses or manufacture everyday items. As the world looks for new ways to apply the technology, you can allow rewriting services to take over your writing and correcting assignments.
3D technology involves the use of a single machine to build an entire item. For instance, you can print a house using 3D instead of building it brick by brick. Such products are a novelty because they come with a remarkable level of accuracy. They use less material and time, increasing your profit margin in the process.
3D printed materials also weigh less. If you are printing several items, the level of precision is higher than creating each item individually. The technology will, therefore, help you to create uniform items for the same purpose.
3D printing has been used to create smaller items in the past. As technology advances, equipment is available to build larger items. For instance, you can print an entire apartment block using 3D technology.
Here are excellent items that you can create using 3D technology. Let's see the 10 most profitable 3D printing business ideas.
Quick Navigation
Most profitable 3D printing business ideas
1. Personalized Earbuds
2. Detailed Models
3. 3D printing sensitization
4. Improving existing products
5. Promotional items
6. Medical pills production
7. Prosthetics
8. Prototyping
9. Developing electronic items
10. Customizable and sustainable fashion
Conclusion
Most profitable 3D printing business ideas
1. Personalized Earbuds
More people are using earbuds as mobile penetration increases.
However, many of the earbuds available are uncomfortable because they are not designed for your ear size. As a result, you struggle with the sound quality, listening experience, and design of your earbud. 3D printing has come to your rescue.
3D printers use scanning technology to assess the most appropriate earbud design. The design ensures that all boxes are ticked. Instead of relying on a universal design, you will get a personalized style that fits the shape of your ears and will deliver the best sound quality.
The technology incorporates remote scanning. As the entrepreneur, you will provide a scanning platform that can send images of the ears of your potential clients. The images are in 3D ensuring that you can feed the same to your 3D printing machine.
The advantage of using 3D printing in such a case is to deliver maximum comfort. With a unique and perfectly printed earbud-style, you can enjoy your music or sound without hindrances.
As people search for sound quality and comfort, you can serve them online or in physical locations. It is one of the most interesting 3D printing ideas to explore. You can also find out essay writing service uk to write an essay including topics related to 3D printing to avoid poor grades.
2. Detailed Models
More businesses are using the digital space to create product models. The products feature meaningful details because they are used for demonstration. However, a time comes when these details must be added. 3D printing will come to the rescue of businesses looking for detailed product models.
The speed with which 3D printing completes a model will be the saving grace. You can run a model in record time without having to rely on shipping and remote manufacturing units. A marketer can take the models to different clients and potential financiers without the hustle of lengthy manufacturing processes.
Some of the firms interested in 3D models include architectural firms, museums, interior designs, and inventor entrepreneurs.
Some print the entire product while others require a frame on which to add other details. The short delivery time makes 3D printing the chosen mode of developing working models or samples for different industries.
3. 3D printing sensitization
Now that you understand 3D printing technology, which other industry needs to get the point? A lot of industries have not embraced this technology. They are not even exploiting the technology to make their work easier. If only they could use 3D printers, their operations would be easier and more rewarding.
Begin to teach businesses about 3D printing. Your target will be the front and backend users of the technology. Visit industries that could benefit from 3D printing technology and sensitize them about its usage.
IT developers are crucial in the application of 3D printing technology. Each item requires unique coding to guide the printer. The entire process will depend on software developers.
Each client must have a unique design based on the products to be printed. The IT coding team plays a crucial role in designing the software. This makes such firms a crucial part of your 3D printing technology education.
The public also needs to embrace 3D printed items. Most consumers are still stuck with the traditional manufacturing model. Teach the public or consumers about the accuracy and efficiency of 3D printed models. Once they understand the technology, they will embrace the technology, helping to expand uptake.
4. Improving existing products
Work with 3D printing technology to reverse-manufacture some of the existing products. You may work on part of an item or the entire product. The aim is to improve the production process through increasing speed and reducing the cost of manufacture.
Look for products with frames or main structure parts that can be printed in 3D. For instance, you may produce the main part of a computer using a 3D printer.
You may also deliver the body of a car using a 3D printer.
Manufacturers are looking for such alternatives. They want to deliver products to their customers in a shorter time and at a lower cost. Research the possible areas to save and improve efficiency and pitch the idea to manufacturers.
Redeveloping existing products will require a bit of creativity. You must also research the aspects like materials that can accommodate 3D printing. Industry standards must also be maintained when handling 3D-printed products.
The overall aim of revamping existing products using 3D printers is to make it easier and faster to produce them. If manufacturers are to buy your idea, it must demonstrate efficiency.
Can 3D printing help manufacturers to customize these products? Test the technology and recommend it to them. It will improve manufacturing potential and endear brands to the target clientele. If the method can produce more sustainable products, you can use it as a marketing edge to convince your target manufacturers.
5. Promotional items
These promotional items come in the form of memorabilia. They are attached to the main items to enhance the overall experience. Airlines, for example, issue plane models to those booking their flights. Hotels also use such items to promote their brand.
Use 3D printers to help individual hotels, airlines, institutions, and enterprises to produce such promotional materials easily. For instance, a 3D printer can be used during a flight to produce customized models. The models may capture the names and flight details of the target clients. It is interesting and memorable to have the plane printed while you watch.
3D printing allows you to use recyclable materials and create a better experience. It makes such promotional items cheaper and accessible. They do not have to be shipped from overseas while a receptionist can print one in minutes.
Ad agencies have the responsibility of developing such promotional materials.
Approach them to provide better alternatives. If you can help them to help their clients to make better promotional materials, you will have an advantage over any other manufacturer.
6. Medical pills production
One of the beneficiaries of 3D printing technology is the medical industry. In 2015, US FDA approved the use of 3D printing technology to produce medical pills. The technology is yet to be fully utilized. It means that there is still a lot of potentials to expand its usage.
3D printed pills come with the option to use different materials. The materials make the pills dissolve faster once placed on the tongue. It will increase the speed of action in the body, helping the patient to heal faster.
3D printed pills also protect the stomach from damage caused by pills that stay too long on the surface. Some of the pills have been blamed for stomach ulcers because they break down at one place in the stomach.
3D printing is also changing the composition of drugs.
While the same drugs are needed to treat similar diseases, other underlying conditions demand a variation. 3D printing can be used to customize pills to meet the needs of multiple medical conditions.
The idea of printing pills requires a person with a medical background. Alternatively, you can research the subject further to find a way to use the technology better. Since it is yet to be perfected and can only apply in some situations, there remains a lot of room to improve the technology.
7. Prosthetics
Prosthetics is one of the medical industries that will benefit from 3D printing technology. People who need prosthetic arms and legs have very personalized limb structures. The molds used to manufacture these prosthetic arms and legs are unable to produce the exact model to make movement easier.
3D printing is used to customize the prosthetic arms and legs to make them easier to use. Instead of depending on universal molds, the manufacturers use a printer to produce a customized arm or leg.
The process requires the use of 3D scanning technology that is then combined with the printer. It will produce a more customized prosthetic, making it an easier fit than using universal molds.
The prosthetic industry has a lot of opportunities. You can produce customized arms, legs, teeth, and other mobility tools. Even wheelchairs are produced using the same technology.
Beyond the items that are attached directly to the body, there are other items for use by people with disabilities. For instance, you may attach a customizable toilet to a wheelchair. New opportunities will also emerge as you find innovative ways to create prosthetics using 3D printing technology.
8. Prototyping
Every product goes through the prototyping phase. However, it is expensive as you have to send models to manufacturers who create molds that are used to produce the prototypes. 3D printing is changing the prototyping phase of developing products.
3D printers are used to rapidly prototype the items produced. Once you make slight changes, you only need to adjust the commands given to the printer. It enables you to produce new models faster.
Prototyping is an expensive development phase for many entrepreneurs. It has discouraged a lot of them from completing their inventions. With the rapid prototyping capability, you cut down on cost as well as the speed of developing new models.
3D printing will reduce the time taken to get an idea to become a product. More people will embrace innovation, helping companies and entrepreneurs to run more profitable businesses. It is one of the ways to spur innovations and produce more precise inventions.
9. Developing electronic items
Electronic items are becoming smaller by the year. It means that the products require more procession to make them functional. However, the traditional methods of manufacturing cannot accommodate these demands.
The world has to turn to 3D printing.
The technology is already in use, albeit for parts of the laptop. For instance, it is used to develop the mold upon which other parts are placed. As a 3D printing enthusiast, you need to refine the process. Allow more parts to be imprinted into the mold, making it more effective for use in the manufacture of electronic products.
Beyond electronic products, you can transfer the technology to other areas. They include kitchen appliances, entertainment electronics, and other office appliances. As more electronic products demand precision, the technology will become more useful.
10. Customizable and sustainable fashion
What if you would produce an entire dress without seams? What about shoes and other fashion items? This is the future of 3D printing technology. It will help the fashion industry and its subsidiaries to develop innovative products easily and fast.
3D printing technology will help to use recyclable materials to produce fashion items.
You can print personalized jewelry without considering the scale of production. Some of the global fashion brands like Adidas are already using 3D printing technology.
Conclusion
The ideas for using 3D printing technology are endless. Based on your resources and creativity, you can start a business and serve interested customers from all parts of the world. It is time the world enjoyed the ease, customizability, and speed of 3D printing technology.
Let's talk about the beginning of earnings? Business model with 3D printer
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Good day to all.
Quite often I see questions about "starting a 3D printing business". Therefore, I would like to share my thoughts on this issue. The article will not have a ready-made business plan, but there will be ground for reflection on it (I hope). In order not to be unfounded, below are the Yandex search statistics.
These statistics are only from Yandex, so you can safely multiply by 2.
Actually what I'm talking about. Many people buy 3D printers in the hope of additional income from the provision of 3D printing services. Often, thoughts like: "I'll post an ad on Avito and orders will go through people's heads." Many of these businessmen simply remain alone with the printer or sell it afterwards. The competition in this area is already simply colossal and is only growing. Therefore, climbing into the service sector of this format without investing in advertising seems to me not the best idea. Moreover, almost two printer costs will have to be invested in advertising in this direction. Generally not an option. There is one way out for stuffing the client base - this is price dumping with its subsequent increase. But here, let everyone decide for himself whether he is ready, filling the base, at first to print "for 0" or even in the minus.
The second option is already less common, but still relevant in this matter.
3d modeling + 3d printing. This format of the service is in great demand and you can already earn at least on modeling, and at the same time spend only time. Everyone should determine the price of their time for themselves, since we are all different. But even here there is more than enough competition.
Well, now actually what I want to talk about. At the time of purchase of the 3D printer, I already knew what I was going to do with it. For me, it was initially a tool to a greater extent, and not earnings. Noah understood that I could print, which would bring me some kind of income. Of course, I will not say what my projects are, but I want to share the logic of thought, or, if you like, the business model.
1st version
The beauty of a 3D printer is that there is no need to create a batch on it, to make molds or molds for casting parts. You can get by with a sample. And I think that a person who buys a 3D printer for business needs to know what he will do on it.
At least roughly calculate the cost of production and the real demand for the product on the market. As an example, I can cite the sale of handles for a metal detector on Avito. I didn’t go deep into this issue, but I suspect that this thing is useful. In general, one of the options is to take as a basis a part that is in demand (perhaps some kind of automotive) on the market, learn how to print it at least well, and already post an ad on Avito or on specialized forums. This behavior can kill two birds with one stone. There is no need for advertising, since this product is already needed by someone, and Avito itself will give your ad on the Internet, including if you format it correctly (I advise you to watch a video on this topic), and there will also be no need to fight with competition, since with the right choice of product it will either not be, or will be in a minimal amount. The same wordstat from Yandex can help you with the choice. And the number of such goods is limited only by your busyness.
2nd option.
Here you have to turn on your imagination. We must set ourselves the task of inventing a new product and promoting it. In this matter, one must understand that there is no competition at all, but there is also no advertising. Will have to look for it. Without investment, or almost without, it's real. I'll give you an example. Suppose you want to sell mini boxes with video game symbols, why not?
Let's say something like this. This idea has not been brought to mind at all and most likely it will not come to life in my hands, so you can take this idea, bring it to mind, learn how to print, make a collapsible box (that's exactly what I wanted to do), and start promoting. As marketers say, "sow demand." As an option, send it as a gift to some streamer (s), having previously made a website with possible models. Making a website as a whole is not so long and difficult. You just have to really put in the time for it. And with due diligence, you will bring a completely new product to the market, and you will receive money for it.
Personally, my projects worked in both cases, and I don't take printing to order (although I was just asked to do it a couple of times), but I don't rely on the orders themselves and purposefully don't look for them.
In general, this is very crumpled, and I would like to describe more, but people do not like to read long articles here)
Thank you for your attention, I will not mind discussing the article in the comments)
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Forecast of 3D printing market growth in 2020
Analytics and business
Author: Semyon Popadyuk
Author: Semyon Popadyuk
3D printer sales forecast up to 2020 | Profit Growth Forecast | Manufacturing and 3D printing | Changing budgets for additive technologies | Why manufacturers use 3D printing
Predicting the future of the 3D printing market is no easy task. This relatively new technology puzzled many analysts: they could not imagine what practical problems new types of magic machines could solve in the future. When 3D printing was booming in the late 2000s and early 2010s, the phrase “3D printer for every home” seemed very tempting. However, it soon became clear that things were not so simple.
The 3D printing industry is growing rapidly. The next frontier is production
3D printing is not a technology that is meant for everyone and everyone. Working on a 3D printer, it is not enough just to press a button and get a finished product. Additive manufacturing includes 3D design, post-processing and a general understanding of how the equipment works - that's when the scheme will work in full force. The result was overly optimistic forecasts for the 3D printing market, which did not materialize.
Without exception, industry analysts are predicting skyrocketing 3D printer sales, profits and potential applications by 2020. The increased use of 3D printing as an effective tool for manufacturing companies will play a huge role in this projected growth.This infographic shows the expected growth of the 3D printing industry in the coming years:
Expected to sell 15 times more 3D printers by 2020
In its Global 3D Printer Forecast 2016 report, Gartner notes a rapid growth in 3D printer sales (108%) between 2015 and 2016 (219,168 printers sold in 2015, 455,772 in 2016).
Analysts do not foresee a slowdown in sales growth in the foreseeable future. According to a Gartner report, over 6.7 million 3D printing devices will be sold in 2020. This is more than a 15-fold jump from the 2016 summary.
Projected 3D Printing Industry Profit by 2020 - $21 Billion
Gartner is not alone in its predictions for the 3D printing market. According to Wohlers, global profits in this area in 2016 amounted to $6 billion, in 2017 it will grow to $9 billion, in 2018 to $12 billion, in 2019 to $16 billion and will reach $21 billion. in 2020.
71% of manufacturers use 3D printing today
We have seen how the 3D printing market is predicted to grow overall. Now consider what role manufacturers will play in this growth. A PWC survey of manufacturers found that 71% of those surveyed use 3D printing to some extent (compared to 66% last year). It also found that 20% of manufacturers are using 3D printers to produce finished parts, up from 10% the previous year.
50% of manufacturers plan to increase their 3D printing budget within the next year
As can be seen from the PWC study, many companies are actively implementing additive manufacturing. According to Fast Radius, manufacturers have not only mastered the technology, but have achieved positive results, and therefore plan to increase spending on 3D printing over the coming year. This applies to more than 50% of respondents, while 33% noted that they would increase the relevant budget items by more than 50% compared to the previous year.
60% of manufacturers use 3D printers to make functional assemblies
Manufacturers who adopt 3D printing will use it for a variety of purposes, from simple experimentation to prototyping and printing functional assemblies. According to the aforementioned Fast Radius study, manufacturers mainly use 3D printing for prototyping (77%), while printing of functional assemblies falls slightly short of this figure (60%).
