#laserprocessingmarket

The term laser processing is used to describe a type of printing that involves using a semi-high frequency laser, in order to create high quality, vibrant images from any type of material. This technology has been around since the 1950s. Many small businesses and individuals use inkjets in their printing needs, because they are more economical and take up less space.

The growing demand for miniaturization of microelectronic devices and technological advancement in the medical industry is fostering the growth of the laser processing market. It has significant applications such as endoscopy in medical, drilling holes in metals, and targeting in the military. Moreover, increasing demand from marking & engraving, welding & brazing, cutting & scribing, drilling, cladding & coating, annealing, and material removal is again anticipated to propel the growth of the laser processing market. Rapid growth in the construction industry as lasers help builders in creating precise models of buildings is further projected to augment the growth of the market.

The Asia Pacific is projected to gain significant growth over the forecast period and this is attributed to the rapid growth in the construction industry due to increasing investment.

The global laser processing market is expected to reach USD 23 billion by 2025, according to a new report by Grand View Research, Inc. The rising utilization of expensive laser-drilling technique for oil & gas exploration purposes is projected to substitute the traditional techniques. Decreasing drilling costs are anticipated to increase the feasibility of uneconomic oil deposits; thus, positively impacting market growth. The growing need for this type of processing, in industrial solar modules, is further expected to fuel the laser processing market growth.

The requirement for laser technology in the medical sector is projected to witness a significant growth, owing to the increasing technological advancements. These technical developments offer faster recovery time, smaller incisions, and lesser pain. The increasing adoption of these methodologies is expected to spur the demand for surgical lasers. Advancements, leading to enhanced edge quality & cutting speeds, are anticipated to offer higher avenues to the laser processing market.

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Further key findings from the report suggest:

Fiber lasers     are projected to exhibit a significant growth with a CAGR exceeding 10.0%     from 2016 to 2025, as they are widely used across several end-use     industries and are highly cost-effective, compared to the other products

The material     processing segment is expected to gain prominence over the forecast period     with an estimated CAGR exceeding 9%, which can be accredited to the     ability of lasers to perform high-speed & accurate industrial     processes

The Asia     Pacific region emerged as the fastest-growing region and is expected to     witness a CAGR of over 10%, owing to the rising number of OEMs in this     region

The key     purveyors of this industry are Trumpf, Han’s Laser Technology Industry     Group Co., Ltd., Amada Co., Ltd., and Rofin-Sinar Technologies, Inc.,     among others. Industry participants focus on technology advancements and     innovation to capture market share.

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