The Economic Impacts of 3D Printing

In the recent past, a number of companies have adopted the 3D printing technology; a clear indication that this technology is likely to transform the manufacturing industry. Generally, this technology sounds futuristic. It is not a very complex process; the printer puts down layers of some substantial material until the layers build up to form an object. The object to be printed can be designed using a CAD (computer-aided design) software. Alternatively, the design can be obtained by scanning the existing object using a 3D scanning machine.The technological advancements have really reduced the cost of goods and services. This implies that there are higher chances that the cost of some products which will be manufactured through 3D printing technology will reduce significantly. Basically, as technology expands; there are higher chances that both goods and services are likely to be manufactured at or close to their point of purchase or consumption. Moreover, the number of goods which will be produced locally will increase. Apart from the price, its adoption will imply that other process such as supply chain management will be eliminated.Product customization; every consumer would wish to be identified with a specific good. With the advancement in 3D printing, there will be more customized goods. Manipulating the existing goods will be easier and cheaper. This is because the alteration process will not require retooling.All businesses along the retailing, manufacturing and supplying chain will have to come up with new strategies to have a fair share of the market. Take for instance the current situation where a good number of electronic products are being assembled or manufactured in China. Even the most reputable brands in the market such as Apple Inc. has shifted to China to source for cheap labor. Such countries will lose much of their force. This will consequently affect their economy since a good number of people will become jobless. This is for the reason that China will cease to be the manufacturing powerhouse. This transition may take place a little faster since other reputable companies such as HP have also shown interest in the 3D printing. Basically, as much as people should embrace technology, it also comes with its limitations which should be analyzed critically.


Of course using China in this article does not mean it will be the only country will be affected by the advancement in 3D printing. However, it is worth noting this nation has become a manufacturing powerhouse. This country has created unprecedented efficiencies of scale and reduced the key cost of production; labor. This has been possible through the intervention of the Chinese government, which has been pro-produced in the recent past.But, will China become the biggest loser suppose most companies in the United States of America and the Western country embrace the 3D manufacturing technology? Of course the Chinese government is one of those governments which has been very keen in protecting their local industry. Moreover, using 3D printers in manufacturing firms will not take place drastically. It is important to note that China will not be a big loser here. China is one of those countries which has a huge domestic market, which will still drive its economy. But as a matter of fact, it will cease from being a mass manufacturing powerhouse.Technology is very dynamic and it is still early to draw a conclusion on how much it will affect various economies.