The overall selective laser sintering equipment market, inclusive of equipment and material, is expected to grow from USD 339.5 million in 2018 to USD 947.4 million by 2023, at a CAGR of 22.8% during 2018 - 2023.
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Driver: Reduced manufacturing cost and time to market
A wide range of 3D printing technologies are being used to develop prototypes for use across industries¡ªfor instance, filament-based fused deposition modeling (FDM) that creates plastic prototypes; laser-curing processes that make parts from photopolymer resins; and powder bed fusion machines that produce fully dense metal and plastic components. Among these technologies, selective laser sintering (SLS) and direct metal laser sintering (DMLS) can cut costs through accelerated production; reduced tooling costs and work in process; less waste; and parts that remain strong despite being lightweight. Several companies are consuming SLS-printed end-use parts. For instance, Lockheed Martin (US) uses over a dozen 3D-printed waveguide support brackets in its Juno spacecraft that is currently in orbit around Jupiter. Also, Raytheon (US) uses 3D printing for its rocket engines, fins, and control system components as well, which are used for guided missiles. Similarly, Activated Research Company (US), to develop a radical new design for its Polyarc gas chromatography catalytic microreactor, has used DMLS technology for 3D printing. This has helped the company bring its product to market in just about 15 months. Boeing (US), in 2016, built the largest 3D-printed fixture that was used in the construction of its globally renowned 777 airplane. This helped Boeing cut down manufacturing costs by weeks rather than just a few days. SLS printing allows for the accurate production of robust end-use parts. Objects printed using durable white nylon, for example, can be produced with high details with +/−0.005¡å accuracy in all directions. Hence, the use of SLS technology is helping companies¡ªfrom automotive to aerospace¡ªaround the globe bring down their manufacturing costs and decrease time to market.
Restraint: Difficulties in using SLS printing software
Software used for designing the product has a vital role in SLS printing. The most common software used is computer-aided design (CAD), which shows a virtual 3D model of the product. SLS technology-based 3D printing process, which requires CAD data, involves fusing nylon particles layer by layer with a high-power laser to create a robust, functional part with outstanding mechanical properties. 3D CAD data is first converted into an STL file for processing. Many manufacturers or end-user industries still lack the knowledge required for using 3D printing software, thus making the use of these software solutions difficult for them. As a result, such manufacturers have to rely on external SLS printing service bureaus for specific production part requirements. This creates a problem in the design phase, thereby complicating the process of manufacturing. Also, high software price adds to the overall cost of production. Moreover, CAD software has some limitations. Users find the creation of complex shapes difficult with the use of CAD, which limits the use of 3D printers in general.
Opportunity: Emerging applications in manufacturing sector
SLS has been in the market for long; it was a patented technology until 2014. Since 2015, there have been considerable advancements in the technology, and SLS-based equipment has evolved. The industrial usage of SLS equipment has also increased and improved in the past 3 years. There have been several advancements in printers and printing technologies, and printing materials, and developments in the skill set of the workforce. Additionally, the market for metal-based SLS equipment is expected to grow in the near future. This is due to the growing use of metal-based printers across aerospace and medical devices industries. Within the medical devices or healthcare industry, SLS equipment is expected to be used for the 3D printing of surgical instruments. Moreover, automotive industries in several regions, especially Europe, are witnessing rapid growth. The market for vehicle production, including passenger cars and commercial vehicles, grew at a CAGR of 6.34% between 2009 and 2016. With the increase in the production rate of automobiles, the capacity gap in accessing appropriate tooling is likely to increase in the coming years. The increasing adoption of 3D printing technology by existing tool suppliers to maximize their production capacities is further expected to boost the 3D printing market for automotive tooling.
SLS equipment market in APAC to grow at highest CAGR during forecast period
The SLS equipment market in APAC is expected to grow at the highest CAGR during the forecast period driven by the increasing adoption of SLS equipment in several verticals, such as consumer goods, aerospace, automotive, healthcare, and jewelry. The rising adoption of SLS equipment and materials would further boost the penetration of SLS equipment across APAC. The major contributors to the market in APAC are Japan and China. China has a huge potential in terms of SLS 3D printing applications and is also the fastest-growing market in APAC. However, North America held the largest share of the SLS equipment market in 2017 owing to the technological advancements and growing adoption of technology in a vast range of industries in this region.
Major players in the SLS equipment market include 3D Systems Corporation (US), EOS GmbH (Germany), Farsoon Technologies (China), Prodways Group (France), Formlabs, Inc. (US), Sinterit sp. z o.o. (Poland), Renishaw Plc. (UK), Sintratec AG (Switzerland), Sharebot S.r.l. (Italy), Natural Robotics (Spain), Ricoh Company, Ltd. (Tokyo), Z Rapid Tech (China), Concept Laser GmbH (Germany), Aerosint (Belgium), XYZ Printing, Inc. (Taiwan), Dynamic Tools (Spain), Aspect Inc (Japan), and Red Rock SLS (Russia).
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