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Additive Manufacturing: Will China Become The 3d Printing Factory Of The World In The Near Future?

Author

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  • Răzvan Voinescu

Abstract

Additive manufacturing - or three-dimensional (3D) printing - refers to a group of technologies characterised by an accelerating maturation trend, which allow the creation of three-dimensional objects based on digital models, by sequentially applying and integrating layers of various traditional and innovative materials, from metals, polymers and ceramics, to graphene and other nanomaterials and composites. The technologies have applications in a variety of industries, from consumer goods production, automotive and aircraft parts, architecture and construction, to medical services and devices, or research and defence. Globally, the additive manufacturing market, which includes equipment, materials and 3D printing as a service, as well as their applications for prototyping and rapid manufacturing, has been valued at USD 15.4billion in 2020, with existing projections reflecting a four-fold increase to USD 61.1 billion in 2027. By the same date, China – the current 'factory of the world' – is projected to have a significant but less than one-quarter share of the global market – USD14.5 billion – against the backdrop of existing gaps difficult to narrow down.

Suggested Citation

  • Răzvan Voinescu, 2021. "Additive Manufacturing: Will China Become The 3d Printing Factory Of The World In The Near Future?," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 13(2), pages 23-47.
    • Handle: RePEc:iem:journl:v:13:y:2021:i:2:p:23-47
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    File URL: http://iem.ro/rem/index.php/REM/article/view/817/901
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    More about this item

    Keywords

    additive manufacturing; 3D printing; China;
    All these keywords.

    JEL classification:

    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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