Key Takeaways
- Sandvik, a global materials company, has exited the 3D printing market after approximately 8 years of involvement.
- The company's initial strategy was to leverage its expertise in metals and hard-wearing materials to produce high-value finished items through additive manufacturing.
- Sandvik's partnership with BeamIt, an Italian service bureau, was a key aspect of its 3D printing endeavors, but ultimately ended due to differences in valuation and strategy.
- The company's exit from the 3D printing market is attributed to changes in its executive team, dispersed knowledge, and a shift away from its initial approach.
Introduction to Sandvik's 3D Printing Journey
Sandvik, a renowned global materials company, has recently announced its departure from the 3D printing market. This move marks the end of an approximately 8-year journey, which began in the mid-2010s. Initially, Sandvik's strategy was to harness its expertise in metals and hard-wearing materials to produce high-value finished items through additive manufacturing.
Partnership with BeamIt and Expansion into 3D Printing
Sandvik's partnership with BeamIt, an Italian service bureau, was a pivotal aspect of its 3D printing endeavors. The company acquired a significant stake in BeamIt in 2019 and subsequently collaborated on various projects, including the creation of joint ventures, qualification of materials, and production of parts for the aerospace and semiconductor industries. The partnership also led to the acquisition of finishing solution Proxera and other companies.
Comparison of Sandvik's 3D Printing Partnerships
| Partnership | Year | Industry/Project |
|---|---|---|
| BeamIt | 2019 | Aerospace, Semiconductors |
| Proxera | 2020 | Medical and Dental 3D Printing |
| Renishaw | 2020 | Mining and Industrial 3D Printing |
| Immensa | 2020 | 3D Printing in the MENA Region |
| GSD Global | 2020 | E-Bike Parts Production |
Challenges and Exit from the 3D Printing Market
Despite initial success and a well-defined strategy, Sandvik's 3D printing endeavors ultimately faced challenges. Differences in valuation and strategy between Sandvik and BeamIt led to a drift and eventual break in their partnership. Changes in the executive team also contributed to the dispersal of 3D printing knowledge and a shift away from the company's initial approach. In 2024, Sandvik sold its stake in BeamIt, marking a significant turning point in its 3D printing journey.
Bottom Line
Sandvik's exit from the 3D printing market serves as a reminder that even well-established companies with a clear strategy can face challenges in this rapidly evolving industry. The company's experience highlights the importance of maintaining a consistent approach and leveraging core expertise to drive success in additive manufacturing. As the 3D printing landscape continues to evolve, it will be interesting to see how other companies navigate the opportunities and challenges presented by this technology.