The introduction of 3D printing into the consumer electronics field is expected to change the traditional supply structure

3D printing: From "subtractive" to "additive", the innovation of traditional manufacturing process

3D printing: Also known as additive manufacturing, it is a rapid prototyping technology. 3D printing is a technology that uses digital model files as the basis, using powdered metal or plastic and other bondable materials to construct objects by printing layer by layer. Traditional process: The manufacturing technology used is subtractive manufacturing, which mainly produces the required parts by removing materials. Compared with traditional processes, 3D printing has the following advantages: 1) It is suitable for manufacturing complex objects; 2) It saves materials and reduces costs; 3) It shortens the R&D and manufacturing cycle; 4) It is lightweight and integrated; 5) It meets customized needs.

Titanium alloy 3D printing leads the revolution, opening up market space

Honor and Apple are expected to introduce titanium alloy 3D printing technology to lead the industry's technological iteration. According to Jiemian News and Securities Daily, in July 2023, Honor released the folding screen Mag V2, which used titanium alloy 3D printing technology on a large scale for the first time. This technology is mainly used for the hinge cover part. This is the first time that 3D metal process structural parts have been used on a large scale on mobile phones. Compared with previous stainless steel and aluminum alloy materials, titanium alloy can better combine the characteristics of firmness and lightness, thereby reducing the thickness and weight of the phone and increasing its strength. The first large-scale application of 3D printing in consumer electronics is of milestone strategic significance and is expected to open up growth space in the future.

The introduction of 3D printing into the consumer electronics field is expected to change the traditional "multi-variety, small batch" supply pattern

3D printing has significant advantages in cost, speed and rapid prototyping. In the past, it was mainly used for "multi-variety, small batch" supply. 3D printing can be quickly formed and can play an advantage in the production of multi-variety products. At the same time, in the case of small batches, 3D printing technology is superior to traditional manufacturing processes in terms of cost, speed and flexibility. According to Yuanzhu, taking the production of 500 FUNMAT PRO 410 nozzle covers as an example, the cost of producing a single nozzle cover using traditional injection molding is 55% higher than that of 3D printing. The introduction of 3D printing technology into the field of consumer electronics is expected to usher in an era of mass production in the future. The large-scale use of 3D printing in the field of consumer electronics for the first time is expected to change the past 3D printing supply pattern of "multi-variety, small batch" and realize mass production in the future.

Technological progress, cost reduction and efficiency improvement are the prerequisites for the large-scale application of 3D printing in the field of consumer electronics.

Photothermal/materials/metal powders are the main costs of 3D printing equipment. According to Farsoon's prospectus, Farsoon's direct materials accounted for 80.4% of 3D printing equipment and auxiliary accessories in the first half of 2022. At the same time, optical thermal/electronic and electrical/mechanical/metal powders/consumables/polymer raw materials accounted for 37.2%/18.8%/15.3%/6.6%/3.3%/1.9% of the raw material procurement cost (excluding outsourced parts) in the first half of 2022.

The cost of 3D printing materials and equipment is falling rapidly. According to the announcement of Polylite, the price of metal 3D printing powder in my country continues to decline. The average selling price of Polylite's self-made metal 3D printing powder has dropped from 1.4448 million yuan/ton in 2020 to 781,900 yuan/ton in 2022, a decrease of 45.9%. According to the Prospective Industry Research Institute, the price of lasers in my country has shown a clear downward trend. The price of 3kW fiber lasers in my country has dropped from 400,000 yuan/unit in 2018 to 100,000 yuan/unit in 2021, a decrease of 75.0%. According to the China Economic Industry Information Research Network, the average price of laser galvanometers in my country has dropped from 2,225.71 yuan/set in 2017 to 2,139.43 yuan/set in 2021.

Applications: Aerospace, consumer electronics, automobiles, humanoids, and flying cars have promising future prospects

Market space: The 3D printing market is expected to reach US$29.8 billion in 2025

The global 3D printing market size reached 18 billion yuan in 2022 and is expected to reach 29.8 billion US dollars in 2025, with a CAGR of 18.3% from 2022 to 2025. According to Wohle Associates' "Wohlers Report 2023" and 3D Printing Technology Reference, the global additive manufacturing market size will increase from 8.095 billion yuan in 2017 to 18 billion US dollars in 2022, a year-on-year increase of 18.3%, and a CAGR of 17.3% from 2017 to 2022. According to Wohlers' forecast, the revenue scale of additive manufacturing is expected to reach 29.8 billion US dollars in 2025, with a CAGR of 18.3% from 2022 to 2025; it is expected to reach 85.3 billion US dollars in 2030, with a CAGR of 21.5% from 2022 to 2030.

Aerospace: Currently, 3D printing technology is mainly used for aerospace parts such as engines

At present, 3D printing technology is mainly used for aerospace parts such as engines. At present, the aerospace field is constantly exploring the use of additive manufacturing to produce aircraft parts, including engine components (such as turbine blades with internal cooling channels, fuel nozzles and compressors and integrated piping systems), as well as various hinges, brackets, internal components, lightweight fuselages, etc. For engines, static and rotating components in aircraft and spacecraft rocket engines are subject to extreme performance requirements and harsh environments, such as high temperature, corrosion, etc. These performances usually require components such as compressor blades, turbine blades, guide vanes and impellers to have highly complex shapes and be made of special materials. Therefore, the use of 3D printing technology can significantly improve the performance of aerospace vehicles.

For example, GE’s new GE9X engine for Boeing’s new 777X passenger aircraft has 304 3D-printed parts in seven multi-component assemblies, of which 228 low-pressure turbine blades are made using EBM technology and Al alloy, which weighs 50% of traditional nickel-based alloy turbine blades used in aviation. This makes the GE9X 10% less fuel-efficient than its predecessor, the GE90 engine.

Consumer electronics: Titanium alloys lead the transformation of consumer electronics, and the 3D printing market is expected to open up

Honor and Apple are expected to introduce titanium alloy 3D printing technology to lead the transformation of the consumer electronics field. In July 2023, Honor released the folding screen mobile phone Magic V2, which used titanium alloy 3D printing technology on a large scale for the first time. This technology is mainly used for the hinge cover part. This is the first large-scale use of 3D metal process structural parts on mobile phones. At the same time, Apple has accumulated 8 patents related to titanium alloy materials. In the future, it is possible to replace the previous aluminum alloy with titanium alloy for the middle frame structural parts in 15. In addition, Samsung, OPPO, vivo and other companies have begun to accelerate communication and testing with the supply chain, trying to use titanium alloy technology in the next generation of products.

In the future, as costs fall, the market space for 3D printed consumer electronics is expected to open up. Currently, the material cost of a titanium alloy shaft cover is about 30 yuan, and the processing cost is between 200-300 yuan. In the future, as 3D printing technology is further scaled up and the yield rate is further improved, it is expected to bring about a reduction in marginal costs. The further decline in prices is expected to drive the expansion of 3D printing in the field of consumer electronics applications and open up market space.

Automobile: In the future, 3D printing is expected to connect the entire life cycle of automobile production

At present, 3D printing is mainly used in the field of prototype and parts production. Due to the characteristics of rapid prototyping, 3D printing plays an important role in the field of automotive prototyping. At the same time, since 3D printing can realize the production of complex products, as well as lightweight and customized production, 3D printing is also used in the field of automotive parts production. At present, Mercedes-Benz, BMW, Volkswagen, Ford, Honda and other car companies are continuously promoting 3D printing technology. Since 3D printing has advantages in the production of complex and customized products, 3D printing is expected to further open up market space in complex structure products and customized products in the future.

In the future, 3D printing is expected to be used throughout the entire life cycle of automobile production. Currently, 3D printing is mainly used in the prototype and parts manufacturing stages, and has not yet reached the mass production stage. With technological progress, cost reduction, and increased awareness among automakers, the application of 3D printing technology is expected to run through the entire life cycle of the automotive industry in the future, further moving from research and development to production.

Drones/flying cars: Carbon fiber 3D printing is expected to become a mainstream technology in the future

Carbon fiber composite materials have the characteristics of high specific strength and high specific modulus. Carbon fiber composite materials are mainly made of carbon fiber mixed with resin, metal, ceramic, rubber and other matrices. They have the characteristics of high specific strength (lightweight, high strength) and high specific modulus (high elastic modulus per unit density).