Global Selective Laser Sintering Market Overview 2023-2028
The global selective laser sintering market size reached US$ 2.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.1 Billion by 2028, exhibiting a growth rate (CAGR) of 20.8% during 2023-2028.
Factors Affecting the Growth of the Selective Laser Sintering Industry:
- Advancements in Material Science:
The rising research operations are resulting in the production of new materials compatible with selective laser sintering (SLS) technology. These materials are diverse in their properties, ranging from high-strength polymers to advanced metal alloys, and offer enhanced characteristics like improved durability, heat resistance, and finer detail resolution. This expansion in material choices is enabling SLS technology to penetrate various industries, such as aerospace, automotive, healthcare, and fashion. The ability to work with a wider range of materials allows companies to produce more complex and customized products, thereby expanding the scope of SLS applications.
- Demand for Customized and Complex Parts:
The increasing focus on the ability of SLS technology to produce parts with complex geometries, which are otherwise difficult or impossible to manufacture through traditional methods, is bolstering the market growth. This capability is particularly valuable in sectors like aerospace, automotive, and medical devices, where customized, complex components are in high demand. Additionally, the rising utilization of SLS in the medical field to create patient-specific implants and prosthetics is supporting the market growth. The shift towards customization in manufacturing, driven by the need for personalized products, is contributing to the market growth.
- Integration of Industry 4.0 and Digital Manufacturing:
The growing integration of industry 4.0 and digital manufacturing processes in SLS is impelling the market growth. The convergence of SLS with digital design tools, such as computer-aided design (CAD) software, and the incorporation of artificial intelligence (AI) and internet of things (IoT) technologies are streamlining the manufacturing process. This integration enhances efficiency, reduces waste, and accelerates the production cycle. Additionally, the compatibility of SLS with digital workflows supports the growing trend towards on-demand manufacturing and mass customization. The adaptability of SLS to these modern manufacturing processes makes it an attractive option for industries looking to innovate and optimize their production processes.
Request a Sample Report:- https://www.imarcgroup.com/selective-laser-sintering-market/requestsample
Global Selective Laser Sintering Market Trends:
The growing adoption of SLS in the medical and dental fields for creating complex, patient-specific implants, prosthetics, and dental devices is offering a favorable market outlook. This trend is driven by the increasing emphasis on personalized medicine and the need for more accurate and tailored healthcare solutions.
Furthermore, the increasing utilization of SLS in automotive manufacturers for prototyping and production of complex parts is propelling the market growth. The need for lighter, more efficient components and the shift towards electric vehicles (EVs), which often require highly specialized parts, is strengthening the market growth. Moreover, SLS allows the production of parts with intricate geometries and optimized designs that are difficult to achieve with traditional manufacturing methods.
Global Selective Laser Sintering Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are:
3D Systems Inc., EOS GmbH Electro Optical Systems, Farsoon Americas Corp, Fathom Manufacturing, Formlabs Inc., Nexa3d Inc., Prodways Group, Renishaw plc, Ricoh Company Ltd., Sharebot S.r.l., Sinterit sp. z o.o, Sintratec AG etc.
The report segmented the market on the basis of region, type and application.
By Type:
- Metal
- Plastic
Metal represents the largest segment due to its superior material properties, including strength and durability, making it a preferred choice in various industrial applications.
By Application:
- Automotive
- Aerospace
- Defense
- Others
Automotive holds the maximum market share on account of the increasing need for lightweight and durable automotive parts, driving the adoption of selective laser sintering technology in this sector.
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
North America’s dominance in the selective laser sintering market is attributed to the presence of a well-established manufacturing ecosystem, technological advancements, and the rising demand for customized and rapid prototyping solutions.
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Services Private Limited.
134 N 4th St. Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
