Additive Manufacturing (AM): An emerging trend shaping future industries
- According to Market Insider, AM is expected to grow at a compound annual growth rate of 24.5 % from 2018 through 2023,to reach $19,500 million in 2023
- In 2018, the AM market of North America had the highest market share, followed by Europe, Japan, and China. It is projected to happen so till 2023while China might show the highest CAGR%
The increasing climate crisis requires firms to adapt new skills. Higher production skills are creating values for the factories. Forbes says more than 70% of companies are stressed to take up technology well. This is because firms apply scientific blend without earning the profits on deal.
Here are some of the strengths of Additive Manufacturing (AM):
- Scale skill solutions: Factories must work newly to do well in the scenery of the fourth industrial uprising. The uprising is changing the insight of industries. It needs a focus on knowing problems and making solutions. This is more than adding higher tools. Factories are making new working systems. New system helps to merge the growth of technology. This helps to go over new blends across the entire company. For example: Fast Radius in the US bent an analytics stage. It catches data in the built-up process. The skill uses sensors and device learning. Such changes help to give advice.
- Helps in reskilling workers: Skill novelty must always think the effects on people at first. Production leaders must make sure that their teams get ability building. Additive production allows workers to invent with technology. It helps in talent building and creates ways of working. This builds up status of overall company. Apply of augmented reality provides support to workers.
- Helps in optimizing efficiency: Production represents 54% of the world’s energy use. It is liable for 20% global emissions. Increase in efficiency driven by technology can reduce carbon-dioxide emissions. Forbes says Unilever has reduced its material waste by more than 40%. This was possible in their Dubai factory. Material waste was reduced by digitally enabling quality running. For example: Henkel in Germany has developed a cloud- based data stage. It connects more than 30 sites. It is also possible of sharing 10 division centers in real-time.
- Creates a shared learning journey: Additive Manufacturing is able to create whole change across value chains. Joint learning trip can lead to high return on deal. This increases supply of facts. They are likely to increase novelty across the industry. The approach brings firms together to share best practices. This is essential to develop new approach. These practices are essential for future success. They lead to a feasible revolt and change the production system. Some industries like healthcare, automotive have been getting better production.
However, AM industry is not free from challenges. It possesses various difficulties. Some of them include:
- Technical challenges: A lot of firms are still loaded by old design constraints. Poor additive manufacturing is one of the reasons. Similarly, lack of nominal skill is making difficult to gain full level.
- Material challenges: Supplies for old production skills have gone years of progress. Moreover, the industry has defined supplies values and settings. This was done by globally known norms.
- Design Challenges: Most firms are trying to know vacant products. The products should move from usual to additive manufacturing. It is very difficult to design a good business case. This is nearly not possible for serial making.
- Capability challenges: A total change to Additive Manufacturing requires new executive skills. Firms need to use the full profit of these tools. However, it is hard to find a well trained staff. Staffs should be capable of applying 3D printing. The skill is basic for real-world creation.