Global Laser Micromachining Market Report 2022: A $365+ Million Market by 2030 Featuring Major Players - 3D-Microag AG, IPG Photonics, and KJ Laser Micromachining

DUBLIN, March 20, 2023 /PRNewswire/ -- The "Global Laser Micromachining Market, By Solution, Raw Materials, By Process, By Application, and By Industry, Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.

Global laser micromachining market generated a revenue of $207.3 million in 2021 and is estimated to reach a value of $368.2 million by 2030, at a CAGR of 6.84% during the forecast period 2022-2030.

Laser micromachining is a rapidly growing field that is revolutionizing production processes across the industrial and scientific spectrum. With the ability to produce incredibly small sections of metal with high precision, laser micromachining offers many advantages over traditional machining techniques. For instance, laser micromachining can create components with much tighter tolerances, leading to improved quality and reliability.

Additionally, laser micromachining is often faster and less expensive than traditional methods, making it a viable option for smaller batches or more niche products. In addition to industrial applications, laser micromachining has broad potential in fields like astrophysics, medicine, and defense.

Laser micromachining is quickly becoming a popular processing method for producers of high-quality components and products. This is due in large part to the laser's ability to produce accurate, repeatable cuts with minimal wear, making it an ideal option for precision tasks and materials like glasses, lenses, and semiconductor wafers.

In addition to its many applications in the production of components, lasers are also being increasingly used in industrial processes such as welding and cutting. Laser micromachining provides precise control over the heat and pressure used during these processes, making it a critical ingredient for sustainable manufacturing.

Competitive Landscape

The laser micromachining market is growing rapidly as technological advancements and commercialization of novel machine tools enable significant cost reductions in manufacturing high-quality microchips. As a result, the laser micromachining industry is projected to grow at a CAGR of 6.84% from 2022 to 2030. As per our findings, top 10 players in the global laser micromachining market are holding over 70% market share.

Major players include 3D-Microag AG, IPG Photonics Corp., and KJ Laser Micromachining. Apart from top 10 players, there are many companies who are working on this technology, and the competition among these companies is very intense to grab the remaining 30% market share.

Players in this market are trying to come up with new ways to improve their product, and they are also trying to find new customers. Companies in this industry are quickly adapting to changes in the market, and they are able to provide better services to their customers.

Market Dynamics of Global Laser Micromachining Market

Drivers

Laser micromachining is seeing increasing demand from a number of industries, as the technology continues to improve and become more affordable.

Factors driving this demand include:

• Low production costs - Laser micromachining is relatively inexpensive to use, making it a viable option for smaller production runs
• High precision - laser micromachining produces very precise finished products, allowing for increased accuracy in manufacturing
• Ruggedness - laser micromachining is hardy and can handle a high amount of wear and tear, making it ideal for use in high-stress areas such as the automotive industry
• Rapid prototyping - Laser micromachining is a great way to quickly create prototypes of complex objects. By cutting small parts out of materials like plastic, metal, or composites, engineers can quickly test designs and make changes until they get the exact results they need

Restraints

• Laser output power and beam quality: Firstly, the output power of lasers used in micromachining must be high enough to break through the material being processed. Poor beam quality can lead to inconsistencies in the final product, which can also be costly to correct
• Tooling and materials: Secondly, the tools and materials used in laser micromachining require precise accuracy in order to create precision parts. This is often challenging as many materials have a low hardness that can easily damage delicate tools
• Filling and contouring: Lastly, it is difficult to fill and contour complex shapes with lasers due to the difficulty in generating accurate heat required for machining these objects. As a result, many products are produced as a series of isolated parts rather than a fully integrated design
• Manufacturing speed and throughput: Lastly, laser micromachining can be time-consuming due to slow manufacturing speeds and high throughputs. This limits the rate at which new products can be created

Global Laser Micromachining Market Segmentation 

By Solution

• Platform, 2017-2030 (in USD Million)
• Workstations, 2017-2030 (in USD Million)
• Compact Micromachining Units, 2017-2030 (in USD Million)
• Micromachining Services, 2017-2030 (in USD Million)

By Raw Material

• Metals & Alloys, 2017-2030 (in USD Million)
• Plastic, 2017-2030 (in USD Million)
• Glass & Quartz, 2017-2030 (in USD Million)
• Silicon, 2017-2030 (in USD Million)
• Optic Materials, 2017-2030 (in USD Million)
• Ceramics, 2017-2030 (in USD Million)
• Polymers, 2017-2030 (in USD Million)
• Thin Films, 2017-2030 (in USD Million)
• Composites, 2017-2030 (in USD Million)
• Others, 2017-2030 (in USD Million)

By Process

• Additive, 2017-2030 (in USD Million)
• Subtractive, 2017-2030 (in USD Million)
• Others, 2017-2030 (in USD Million)

By Application

• Micro hole drilling, 2017-2030 (in USD Million)
• Cutting, 2017-2030 (in USD Million)
• 3D Micro Milling, 2017-2030 (in USD Million)
• Scribing, 2017-2030 (in USD Million)
• Blind hole machining, 2017-2030 (in USD Million)
• 3D Printing, 2017-2030 (in USD Million)
• Laser Marking, 2017-2030 (in USD Million)
• Selective Material Removal, 2017-2030 (in USD Million)
• Laser Lift-Off, 2017-2030 (in USD Million)
• Annealing, 2017-2030 (in USD Million)
• Ultrafine Marking, 2017-2030 (in USD Million)
• Others, 2017-2030 (in USD Million)

A selection of companies mentioned in this report includes

• 3D-Microag AG
• IPG Photonics Corp.
• KJ Laser Micromachining

For more information about this report visit https://www.researchandmarkets.com/r/18wz5a

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