PUBLISHER: The Business Research Company | PRODUCT CODE: 1414562
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414562
“Selective Laser Sintering Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on selective laser sintering market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for selective laser sintering? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The selective laser sintering market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Selective Laser Sintering (SLS) is an additive manufacturing (AM) process designed to fuse small particles of polymer powder into a solid object based on a three-dimensional (3D) model. This method is employed to create durable plastic components for low-volume production and prototypes.
The key components of selective laser sintering encompass hardware, software, and services. Software, in this context, refers to computer programs and algorithms utilized to control and optimize the SLS process. Laser types utilized in this process include solid lasers and gas lasers, constructed from materials such as metal and plastic. These lasers find application in various industries, including automotive, aerospace and defense, healthcare, electronics, and others.
The selective laser sintering market research report is one of a series of new reports from The Business Research Company that provides selective laser sintering market statistics, including selective laser sintering industry global market size, regional shares, competitors with a selective laser sintering market share, detailed selective laser sintering market segments, market trends, and opportunities, and any further data you may need to thrive in the selective laser sintering industry. This selective laser sintering market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The selective laser sintering market size has grown exponentially in recent years. It will grow from $2.37 billion in 2023 to $2.91 billion in 2024 at a compound annual growth rate (CAGR) of 22.5%. During the historic period, the growth can be attributed to several factors, including the globalization of retail chains, a heightened focus on loss prevention, efforts to reduce labor costs, improvements in efficiency and speed, initiatives to enhance customer experience, and a decrease in checkout errors.
The selective laser sintering market size is expected to see exponential growth in the next few years. It will grow to $6.17 billion in 2028 at a compound annual growth rate (CAGR) of 20.7%. The anticipated growth in the forecast period can be attributed to various factors, including the adoption of hybrid checkout solutions, the implementation of omnichannel retailing strategies, expansion into emerging markets, a growing emphasis on environmental sustainability, and customization tailored to the specific needs of retailers. Major trends expected in the forecast period encompass remote assistance and monitoring, integration with mobile technologies, the promotion of contactless and cashless transactions, the utilization of data analytics for customer insights, and seamless integration with loyalty programs.
The anticipated growth in the selective laser sintering market is fueled by an increasing demand for consumer electronics. Consumer electronics, encompassing smartphones, tablets, laptops, TVs, gaming consoles, and wearables, are personal electronic devices witnessing a surge in demand. Selective laser sintering plays a pivotal role in the manufacturing processes of consumer electronics, including smartphones, laptops, and wearables. Notably, Canalys reported a 3.7% year-on-year increase in smartphone shipments in North America in May 2022, with Apple experiencing a 19% growth and securing a dominant market share of 51% in Q1 2022. The rising demand for consumer electronics is a significant driver propelling the selective laser sintering market.
The growth trajectory of the selective laser sintering market is influenced by the rise of 3D printing services. 3D printing services refer to businesses or providers offering the capability to create three-dimensional objects based on digital models. The increasing prevalence of 3D printing service providers offering Selective Laser Sintering (SLS) capabilities makes this advanced technology more accessible to various industries without the need for substantial upfront investments. Projections from a Netherlands-based software company, Wevolver, indicate a 21% increase in global 3D printer growth, reaching $18.3 million in 2022. This surge in 3D printing services contributes significantly to the expansion of the selective laser sintering market.
A noteworthy trend in the selective laser sintering market is the adoption of advanced 3D printing technologies by companies aiming to maintain their market positions. Companies operating in this market are launching innovative 3D printers to sustain competitiveness. For example, in November 2022, India-based Wipro 3D introduced the Wipro 3D F300-2 printer, operating on Fused Filament Fabrication (FFF) technology. This printer offers high-quality 3D printing and incorporates advanced features such as a magnetic print bed, automatic platform leveling, dual filtration, and a self-cleaning nozzle. The inclusion of IoT-enabled dual nozzles allows for control and monitoring capabilities over the internet through various devices.
Major companies in the selective laser sintering market are strategically focused on material development to gain a competitive edge. A notable example is the development of thermoplastic polyurethane (TPU), a versatile polymer belonging to the class of thermoplastic elastomers. TPU combines the characteristics of rubber and plastic, offering unique properties. In October 2023, Italy-based CRP Technology Inc. launched 'Windform TPU,' a rubber-such as material designed for the selective laser sintering (SLS) 3D printing process. This thermoplastic polyurethane boasts exceptional elasticity, flexibility, impact resistance, and softness, with an elongation at break exceeding 400%.
In March 2023, US-based 3D technology printing company Nexa3D made a strategic acquisition, acquiring XYZ printing for an undisclosed amount. This acquisition is pivotal in broadening, diversifying, and enriching Nexa3D's portfolio by incorporating machines from XYZ printing. XYZ printing, a US-based 3D printer manufacturer utilizing selective laser sintering technology, serves a wide range of customers. The acquisition facilitates the integration of technology and distribution services, aligning with the growth trajectory of the selective laser sintering market.
Major companies operating in the selective laser sintering market report are 3D Systems Inc., EOS GmbH Electro Optical Systems, Sinterit sp. z o.o, Farsoon Technologies, Sintratec AG, Renishaw plc, Ricoh Company Ltd., Formlabs Inc., Prodways Group SA, Sharebot S.R.L., Z Rapid Tech, Nexa3d Inc., General Electric Company, Stratasys Ltd., Materialize NV, SLM Solutions Group AG, Concept Laser GmbH, Beijing Long Yuan Automated Fabrication System Co. Ltd., Wuhan Binhu Mechanical & Electrical Co. Ltd., XYZprinting Inc., Ultimaker BV, Sisma S.p.A., Trumpf GmbH + Co. KG, HP Inc., Shining 3D, voxeljet AG, UnionTech, Carbon Inc., Nanoscribe GmbH, Xact Metal Inc.
North America was the largest region in the selective laser sintering market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global selective laser sintering market during the forecast period. The regions covered in the selective laser sintering market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the selective laser sintering market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The selective laser sintering market consists of revenues earned by entities by providing powder bed fusion (PBF) SLS, continuous SLS, binder jetting SLS, and direct energy deposition (DED) SLS. The market value includes the value of related goods sold by the service provider or included within the service offering. The selecting laser sintering market also includes sales of devices made with polyamides (PA), polystyrenes (PS) devices, thermoplastic elastomers (TPE), and polyaryletherketones (PAEK). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.