It is now anticipated that the 3D printing sector is set to boom this year! Not only has the industry seen a steady growth over recent years but with the unpredicted irruptions following COVID19. The disruption that companies have endured in obtaining supplies through their usual overseas supply chains over recent months, means that they are now considering new opportunities to source materials and components more locally and those that can be produced using 3D printing equipment.
They see the benefits in more localised production which would see the 3D printing sector lowering emissions on haulage but also reducing lead times on shipping. It would mean that manufacturing could be decentralised and if companies need to switch from making one product to another, that this process could be quite effortless. Furthermore, if the 3d printing sector could combine their technology with robotics such as AI, then the industry could revolutionise beyond its current capabilities to build greater complex components.
To date, HP (Hewlett Packard) has filed 454 3D printing patents, it is hoped that the 3D printing sector will not only access new markets but could also lower costs to the consumer. Businesses and education are now also adopting the technology so that staff and students can become far more familiar with its capabilities whilst also exploring and expanding new possibilities for where techniques could be applied.
Looking to influence the 3D printing sector
Are you thinking of diversifying or setting up a new startup business which could influence the 3D printing sector? Here at Crendon Insurance we protect additive manufacturing businesses with a range of policies including 3D printing insurance, start-up business insurance, intellectual property insurance and technology insurance. As a specialist in tech-based insurance, we design bespoke commercial insurance policies to suit forward thinking businesses. To find out more please get in touch.
Blogs used to write this article: