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Laser Materials Market Study by Application, Segmentation & Regional Analysis over 2019 – 2024
Laser Materials Market
Technological advancements in materials and their properties will further fuel the Laser Materials Market growth. Application of the product in automotive, aerospace and other industrial sectors will escalate the demand for the product over the forecast period.
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Asia Pacific Laser Materials Market held a noticeable market share in terms of revenue, which is expected to grow at a CAGR of 5.5%. The increased expenditure on healthcare will contribute to the regional markets in Taiwan, India, China and South Korea. In Europe, the metals segment is expected to account for the largest market volume of 40.1 kilo tons by 2024 owing to the diverse applications and ongoing research.
Laser Materials market players in the product industry include:
• Morgan Advanced Materials
• GrafTech International
• Asahi Glass Co. Ltd.
• BASF SE
• Corning Incorporated
• Murata Manufacturing Co. Ltd.
• CeramTec GmbH
• Taishan Fiberglass Inc.
• Evonik
• The Dow Chemical Company
• Universal Laser Systems Inc.
• Anglo American plc
• Mitsubishi Chemical Holdings Corporation
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Laser materials market by application:
• Communication
• Materials Processing
• Medical & Aesthetic
• Instrumentation & Sensors
• Lithography
• Optical Storage
• R&D & Military
Entertainment category has also experienced significant positive change due to the laser light shows, projection TVs, etc. Communication sector is estimated to grow with a decent rate of 5.3%. Shifting toward wireless networks and increased voice demand will propel the laser materials market.
Application of glass for laser materials is estimated to grow at a significant rate of 7.7%. Manufacturers are exploring techniques to use plastics and ceramics for making semiconductor parts, circuit boards, etc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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