The selective laser sintering market registered a CAGR of 24%, over the forecast period. The demand for selective laser sintering equipment is going to be driven by developed countries, owing to the presence of research and development facilities.
– 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. Furthermore, 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.
Scope of the Report
The selective laser sintering market typically comprises 3D printer supplier who use sintering of either plastic or metal powder to create parts and prototypes for various industries. The report cover industries like automotive, aerospace and defense, and healthcare, which are said to benefit the most.
Key Market Trends
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Research and Development in various Industries is going to Fuel the Demand in the Future
– The research and development happening across different industries have 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 being 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 market. 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 the research and development in the region in new and emerging technology is relatively high that helps the region maintain the dominance in the market.
– Moreover, the region has a strong foothold of vendors in the market. Some of them include 3D Systems and Prodways Group.
Selective Laser Sintering Market is Set to Experience a Significant Growth of 24% CAGR from 2022 To 2031
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