Technological advancements have definitely
brought the world together and made our lives, businesses, & industries
much more efficient. With the expansion of resources and commercialization of
more & more industries, it has become the goal of companies to make their
production processes as cost-efficient & quick as possible.
A noteworthy example of innovations that are
making industrial manufacturing processes easier is 3D printers. Though this is
a relatively new concept in India, the industry has gained considerable
momentum internationally over the last few years. Budding entrepreneurs &
tech innovators across India have been given a much-needed push through various
government initiatives & substantial funding. The emergence of 3D printing
in the country has also been instrumental in generating newer opportunities for
designing, prototyping, and even mass production processes across numerous
industries.
Hence, with burgeoning requirements for 3D
printers on account of their benefits like ease, expeditiousness, &
versatility, coupled with extensive applications across different sectors like
the healthcare, electronics, construction, automotive, & aerospace
industries, a recent research report by MarkNtel Advisors has revealed that the
India
3D Printer Market is set to experience around 25% CAGR between 2022
& 2027.
How are 3D
Printers Transforming the Indian Construction Sector?
3D printers, in simple terms, are highly
technologically advanced machines used for developing complex & customized
products across different industries. They are slowly but surely gaining
traction in India's construction
industry, wherein both startup companies & big firms are adopting the
technology, mainly to address & resolve the housing shortage problems in
the country.
India's construction sector hasn't been too
resilient in adopting advanced technologies until the Covid-19 pandemic hit us.
Since then, the country has been observing a rapid adoption of 3D printers as
more & more technology institutes & IITs, among others, are now
massively investing in the technology.
The country hosts both local & international
manufacturers of FDM (Fused Deposition Modeling) and Resin 3D printers. The
fierce competition among these has led to numerous startups exploring a rather
unique & intriguing technology, i.e., concrete 3D printing.
The recent developments associated with 3D
printing in India's construction industry are remarkable but with future
implications. The country depends on IITs for all the research on the
feasibility of 3D printing and materials & cost savings achieved. Despite
the immense potential, there still exists a need to explore the technology, its
advantages, challenges, & its possible applications. Several startups are
seeking government support for developing toilets in line with the country's
"Swachh Bharat Mission," the approval & facilitation of which
would boost the 3D printer industry across the construction sector of India.
On the other hand, with active efforts by the
government toward digital manufacturing as a part of its digital economy outlook,
concrete 3D printing is very likely to be instrumental in housing developments
under PMAY (Pradhan Mantri Awas Yojana), which aims to build around 3 crore
houses by 2024 in order to address the housing shortage issues in the country.
Concrete 3D printers are undoubtedly easier to
manufacture than metal 3D printers but complex & costlier enough than FDM
& Resin 3D printers. With the increasing competition in the steadily
growing India 3D printing market, many startups that entered the industry just due
to its popularity perhaps witness anonymity, and only those with a robust
vision will sustain & gain in the future.
So, what’s next
for the 3D Printer Industry in India?
The coming years are likely to generate lucrative
prospects for numerous R&D activities in 3D
printing technology across different industries in India. It will not
only make industrial processes easier but more affordable, alongside various
innovations & products, coupled with entrepreneurial ventures in efficient
manufacturing and quality design & prototyping.
Hence, the increasing availability of
high-quality digital technologies & manufacturing services is set to give
rise to high precision & cost-effective products and production processes
and, in turn, boost the India 3D Printer Market in the years ahead.
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