The 3D printing technology took over the world a few years ago and everybody wanted to get their hands on one of these printers. This surge in popularity was not a hoax, but a revolution in the manufacturing process as we know it. 3D printers made a lot of manufacturing processes obsolete. Not only were they being used in the manufacturing processes of large-scale industries, but they also revolutionized small-scale manufacturing businesses. This had great implications for the economy.
The applications of 3D printing are diverse. They can be applied to a plethora of things. 3D printers are a powerful tool for small-scale manufacturers who can manufacture complex designs and structures in a short time. Obviously, they also find their application for economy purposes. Let us see how 3D printing affects the economy.
- 3D printing allowed small-scale manufacturers to manufacture complex prototypes which were not possible before. Many costly and high-end machines were required for the said purpose which was not possible for these small-scale industries to afford. Moreover, they employed multiple manufacturing steps, which increased the cost. This was not a feasible business model using traditional manufacturing methods. The advent of 3D printing puts the small-scale industries back on the market where they can compete with the quality of products made by large-scale industries.
- 3D printing has reduced the cost of manufacturing prototypes. This has manifold advantages. For a manufacturing company, it means low production cost. This enables them to manufacture more products and at a cheaper For a consumer, they are made available to different parts which have various applications in day to day uses, which increases reliability and efficiency.
- 3D printing has a disrupting behavior towards industries. Small components which were costly to manufacture using traditional methods have become cheap and accessible to the common population. For example, hearing aids are now being manufactured mostly by 3D printing, which has reduced their costs by a great margin which has made them accessible to a big population.
- 3D printing can also boost the local Small industries can buy a 3D printer and can fill the gap of production and demand in their region. This is usually relatable to consumer products which include custom jewelry and various custom fixtures. This makes a self-sustaining economy.
- 3D printing also finds its application in construction where they are used to build small scales of projects. This has gained a lot of traction in recent times and for a good reason as well. This allows the engineers to find discrepancies beforehand which enable them to cut costs and save a lot of money.
- 3D printing is also being employed in the manufacture of panels for computers and mobile phones. They can be custom made according to specific requirements and provide top-notch fit and finish.
- 3D printing is also being used extensively in rapid prototyping. This process traditionally employs the use of large machines and is not usually a cheap process. 3D printing has enabled this process to become cost-effective without compromising with quality issues.
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