HP enters 3D printing market to reinvigorate business

HP has launched an enterprise-focused 3D printer to try and boost its business in that area after traditional printer sales showed a drop in Europe.

The company said its 3D offering is ten times faster than others available on the market, will launch in 2016 and it will be available at price points lower than 'any others in its class', HP's senior vice-president, inkjet and web solutions, Steve Nigro said.

Ramon Pastor, vice president and general manager of HP's large format printing business told The Chronicle: "This speed will really help us put 3D printing in more applications and in more and more cases."

The printer will feature HP's Multijet Fusion technology that can produce 3D parts in full colour and develop advanced forms, textures, elasticity and friction. The parts will also have electrical and thermal properties if the application demands it.

The cost of the printer hasn't been revealed, although analysts expect it to ship for around $10,000 (6,250).

The news comes as Gartner predicts the global 3D printing business to grow substantially in the next two years. The research firm thinks the industry will be worth $4.8bn in 2018 from $1.15bn (930m) where it stood in 2013.

At the beginning of the month, HP announced it would make its PC and printing business a standalone company from its enterprise offering in order to compete better in the market, support customers and partners and 'deliver maximum revenues to shareholders'.

HP CEO Meg Whitman said: ""Our work during the past three years has significantly strengthened our core businesses to the point where we can more aggressively go after the opportunities created by a rapidly changing market."