HP Inc. (HPQ – Free Report) recently announced the collaboration with Legor Group SPA to tap the growing opportunities in the jewelry and fashion accessories industry with its innovative 3D printing solutions. Italy-based Legor is a metallurgy and chemistry specialist in producing best-in-class alloys, powders and plating solutions for jewelry and fashion accessories.
Under the latest partnership agreement, Legor will develop innovative precious metal materials for HP’s Metal Jet 3D printing system. With this alliance, Legor has become the first company to produce specialty precious metal materials designed to work with HPQ’s 3D metal binder jet platform.
Initially, the two companies plan to focus on enabling the production of functional stainless-steel accessories for the jewelry and fashion market. At the same time, they will conduct rigorous research & development at Legor 3DMetalHub in Bressanvido, Italy on developing bronze and silver powders and eventually gold powders.
HP revealed that it would showcase the latest Metal Jet parts at several global additive manufacturing industry events, including the upcoming Additive Manufacturing Users Group event to be held in Chicago from Apr 3 to Apr 7. Also, the company plans to hold a Metal Jet session on Apr 4 at 4:30 pm Central Time.
The 3D printing technology is seeing a surge in popularity among major industries. With the robust adoption of technology among major industries like aviation, healthcare and energy, this business is gaining serious traction slowly but steadily trickling down to other industries as well.
HP has been gaining traction in the 3D printing market, driven by its innovative and expanding portfolio. To satisfy premium industrial customers, HPQ collaborated with various companies like BMW, Nike and Autodesk to develop more advanced 3D printing technologies for a wide array of industrial use.
Therefore, the HP Metal Jet is an important solution for the company due to the rising demand for these kinds of 3D printing systems. Per the latest Grand View Research report, in 2021, the global metal 3D printing market was worth $3.52 billion and is expected to witness a CAGR of 23.9% from 2022 to 2030.
The HP Metal Jet 3D printing system aids the cost-effective high-volume manufacturing of production-grade metal parts. Along with this, the Metal Jet Production Service allows customers to quickly imitate new 3D part designs, produce the final parts and incorporate the HP Metal Jet into their future production plans.
Zacks Rank & Stocks to Consider
Currently, HP carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader technology sector include Jabil (JBL – Free Report) , Broadcom (AVGO – Free Report) and Apple (AAPL – Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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