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3D Printer Wars: An Industry Primer: Black Arbs: Research
3D Printer Wars: An Industry Primer: Black Arbs: Research
3D Printer Wars: An Industry Primer: Black Arbs: Research
An Industry
Primer
Black Arbs: Research
09/12/2013
1
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Concept (3)
The Process Explained (4)
The Market Ecosystem (5)
3d Printing Applications (6)
Industries using 3d Printing Applications (7)
Organizations utilizing 3d Printing (8)
3d Printing Methods (9-13)
Market Size (14)
Market Share (15)
3d Printing Industry in Context (16)
Conclusion (17)
Table of Contents 2
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Concept 3
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Market Ecosystem 5
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3d Printing Applications 6
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Aerospace/Defense
Architecture/Geo
Arts/Entertainment
Automotive
Consumer
Culinary
Education
Energy
Healthcare
Hobbyist
Jewelry
Industries using 3d
Printing Applications 7
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NASA Boeing
GE Xerox
Nike UPS
Ford Harvard
Mattel North Carolina State
MIT Pfizer
European Union Knight Cancer Institute
Southampton University United Therapeutics
(U.K.) University of Oxford
NYU Deloitte
U.S. Army Et al
Organizations utilizing 3d
Printing 8
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3d Printing Methods 9
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3d Printing Methods 10
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3d Printing Methods 11
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3d Printing Methods 12
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3d Printing Methods -
Variations 13
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Wohlers, an industry consulting group, has estimated global revenues will approach $6 billion by 2017 and
10.8 billion by 2021. Here I have backed out the global growth rates based on publicly available excerpts
from their extensive report.
7.81 25.0%
$8.00
6.64
20.0%
Billions
$6.00 5.64
4.80 15.0%
4.08
$4.00 3.47
2.76 10.0%
2.20
$2.00 1.70
5.0%
$0.00 0.0%
2011 2012 2013E 2014E 2015E 2016E 2017E 2018E 2019E 2020E 2021E
Market Size 14
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Using Wohlers estimated total industry revenue in 2012 of $2.2 billion dollars, we can back out an estimated market
share for some of the well known publicly traded manufacturers.
DDD
16%
SSYS DDD
10%
SSYS
XONE
1% XONE
Arcam
Arcam
Others 1% Others
72%
Market Share 15
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In 2011 the World Bank estimated global GDP at $70.4 Of the ~$12 trillion in GDP contributed by global
trillion. Of this global manufacturing contributed almost manufacturing only ~$1.7 billion came from additive/3d
$12 trillion. printing or 0.014%!
100%
90% $11,963.1 $1.7
100%
3d Printing Industry in
Context 16
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The industry has existed for almost 30 years but recent advances in technology have led to rapid
innovation in retail, commercial, and medical applications that have the industry poised to almost
triple by 2017 (Wohlers).
Two firms dominate the industry based on sales 3d Systems (16% market share), Stratasys (10%).
But there are many other firms contributing to the 3d printing ecosystem that may or may not be
public, and may or may not be exclusive to the 3d printing industry.
Currently manufacturers are looking to find ways to integrate additive manufacturing in their
production process as they have found significant cost reductions in prototyping, industrial design,
custom orders, and some direct production of finished goods.
The industry is in its infancy and has immense potential for growth on an absolute and relative basis.
As a percentage of global manufacturing GDP, 3d printing contributed a paltry 0.014% in 2011. As
new applications are discovered and old processes refined a hypothetical increase to 1% of global
manufacturing GDP would grow the market to $119 billion or 70x larger than it was in 2011.
3d printing has the manufacturing sectors support due to its actualized and unrealized potential to
reduce production and time costs; to innovate, customize, and prototype; to create previously
impossible design structures, and this presents a tailwind to a secular growth opportunity similar to
the pc revolution.
Perhaps the greatest commercial opportunity lies within the healthcare sector. Currently researchers
at universities, firms, and public institutions are collaborating to develop 3d printers capable of
replicating the native structure and processes of cells and eventually organs. The potential in this
area to improve the human condition cannot be overstated.
Wrap-up 17
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Brian Christopher
BCR@BlackArbs.com
BlackArbs.com
617.642.9211
Disclaimer: This report is provided for informational, educational, and discussion purposes only. Under no
circumstances do any statements within this report represent a recommendation or advice to buy or sell
securities and make an investment of any kind. You are responsible for your own due diligence. Black Arbs llc
does not provide investment advice nor make claims or promises that information provided will lead to any
specific result of profit or loss.