Laser Plastic Welding Market: Demand for Superior Weld Joints Boosts Application across Diverse Industries, says TMR
The global laser plastic welding market was valued at US$ 758.9 Mn in 2016 and is expected to be valued at US$ 1,543.2 Mn in 2025.
The global laser plastic welding market is characterized by material processing machinery manufacturers innovating in terms of welding methods, laser source and automation in order to cater to intensely competitive manufacturing machinery market. Laser plastic welding system manufacturers are also realizing the significance of introducing innovative technology as part of their branding and marketing strategies. Increasing consumer preference for aesthetically compelling products has driven the demand of laser plastic welding due to its capability of performing welding operation in the hidden surfaces. Various developments in the methods of the laser plastic welding has increased flexibility in the required condition for plastic welding and resulted into expansion of the market into various industries for multiple applications.
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The global laser plastic welding market is expected to expand at a CAGR of 8.3% in terms of market value over the forecast period 2017-2025. The global market is observed to generate revenues primarily driven by automotive, electrical and electronics, and healthcare industry.
Integrated Systems Segment to Hold Slightly Higher Share in Global Market
On the basis of system type, the global laser plastic welding market is segmented into standalone systems and integrated systems. In terms of global volume, integrated systems segment is anticipated to account for slightly higher share than the standalone systems segment and forecasted to move towards equilibrium to reduce the difference in market shares of the two segments. Due to comparatively low prices of standalone systems, lying into the affordable range for the emerging manufacturers has resulted into the higher pace of growth of the standalone systems segment.
On the basis of method, the market is segmented into contour, quasi-simultaneous, simultaneous, mask, radial and others. The others segment includes various methods recently developed by few key players of the market such as roller welding, globo welding and hybrid welding. Contour welding is the simplest method widely incorporated in various industries for two dimensional welds. Mask welding is widely preferred by electronics industry due to its capability of precisely weld the components without damaging the sensitive components near the welding region. The methods within the others segment are presently in introduction stage and has limited applications restraining the growth of the segment, although, expected to rise at considerable pace due to introduction of the technology to the new industries.
On the basis of end-use industry, global laser plastic welding market can be segmented as electrical and electronics, healthcare, automotive, consumer goods and other industries. Automotive industry is estimated to contribute with the largest share of 48.9% in global laser plastic welding market in 2017 while the healthcare segment is expected to expand at the highest pace with a CAGR of 10.9% over the forecast period.
Asia Pacific Held Dominance among Key Regional Segments
The global laser plastic welding market is segmented geographically into five key regions including North America, Latin America, Europe, Middles East and Africa (MEA) and Asia Pacific (APAC). Accounting for the dominant share of 42% in 2017, Asia Pacific emerged lead in the global market. Expansion reported by the automotive and electrical & electronics industries across Asia Pacific will support the market’s growth in the region through the forecast period. Besides this, lucrative prospects are likely in Europe. The presence of a large number of machinery manufacturers will enable growth in the laser plastic welding market in Europe.
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Some of the players operating in the global laser plastic welding market include TRUMPF GmbH + Co. KG, Han's Laser Technology Industry Group Co., Ltd, LPKF Laser & Electronics AG, Jenoptik AG, Emerson Electric Co., Nippon Avionics Co., Ltd., Rofin Sinar Technologies Inc., Leister Technologies AG, Amada Miyachi Co. Ltd., DILAS Diodelaser GmbH, CEMAS Elettra S.R.L., Dukane IAS LLC, Control Micro Systems, Inc., Bielomatik Leuze GmbH + Co. KG, O.R. Lasertechnology GmbH, Seidensha Electronics Co., Ltd, Sahajanand Laser Technology Ltd., Scantech Laser Pvt. Ltd. and Wuhan Chuyu Optoelectronic Technology Co., Ltd.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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