Laser Materials Market Size By Product (Plastic, Glass, Metal, Ceramics), By Application (Communication, Materials Processing, Medical & Aesthetic, Instrumentation & Sensors, Lithography, Optical Storage, R&D & Military), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Aug 2020  |  Report ID: GMI1600  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 250   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Laser Materials Market size was close to USD 1.31 billion in 2019 and will grow at a CAGR of 4.5% from 2020 to 2026. Rising popularity of laser technology in advanced metal processing techniques, medical surgery, and 3D printing along with persistent need for enhanced communication and directed-energy weapons in military & scientific applications will boost the product business during the assessment period.
 

Positive long-term outlook of the healthcare industry has led to an increased potential for advanced medical laser technology in different fields such as cosmetic procedures, oncology, dentistry, aesthetics, ophthalmoscopy, drug delivery, etc. Evolution in the medical sector is the result of demographic shift, increased life expectancy, growing middle-class, aging population, etc., that leads to growing need for medical treatments. For example, in an eye surgery, laser technology has successfully substituted blades in cataract & refractive surgeries.
 

Laser Materials Market Statistics
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In the defense sector, the novel development of High-Energy Lasers (HEL) has shown immense potential in drones and weapons. Manufacturers are developing innovative solutions to further integrate laser technology into military equipment. Emerging applications in security with airborne laser mine detection, anti-missile systems, and target designation will surge the laser materials market demand by 2026.
 

The laser institute of America (LIA) has laid government regulations on laser technology to promote its safe use and assist in taking effective measures to control laser hazards. The improving aviation and automotive industries will drive the growth of laser materials market.
 

Growing demand for enhanced mobility solutions along with surging sales of electric vehicles across the globe will significantly impact the industry growth. It is evident that Japanese vehicle manufacturers use Nd:YAG and Co2 lasers for fabricating power train & body, roof rail welding, and tailoring blanks to gain a competitive edge.
 

Expansion of facilities & sales network is among the major strategies adopted by industry players to strengthen their foothold in the business. Furthermore, the advancement in polymers and composite materials has enhanced the development process of nano & micro devices, making the technology a viable option in any field.
 

However, oscillating raw material prices and feedstocks might hinder the laser materials market growth. Laser technology poses several challenges, such as high upfront cost, high-power consumption, limitation in metal thickness, and dangerous fumes, to end users, which need to be considered.
 

The worldwide Covid-19 pandemic has severely impacted the laser materials market landscape. Coronavirus cases have surpassed 20 million and more than 735,000 have died from the disease. Worst hit nations including the U.S. have surpassed 5.1 million cases, Brazil with more than three million, and India around 2.3 million cases. Demand for end-use products has been severely impacted, limiting market opportunities for laser materials producers.
 

The UK economy suffered its biggest slump as the lockdown measures pushed the economic turmoil. Many producers have suspended or reduced production in the region, thereby affecting 730,000 jobs in the region since the pandemic shuttered businesses.
 

Laser Materials Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 1,315.2 Million (USD)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 4.5% 2026 Value Projection: 1,565.8 Million (USD)
Pages: 250 Tables, Charts & Figures: 206
Geographies covered (21): U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Malaysia, Thailand, Indonesia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa
Segments covered: Product, Application, Region
Companies covered (16): BASF, GrafTech International, Dow Chemical Company, Coherent Inc., Evonik, Aurubis AG, Taishan Fiberglass, Mitsubishi Chemical Holdings Corporation, CeramTec GmbH, Corning Incorporated, Sinopec Shanghai Petrochemical Group, Asahi Glass Co., Universal Laser Systems, Norilsk Nickel, Anglo American, Morgan Advanced Materials, and Murata Manufacturing., etc.
Growth Drivers:
  • Medical lasers making rapid progress in several new applications
  • Laser based 3D printing and additive manufacturing gaining impetus
  • Burgeoning demand for laser technology in military
  • Enhanced performance of lasers over traditional material processing techniques
Pitfalls & Challenges:
  • Regulatory Compliance
  • Fluctuating prices of feedstocks e.g. crude oil, gas etc.

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Superior properties of the product will propel laser material consumption

  Laser Materials Market by Product

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The ceramics materials product segment was close to USD 18 million in 2019 and is likely to grow at a decent growth rate of 6.9% in the overall laser materials market share. Ceramics materials are used in high-powered and solid-state lasers as a replacement to single crystals and glass to generate laser beams owing to its efficient properties such as low thermal expansion coefficient, low optical scattering, low dependence of index of refraction, toughness, and optical path length of temperature.
 

Therefore, ceramics has become a feasible material in laser technology. These materials are generally utilized in the fabrication of semiconductor parts and circuit boards.
 

Materials processing application will accommodate substantial share in the laser materials market

  Laser Materials Market by Application

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In the materials processing segment, the product has wide utility in all types of metal fabrications such as drilling, welding, cutting, and annealing. Materials processing application will foresee average industry gains of 4.5% CAGR from 2020 to 2026. Increasing demand for consumer products and long-term advancements in economies have led to the growing adoption of lasers in manufacturing.
 

High precision requirements make the laser technology efficient in micro drilling, micromachining, and surface cleaning applications. It offers several advantages over traditional material fabrication techniques. For example, in plastic welding, the technology minimizes final product prices by increasing throughput and improving yields. Lasers supplement the growth of the industrial sector by improving the quality of machined part required in manufacturing equipment.
 

Europe is expected to be among leading regional markets

  Laser Materials Market by Region

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The Europe laser materials market will hold a revenue of over USD 285 million in 2026. The massive share is primarily attributed to technological advancements and developed market in this region. Regional governments and industry participants are largely investing in R&Ds to serve their customers. Presence of pre-dominant automobile manufacturing units along with surging demand for commercial aircraft will positively influence laser requirements.
 

Rising healthcare and defense expenditures in countries including Germany, Italy, Russia, France, Sweden, etc., are other factors contributing to regional laser materials market growth. Recently, in Russia, the annual average growth rate of laser material processing equipment import rose to 30%. Strong performance of sectors, such as medical, automotive, aerospace, and food technology.
 

Low-cost production, joint ventures, and geographical expansion are the key strategies

The laser materials market foresees huge potential in the future owing to its widespread utility in almost any industry. Mergers & acquisitions and new product development are key focus of companies. Recently, Coherent, Inc. acquired Nuvonyx, ROFIN-SINAR Technologies, and O.R. Lasertechnologie to move into high-power material processing and enhanced its portfolio. The company has increased its R&D expenditure and focuses on the development of improved technologies & innovate laser solutions.
 

In 2017, the company developed a DPSS laser that transfers 20W at 355 nm, especially used in micromachining. Similarly, the acquisition of Canadian-based, Laser Depth Dynamics by IPG Photonics has expanded IPG’s product portfolio for laser welding applications.
 

Other prominent players operating in the laser materials industry ecosystem include BASF, GrafTech International, Dow Chemical Company, Evonik, Aurubis AG, Taishan Fiberglass, Mitsubishi Chemical Holdings Corporation, CeramTec GmbH, Corning Incorporated, Sinopec Shanghai Petrochemical Group, Asahi Glass Co., Universal Laser Systems, Norilsk Nickel, Anglo American, Morgan Advanced Materials, and Murata Manufacturing.
 

The laser materials market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD million from 2016 to 2026, for the following segments:

By Product

  • Plastic
  • Glass
  • Metal
  • Ceramic
  • Others (Non-metals)

By Application

  • Communication
  • Materials Processing
  • Medical & Aesthetic
  • Instrumentation & Sensors
  • Lithography
  • Optical Storage
  • R&D & Military
  • Others (Display, Printing, etc.)

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE

 

Frequently Asked Questions (FAQ) :

The overall laser materials market acquired a revenue share of USD 1.31 billion in 2019.
As per estimates, laser materials industry would account a crcr of 4.5% through 2026.
These products will depict massive demand in Europe, driven by rising government investments and technological advancements. Europe laser materials market size will be $285 million in 2026.
Russia industry will depict progress owing to expanding regional automotive, food technology, and medical sectors. In fact, recently in Russia, the annual average growth rate of the laser material processing equipment import rose to 30%.
Materials processing application will depict 4.5% CAGR through 2026, driven by the product’s extensive use in welding, annealing, and drilling operations and long-term advancements in developed economies.
The ceramics laser materials market registered USD 18 million revenue in 2019 and may depict 6.9% CAGR through 2026, aided by rising product usage in solid-state and high-powered lasers.
The pandemic has majorly impacted this industry as production units have been shut down and labor shortage is a major issue owing to nationwide lockdowns and rising Covid-19 cases. The U.S. seems to have surpassed 5.1 million cases, while Brazil has over 3 million.

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Premium Report Details

  • Published Date: Aug 2020
  • Pages: 250
  • Tables: 178
  • Charts / Figures: 28
  • Companies covered: 16
  • Countries covered: 21

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