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Selective Laser Sintering Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Selective Laser Sintering Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • April 2021
  • 105 pages
  • ID: 6062849
  • Format: PDF
  • Mordor Intelligence LLP

Summary

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The selective laser sintering market registered a CAGR of 24%, over the forecast period (2021 - 2026). The demand for selective laser sintering equipment is going to be driven by developed countries, owing to the presence of research and development facilities in the countries.

- The adoption of laser sintering printers has increased due to the easy availability of metal and non-metal powders to create prototype models and parts. Also, the laser sintering printers are the most precise when it comes to printing metal parts.
- The selective laser sintering technique has shortened the time required for the end products to reach the market, which has resulted in capital savings.
- Also, facilities are opting for laser sintering printers due to additional simplification of process by the reduction in the number of machines required to finish the end product.

Key Market Trends
Research and Development in various Industries is going to Fuel the Demand in the Future

- The R&D happening across different industries has benefited from the progress of the selective laser sintering market, and the automotive sector is expected to continue to be the largest consumer of selective laser sintering equipment in the coming years.
- Industries, like automobile and aerospace and defense, require constant prototyping to study various characteristics. The existing prototyping techniques need more time as compared to laser sintering printers to archive the same level of precision of the model.
- Moreover, the companies are no longer required to create and save the molds for prototyping. Also, any correction to the model can be done instantaneously, due to which selective laser sintering is preferred.

North America is Expected to Hold Major Market Share

- North America is one of the leading adopters of selective laser sintering printers and is considered to be one of the largest markets for selective laser sintering. The demand in North America is mainly driven by a higher focus on innovations through R&D and increased testing in several industries.
- The region has been known to be a pioneer in innovation, due to which the demand for prototyping is high. The investment in R&D, in the region, in new and emerging technology is relatively high for it to help the region maintain its dominance in the market.
- Moreover, the region has a strong foothold among the vendors in the market. Some of them include 3D Systems and Prodways Group.

Competitive Landscape
The market is underdeveloped with only a few players offering commercial solutions. The market is highly consolidated and only a few players hold a significant share of the market. The market is witnessing innovations, which are going to be the driving force for market growth. The major players dominating the market are 3D Systems and EOS GmbH.

- May 2019 - CIDEAS invested in EOS 3D printing technology for large thermoplastic parts. CIDEAS serves companies within a host of vertical markets, including aerospace, healthcare, and consumer products.
- April 2019 - Enoc partnered with Generation 3D to develop a scale model of its current and future facilities. Generation 3D used selective laser sintering 3D-printing technology for this project.
- April 2019 - Formlabs launched its selective laser sintering printer, Fuse 1, which is a low-cost powder-bed machine. The machine is expected to start shipping in the second half of 2019.

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