As the global 3D printing market continues to expand, businesses are finding new ways to profit from this revolutionary technology. In Thorold, one local entrepreneur has transformed a personal hobby into a successful venture that's riding the wave of an industry now valued at $19.33 billion worldwide.
The entrepreneur's timing couldn't be better. Experts predict the 3D printing market will reach $101.74 billion by 2032, growing at an impressive rate of 23.4% annually. North America currently dominates with over 41% of the market share, creating a favorable environment for local business owners in this space.
3D printing market set to explode to $101.74 billion by 2032, with North America leading the revolution.
Starting with a single desktop printer, the Thorold business owner began offering prototyping services to local companies. They've since expanded to provide customized product manufacturing and spare parts creation, serving clients across multiple industries.
"I noticed growing demand in sectors like automotive and healthcare," the entrepreneur explains. Their client base now includes local medical device manufacturers and automotive parts suppliers looking for faster, more cost-effective production methods.
The business operates several types of printers, including FDM (Fused Deposition Modeling) and SLA (Stereolithography) models. The entrepreneur follows a carefully structured workflow that includes post-processing steps like cleaning, curing, and painting to ensure professional results. These technologies allow for working with various materials from basic plastics to specialized resins and even some metals.
Despite challenges like high initial investment costs and the need for specialized knowledge, the business has thrived by focusing on niche applications and maintaining high quality standards. The entrepreneur regularly attends workshops to stay current with rapidly evolving technology.
The desktop 3D printing segment alone is valued at $5.88 billion in 2024, with projections showing 23.8% growth through 2030. This creates substantial opportunity for small business owners in the field.
Looking ahead, the Thorold business plans to explore integration with AI technology and expand its material offerings. "The future is in customization and specialized applications," notes the entrepreneur, who's positioned to capitalize on emerging trends in this fast-growing industry.
