New York based 3D printing materials manufacturer Graphene 3D Lab, Inc. has released its quarterly report which shows an increase in revenue of 354% from the period ending on February 29, 2016 from their previous quarter ending November 30, 2015. The company’s dramatic increase in revenue this last quarter further demonstrates the rising potentials and applicability of 3D printing technologies and its various materials.

The company has made waves recently in the investment world by not only announcing a new nylon based 3D printing filament, but by also announcing the launch of their Industrial Materials Division, which will be geared towards the creation of high volume graphene-infused polymers to be used in the automotive, robotics, drone, aerospace, and military industries. The latest division marks the company’s third initiative, in addition to the production and selling of graphene products through the Graphene Supermarket, and the development of high quality graphene based 3D printing materials.

As mentioned, Graphene 3D Lab, Inc.’s quarterly report showed an increase of 354%, which in actual dollars means an increase from $58,369 in November 2015 to $265,271 in the quarter ending February 29, 2016. In addition to its noted market growth, the 3D printing materials company has also announced that it has received approval to move ahead on its next research and development in collaboration with an unspecified Fortune 500 listed manufacturer.

As Elena Polyakova, Co-Chief Executive Officer explains, "We are fortunate to have a world leading R&D team in the graphene and nanomaterial field. Meeting or exceeding all of a client's performance criteria is another example of how we are ideally suited to work with existing manufacturers to assist them with incorporating graphene into their products'"

The company, which has worked to produce conductive graphene based 3D printing filaments to be used in the additive manufacturing of electronics as well as a magnetic 3D printing filament, has also reported that due to high volume demand they have developed a new production reactor that has allowed for a 5-fold increase of production capabilities for its Graphene Oxide and Reduced Graphene Oxide materials.

All in all, it seems that Graphene 3D Lab, Inc. is on the rise both in terms of its innovative materials and technologies and its profitability. To further emphasize this, the company is currently awaiting the approval of 6 U.S. patents, and has sold its products to every Fortune 500 tech company and all major research universities including such notable clients as NASA, HP, Ford Motor Co., GE, Apple, Xerox, Samsung, Harvard University, MIT, Yale, and Stanford University.

Graphene 3D Lab, Inc. is not the only additive manufacturing company to see a rise in profits, as according to a report from A.T. Kearney, the industry as a whole is expected to grow by a compound annual growth rate (CAGR) of 25% from $4.5 billion in 2014 to $17 billion in 2020. Additionally, according to an IDC report, the global spending on 3D printing is expected to grow at a CAGR rate of 27% from $11 billion in 2015 to $26.7 billion in 2019.