Global Selective laser sintering (SLS) technology market is projected to grow at a considerable CAGR of around 12% during the forecast period. The increase in demand for 3D printing in aerospace & defense, automotive, medical & dental, and other industrial sectors coupled with the advantage of using SLS technology is the key driver of the market growth. This is due to the fact that the possibility of the customized manufacturing of parts has offered manufacturers to unlock new revenue streams in a variety of applications. Further, reduced prices of 3D printers along with the availability of advanced raw materials including stainless steel powder have made major contributions to the market growth across the globe.
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The aerospace industry was one of the early adopters of 3D printing technology, thus looking towards the huge potential of 3D printing metal technology in the aerospace industry hence, the major aerospace industry players are actively involved in using additive manufacturing technology. For instance, EOS GmbH Electro Optical Systems and Airbus Group had collaborated to design titanium-based 3D printed nacelle hinges that save 40% more fuel than their traditionally manufactured counterparts.
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Moreover, rising investments in R&D activities by government and manufacturing companies are estimated to propel the utilization of metals in additive manufacturing, thereby contributing to the SLS technology market growth. However, high maintenances costs, high energy consumption, and difficulties in using the SLS software are some factors that may restrict the growth of the global SLS technology market. However, the emerging applications of SLS technology in the manufacturing sector to offer significant opportunities for the growth of the global market
Global SLS Technology Market Segmentation
By Material Type
- Polymer
- Metal
- Other (Ceramic and Composite)
By End-User industry
- Automobile
- Aerospace and Defense
- Healthcare
- Electronics
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
