An artificial jaw constructed through 3D technology. Yorick Jansens / AFP
An artificial jaw constructed through 3D technology. Yorick Jansens / AFP

Business

A technology not quite set to stun

The Life: 3D printers are being used to create plastic glasses and toys, and may even be harnessed to replicate dinosaur bones. The technology has interested businesses and universities, but is it ready for primetime among individual consumers?

Neil Parmar

March 27, 2012

Fans of the Star Trek TV and film series will want to call the device a "replicator", although for now, both they and non-Trekkies alike may want to stick with "3D printer."

This technology requires a person to feed it material such as polylactic acid, which is then heated and formed into items such as a plastic glass or containers.

It has been predominantly used by businesses to ensure new designs are produced in-house rather than sent out to pricey fabrication facilities.

Companies in the global power tools market, biomedical sector and after-sales automotive repair industry are also potential buyers within the 3D printer market, where sales are expected to remain less than US$200 million (Dh734.6m) this year.

3D printers could become popular among private consumers this year, as prices drop below $1,000 for some models, according to a technology report released last month by the consultancy Deloitte.

Fancy owning a "fossil"? Paleontologists at Drexel University in the US plan to replicate dinosaur bones using a computer scanner and 3D printer. A six-inch bone would take a few hours to print off, according to news reports.

But there are plenty of drawbacks with this gadgetry for individual buyers.

First, 3D printers are heavy - and expensive. The BFB 3000, which weighs almost 37kg and is pitched for the home, office or classroom, at $4,449 through the retailer Amazon.com. The British manufacturer, Bits From Bytes, claims it can transform drawings from what is known as CAD software into product prototypes, models and trinkets such as small toys. Companies such as Dimension and Objet offer multiple kinds of 3D printers.

But the cost of materials some models may need to create products, including running shoes, remains expensive.

"3D printing has caught the attention of the public but the hype around the technology does not recognise the severe limitations of the concept," warns Deloitte's report. "Anyone expecting the era of the Star Trek 'replicator' may have to wait awhile yet."

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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

UK's plans to cut net migration

Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.

Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.

But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.

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Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

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Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

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