Both methods describe a moving free surface but represent the material differently in numerical terms. A computational mesh divides the domain into connected cells, whereas a mesh-free particle method (SPH) represents material state on moving particles.
Re-meshing a moving surface
A mesh-based method represents the domain with fixed connections between its cells. As the melt pool moves, the cells distort until the mesh has to be rebuilt. Only then can the solver continue the simulation.
Material state on particles
A particle-based method carries material state, such as temperature and momentum, on discrete particles that move with the material. The positions of the particles define the free surface.
Limits of this comparison
This comparison describes two numerical methods and is not a benchmark, because it compares neither runtime, accuracy nor cost of specific software products.
The fixed Eulerian grid
A fixed Eulerian grid with surface tracking (VOF, level set) does not rebuild its mesh. It has to cover the build volume in advance at melt-pool resolution, and the domain grows with every layer.

