Duong Van Thai, founder of 3D Thinking: "Printing" the future in his own way

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Duong Van Thai, founder of 3D Thinking.

Mechanical Engineer Finds a Way in a Niche Market

Graduating with a degree in mechanical engineering, Duong Van Thai left his hometown for Hanoi and started his career at a design company. A year later, he turned to freelance work, collaborating with many foreign companies in the field of mechanical product design. After three years of experience, in 2018 he officially started his business with 3D Thinking - a small company specializing in designing mechanical products for foreign customers.

In the early days of starting up, 3D Thinking had only four members working in a rented room of a few dozen square meters. No workshop, no warehouse, no equipment, they only had passion and the spirit of "doing it for real, learning it for real". "Our first customers were a few small companies in the US, they helped me understand that quality is the only way to survive", Mr. Thai said.

However, in 2020, the Covid-19 pandemic caused foreign factories to temporarily stop operating, orders dropped to zero. Facing the risk of closure, Mr. Thai chose a bold direction: Switching to distributing and supplying 3D printing equipment - a very new field in Vietnam.

I always believe that in crisis there is opportunity. If you dare to step forward and dare to do, then technology is not a barrier, but a door.
- Duong Van Thai, founder of 3D Thinking

“The biggest difficulty was overcoming my own fear,” the founder born in 1990 recalled. He sold wedding gold and invested more than 200 million VND to import the first batch of 3D printers. At that time, the market only had 2-3 companies, so there was enough room for Mr. Thai’s fledgling business. However, unfortunately, the shipments were slow to sell because the imported products were too expensive, up to nearly 20 million VND per machine. From this setback, the founder proactively adjusted his strategy, switching to popular machine lines priced at only 3-4 million VND, more suitable for Vietnamese customers.

Up to now, Mr. Thai confidently said that 3D Thinking has been in the top prestigious 3D printer distribution brands in the Vietnamese market. The business is actively sought out by many customers, which can be divided into some basic groups.

First are individuals who love 3D printing products and explore and produce them themselves.

Second, international schools, and some public schools, need to use 3D printers for Steam subjects.

Third, some companies use 3D printers to print prototypes before mass-producing products. Some companies import 300-400 3D printers from 3D Thinking to create their own small-scale manufacturing facility.

According to Mr. Thai, normally, if producing a large quantity of about 1,000 products, companies need to make molds - one of the steps that costs a lot of money, then they can mass produce. However, if producing a small quantity, making molds may not be cost-effective, instead, the company uses 3D printers to produce a few hundred products. Currently, 3D Thinking not only sells 3D printers, but also expands to a number of new lines such as 3D scanners, and recently personal laser engraving machines. In addition, the startup also provides 3D design and printing services to customers.

Compete confidently with brains

After 5 years of reorientation, 3D Thinking has grown from a small office into a business with a systematic system of departments, a 3D printing workshop, a material warehouse and a team of professional engineers. The Company's engineers all graduated from the University of Science and Technology and the Hanoi University of Industry - a foundation that helps them confidently compete with technical quality.

“Anyone can sell 3D printers, but we have a team that understands the technology and is capable of providing maximum customer support,” Mr. Thai shared. This is what has helped many businesses continue to trust and maintain cooperation with startups from 2020 until now. Some businesses have even tried switching to other suppliers, but then they still returned to 3D Thinking.

According to data from Research and Markets, the global 3D printing market reached a size of 16.75 billion USD in 2022 and is expected to grow more than 23% annually until 2030. In Vietnam, the market size only reached about 140 million USD in 2024, but is forecast to exceed 700 million USD by 2033. With this growth rate, the opportunity for pioneering businesses like 3D Thinking is huge - especially when the demand for 3D printing applications has spread to the fields of education , research, healthcare and rapid component manufacturing.

As for the founder, he noticed that the 3D printer market in Vietnam has seen increasing interest from individuals and businesses, and some families have even started buying 3D printers to support their children's learning, even though the children are only 5-6 years old.

The potential of a developing market like Vietnam helps 3D Thinking grow continuously. Up to now, the startup has completed its annual revenue plan and has just opened a branch in Ho Chi Minh City, a market that Mr. Thai considers more dynamic and "willing to spend" than Hanoi. "There are businesses that transfer hundreds of millions to order machines without ever meeting us in person. That is the trust that I really appreciate," he said.

However, Mr. Thai does not hide his worries about fierce competition from Chinese enterprises, rivals with advantages in capital, technology and willing to take losses to capture the market. "The market changes quickly, so the only way is to be flexible and eventually find a way out," he explained.

Looking back on his 7-year startup journey, Duong Van Thai considers the difficult days as the “valuable foundation” of 3D Thinking. He still maintains the habit of personally training the design team every month. “Technology changes every day. A printer that was ‘hot’ last year has a new version this year. If you don’t update, you will be left behind,” the founder shared.

Source: https://baodautu.vn/duong-van-thai-nha-sang-lap-3d-thinking-in-tuong-lai-bang-loi-di-rieng-d413132.html