Laser Materials Market value poised to grow robustly following the demand from military landscape
Stakeholders expect laser materials processing to play an invaluable role in laser cutting, drilling, micro fabrication and additive manufacturing. The popularity of high-brightness lasers, including disk lasers, fiber and ultra-fast lasers, has further instilled the confidence in stakeholders.
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Research and development activities in novel technology development, modeling and optimization have surged in the past several years. Laser material processing technologies are fueling growth in end-markets owing to penetration of laser applications and reduced cost of laser systems.
Amid the fallout stemming from COVID-19, leading companies are cashing in on the claim that lasers could rev up coronavirus diagnostics. Lasers may help identify viruses by shining a light on a disposable cartridge which collects samples from oral cotton swabs.
Laser materials are poised to help towards the diagnostic, while new scientific evidences may enable health agencies to enhance biosafety measures and derail cross contamination when dealing with COVID-19.
Growth drivers of Laser materials market are -
1. Medical lasers making rapid progress in several new applications
2. Laser based 3D printing and additive manufacturing gaining impetus
3. Burgeoning demand for laser technology in military
4. Enhanced performance of lasers over traditional material processing techniques
Trends in ceramics laser
Of late, ceramic laser materials have set the trend and are profoundly used in high powered laser given that the high power induced thermal ingredients. End-users demand ceramic materials with low dependence of the index of refraction on temperature, low thermal expansion coefficients and low dependence on the optical path temperature length.
Ceramics have become a highly sought-after material in light of developments in ceramization processes which deliver low-temperature synthesis routes. Some of the factors such as lower optical scattering, toughness, higher strength and better laser damage threshold make ceramic materials highly sought-after among end-users.
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Growth opportunities in North America
Stakeholders are likely to cash in on the expanding penetration of laser materials market in North America following the growth in healthcare infrastructure and demand for laser weapons in the U.S. It is worth noting that impressive demand for high-energy solid-state lasers has triggered the penetration of high-power military lasers in the region.
Europe has come up as a favorable investment hub following the traction for metal and ceramics lasers in medical & aesthetics in the U.K., France and Italy. Notably, a notable uptick in healthcare budge has mustered up the confidence of stakeholders vying to boost Europe laser materials market share.
Restraints in the form of high power consumption
Leading companies are gearing to surmount the potential challenges such as high power consumption and high costs associated with laser materials. Moreover, the current pandemic (COVID-19) is likely to dent the growth of the industry.
Laser materials market outlook is likely to be bullish with ceramics gaining impetus across end-markets, while healthcare and military end-use applications becoming major recipients of laser materials.
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