3D printing companies seek expanding market

3D printing is one of the latest growth industries in China. Young entrepreneurs and private companies are starting to invest in the new technology and coming up with innovations.

3D printing companies have flocked to this year's West China International Fair, bringing their newly designed products and technologies, looking to expand their market in western China.

"The price of a 3D printer is still high, but many local companies have already considered buying the product. Especially jewellery companies. It's easier for them to design their product effectively and efficiently," said Johnson Luo, Area Sales Manager at Renishaw.

The market for 3D printing and services was reportedly worth 2.2 billion dollars worldwide last year, 29 percent up from the previous years. The industry has been growing by more than 20 percent annually and growth is expected to accelerate.

This is one of the biggest 3D printing centers in China's southwest Sichuan province in Chengdu city. Experts say 3D printing is increasingly being used in the automotive, aerospace, and medical industries. They also say it could become more important in the final stages of production.

As 3D technology booms, companies are realising that if they want to get ahead, 3D is a way to reduce high costs of material and production.

"For example, we used to spend about 5,000 yuan designing a product sample, but now we use a 3D printer, we only spend 200," said He Jun, director of Sunfire Creative Industry Organisation.

But experts say Chinese companies are only at an early stage of using and producing 3D technology. There's still a long way to go in unlocking its full potential.