ALBANY, New York, December 18, 2017 /PRNewswire/ --
In the last few years, laser has emerged as one of the most preferred methods for welding plastics. It provides improved welding quality as the flexibility it offers is second to none. Despite these and several other advantages, the penetration of laser plastic welding is slower than expected in the plastic industry. Nonetheless, the Transparency Market Research's (TMR's) forecasts about the laser plastic welding market's robust growth potentials is indicative of mounting competition it may witness in the coming years. Amidst soaring competition companies such as Han's Laser Technology Industry Group Co., TRUMPF GmbH + Co. KG, Ltd, Emerson Electric Co., LPKF Laser & Electronics AG, Rofin Sinar Technologies Inc., Nippon Avionics Co., Ltd., Jenoptik AG, Leister Technologies AG among others are likely to toy with diverse strategies to buoy growth trends. On the back of this, the global laser plastic welding market is foreseeing a promising future.
In a new study, TMR has pegged the global laser plastic welding market's valuation at US$758.9 mn in 2016. Reporting a positive CAGR of 8.3%, the overall market is likely to reach US$1,543.2 mn by the end of 2025. Holding the dominant 42% of the global laser plastic welding market, Asia Pacific emerged at fore in 2016. Besides this, TMR forecasts sustainable growth for the market in North America. During the course of the forecast period, Europe is likely to offer lucrative prospects for the market's growth. Among end-use industries, the application of laser plastic welding is expected to remain high in the automotive sector. In addition, the rising demand from the healthcare industry will enable the market gain impetus in the coming years.
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Rising Demand for Through Transmission Laser Plastic Welding to Boost Growth
From laboratory studies to getting used in diverse industrial applications, laser plastic welding has transitioned promptly as manufacturers became familiar with the technical advantages it offers. The technology enables producing superior weld joints, which is a key factor aiding its increased application over the years. In addition, the plummeting cost of equipment used for laser welding has accelerated its acceptance across industries. Meanwhile, the spree of adopting through transmission laser welding is accelerating, in process paving way for the market's splendid future. Using laser plastic welding ensures highest quality weld joints, besides enabling users derive the benefit of simplest joint designs. These are few of the intrinsic qualities, which has made the technology highly attractive. While implementing through transmission laser plastic welding require a proper learning curve, besides a few cultural changes, the implementation process is already well developed. It also offers several benefits, which are attracting much traction for the overall market.
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Rising Application in Diverse Industries to Help Market Grow
In the coming years, the global laser plastic welding market is likely to witness a spike in demand in response to the increasing application of the technology across various industries. Currently, the automotive sector is at fore in exhibiting the use of laser plastic welding. Manufacturing a vehicle involves numerous plastic components that boast high processing quality. As laser plastic welding ensures strong joints, besides ensuring high precision and accuracy, its use in the automotive sector is likely to escalate in the near future, enabling the market to create a niche in the sector. Besides this, the rising demand from the healthcare industry will also enable the market exhibit strong growth in the coming years.
This review is based on a TMR report, titled "Laser Plastic Welding Market (System Type - Standalone System and Integrated System; Laser Type - CO2 laser, Diode Laser (Dio-scan, Direct, Fiber-coupled, Multi-diode), Fiber Laser, and Nd:YAG laser; Application - Components and Films; Method - Contour Welding, Quasi-simultaneous Welding, Simultaneous Welding, Mask Welding, and Radial Welding; End-use Industry - Electrical & Electronics, Healthcare, Automotive, and Consumer Goods) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2025."
Browse Press Release at https://www.transparencymarketresearch.com/pressrelease/laser-plastic-welding-market.htm
The report segments the global laser plastic welding market as:
By System Type
- Standalone System
- Integrated System
By Laser Type
- CO2 laser
- Diode laser
- Fiber laser
- Nd:YAG laser
- Contour welding
- Quasi-simultaneous welding
- Simultaneous welding
- Mask welding
- Radial welding
By End-Use Industry
- Electrical & Electronics
- Consumer Goods
- North America
- Latin America
- Middles East and Africa (MEA)
- Asia Pacific (APAC)
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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.
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