Laser Processing Market (By Process - Material processing, Marking and Engraving and Micro-processing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 09/03/2015 -- Few scientific discoveries of the 20th century have demonstrated a range of industrial applications as wide as lasers, or more accurately, LASERs – an acronym for light amplification by stimulated emission of radiation. Lasers make for a powerful source of light, exhibiting extraordinary properties absent in conventional sources of light. The unique attribute of lasers lies in the way their light waves travel long distances with little divergence. Concentration of energy at an extremely high intensity, which remains almost constant through the long distance it travels due to low divergence, is the remarkable feature of lasers.
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Compared to conventional arc or a flame, it is easier to control a laser beam and locate it more precisely. The intense heat generated by laser absorption in various metal surfaces is used for industrial purposes such as welding, precision cutting, marking and engraving, and drilling without damaging the material. Owing to such qualities, the application of laser processing has exponentially increased across several industries
Transparency Market Research recently conducted a survey to study the growth trajectory of laser processing across industries. The research revealed that the global laser processing market, which stood at US$8.76 billion in 2013, is anticipated to reach US$17.26 billion by 2020. If the figures hold true, the global market for laser processing will rise at a positive 10.2% CAGR between 2014 and 2020.
Laser Technology Applications in Materials Processing and Environmental Processes
Laser technology has already emerged as an essential tool for materials processing in industries and environmental processes. Laser technology offers high efficiency and better brightness compared to conventional sources of light. The process also enables the processing and monitoring of remote non-contact materials and visibly shortens the time consumed for processing.
Many consumers use laser processed products on a daily basis without even realizing it. Be it the cars we drive, the cellphones we use, or even the food we eat, a wide variety of products are nowadays controlled and processed with the help of lasers.
Since its discovery, laser technology has offered revolutionary solutions in the field of environmental monitoring. Some of the most common examples of the atmospheric deployment of laser technology are profiling of temperature, humidity, and density of air, observing stratospheric aerosols, detecting hazardous greenhouse gases, and monitoring of pollutants.
The most common applications of laser technology in industries include:
Owing to its diverse applications, laser technology is increasingly used to engrave permanent markings on electronic equipment, consumer goods, and other products.
Governments in various nations have imposed stringent regulations to ensure clear markings on consumer products such as pharmaceuticals, food, and others, which significantly boosts the demand for laser processing across industries.
High power pump diode lasers are used in several industrial applications such as printing, marking, plastic wielding, or scanning. The demand for high power diode laser solutions has handed the segment a competitive position in the global laser processing market due to its cost efficiency and compactness.
Lasers have also been widely deployed in test and measurement applications in several industries.
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Spurred by such widespread applications across industries, the laser processing market is likely to register exponential growth in the next four to five years.
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