Jan 30, 2017
BP to study impact of 3D printing on oil industry
BP is to study the potentially disruptive impact of 3D printing on oil markets if the rise of small-scale digital manufacturing reduces the need to ship goods around the world. The UK group's chief economist, Spencer Dale, said that his team was planning to look at whether 3D printing could unravel some of the complex global supply chains that have provided a strong source of growth for the oil industry in recent decades. Worldwide sales of 3D printers are forecast to rise from about 455,000 last year to 6.7m in 2020, according to Gartner, the research company, which described the "Rapid transformation" of 3D printing into a "Mainstream technology . . . used to create prototypes, augment manufacturing processes and produce finished products". Any significant impact on oil companies is likely to remain a long way off. In its latest annual outlook last week, BP foresaw global oil demand continuing to grow until the 2040s, with freight transport, especially in Asia, driving much of the expansion.
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