Laser Material Market Size is Set to Grow at a Remarkable Pace in the Coming Years.
Portland, OR -- (SBWIRE) -- 07/19/2017 -- Laser is light-emitting device that consists of diodes, circuit boards, and optics, which include semiconductor metals, ceramics, plastics, and materials. Semiconductors are composed of compounds and alloys of aluminum, phosphorus, indium, and similar elements, enclosed in plastics connected to metal pads in circuits cased with wood or plastics. The laser manufacturing companies applies makes use of materials such as metals, ceramics, plastic along with the processing medium.
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Based on the market demand, metals dominated the laser market owing to major applications in electric components of laser, laser diodes, and semiconductor, followed by glass. Ceramics are expected to drive the market growth in the coming years. Laser technologies are widely applicability in the communication sector, owing to rise in demand for Internet services. Increase in demand for specialized anti-tank missiles, radars, underwater sonic vehicles in military services and urbanization in LAMEA regions are expected to drive the market growth. Geographically, Asia-Pacific region possess high market potential in laser materials attributable to growth in electronics, communication, & automobile segments, followed by North America & Europe. Unskilled workforce coupled with huge labor cost impede the growth, but recent advancements in R&D activities are estimated to rise in the market.
The laser material market is segmented based on material, application, end-user industry, and geography. Based on materials, it includes metals, ceramics, plastics, glass, and others. According to application, it is divided into metal processing, medical, sensors, lithography, optical storage, anti-missile tanks, and others. Based on end-user industry, the market is categorized into electronics & communication, military, automobiles, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in this market include BHP Billiton, The Dow Chemical Company, Evonik Industries, EXXON MOBIL, BASF SE, Taishan Fibreglass, Saint Gobain, Corning Incorporated, Morgan Advanced Materials plc, Deveron Resources Ltd, Triton Minerals Ltd, and Scott AG.
LASER MATERIAL MARKET KEY SEGMENTS:
- Metal Processing
- Optical Storage
- Anti-Tank Missiles
By End-User Industry
- Electronics & Communication
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
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