Product Launches and Developments were the Major Strategies Adopted by Players to Increase their Share in the Selective Laser Sintering Equipment Market
The selective laser sintering (SLS) equipment market is estimated at USD 339.5 million in 2018 and is projected to reach USD 947.4 million by 2023, for both equipment and material, growing at a CAGR of 22.8% from 2018 to 2023, whereas the market for equipment, inclusive of SLS and DMLS, is projected to grow at a CAGR of 27.5% during the forecast period. 3D Systems Corporation (US) and EOS GmbH (Germany) dominated the SLS equipment market in 2017.
Product launches and developments were the major strategies adopted by players to increase their share in the SLS equipment market in 2017. The companies have adopted the strategy of product launch and development to expand their geographic reach and enhance their product portfolio. For example, in June 2018, 3D Systems launched DMP Flex 100 and DMP Dental 100 3D printers for entry-level metal 3D printing and dental applications. Additionally, EOS introduced FORMIGA P 110 for industrial 3D Printing with polymers, which offers increased productivity of up to 20%, along with more homogeneous part quality during the same time. In February 2018, Farsoon Technologies, along with BASF, launched a new polyamide (PA)-based 3D printing material solution (Ultrasint PA6 X043 Black) in China. The material can produce components with optimized shapes, reduced weight, and with the ability to withstand tough environments.
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3D Systems Corporation is among the leading players in the SLS equipment market. It intends to follow the continuous product development approach to enhance its position in the SLS equipment market. The company is pursuing a strategy focused on offering a comprehensive ecosystem that provides solutions aimed at healthcare, dental, aerospace, automotive, and durable goods verticals to address professional and industrial applications. Product launches, partnerships, and collaborations are among the key strategies adopted by the company for business expansion and technological advancements in product offerings. The acquisition of Vertex- Global Holding B.V. (Netherlands) in January 2017 expanded its product portfolio of dental materials worldwide.
Additionally, EOS is another key player operating in the SLS equipment market and has positioned itself as a provider of complete solutions instead of being just a supplier of machines. It is one of the leaders in additive manufacturing through laser sintering technology; this makes it a tough competitor in the SLS equipment market to other leading companies, such as 3D Systems. The company further offers an extensive portfolio of 3D printing materials (plastics and metals), which strengthens its position as a key provider of these materials. Its strong geographic presence through the globally spread distribution channels provides it a wide scope to tap the unexplored markets across the world. Also, in May 2017, EOS GmbH entered into a strategic collaboration with Incodema3D (US) to enhance the capabilities of its metal 3D printers.
Related Reports:
Selective Laser Sintering Equipment Market by Material (Metal, and Nylon), Application (Tooling, heavy equipment & machinery, and Robotics), Industry (Consumer Goods, Automotive, Medical Devices), Laser Type, and Geography Global Forecast to 2023
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