Laser Materials Market Size, Share, Opportunities, And Trends By Materials (Metals, Ceramics, Plastics, Glass, Others), By Application (Metal Processing, Medical and Aesthetics, Lithography, Anti-Missile, Others), And By Geography - Forecasts From 2023 To 2028

The laser materials market was valued at US$1.118 billion in 2018 and is anticipated to grow at a CAGR of 5.56% to reach a market value of US$1.645 billion by 2024.  The global laser materials market is predicted to witness remarkable growth during the forecast period as laser counterparts are emerging as a lightweight, low cost and more efficient technology in comparison to the existing technology. Laser material processing is expanding at a good rate on account of the burgeoning need for high-power laser cutting and welding in a number of applications. This coupled with its growing use in 3D printing is further bolstering the laser processing market which in turn is positively impacting the laser materials market growth.

By Materials

The global laser materials market is segmented on the basis of the material used in electronic components for the laser machinery which includes metal, ceramics, glass, plastics, and others. The metal segment of the global laser materials market holds a considerable share due to the usage of metals for a range of electronic components. During the forecast period, glass and ceramics segments are also expected to witness significant growth in market size. The growth of the ceramics segment is widely due to their usage in various semiconductor and non-semi-conductor parts, and circuit boards.

By Application

The global laser materials market is segmented into metal processing, medical and aesthetics, lithography, anti-missile, and others. Metal processing held a substantial share of the market in 2018. However, other segments such as medical, electronics, and instrumentation are also expected to witness considerable growth during the next five years owing to the high demand for laser materials in Research and Development, and the military segment for applications in anti-tank missiles, radars, and others.

By Geography

The global laser materials market is segmented into various segments on basis of geographical regions. Asia Pacific was the most dominant segment during 2018 as China is still the fastest-growing laser market globally. This growth in Asia-pacific is mainly driven by digitalization, automation industry advancements, and widening applications of laser technology. North America is also a major market owing to advancements in various technologies and a large number of ongoing Research and Developments in the region.

Competitive Insights

The key market players in the laser materials market are Evonik Industries AG, BASF SE, Mitsubishi Chemical Corporation, Morgan Advanced Materials plc, Dow, China Petrochemical Corporation, Laser Materials Corporation, and Trotec Laser. The major companies in the laser materials market are exploring to come across developments that can close the gap between laser technology and its applications.

Segmentation:

• By Materials
  • Metals
  • Ceramics
  • Plastics
  • Glass
  • Others

• By Application
  • Metal Processing
  • Medical and Aesthetics
  • Lithography
  • Anti-missile
  • Others

• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Currency

1.5. Assumptions

1.6. Base, And Forecast Years Timeline

2. RESEARCH METHODOLOGY

2.1. Research Design

2.2. Secondary Sources

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

4.1. Market Segmentation

4.2. Market Drivers

4.3. Market Restraints

4.4. Market Opportunities

4.5. Porter’s Five Forces Analysis

4.5.1. Bargaining Power of Suppliers

4.5.2. Bargaining Power of Buyers

4.5.3. Threat of New Entrants

4.5.4. Threat of Substitutes

4.5.5. Competitive Rivalry in the Industry

4.6. Life Cycle Analysis - Regional Snapshot

4.7. Market Attractiveness

5. LASER MATERIALS MARKET BY MATERIAL

5.1. Metals

5.2. Ceramics

5.3. Plastics

5.4. Glass

5.5. Others

6. LASER MATERIALS MARKET BY APPLICATION

6.1. Metal Processing

6.2. Medical and Aesthetics

6.3. Lithography

6.4. Anti-missile

6.5. Others

7. LASER MATERIALS MARKET BY GEOGRAPHY

7.1. North America

7.1.1. North America Laser Materials Market, By Material, 2018 to 2024

7.1.2. North America Laser Materials Market, By Application, 2018 to 2024

7.1.3. North America Laser Materials Market, By Country, 2018 to 2024

7.1.3.1. USA

7.1.3.2. Canada

7.1.3.3. Mexico

7.2. South America

7.2.1. South America Laser Materials Market, By Material, 2018 to 2024

7.2.2. South America Laser Materials Market, By Application, 2018 to 2024

7.2.3. South America Laser Materials Market, By Country, 2018 to 2024

7.2.3.1. Brazil

7.2.3.2. Argentina

7.2.3.3. Others

7.3. Europe

7.3.1. Europe Laser Materials Market, By Material, 2018 to 2024

7.3.2. Europe Laser Materials Market, By Application, 2018 to 2024

7.3.3. Europe Laser Materials Market, By Country, 2018 to 2024

7.3.3.1. Germany

7.3.3.2. United Kingdom

7.3.3.3. France

7.3.3.4. Spain

7.3.3.5. Others

7.4. Middle East and Africa

7.4.1. Middle East and Africa Laser Materials Market, By Material, 2018 to 2024

7.4.2. Middle East and Africa Laser Materials Market, By Application, 2018 to 2024

7.4.3. Middle East and Africa Laser Materials Market, By Country, 2018 to 2024

7.4.3.1. Saudi Arabia

7.4.3.2. Israel

7.4.3.3. Others

7.5. Asia Pacific

7.5.1. Asia Pacific Laser Materials Market, By Material, 2018 to 2024

7.5.2. Asia Pacific Laser Materials Market, By Application, 2018 to 2024

7.5.3. Asia Pacific Laser Materials Market, By Country, 2018 to 2024

7.5.3.1. China

7.5.3.2. Japan

7.5.3.3. India

7.5.3.4. South Korea

7.5.3.5. Others

8. COMPETITIVE INTELLIGENCE

8.1. Competitive Benchmarking and Analysis

8.2. Strategies of Key Players

8.3. Recent Investments and Deals

9. COMPANY PROFILES

9.1. Evonik Industries AG

9.2. BASF SE

9.3. Mitsubishi Chemical Corporation

9.4. Morgan Advanced Materials plc

9.5. Dow

9.6. China Petrochemical Corporation

9.7. Laser Materials Corporation

9.8. Trotec Laser

LIST OF FIGURES

LIST OF TABLES

 

Evonik Industries AG

BASF SE

Mitsubishi Chemical Corporation

Morgan Advanced Materials plc

Dow

China Petrochemical Corporation

Laser Materials Corporation

Trotec Laser