3D Printers as an Investment: How Do They Pay for Themselves?

Some people see having a 3D printer in an organization like a school or office space as either a luxury or a novelty. While many businesses use these devices effectively and turn them into reliable team members, others either decide not to invest in one or don't even try to use the device they have properly. Used correctly, 3D printers can help increase profits, reduce costs and speed up prototyping. But how exactly? How does a 3D printer pay for itself in the long run?

How Do You Get a Return on Investment with a 3D Printer?

When justifying the investment in a 3D printer, you will eventually be expecting a return on that investment. This return can take many forms and the most appropriate use of the 3D printer will depend on the industry you are in.

Additive manufacturing is such a flexible production method that the number of applications it can offer may be limited only by your creativity. But there are tried and true ways to get a return on your investment in these devices that benefit businesses in different fields.

In-house Production

We often underestimate the amount of time, care and money that goes into producing the products we use every day. The production of end-use products requires a very high initial investment as things like injection molding and casting machines cost a lot of money. When the barrier to entry is so high, most organizations don't have the budget to produce their own products or models in-house and have to rely on 3rd party providers.

3D printers have the potential to completely eliminate this problem. Businesses such as architectural offices can print their own models, automotive workshops can produce spare parts for the vehicles they work on, and schools can print tools to increase engagement with students. Many schools are also using 3D printers for science projects and international competitions. The ability to produce products in-house gives users a freedom that cannot be achieved with other production methods.

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Rapid Prototyping and Better Designs

Both design and prototyping are a big part of the development process of a new product. A 3D printer will help you produce prototypes in-house, faster than any other manufacturing method, and test the physical capabilities of a design in a matter of hours. A wide range of filament options will make it possible to test the capabilities of certain materials in different environments. This is how engineers around the world use 3D printers to test new products and improve old designs.

By speeding up the prototyping phase and helping businesses develop better products, it gives them a competitive advantage over other businesses, which will hopefully increase sales and profits. If engineers had to produce prototypes using injection molding or casting, the same process would take much longer and would also be very expensive. An injection mold for a single model costs around $1000-2000, while a professional grade 3D printer usually costs around $4000. Calculate how much you could save in a few months.

The Next Stage in Automation

A fully automated production line is the dream of many manufacturers worldwide. With no need for human intervention in production, finishing and quality control, the workflow of workers is much lighter and the number of man hours spent on some tasks is minimized. We are at a point in automation where businesses are applying hyper-automation methods to things like data processing, user interface design and even content creation with the help of AI.

With such a high interest in automation, many manufacturers are now exploring the capabilities of 3D printing as an automated production method. This hands-off approach to manufacturing reduces the labor hours spent operating a machine, reduces the likelihood of any on-the-job accidents occurring, and allows manufacturers to easily scale their operations by adding more 3D printers to their production lines. Additive manufacturing is a safe bet for any business looking to develop a faster and more agile production line.

Mobile Production Line

One of the biggest problems with the production methods we mentioned earlier, such as injection molding and casting, is that the production process requires a number of different elements and large machinery to be able to start production. The equipment is often very large and extremely difficult and expensive to transport. This factor prevents businesses using these machines from adjusting the planning in their buildings or changing their offices.

3D printers are much more portable compared to the machines used in most other production methods. You can easily move them around the office space and rearrange the interior design as you wish. 3D printers are also great for work environments with no connection to the outside world, such as navy ships. Users can take the devices with them and carry a production line with them wherever they go. For military or navy personnel who need to produce a specific spare part, a 3D printer would be much cheaper than shipping parts across the ocean.

As a “Do-It-Yourself” Tool

Even if you're not a business and you're just a hobbyist trying out a desktop 3D printer you bought online, additive manufacturing can still help you save a significant amount of money. Instead of buying things like simple jewelry, phone cases, bottle openers and countless other household and personal items, you can find digital models online and print them yourself for a much lower price.

A study by MTU concluded that a 3D printer could save you up to $2000 a year by allowing you to print simple household items instead of buying them. If you are an enthusiast or a maker, you can easily increase this figure even more as you will probably be a bit more creative when it comes to 3D printing. Tiered production provides each user with home improvement tools and makes it much easier to replace the necessary items you buy occasionally.

An Extra Income

When the options for 3D printable objects are so high, people see a huge opportunity to build a business around it. Many people would probably benefit from having a 3D printer at home, but most don't. But that doesn't mean that if you want a specific 3D printed item, you can't get it online through some service.

3D printing has one of the best price-performance ratios compared to other manufacturing methods. People are taking advantage of this by setting up 3D printer farms and turning their passion for 3D printing into a full-fledged business. You can find a lot of 3D printed products on websites like Etsy, and items sold will include jewelry, screen figures, gaming accessories and other small things like keychains.

Conclusion

Thanks to the fact that 3D printers are not that expensive in the beginning, it is very easy to get a return on your investment in them. Not only can they be a passive source of income, but they can also save you a lot of money in the long run. Sooner or later, a 3D printer will probably pay for itself. How long it takes will be determined by the industry you are in. But even if you don't want to use your 3D printer for business purposes, it has the potential to make you money in countless ways.