The Ministry of Electronics and Information Technology (MeitY) will soon be unveiling a policy that aims to foster the growth of 3D printing on an industrial scale. This strategy is a response to the rapidly expanding market for 3D printing technology and its various applications across multiple sectors.
Understanding 3D Printing
3D printing, also referred to as additive manufacturing, employs computer-aided design to construct prototypes or functional models of objects. This process involves depositing layers of materials, such as plastic, resin, thermoplastic, metal, fibre, or ceramic, guided by instructions from software. The industry surrounding 3D Printing currently focuses largely on additive manufacturing. Here, specific products are manufactured for projects with unique demands like lightweight equipment. One of the prominent areas of application for these products is the medical sector.
The USA stands as the global leader in 3D printing, holding over 35% of the market share. In Asia, China dominates the market with a 50% share, followed by Japan (30%) and South Korea (10%).
Key Aspects and Goals of the Upcoming Policy
The forthcoming policy seeks to motivate market leaders to base their global 3D manufacturing operations in India, while concurrently discouraging the import of printed material for domestic needs. The policy aims to create a favourable ecosystem for the design, development, and deployment of 3D printing and additive manufacturing. It hopes to assist domestic companies in surmounting technical and economic obstacles and to build supportive facilities for world leaders in this field.
Areas of Application
Auto and ancillary auto and motor spare parts business are areas where the policy’s impact will be seen. Applications range from engines to interior and exterior luxury vehicle components or even items such as landing gear, complex brackets, and turbine blades. Other potential applications include consumer electronics, printed circuit boards, clothing, toys, and jewellery.
Challenges in the Path
The niche nature and novelty of 3D printing mean there are no globally recognised qualifications or certification norms, leading to a lack of standards. There’s also hesitation about adopting this new technology as it’s poorly understood, and there’s fear it could lead to job losses particularly in high-skill sectors like medical equipment and aerospace technology. High costs associated with the parts for building a 3D printer and concerns over warranty coverage also hinder widespread adoption.
The Future Market for 3D Printing
MeitY projections estimate that the global market for additive manufacturing will hit USD 34.8 billion by 2024, expanding at a compound annual growth rate of 23.2%. Though 3D printing may not directly create jobs, it can bolster technological advancement.
The Way Forward
A dearth of investment and insufficient research and development centres for 3D printing technology in India have impeded large-scale adoption. However, increased understanding and awareness of 3D printing technology and its applications among users could enhance its adoption across the country. The Indian market shows high potential for growth, with the usage of 3D printing solutions continuously growing over recent years, fueled by improved market awareness. Comparatively, the growth opportunity in India exceeds that of mature markets like Japan, Germany, and the USA.
