The printing and imaging segments of the manufacturing industry witnessed steep declines in the past two years. This was largely attributed to the impact of the global economic crisis. However, a reversal in this trend can be seen in the second quarter of 2021 as printing and imaging segment revenues rose.
Industries like automobiles, defense, medical devices, and consumer products are likely to benefit from this rebound. It is also expected that some of these sectors will experience slight losses while others may experience minor increases. We encourage you to also browse through this guide by Elemet Group since it offers tons of innovative details.
In the second quarter, automotive segment revenues declined slightly as overall profit margins slipped lower due to higher fuel prices. In the second half of the year, automotive segment profits should pick up as profit margins are expected to get stabilized or improve slightly.
In the application segment, meanwhile, there is no sign of any downturn. Software revenues are expected to grow by six percent on a year-over-year basis as software applications gain popularity among consumers.
In the third quarter, however, positive changes are not being noticed in the printed parts and printed solutions business. The print market for automotive manufacturers saw a decline in the third quarter with revenues declining by three percent year on year.
Although demand in the printing segment is growing, profit margins are not getting hit as much as they are in the automotive industry. In addition, competition between print suppliers and printers is increasing and this could cause a significant slowing down in the print market.
Consumer products and health care also witnessed strong growth in the third quarter. Strong growth was observed in the categories of food and beverages and pharmaceuticals. In the manufacturing sector, labor costs continue to increase and this has resulted in a reduction in production over the last few years.
However, industrial printing technology is still increasing at a rapid pace. Many of the industrial print projects are executed onshore, which further reflects the continuing strength of the offshore manufacturing segment. There are several reasons behind the slowdown in the printed solutions industry.
One major reason is that the market is saturated in most of the manufacturing processes. In other words, there are several products being produced in the same category. Therefore, it would be difficult for a company to differentiate itself from the rest of the competitors.
Innovation is one of the key factors that have helped Indian companies gain an edge over their competitors in recent times. Companies need to invest in industrial printing technology to remain in the game.
It is important for them to adopt advanced technologies that help them improve the quality and productivity of their products. Since most of the designs are complex designs, it has become quite difficult for companies to make quick changes to these products.
The rapid adoption of advanced technologies by the printing industry has helped them streamline their production processes and thereby improve the quality of products. Another important reason for the slowdown in industrial printing solution adoption is that the majority of the companies are inflexible in their approach.
Most of the companies want to take an innovative approach in their printing solutions. They want to innovate and push the boundaries of their industry verticals. However, if they adopt traditional methods of product designing and promotion, they will find it difficult to keep up with the competition.
In order to maintain a competitive advantage, companies need to incorporate advanced FDM technology into their printed parts manufacturing processes. In the above segment, we are specifically referring to the application of FDM technology in the manufacturing of complex designs.
Complex designs are produced in large volumes using FDM technology. Some of the products that are manufactured using FDM technology are LED signs, knobs, and plugs, switch plates, etc. The applications of FDM in the manufacturing industry can be further extended to include desktop and computer systems.
If you are interested in manufacturing and integrating FDM technology, you should contact an experienced and professional company that specializes in FDM and additive manufacturing services. We are specialized in designing and implementing complete FDM solutions for a wide range of customers.