Laser Materials Market Scope
Due to the invention of laser material there is advent of new form of industrial energy, optical energy, available for the first time in large and controllable quantities. Laser material is witnessing the high growth in recent years due to various reasons like its growing application in the end user industries. Laser materials are used in various application such as metal processing, medical, sensors, lithography and various other. But there are some issues associated with the technicality, along with the high cost pf raw material which is hampering the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | BASF (Germany), Evonik (Germany), Mitsubishi Chemical (Japan), Morgan Advanced Materials (United Kingdom), Saint Gobain (France), CeramTec (Germany), Corning (United States) and Murata Manufacturing (Japan) |
CAGR | % |
Research Analyst at AMA estimates that Germany Vendors will contribute to the maximum growth of Global Laser Materials market throughout the predicted period.
BASF (Germany), Evonik (Germany), Mitsubishi Chemical (Japan), Morgan Advanced Materials (United Kingdom), Saint Gobain (France), CeramTec (Germany), Corning (United States) and Murata Manufacturing (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Universal Laser Systems (United States) and GrafTech International (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Laser Materials market by Type , by Application (Metal processing, Medical, Sensors, Lithography, Optical storage, Anti-missile tanks and Others) and Region with country level break-up.
On the basis of geography, the market of Laser Materials has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In October 2023 ,Resonates announced that it has completed the previously announced acquisition of Memry Corporation and SAES Smart Materials, Inc. from SAES Getters S.p.A., Milan, Italy. Memry Corporation and Smart Materials are recognized leaders in the nitinol supply chain for the medical device industry with operations in Bethel, Connecticut, New Hartford, New York, and Menlo Park, California. Both companies will be rebranded as Resonetics.
In September 2023 IPG Photonics Corporation the world leader in fiber laser technology, will highlight new and innovative laser solutions at The Battery Show from September 12-14, 2023 in Novi, Michigan, USA. The IPG booth will include industry-leading fiber laser sources and automated laser systems for EV battery welding applications
Influencing Trend:
Growing demand for the plastic lasers
Market Growth Drivers:
Growing application in the end user industries such as anti-tank missiles, radar, and electronics sector and Widely used as laser technology in the medical sector
Challenges:
High price of raw materials
Restraints:
Technical issues associated with the laser materials
Opportunities:
Vendors of laser material are introducing products with high storage capacity
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries