Known for its continual evolution, Additive Manufacturing (AM) or 3D Printing has tremendously assisted manufacturing bureaus to remain adaptable and progressive.
However, the Covid-19 outbreak has severely impacted the industry, causing many companies to face profit declines.
Let’s take a look at how critically the Covid-19 has impacted the 3D Printing industry and what’s next while the industry is trying to recover.
Over the last decade, the 3D Printing sector has shown a stable growth scenario. This growth is mostly due to continuous innovations and improvements in the industry.
Right from manufacturing footwear to developing extremely complex aerospace parts, 3D Printing applications has left the world amazed in every way possible.
However, the present Covid-19 scenario has brought some major challenges in front of this progressive industry.
As the nationwide lockdowns are applied, 3D printing had seen a high decline in sales and hardware demand. The long delay in purchases and shipments further worsened the situation.
International transport was banned and so as the shipments. Thus, domestic companies almost lost all international customers.
The aerospace industry which is one of the largest users of AM was completely down due to banned international travel. As a result, the lower demand from dependant industries like aerospace, automotive, etc. impacted the 3D Printing sector.
The recovery of the 3D Printing Industry
While most of the companies have seen a major decline in revenues, others maintained to be stable in the Covid-19 scenario. They have completed the previous backlog of orders in the meantime and also helped their customers to get back on track.
Likewise, some 3D Printing service bureaus saw the bright side of lower price and discounts during the pandemic period. With this opportunity, 3D Printing comapnies added brand new and powerful machines in their 3D Printing fleet. Also, most of the companies have used the spare time to kick-start R&D operations and build better customer relationships.
3D Printing Companies Came Forward to support Hospitals
Lockdowns and travel bans had left hospitals and medical institutions with limited medical supplies and resources. Thus, 3D Printing companies stepped in to provide 3D printed medical equipment in a short span of time. Ultimately, companies have seen significant demand for 3D printed medical supplies, kits, masks, etc., which helped them to regain a significant amount of profits.
As many of the countries started to recover from the pandemic, various sectors like automotive, aerospace, defense, etc. are restarting with safety precautions. One question that everybody is asking is that when will the things come to normal?
However, since the effective vaccine is not out yet, companies have to still operate with all the safety precautions and continue to observe to avoid any health issues. Additionally, with the help of new technology and improved online processes, companies can keep their current work in progress.
Facilities like online order management enabled customers to place orders online. They can also send updates and recommendations through online portal.
Transformations to Fight Pandemic
Along with safety precautions, most of the organizations are working on renovating their supply chains that will tackle the situations like Covid-19. Powerful supply chain capabiliites will further help them to be constantly running in business. 3D Printing backed with automation can provide quick and simple solutions to revatalise the manufacturing business in the present world.
The extreme challenges of manufacturing sector in the current pandemic situation can be tackled with fast and reliable manufacturing technologies like 3D Printing. With the power of digital transformation, 3D Printing bureaus can boost the manufacturing industry while enabling continuous connectivity. Therefore, the novel and revolutionary abilities of 3D Printing technology have proved to be effective for various sectors in need and help them to grow together.