The use of additive manufacturing, or 3D printing, is gradually increasing in the oil and gas industry, says a report from GlobalData, a leading data and analytics company.
Currently accounting for less than 0.1% of the overall global manufacturing market, which is currently valued at $12.7 trillion, it is estimated that the 3D printing market will be worth $32bn by 2025 and over $60bn by 2030, says the report.
3D printing also promises enhanced operational efficiency and business growth for the oil and gas industry, it said. GlobalData’s latest thematic report, ‘3D Printing in Oil & Gas’, states that 3D printing has emerged as one of the key enabling technologies in driving industrial productivity.
Over the years, 3D printing technology has become prominent in different industries and has significantly influenced automotive and aerospace manufacturing.