Market research firm Transparency Market Research predicts that the CAGR of the global industrial laser market will reach 4.6% during the period 2017-2026. As a kind of high-speed and high-efficiency processing method for various materials, a wide range of lasers are being demonstrated in various industries. Innovative technologies have emerged as the continuation of the development of industrial lasers, and manufacturers are also introducing advanced industrial lasers into more end-use applications. For example, the continuous breakthrough of fiber laser technology is playing a key role in the development of the global industrial laser market.
The consumer electronics industry is also expected to promote the sustainable growth of the industrial laser market. Various lasers including solid-state, CO2, fiber lasers, and disc lasers are being used on a large scale in various industrial fields.
One of the biggest advantages of fiber lasers is their high reliability and flexibility compared to other types of lasers. Global manufacturers are developing higher-power fiber laser products with nano-scale sensors for better processing results.
Fiber lasers with faster cutting speeds are also becoming more popular in the market.
On the other hand, stringent emission regulations in the oil and gas industry, rising demand for bio-instrument equipment in the medical industry, and increasing demand for sensing instruments have also contributed to the growth of the global industrial laser market.
In the medical industry, with the increasing attention to beauty and skin diseases, it is expected to greatly boost the demand for industrial lasers. In addition, LIDAR (Lidar) sensors made from components such as lasers, sensors, and dedicated GPS receivers are being used in a large number of industries such as automotive, manufacturing, and aerospace.
A look at market challenges
Although industrial lasers have long been used in a wide range of industries, there are still some factors that hinder market development, such as high product installation costs, limited number of suppliers, and various health and environmental issues. In light of this, many laser manufacturers are focusing on the development of laser technologies that are less harmful and show cost advantages. Of course, the research and development of industrial lasers with low power consumption and high processing speed is also one of the core tasks.
Fiber laser technology is gaining momentum
Because of the fast cutting speed and low maintenance costs, fiber laser technology is widely used in all walks of life. Manufacturers also integrate various automated processes into fiber laser systems to simplify the entire process. Fiber laser technology is also suitable for high-quality thick cutting, so this technology has largely replaced CO2 laser processing in core cutting processes such as metal cutting and bending. Manufacturers are also vigorously developing fully automatic fiber lasers that can automatically change the beam pattern based on the characteristics of the materials to be processed. Moreover, the automotive industry is also increasingly using fiber laser systems to efficiently weld airbag triggers, diesel injectors, and marking operations on wheels.
Laser material market overview
Then turn your attention to the laser material market. According to a report released by Research and Markets, the global laser material market will increase from 1.118 billion U.S. dollars in 2017 to 1.489 billion U.S. dollars in 2022, and the annual compound annual growth rate is expected to reach 4.90%, which is mainly based on medical treatment during the forecast period. , Metal processing and other vertical industries caused by the surge in demand. Needless to say, compared with other existing technologies, laser-related processes have become a lightweight, highly efficient and low-cost technology to help the market expand. At the same time, the global laser material market is also driven by many factors such as high R&D investment in various fields, rising demand for Internet services, and digitization of information channels.
The global laser material market is divided into different market segments based on the materials used in laser mechanical and electronic components. Among them, the highest proportion of metal plates is mainly due to a large amount of metal materials used to produce electronic components. During the forecast period, the market size of glass and ceramic products is also expected to increase significantly. The development of ceramic products is due in large part to its use in various semiconductor and non-semiconductor components and circuit boards.
Based on the application, the global laser material market can also be divided into several subdivisions. During 2016-2017, metal processing is the most important market segment. However, in the next five years, medical, electronic and electronic communications, instrumentation, and other industry sectors will also see a significant increase in demand for laser materials in the R&D field; they will also include laser materials for military components such as anti-tank missiles and radar. application.
As far as the end-user industry is concerned, the global laser material market is also divided into sub-divisions. In 2016-2017, the communications market accounted for the highest percentage of all end-user markets, due to the important role played by laser technology in the communications sector. In addition, the use of laser materials in the healthcare market is also on the rise day by day, as the use of laser technology in tattoo removal, cosmetic surgery, and many other medical procedures is becoming more frequent.
Geographically, due to the rapid growth of China's laser market, the Asia Pacific region will become the world's leading laser material market in 2016-2017. This increase is largely driven by the quantum leap and progress of the digital and automation industries, as well as the increasing use of laser technology. In addition, the North American laser market is based on a large amount of investment in the R&D field and cannot be underestimated.