Innovation is the name of the game when it comes to business growth. Whether it’s AI, quantum computing, or dynamic pricing, a thriving enterprise knows that understanding groundbreaking ideas is critical to its survival, but finding an economical use for new technologies can take time.
Take 3D printing, for example. Even though it was invented 40 years ago, many consumers still see it as a novelty. Yet manufacturing engineers are already using it at a large scale, discovering new and practical applications across various industries.
The Many Dimensions of 3D Printing
3D printing is changing the production landscape, rapidly growing from small-scale prototyping to large-scale manufacturing as a way to bring innovation, flexibility, and agility to manufacturing at large. Two industries can be highlighted here which are relying on 3D printing solutions to scale their operations and enter the new age of industrial manufacturing.
Medicine is one such field where 3D printing is revolutionizing the possibilities of customized prosthetics and implants, and providing a range of solutions for surgical planning and product testing. Companies like UNYQ stand out with their range of personalized prosthetic options, which provide both functional and aesthetically appealing covers to match the client’s needs. Mayo Clinic similarly produces 3D-printed patient-specific anatomical models, thus facilitating preoperative planning and improving surgical outcomes. Organovo, a bioprinting company, has patented a technology capable of printing functional human tissue for pharmaceutical testing and potential organ replacement therapies. With DemeTECH, a Miami Lakes-based company, 3D printing is being used to produce small batch samples of medical products for FDA testing, thus making the approval and screening process more cost-efficient, and expediting the product’s release to market.
Packaging is another area where 3D printing is allowing businesses to reduce costs and bolster product differentiation by creating customized and sustainable packaging solutions that pair cost efficiency and reduced material waste with creative and intricate design patterns. Packlane is leading the charge in this department with their 3D-printed and customer-designed packages. The same is the case for Miami-based Captive Containers, which is servicing the food and beverage industry by designing custom bottles for clients wanting to produce short-run, test-ready samples.
These names above are just the tip of the iceberg in a sea of companies that are contributing significantly to the advancement and accessibility of this technology by manufacturing 3D printing equipment. Companies like Stratasys, 3D Systems, and EOS offer a wider range of best-in-class printers for various industries including aerospace, automotive, and healthcare. Ultimaker, meanwhile, focuses on desktop 3D printing, producing user-friendly FFF (Fused Filament Fabrication) printers catering to professionals and enthusiasts for prototype and small-scale production. HP Inc. and Desktop Metal are two additional leading brands offering industrial-grade 3D printers capable of high-volume production for manufacturing, consumer goods, and prototyping.
The Future of 3D Printing
At First American Bank, we have been keeping our ear to the ground and paying close attention to the development of 3D printing as a force to be reckoned with in the current business landscape. That is why we partnered with the University of Miami to bring the next generation of 3D printers and foster innovation and growth in the manufacturing field. UM has been a leader in innovation and has experience through the UM College of Engineering's Johnson & Johnson 3D Printing Center of Excellence Collaborative Laboratory, a recently opened hub that is intended to support joint research, materials development, and testing of 3D printing technologies and processes. Bringing together university faculty and students, researchers will have access to state-of-the-art 3D printing technology and will have the chance to collaborate with J&J engineers and scientists.
Revolutionize Your Manufacturing Business With Us
At First American Bank, we understand that 3D printing is transforming the manufacturing industry by enhancing production efficiency, reducing waste, and enabling rapid prototyping. As manufacturers increasingly adopt this cutting-edge technology, it becomes essential to partner with a financial institution that truly understands the unique needs of the industry. We have been financing equipment for manufacturers for over 40 years, supporting businesses through technological advancements. With a strong commitment to being at the forefront of innovation, First American Bank is well-equipped to finance 3D printing and other new technologies, helping manufacturers stay competitive and thrive in an evolving market.
About First American Bank
First American Bank is a privately held multi-state full-service community bank. Having started over 50 years ago as a combination of community banks serving the metro Chicago area, we’ve since grown to become the largest privately held bank in Illinois with 61 locations across Wisconsin, Illinois, and Florida—including Miami—and over $7 billion in assets. Our focus consistently centers on three core values: creating solutions, delivering exceptional customer service, and providing unmatched expertise in commercial banking, wealth advisory, and personal finance solutions.
