Overview of 3D printer manufacturers

Overview of 3D printer manufacturers

Overview of 3D printer manufacturers

Proto Labs IncPRLB$48.25 Buy

Overview of 3D printer manufacturers

Align TechnologyALGN $282.11 Buy

Overview of 3D printer manufacturers

3D Systems CorpDDD$10.72Buy

Overview of 3D printer manufacturers

HPHPQ33,30 $

Brief overview of technology

3D-printing is the process of converting a model developed on a computer into a real three-dimensional object. Printing occurs due to the successive layering of thin layers of material. Basically, these are thermoplastics of various types., but ceramic ones can also be used, biocompatible and other composite mixtures. That is why this technology is called additive.

3D printing technologies differ depending on the materials and equipment used, but the general scheme of the process is always the same:

  1. A virtual layout of the object is created on the computer, while for that, to make a model, no 3D modeling skills required. A special scanner photographs a real object from different angles, creating a digital copy.
  2. The program does slicing - it breaks the model into many thin horizontal layers.
  3. The template is loaded onto the 3D printer, the device reads the circuit and prints it layer by layer in volumetric form.

Application area

Using a 3D printer, you can copy any object or create your own. The possibilities for additive printing are almost limitless.. Now the technology has already found application in various industries.:

  • healthcare: creation of orthopedic orthoses, dentistry, transplantology, manufacturing of prostheses;
  • industrial production: details of machine tools and equipment;
  • space, aviation and automotive industry;
  • robotics;
  • construction: building layouts or individual structural elements;
  • food production: figured chocolate, jellies and other desserts;
  • household items: from smartphone cases and collectible figurines to shoes and home furnishings;
  • Jewelry.

At the moment, additive technologies are most in demand in medicine - 3D printing makes it possible to create consumables, prostheses, orthoses, caps and even absolutely accurate models of human organs - and in industrial production when creating parts and equipment.

But the scope of 3D printing is constantly expanding., opening up new opportunities for both large companies, as well as for small startups.

Industry Outlook

At the moment, 3D printing does not yet allow you to get fast and large-scale results., but the technology has proven itself in the fields, where accuracy and uniqueness are required.

The increased availability of equipment and the absence of the need for long training of personnel to work with 3D printers also played a role.. Over the past six years, the number of global and specific industries has increased, that use 3D printing technology, and this market is really limitless:

  • large companies or organizations may refuse to purchase the necessary consumables or parts, by producing them yourself in the volumes you need;
  • the role of additive printing in medicine has already been discussed above, and there are also broad prospects for development;
  • 3D-solutions lower the threshold for new players to enter the market. Now, to start your own production, there is no need to rent a room and purchase sophisticated equipment.. For example, have just begun to open up and have already begun to gain popularity in the niche of creating custom parts for auto tuning, collectible figures for fans of computer games or unique gifts.
  The Voice of the People

At the end of 2021, the volume of the additive printing market was $15 billion, calculations were based on the cost of 3D printing and the production of printers and components. In the coming years, the expert agency Business Insights predicts an annual growth of the segment by more than 24%. At this pace, by the beginning of 2029, the volume of the 3D printing market will grow at least five and a half times..

Technology deficiencies and company risks

Despite the prospects for the development of 3D technologies, 3D printing is not yet unequivocally a profitable industry. There are a number of difficulties, not allowing to fully rely on additive technologies.

The still high cost of equipment. Cheap 3D printers allow you to print small objects. To create parts of large dimensions, it is necessary to purchase expensive equipment, which may not be profitable.

Poor performance. This disadvantage should be considered in conjunction with the previous one.: Now the speed and cost of 3D printers do not allow them to be used in mass production., making tangible profits.

Insufficient strength of manufactured parts. The layered structure is more brittle in the direction of the layers, than a monolith, and cannot bear heavy loads..

Lack of stability. To use additive technologies on an industrial scale, equipment and materials are needed, which can provide higher production reliability. At the moment, 3D printing is most often used for prototyping., quality control or for the production of single parts.

The need for post-processing, which increases the cost and time of production of each unit.

unpredictability. Additive manufacturing is constantly evolving, new materials and printer models appear, and there is always a risk, what equipment, in which a lot of money has been invested, suddenly becomes obsolete.

3D printing companies on the St. Petersburg Exchange

There are quite a few companies represented on the St. Petersburg Stock Exchange, related to 3D printing, and it is not their main activity. This industry is so young, that at the moment it does not even have a reference significant index.

But the global trend of increasing demand for additive technologies in various areas of life can open up new prospects for industry pioneers..

Proto Labs (NYSE: PRLB). Capitalization — 2.56 billion. Proto Labs was founded in 1999 in Minnesota, and by 2022 it already has more than ten branches in seven countries of the world. The company specializes in the creation of prototypes and finished parts on an individual order.. In this niche, Proto Labs is one of the largest and fastest manufacturers: it takes only a few days to create a part of any complexity.

  Two ways.

Since 2014, Proto Labs has been using additive technology for manufacturing parts.. In total, the company operates in four directions:

  1. Injection molding, revenue growth +4% year to year.
  2. CNC Machining, +41%.
  3. 3D-print, +17%.
  4. Sheet metal production, +24%.

Although as of the end of 2021, 3D printing has so far accounted for only 14,8% from the company's revenue, trends in the growth of technology popularity in the future can bring more tangible profits.

Overview of 3D printer manufacturers

3D Systems Corp (NYSE: DDD). Capitalization — 1.88 billion. The company was founded in 1986, headquarters in Rock Hill, South Carolina.

3D Systems manufactures and sells equipment, software and materials, dedicated to additive manufacturing. Most often, the company's products are used in the aerospace industry., automotive, semiconductor industries and healthcare.

3D Systems announced two separate acquisitions in 2021. The company agreed to acquire Titan Additive LLC, developer and manufacturer of large-format industrial 3D printers, as well as Kumovis, German supplier of additive manufacturing solutions for personalized medical applications.

After the announcement of the results for the fourth quarter of 2021, the company's quotes rose by 15%. This positive reaction was driven by double-digit growth in revenue 13,1% year on year excluding sales of a part of the business. Besides, 3D Systems cut its net loss by almost three times, and revenue forecast for 2022 was raised by 10%.

Overview of 3D printer manufacturers

Align Technology (NYSE: ALGN). Capitalization — 32.4 billion. The American company Align Technology is a manufacturer of medical equipment for dentistry and orthodontics.. The patented Invisalign bite treatment system is based on the use of transparent removable orthodontic caps., which are printed on a 3D printer individually for each client.

The company is headquartered in Silicon Valley, and a fast-growing network of branches covers Russia, Mexico, Costa Rica, Netherlands, Australia and Japan.

Digital orthodontics is developing rapidly, and Align Technology is not going to give up its positions yet. The percentage structure of revenue for 2021 is distributed as follows: 80% – sale of Invisalign products, 20% – sale of intraoral scanners and other dental equipment.

Overview of 3D printer manufacturers

HP Inc (NYSE: HPQ). Capitalization — 39.7 billion. The company does not specialize in the production of 3D printers, but still is one of the leaders in the additive printing market.

In 2014, HP developed Multi Jet Fusion powder 3D printing technology, which allowed to reduce the price and increase the speed of industrial 3D printers, and two years later, the first HP Multi Jet Fusion models went on sale.

  Takeoff BMC

In 2017, Hewlett Packard introduced the world's first 3D laboratory for testing various types of additive printing raw materials.. And in 2018, it announced Metal Jet technology for 3D printing of industrial quality metal products..

HP Metal Jet printer performance in 50 times higher, and the cost of finished parts is much lower, than analogues, working on other technologies.

7 April 2022 news came, excited investors: Warren Buffett buys $4.2 billion in stock. Immediately after the announcement of the transaction, the growth of HP shares amounted to 14,75%.

Compare companies by multipliers, growth rates and research and development costs.

Overview of 3D printer manufacturers

Company multipliers

Capitalization, billion dollars P / E Forecast P / E P / S Debt to equity
PRLB 2,56 38,00 28,00 2,81 0,01
ALGN 32,40 41,00 32,00 8,18 0,04
DDD 1,88 5,30 5,00 2,88 0,60
HPQ 39,70 6,80 8,70 0,69 −3,58

Revenue Growth Rate, million dollars

2019 2020 2021
PRLB 458 (+2,69%) 434 (−5,24%) 488 (+12,44%)
ALGN 2406 (+22%) 2471 (+3%) 3952 (+60%)
DDD 636 (−8%) 557 (−12%) 615 (+10,4%)
HPQ 58 760 (+1,3%) 56 630 (−3,62%) 63 000 (+11,25%)

Profit Growth Rate, million dollars

2019 2020 2021
PRLB 63 50 35
ALGN 442 1775 772
DDD −69 −149 322
HPQ 3152 2884 6503

R&D spending, as a percentage of revenue

2019 2020 2021
PRLB 7,2% 8,5% 9,0%
ALGN 6,5% 7,1% 6,3%
DDD 13,1% 13,3% 11,2%
HPQ 2,6% 2,6% 3,0%

Summarizing the data, several conclusions can be drawn:

  1. All companies are profitable, except DDD, which in 2021 received a one-time profit due to the sale of non-core assets.
  2. ALGN and PRLB have the lowest leverage.
  3. All companies are growing.
  4. DDD has the highest R&D spending, while the company has the lowest revenue growth rate. Investors should pay attention to this.

What's the bottom line?

Modern 3D printers can significantly reduce time and costs when solving problems of geometry control and reverse engineering in the automotive industry, aviation, mechanical engineering, shipbuilding, jewelry and medicine.

However, in any industry, especially in beginner, it is necessary to carefully select companies for investment, because you can always get on a promising, at first sight, startup, whose leadership, indulging in development costs, never be able to turn a profit.

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