- Use of large-scale additive manufacturing has doubled in past year
- SGLB’s revolutionary quality-assurance software offers unique solution to industry’s most significant hurdles to mass production
- Sigma Labs set to reap lucrative benefits of revolutionary technology that enables 3D metal printing industry to scale production
A new study has revealed a significant increase in the use of large-scale additive manufacturing technology, also called 3D printing. Essentium, a Texas-based innovator in industrial additive-manufacturing platforms and filament materials, released the study and marks 2020 as the year when additive manufacturing at scale transforms manufacturing across a number of sectors, With multiple manufacturers across various sectors poised to embrace 3D printing at scale in 2020, Sigma Labs Inc. (NASDAQ: SGLB) aims to exploit this rapidly growing market opportunity with its revolutionary technology that enables in-process quality assurance of 3D-metal-printed parts. Sigma Labs is at the epicenter of the explosive additive manufacturing market growth as the leading provider of third-party in-process quality-assurance software for the commercial 3D metal printing industry.
With its unparalleled PrintRite3D® software that allows nondestructive quality assurance during the 3D printing of metal parts, Sigma Labs is ideally positioned to support the manufacturing sector in its mission to harness the transformative power of 3D printing in 2020 and beyond. PrintRite3D enables in-process quality control of 3D metal printing, allowing errors to be detected and corrected in real time, thus saving money and time while providing the ability to scale production. By providing the unique quality-assurance solution that the 3D metal printing industry needs in order to enter mainstream manufacturing, SGLB is set to capitalize on the tremendous growth in 3D printing applications across a wide variety of sectors, including aerospace, automotive, biomedical and electronics.
The Essentium study shows that the number of manufacturers using 3D printing for full-scale production has doubled since 2018 – from 21% in 2018 to 40% in 2019 (http://ibn.fm/U5zSE). Essentium surveyed 162 executives from manufacturing companies around the world about their perspectives on trends and challenges of 3D printing applications in manufacturing. The research revealed that although additive manufacturing has been limited by scale, as the technology and leading players are reaching a new level of maturity, a considerable growth in the use of large-scale additive manufacturing is found. The study shows that the number of manufacturers using 3D printing for full-scale production has doubled since 2018 – from 21% in 2018 to 40% in 2019.
The survey reports that the sharp rise in 3D printing adoption at scale is driven by manufacturers’ need to reduce lead times (61% of respondents) and manufacturing costs (58%). Additionally, 59% of respondents expect to benefit from mass customization, while 59% expect to expand speed-to-part production and 51% want to achieve high part performance. Despite this growing enthusiasm for 3D printing, many respondents still face obstacles such as high costs for 3D-printing materials (51%) and hardware (38%), as well as an inability to scale the current 3D printing technology (31%).
According to the study, open ecosystems are expected to be the prevailing format within the industry as technology hurdles surrounding scale, economics, strength and speed of production face away. With these problems mitigated, the future of the industry can allow for 3D printing users and vendors to realize greater control of their innovation, choice in materials, and industrial-scale production at lower costs.
With additive manufacturing at scale now becoming a reality, Sigma Labs constitutes a compelling investment opportunity as one of the primary enablers of 3D metal printing adoption for serial production.
For more information, visit the company’s website at www.SigmaLabsInc.com
NOTE TO INVESTORS: The latest news and updates relating to SGLB are available in the company’s newsroom at http://ibn.fm/SGLB
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