Haier set for 3D printing technology

Haier Inc, the biggest household appliance maker in China, is entering the 3D printing industry to improve product quality, said a government official.

The Shandong-headquartered conglomerate is developing additive manufacturing –– also known as 3D printing –– applications, according to Zhang Xinqi, mayor of Qingdao.

Zhang did not disclose Haier's investment in the technology.

"The 3D printing industry needs government support because the cost of implementing such technology in China is high," said Zhang.

Revenues for the 3D printing industry in the country are likely to hit 10 billion yuan ($1.6 billion) in three years, making China the world's No 1 market for the technology, Luo Jun, CEO of the Asian Manufacturing Association, said earlier this week.

However, industry experts from the United States and Europe said it may take longer for China to grab the top position because other countries are also adding investment in the industry.