August 28, 2020
Rising demand for medical & healthcare devices and surging preference for robot building of 3D equipment are the key factors stimulating the growth of global selective laser sintering market. Notably, SLS (selective laser sintering) is an additive manufacturing technology that makes use of laser as a power source in order to sinter powdered material to create a solid structure. Recently developed SLS technique is majorly used for fast prototyping and for manufacturing components in less volume.
According to Statista, advanced robotics manufacturing has been experiencing huge demand and is expected to grow with a CAGR of 46% to reach USD 3.7 billion by the year 2021. Widespread adoption of 3D printing technologies for prototyping across end-used industries is augmenting the market growth. Benefits such as cost reduction by accelerated production, minimization of process work & tooling costs, elimination of wastage, and strong & lightweight products are boosting the demand for SLS.
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On the downside, complicated operation, high risk associated with SLS equipment, distortion due to unusual process controls, and problems related to SLS printing software are expected to restrain the market growth. Despite that, rising applications in across aerospace and medical devices manufacturing will create ample opportunities for market partakers.
Based on type, global selective laser sintering market is segmented into metal and plastic. With respect to application spectrum, the industry is divided into aerospace, automotive, defense, and others.
As per regional overview, worldwide selective laser sintering market is segmented into Asia Pacific, North America, Latin America, Europe and rest of the world. North America held a massive industry share in 2017 and is slated to grow further, owing to technological developments and their consequent adoption across many industries in the region.
Meanwhile, Asia Pacific selective later sintering market is projected to grow rapidly through 2027, due to surging adoption of SLS equipment in several verticals like healthcare, aerospace, consumer goods, automotive, and jewelry.
Key players operating in global selective laser sintering market includes Ricoh Company Ltd., 3D Systems, Farsoon Technologies, Sinterit Sp. z o.o., Sintratec AG, Prodways Group, Formlabs, Concept Laser GmbH, and Renishaw plc.