Laser Materials Market Size By Type, Application Analysis, Key opportunities and challenges, Forecast By 2028

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Laser Materials Market 2022 Industry Outlook,
Comprehensive Insights, Growth and Forecast
2028
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Global Market Scenario of Laser Materials Industry
Laser Materials Market Size is expected to exceed
USD 2 billion by 2028. Growing demand for
lithography coupled with enhanced product
development in the instrumentation sensors
industry will drive market growth. Some major
findings of the laser materials market report
include Growing demand for lasers in the
military industry is expected to witness
significant growth over the projected
period. The increased penetration of lasers in
various end-user industries will create new
opportunities for the market. The growth of
lasers in the medical industry will have a
positive impact on the laser materials market.
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Asia Pacific will witness high growth in the
laser materials market owing to the development
of various end-user industries and growth in the
regional semiconductor industry. Some of the
prominent players in the global laser materials
market include The Dow Chemical Company, BASF SE,
Norilsk Nickel, Mitsubishi Chemical Holdings
Corporation, GrafTech International, Morgan
Advanced Materials, Evonik, Universal Laser
Systems, Aurubis AG, CeramTec GmbH, Anglo
American, Murata Manufacturing, etc. The growing
utilization of laser processing has drastically
improved the quality and production of modern
medical devices. Various manufacturers are under
constant pressure to keep pace with newer medical
regulations and standards designated for the
lasers that are to be utilized in the medical
industry. Lasers in the medical industry help
doctors their teams to pinpoint and work on
problems in the body. Moreover, the increased
applications of lasers in the cosmetic industry
will further drive the laser materials market
during the projected period. However, the
COVID-19 pandemic has negatively impacted the
laser materials market.
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The ceramic segment was valued at over USD 21
million in 2021 and is anticipated to cross over
USD 35 million by 2028 in the laser materials
market. Ceramic laser materials are expected to
provide highly attractive options compared to
other materials in the future owing to their
heat-resistant properties. The instrumentation
sensor industry has witnessed a demand for
ceramic-based lasers in the last few years and is
expected to remain as a major application segment
during the forecast timeframe. As ceramic is
heat- moisture-resistant, its growth in the
laser industry will, in turn, augment the laser
materials market growth during the projected
period. The lithography segment will witness a
CAGR of 5.2 during the forecast period in the
laser materials market. The lithography market is
growing at a very high CAGR for the past several
years and is anticipated to grow with a prominent
CAGR over the forecast period. The adoption of
new technologies and printing methods in the
industry is propelling laser materials usage in
the industry for the last few years.
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Competitive Analysis
In addition, high RD investments in the industry
are likely to increase laser material demand for
lithography during the forecast timespan. The
rapidly growing electricals electronics
industry across the globe is projected to fuel
the lithography market growth in the near future.
Moreover, ongoing advancements in the lithography
market will increase its application
segments. Europe was valued at over USD 295
million in 2021 and is expected to reach USD 380
million by the end of the study time frame. Due
to its large size, the communication industry in
Europe will hold a major chunk of the product
demand in the near future. High internet
penetration and demand for HD connectivity in the
region are anticipated to help the laser
materials market to grow further over the
forecast period. In addition, the regional
medical aesthetic industry has shown good growth
numbers in the recent past and is projected to
grow with a healthy CAGR during the forecast
timespan. Players operating in the laser
materials market are working on establishing and
upgrading their distribution networks. Various
industry players are forming strategic
partnerships to further increase their revenue
generation. Various participants in the laser
materials market include The Dow Chemical
Company, BASF SE, Norilsk Nickel, Mitsubishi
Chemical Holdings Corporation, GrafTech
International, Morgan Advanced Materials, Evonik,
Universal Laser Systems, Aurubis AG, CeramTec
GmbH, Anglo American, Murata Manufacturing, etc.
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