Leave it to young entrepreneurs to make a business case for 3-D printing.

Peter Diamandis, co-founder and chief executive officer of X PRIZE Foundation, describes in his book Abundance a near future where resources are plentiful and technological advances have dramatically improved the quality of life for billions. In short, it’s a tribute to positive thinking – and advocates of 3-D printing could play a role in making that happen.

Three-dimensional printing is the process of using a digital model to print out 3-D objects. Theoretically, the 3-D printer, which layers liquid plastic according to digital schematics, can be used to create a range of useful, fun and necessary objects that are limited only by the imagination. Think replacement parts for machines, tools and even other 3-D printers. But before 3-D printing saves the world, it’s giving entrepreneurs a shot at new business ideas.

Some businesses, such as marketing and design firm Pixil Agency, are launching spinoffs to take advantage of the trend. Others are using the technology to power small manufacturing runs and crafting customized products.

“I think business-to-consumer is the biggest opportunity in 3-D printing,” says Nicholas Mohnacky, 27, head of business development at the West Palm Beach, Fla.-based firm, which recently launched a 3-D printing spinoff, Pixil 3D. “Businesses can go to market with their own products. They can rapid prototype them and then [traditionally] mould them or manufacture them themselves in small amounts.”

Pixil 3-D will work exclusively on 3-D printing projects by way of computer-aided design, or CAD, files for clients. Mr. Mohnacky says the company is exploring everything from printing household wares to customized-marketing displays for clients using the technology.

To be sure, 3-D printing has been around for years. Giant companies in the fields of industrial design, athletic-apparel manufacturing and automotive engineering have long used the technology. But as the price has dropped – Brooklyn, N.Y.’s MakerBot Industries, for instance, produces a desktop product that now costs $2,199 – the technology has started to proliferate.

More from Entrepreneur:

• The secrets of viral videos
• Richard Branson on how to use age to your advantage
• 25 tips to punch up your writing
• 5 ways social media can ruin your reputation
• Google's tips for using mobile to market to holiday shoppers

Some entrepreneurs are able to take advantage of the technology – even without the MakerBot device. Alia Hasan, 35, who runs the San Diego-based jewellery studio Archetype Z, sends her digital designs to Shapeways, an online 3-D-print service in New York, which manufactures her jewellery.

“3-D printing has allowed more and more independent designers to create products and sell them directly to customers,” Ms. Hasan says. “Most of what I do would not be possible without 3-D printing.”

Both the Pixil Agency team and Hasan say that 3-D printing drops the cost of production dramatically compared to commissioning traditional factory moulds. Plus, the ability to customize products can command bigger profits and give you a leg up over the competition.

“As the barriers to entry get lower and lower in terms of cost and usability of the machines, the only thing that really sets you apart is how good your designs are,” says Mr. Mohnacky.

But before 3-D printers become the norm, there are problems that need to be addressed. While affordable 3-D printers have improved in quality and reliability, they still can’t print large manufacturing runs without breaking – which makes industrial-scale 3-D-printing operations difficult.

“We’ve had machines blow up in our faces, literally,” says Mr. Mohnacky.

The tech skills needed for the business can also throw up roadblocks. The process requires a lot of expertise in 3-D design, says Jesse Louis-Rosenberg, 26, co-founder of the Somerville, Mass., design studio Nervous System. The Nervous System team handles the design code and files in-house, but not all entrepreneurs can – and hiring third parties to handle the prep work drives up costs.

Yet, as the MakerBot Replicator 2 shows, 3-D printers are becoming increasingly intuitive for end users. That has entrepreneurs like Pixil 3-D’s founder Pedro Ruiz bullish.

“Customization is really what 3-D printing is all about,” says the 29-year-old Ruiz. “We have a problem and we can literally make the solution in a matter of hours. It makes sense for small companies to invest early on and really embrace it now. There are opportunities to be had.”

Copyright © Entrepreneur Media Inc. All rights reserved