As 3DPrint.com Macro Analyst Matt Kremenetsky has pointed out, the world is currently experiencing a manufacturing boom related to global re-shoring efforts. In the U.S., this has led to some interesting headaches and opportunities for those aiming to build new facilities. Farsoon, a Chinese leader in laser powder bed fusion (LPBF) 3D printers, is one benefactor of this growth. Two months after its initial public offering on the Shanghai Stock Exchange STAR Market, the additive manufacturing (AM) company has held a ground-breaking ceremony for its new R&D and manufacturing headquarters.
Located in Xiangjiang New District, the new site is located just 10 minutes from the current Farsoon campus. Covering 20.1 acres of land, the facility itself will feature 140,000 square meters (about 1,510,000 square feet) of gross floor space. With the first phase of construction expected to be complete in 2024, the site will act as an umbrella for its Research & Development, Application Hub, Machine Manufacturing, Innovation Laboratory, Integration factory and Service Center divisions.
“Additive manufacturing is playing an increasingly vital role in many industries. Farsoon Technologies has laid out a plan for pushing true manufacturing with plastic and metal [LPBF] technology,” says Dr. Xu Xiaoshu, founder & CEO of Farsoon Technologies, “With the completion of the new headquarter we will keep building credibility by introducing innovative industrial solutions that meet the demand of the market.”
Farsoon may be feeling the competition from local LPBF firms, who have followed in the company’s footsteps of extending beyond its national borders to sell machines to Europe and the U.S. In particular, Bright Laser Technology (BLT) has grown at an extreme pace, boasting a year-over-year revenue increase of 66 percent. Meanwhile, BLT is expanding its own 3D printing factory space.
At least internationally, Farsoon has previously been seen as the leading supplier of LPBF equipment from China. Now, however, it has the likes of BLT, EPlus3D, and Hanbang 3D Tech Co. vying for the U.S. and European, not to mention the Asian and Middle Eastern, markets. Historically, German, and later U.S., manufacturers have been able to sit securely as the primary providers of LPBF equipment. If you take a look at our recent PRO article on the world of Chinese LPBF, you’ll see that that may no longer be the case.