How 3D Printers Could Transform The Energy Industry

2022-05-21 22:39:51 By : Ms. Jacqueline Yang

The potential for 3D printing in the energy industry is gradually becoming clear. After years of encouraging oil and gas majors to adopt the technology for on-site additive manufacturing, printing firms are finally being recognized for their potential in the field.

The global 3D printing market was worth over $13 billion in 2021 and is expected to expand at a CAGR of 20.8 percent between 2022 and 2030. So far, one of the biggest uses of technology has been for medical needs. But as the market rapidly expands, other industries are looking at how the technology might be used to enhance operations.

3D polymer material manufacturers have been making medical devices such as hearing aids, which have a high demand in the U.S. Having perfected the technique of creating several medical devices, 3D printing companies believe that can also add significant value to the energy sector by creating components needed on energy sites. This would decrease the amount of time needed to obtain vital components when they break, as well as reduce the carbon footprint of having to ship these pieces. It also has the potential so solve some of the key supply chain problems energy companies are currently dealing with.

In Scotland, one company saw the opportunity to work in the oil and gas sector thanks to its experiences providing printing services for engineering, aerospace, automotive, and other sectors. Orthogonal has set up an office in Aberdeen, Scotland, where it can partner with several oil and gas companies working in the North Sea. Founder John Niven explains “having operated in the oil and gas sector for many years, I saw a gap in the market for 3D printing services and decided to set-up the business.”

This is not the first company to set up shop near oil and gas operations, with the hope of creating strategic partnerships with energy firms. And energy firms are rapidly recognizing the benefit. In fact, according to a 2021 report, around 83 percent of oil and gas companies surveyed said they were considering using 3D printing or on-demand manufacturing to support their operations. This comes are part of a greater push towards modernization and digitalization in oil and gas, with 87 percent of respondents also demonstrating their interest in robotics and automation.

Related: The Inevitable Decline Of Russia’s Oil Industry

Oil majors, such as Shell and BP, have already begun to adopt 3D printing technologies to deliver parts on-site, quickly. The ability to print a multitude of different parts means that oil and gas firms don’t need to store huge inventories of parts on-site, nor do they have to rely on third-party companies to deliver components. This would once have been thought impossible, but thanks to innovations in 3D printing the technology have become more reliable, delivering parts that can withstand the tough conditions of oil and gas operations.

While 3D printing in oil and gas remains a relatively fringe technology, it is expected to be worth around $32 billion by 2025 and $60 billion by 2030. It is thought that adopting this technology could improve efficiency across operations as well as reduce costs.

And 3D printing isn’t only useful for oil and gas, with more renewable energy firms looking at how to use the technology. For example, a Ph.D. student in the Netherlands recently proposed the possibility of building an electrolyzer using a 3D printer. Electrolyzers are used to split water molecules into hydrogen and oxygen using electricity. If a successful electrolyzer model could be established for 3D printing, it could help save huge amounts of money on traditional manufacturing.

And large-scale projects are already underway in the wind energy industry, with GE planning to print 3D components for wind turbines. GE Renewable Energy released a statement about its research into the potential for the use of 3D printing technologies in its projects, explaining it would “enable GE to 3D print the bottom portion of the wind turbine towers on-site at wind farms.” Which would dramatically reduce transportation costs.

GE established a multi-year relationship with cement major Holcim and 3D printing company Cobod in 2020, launching a research facility in Bergen, New York. The 3D printer is the size of a three-story building and can print turbine tower segments up to 20 meters tall, according to GE. It is thought to be the largest printer of its kind in the world, with the ability to “print in excess of 10 tonnes of real concrete per hour.” It has the potential to encourage other companies to adopt similar technologies to decrease transportation costs and reduce the company’s carbon footprint.

The U.S. Department of Energy provided a grant to support research and the first applications of the components in the field are expected to be seen within the next half a decade.

This is just the start of the 3D printing revolution, as the technology continues to improve, and energy firms better understand the potential of the innovation to provide vital components for their operations. 3D printing will soon become much more commonplace in both oil and gas and renewable energy projects, being used to reduce costs and improve efficiency.

By Felicity Bradstock for Oilprice.com

More Top Reads From Oilprice.com:

Is It Fair To Blame Oil Companies For High Prices?

The Global Energy Shortage Could Be A Boon For Tidal Power

The War In Ukraine Has Stalled Global Efforts To Cut Emissions

Read this article on OilPrice.com

When Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett buys or sells shares of a company, Wall Street and investors tend to pay close attention. Since becoming CEO in 1965, he's overseen the creation of more than $680 billion in shareholder value and delivered an average annual return of 20.1% for Berkshire's Class A (BRK.A) shareholders (himself included).

What happened The ride in Ford (NYSE: F) stock wasn't very smooth on Friday. The big American carmaker saw its shares decline by nearly 3% on a day when the S&P 500 index essentially traded sideways. A ruling from a court overseas was the key catalyst in that deceleration.

The iPhone maker has told some of its suppliers that it wants to boost production outside China, citing Beijing’s strict anti-Covid policy among other reasons, and is giving India and Vietnam a closer look, people involved in the discussions said.

(Bloomberg) -- Most Read from BloombergWalmart’s Troubles Should Have Everyone on High AlertA $5 Trillion ‘Wealth Shock’ Is Cracking Americans’ Nest EggsOne of the World’s Frothiest Housing Markets Turned Into a Seller’s Headache OvernightPutin’s War Means Russia’s Rich Aren’t Welcome at Davos AnymoreElon Musk Gets Defensive Over Twitter Meme as Harassment Report SurfacesDaniel Yergin was at the St. Petersburg International Economic Forum in 2013 when he got a daunting request: Could he pose the

Many tech stocks tumbled over the past few months as rising interest rates and other macroeconomic headwinds sparked a retreat toward more conservative investments. Two of the most resilient names were Apple (NASDAQ: AAPL) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL).

A new report shows how far renewables will count toward filling our energy needs. Is now the time to invest in green energy?

The hydrogen stock shook off last week's weakness as investors found a couple of reasons to buy the stock.

(Bloomberg) -- Most Read from BloombergWalmart’s Troubles Should Have Everyone on High AlertA $5 Trillion ‘Wealth Shock’ Is Cracking Americans’ Nest EggsOne of the World’s Frothiest Housing Markets Turned Into a Seller’s Headache OvernightPutin’s War Means Russia’s Rich Aren’t Welcome at Davos AnymoreElon Musk Gets Defensive Over Twitter Meme as Harassment Report SurfacesAustralia’s AVZ Minerals Ltd. is battling to retain control of what is potentially the world’s largest untapped lithium deposi

It's not too soon for shareholders to start asking tough questions about when to expect operating profits.

Gas prices hit record highs on Friday, as consumers are grappling with soaring inflation.

Ark Investing's Cathie Wood thinks both chains have a problem which could be good for consumers, but maybe not investors at least in the short-term.

China added some downward pressure to oil prices this week when it clearly signaled its intent to buy more Russian oil, oil that the EU is determined to ditch

China is quietly ramping up purchases of oil from Russia at bargain prices, according to shipping data and oil traders who spoke to Reuters, filling the vacuum left by Western buyers backing away from business with Russia after its invasion of Ukraine in February. The move by the world's biggest oil importer comes a month after it initially cut back on Russian supplies, for fear of appearing to openly support Moscow and potentially expose its state oil giants to sanctions. China's seaborne Russian oil imports will jump to a near-record 1.1 million barrels per day (bpd) in May, up from 750,000 bpd in the first quarter and 800,000 bpd in 2021, according to an estimate by Vortexa Analytics.

Natural gas markets have gapped lower to kick off the trading session on Friday, but have also just stayed around the $8.00 level.

(Bloomberg) -- Russia has cut Finland off from its natural gas supplies as relations between the two neighbors sour over the Nordic nation’s decision to join defense alliance NATO.Most Read from BloombergWalmart’s Troubles Should Have Everyone on High AlertA $5 Trillion ‘Wealth Shock’ Is Cracking Americans’ Nest EggsOne of the World’s Frothiest Housing Markets Turned Into a Seller’s Headache OvernightPutin’s War Means Russia’s Rich Aren’t Welcome at Davos AnymoreElon Musk Gets Defensive Over Twi

Gasoline prices will stop rising once consumer demand destruction kicks in, according to one energy trader.

Inflation appears to be touching every part of the economy, and one primary reason is the ongoing supply chain constraints.

A major move to cut Tesla from a closely followed environmental, social and governance (ESG) index brought anger and relief in nearly equal measure.

This week has been a rather disparate one among various Bitcoin (CRYPTO: BTC) mining stocks. Chinese-based cryptocurrency miners and mining-related stocks have outperformed their U.S. counterparts by an incredible degree, due to reports that underground mining operations have made China the second-largest Bitcoin mining market in the world. As of 10:30 a.m. ET today, Hong Kong-based Bit Mining (NYSE: BTCM) rose 54% over the past week, with Beijing-based Canaan (NASDAQ: CAN) surging 9.7% since last Friday's close.

Who joins Microsoft and GOOGL stock on this screen of Warren Buffett stocks based on the investing strategy of the Berkshire Hathaway CEO?