3D打印，从制造到智造的跨越丨热门赛道

Industry Overview - 3D printing is a technology that constructs physical objects layer by layer based on digital 3D models, utilizing materials such as metal powders, photopolymers, and engineering plastics [5] - The manufacturing paradigm is shifting from large-scale standardized production to agile manufacturing that supports complex structures and small-batch customization, with 3D printing being a representative technology of "digital manufacturing" [6] - 3D printing offers unique value in various fields, including aerospace, healthcare, and automotive, providing solutions for personalized customization and lightweight structural design [6][7] Advantages and Limitations - 3D printing has a material utilization rate exceeding 90%, significantly reducing waste compared to traditional subtractive manufacturing methods, which can waste up to 90% of raw materials [7] - The technology allows for the creation of complex lightweight structures that are difficult to achieve with traditional methods, which is particularly beneficial in aerospace for fuel savings and performance enhancement [12] - Despite its advantages, 3D printing faces limitations in material variety and production speed, and it is not intended to completely replace traditional manufacturing methods but rather to complement them [7] Industry Chain - The 3D printing industry chain consists of upstream materials and core components, midstream equipment manufacturing and services, and downstream applications across various industries [12][13] - Upstream, the core technologies are concentrated in materials, key hardware, and software, with titanium alloys being the most used material in China, accounting for 20.2% of raw material usage [12] - Midstream, industrial-grade equipment is developed for high-end needs, while consumer-grade devices cater to personal creators and small businesses, with China being the largest market for consumer-grade devices [13] Market Trends and Financing - The 3D printing market is expected to exceed 100 billion yuan by 2027, transitioning from prototype manufacturing to direct manufacturing of core functional parts [14] - Financing events in the 3D printing sector peaked at 72 in 2021 but declined to 53 in 2023, indicating a market adjustment and a shift from speculative hype to practical applications [14] Key Companies - Shenzhen Intelligent Pie Technology Co., Ltd. focuses on consumer-grade 3D printing equipment and has achieved significant sales, with revenue expected to exceed 2.5 billion yuan in 2025 [17][18] - Suzhou Xidimo 3D Printing Technology Co., Ltd. specializes in metal 3D printing and has developed large-scale SLM equipment, maintaining a leading position in the industry [21][22] - Divergent Technologies, Inc. utilizes AI-driven digital manufacturing systems for the automotive and aerospace sectors, achieving significant revenue growth and securing substantial financing for expansion [26][29] Recent Developments - Meta has launched a new imaging model that enhances 3D model generation from 2D images, showcasing advancements in AI and 3D printing technology [31][32] - A major 3D printing factory is being established in Shenzhen, which will become the largest in the world, marking a significant step for China in smart manufacturing [33] - Apple has revealed details about its use of 3D printing in Apple Watch production, highlighting material savings and environmental benefits [35]