The use of 3D printing or additive manufacturing is slowly increasing in the gas and oil industry. Right now, it accounts for not more than 0.1% of the general global manufacturing market. The market is now valued at $12.7 trillion.
According to the Thematic Research report, the additive marketing market is expected to be worth $32bn by 2025. It is also estimated that the market will be valued at $60 billion by 2030. 3D printing has appeared as one of the major empowering technologies in pushing industrial productivity.
Throughout the years, additive manufacturing technology has turned out to be prominent in various industries. It has significantly changed the aerospace and automotive manufacturing. In the gas and oil sector, some of the applications of this technology consist of manufacturing spare parts on location. They also include trying new designs of products and streamlining list management to lessen costs.
The Gas and Oil sector has demonstrated slow but constant acceptance of 3D printing in past years. Originally, technology was hugely limited to polymer-based products. But, recent improvements in metal-based 3D printing make this technology more appropriate to the Gas and Oil sector.
The main advantage of 3D printing tech lies in lessening the time it takes to make complex prototypes. 3D printers may as well lessen the time needed to make working products for using in operations.
Because of the strict environment patterns, unstable oil prices, and the ever-rising competition, firms are drifting towards complex machine designs to obtain operational performance.
The capacity to make complex arts that are otherwise difficult to make by use of traditional procedures is changing 3D printing. All these are making it to be a highly desirable technology.
Long procurement procedures for getting the sare arts usually compel Gas and Oil firms to keep exceptionally high inventory levels. This leads to warehousing expenses. 3D printing tech may handle this problem by allowing firms to make pieces on a demand basis.
Gas and Oil firms will notice a decrease in the overall costs used on supply chain control by the use of 3D printing. It is used in this case as the mainstream manufacturing tech. This would assist to enhance working performance and promote growth.