In the last 5 years or so, the market value for 3D printing services reached a whopping average of 25% a year. If you are an enterprising party, you know what this kind of scenario is all about or its implications.
Knowing how to discern a business climate and the ability to anticipate what is in store for you will help make a world of difference between making it big in the 3D printing industry versus being sorry for having missed out on a golden opportunity in this space.
3-dimensional printing, also known as additive manufacturing, with its dynamic increase in market value, gave rise to the renewed interest of many. This has set the stage for the burgeoning of new companies that offer 3D printing services.
The 3-dimensional printing services they offer are as varied as they can be. The reason being that there are many niches here in which a business could be developed. This benefits the new industry players because it will desaturate the seemingly stiff market competition and thus increasing their chances of winning in the market.
While there are a set of requirements that you need to deal with to start a business in this field, the following general information will help you out in setting your new 3D printing business.
Decide on the Kind of 3D Printer That You Will Become
There are many ways you can apply 3D printing in. That alone tells you there is a gamut of profitable niches that you can focus your attention on. This will include 3-dimensional printing of manufacturing components, production of highly in-demand prototypes, 3D toys, and local 3-dimensional printing services, etc.
Prototypes and Model Printing in 3D
Nearly 65% of the entire demand for 3-dimensional printing jobs usually comes from engineers who are involved with the development of a variety of consumer goods as well as those working in industrial and electrical sectors.
Besides, industries in technology, engineering, architecture, and medicine – all require device models, chemical compounds, or manufacturing parts.
The above-mentioned industries also have a dedicated development and research process catered to testing only prototype designs. They can also utilize the same to help them identify better and more efficient ways of designing and creating a manufactured part.
Did it ever cross your mind why 3D printed parts are in high demand these days? It is because they are significantly helpful in hastening up production time. But despite that, it will still put the cost down and not cause it to spike up.
Simply put, a 3-dimensional printing company can be of great help to other businesses because they help a lot in filling up the void in those needs. Doing that will prove to be quite profitable in the end.
3D Printed Toys and Collector Models
Another niche option that can be considered is the 3D printing of models of characters and toys, for collectors, children, and cosplayers. Like for instance, the helmet of the lead character in a famous fantasy TV show. Such would be very enticing to have and are going to attract all these 3 demographics.
What Type of 3D Printing Company Can Your Put Up?
Any new business, regardless of the industry they are in, will need a considerable amount of time to get off the ground. So don’t get the impression that a business in the 3-dimensional printing industry is an exemption to that. It is not.
This goes to show that part and parcel of the deciding factor in starting up a 3D printing company is determining exactly how much you can handle. This will cover your budget, how much of a physical space can be allotted for running this type of business you will have, and how many overheads or staff will be needed under you.
More importantly, you need to know how much of your time can be put aside/allocated to each of your projects.
It is a given that not all 3D printing businesses will be the same. Therefore, each will come with its own set of unique requirements.
For instance, if you decide to cater to the 3-dimensional printing of manufacturing for parts and prototypes, it will necessitate you to have or acquire large-sized 3D printer machines. And it is crucial that they come with a pack of specialized features or capabilities.