3D Printing in Oil & Gas Market by Offering (Printer, Material, Software, and Service), Process (Binder Jetting, Direct
3D printing is the process of constructing physical objects from a digital framework using a printer. The advantages of 3D printing such as rapid prototypes and small batch production have fueled the demand for 3D printing in oil & gas industry. However, factors such as increase in cost related to implementation restricts the use of 3D printing. Rapid prototyping, reduced delivery lead times, significant reduction in downtime, and cost-efficient benefits of 3D printing are key factors that drive the growth of 3D printing in oil & gas market. In addition, increase in investment by oil & gas companies boosts the growth of the market. However, lack of proper framework & standard process control, limited availability of expensive raw material, and limited product size are key factors that restrain the growth of the market. Optimization of supply chain management owing to reduced manufacturing time, low warehousing, and minimum inventory is expected to provide lucrative opportunities for the market. Difficulties in efficient integration of 3D printing within oil & gas industry is expected to be the major challenge for the market.
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