Laser Material Market Will be Worth US$1.64 Billion Globally by 2023, Rising Demand for Internet Services, E-commerce Drives the Global Market: Transparency Market Research

Nov 04, 2015, 10:30 ET from Transparency Market Research Pvt. Ltd

ALBANY, New York, November 4, 2015 /PRNewswire/ --

Transparency Market Research has published a new report titled "Laser Material Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023." According to the report, the global market for laser material was valued at US$1.02 billion in 2014 and is anticipated to reach US$1.64 billion in 2023, expanding at a CAGR of 5.5% between 2015 and 2023. In terms of volume, the global laser material market stood at 274.7 kilo tons in 2014.

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Growth in communication, medical and aesthetic, and material processing industries in Asia Pacific is estimated to drive demand for laser materials during the forecast period. China is one of the largest producers and consumers of laser devices in Asia Pacific primarily due to growing economy and large industrial base. Japan is one of the technology leaders in the development of high-end laser devices in the region and is also one of the major consumers of laser devices in industries such as medical, communication, and others.

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Metals was the largest product segment of the laser material market and accounted for over 45% of the demand share in 2014. Metal is chiefly consumed in the production of electric components of laser, laser diodes, semiconductor, and casing of laser, accounting for the largest share of the laser material market in 2014. The others segment which includes graphite, alumina, and other advanced materials was the second-largest product segment of the laser material market in 2014. In a laser device, glass is principally consumed in the manufacture of circuit boards as glass fibers enhance its physical properties. Furthermore, glass is largely required in the production of optics and numerous non-semiconductor parts. Plastics are primarily consumed in the production of circuit boards, semiconductor parts, optics of laser, and the case during the manufacture of components or structural parts of a laser. Ceramics are mostly consumed in semiconductor parts, non-semiconductor parts, and in the manufacture of circuit boards.

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Communication was the largest application segment of the laser material market and accounted for more than 30% of the global laser material market share in 2014. Laser technology plays a vital role in communication application. Rising demand for Internet services, e-commerce, digitalization of information, and economic cycles are primarily boosting growth of laser devices. This, is turn, is fueling growth of the communication segment of the laser material market. Material processing was the second-largest application segment of the laser material market in 2014. In the material processing application, the laser technology is broadly used in material (metal, graphite, diamond, etc.) cutting, designing of machine parts, and advanced material processing technology.

In terms of demand, Asia Pacific constituted the largest share of the laser material market with more than one-third share in 2014. Presence of major metal mines, ease of availability of mining labors due to large population, growing production capacity of plastics & glass along with strong domestic consumption, and regional growth are few major factors propelling the laser material market in Asia Pacific.

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Key manufacturers of laser material include BHP Billiton, Aurubis AG, Anglo American plc, Norilsk Nickel Group, ArcelorMittal, Sinopec Shanghai Petrochemical Group Co., Ltd., Mitsubishi Chemical Corporation, The Dow Chemical Company, Evonik Industries AG, Exxon Mobil Corporation, BASF SE, Taishan Fiberglass Inc., Murata Manufacturing Co., Ltd., Corning Incorporated, Saint Gobain, Mason Graphite Inc., GrafTech International, Kyocera Corp., Asahi Glass Co., Ltd., CreamTec GmbH, Morgan Advanced Materials plc., Triton Minerals Ltd., Deveron Resources Ltd., Schott AG, and Rio Tinto Alcan.

The Laser Material Market has been segmented as follows: 

Laser Material Market - Product Analysis 

  • Metals
  • Ceramics
  • Plastics
  • Glass
  • Others (Including Non-metals, etc.)

Laser Material Market - Application Analysis 

  • Communication
  • Metal Processing
  • Medical & Aesthetic
  • Instrumentation & Sensor
  • Lithography
  • Optical Storage
  • R&D and Military
  • Others (Including Printing, Telecom, etc.)

Laser Material Market - Regional Analysis 

North America 

  • U.S.
  • Rest of North America

Europe 

  • U.K.
  • Germany
  • France
  • Spain
  • Italy
  • Rest of Europe

Asia Pacific 

  • China
  • Japan
  • ASEAN
  • Rest of Asia Pacific

Latin America 

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA) 

  • GCC
  • South Africa
  • Rest of Middle East & Africa

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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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