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Laser Plastic Welding Market : Analysis and Forecast upto 2025
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In a new study, TMR has pegged the global laser plastic welding market’s valuation at US$758.9 mn in 2016. Reporting a positive CAGR of 8.3%, the overall market is likely to reach US$1,543.2 mn by the end of 2025. Holding the dominant 42% of the global laser plastic welding market, Asia Pacific emerged at fore in 2016. Besides this, TMR forecasts sustainable growth for the market in North America. During the course of the forecast period, Europe is likely to offer lucrative prospects for the market’s growth. Among end-use industries, the application of laser plastic welding is expected to remain high in the automotive sector. In addition, the rising demand from the healthcare industry will enable the market gain impetus in the coming years.
From laboratory studies to getting used in diverse industrial applications, laser plastic welding has transitioned promptly as manufacturers became familiar with the technical advantages it offers. The technology enables producing superior weld joints, which is a key factor aiding its increased application over the years. In addition, the plummeting cost of equipment used for laser welding has accelerated its acceptance across industries. Meanwhile, the spree of adopting through transmission laser welding is accelerating, in process paving way for the market’s splendid future. Using laser plastic welding ensures highest quality weld joints, besides enabling users derive the benefit of simplest joint designs. These are few of the intrinsic qualities, which has made the technology highly attractive. While implementing through transmission laser plastic welding require a proper learning curve, besides a few cultural changes, the implementation process is already well developed. It also offers several benefits, which are attracting much traction for the overall market.
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In the coming years, the global laser plastic welding market is likely to witness a spike in demand in response to the increasing application of the technology across various industries. Currently, the automotive sector is at fore in exhibiting the use of laser plastic welding. Manufacturing a vehicle involves numerous plastic components that boast high processing quality. As laser plastic welding ensures strong joints, besides ensuring high precision and accuracy, its use in the automotive sector is likely to escalate in the near future, enabling the market to create a niche in the sector. Besides this, the rising demand from the healthcare industry will also enable the market exhibit strong growth in the coming years.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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