Laser Material Market to Record an Exponential CAGR | 2023
A
laser a light-emitting device that consists of a laser diode, circuit
board, case, and optics. Electric components on the circuit board and
laser diode are usually made up of semiconductor materials, metals,
and ceramics. Semiconductor materials include compounds/alloys of
aluminum, gallium, arsenic, phosphorous, indium, and similar
elements. These semiconductor materials also contain metals such as
gold, aluminum, and tantalum. The circuit board used in a laser is
typically composed of synthetic resin, usually epoxy, with glass
fibers to strengthen it. The circuit board is connected to the
various components using lines of metals such as aluminum and copper.
Semiconductor parts used in a laser are encapsulated in plastic with
metal leads that are connected to metal pads on the circuit board
with a solder. Solder is a metal alloy made up of tin and lead;
however, in recent years, lead has been replaced by other metals.
Non-semiconductor parts in a laser are composed of materials such as
metal, plastic, glass, and ceramic.
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Optics used in a laser can be prepared with glass; however, they are
usually made from acrylic plastic, which is more economical than
glass. The casings used in a laser are usually made up of materials
such as metal, plastic, or wood. It may also have metal contacts with
batteries, usually prepared from brass. Usage of these materials
varies as per requirement of end-user applications and also depends
upon the laser device manufacturer.
Major
raw materials used in laser manufacturing include glass, plastic,
metal, ceramic, and others along with the processing medium, which is
the source of optical gain within a laser. In terms of demand, metals
dominated the laser material market in 2014 and accounted for over
45% of the demand share in the same year. Metals are primarily
consumed in the production of electric components of laser, laser
diodes, semiconductor, and casing of laser. Glass is the
fastest-growing product segments of the laser material market.
Ceramic is also one of the fastest-growing product segment of the
laser material market. Ceramics are principally consumed in
semiconductor parts, non-semiconductor parts, and in the manufacture
of circuit boards.
In
terms of demand, the communication industry was the largest
application segment of the laser material market and accounted for
more than 30% of the global market share in 2014. Laser technology
plays a vital role in communication. Rising demand for Internet
services, e-commerce, digitalization of information, and economic
cycles are key factors driving growth of laser devices. This, in
turn, is boosting the communication application segment of the laser
material market. R&D and military would be the fastest-growing
segment of the market for laser materials. Increasing demand for
laser devices in anti-tank missiles, radars, underwater equipment in
military services, and advanced R&D application is expected to
significantly drive the laser material market during the forecast
period. Other application segments such as material processing,
medical & aesthetic, instrumentation & sensors, lithography,
optical storage, and others are likely to exhibit higher demand for
laser materials in the near future.
Asia
Pacific accounted for the highest share of the global laser material
market in 2014. In terms of volume, the region accounted for more
than one-third share of the global laser material market in 2014 and
is expected to be the fastest-growing market in the near future.
North America accounted for the second-largest market share of the
laser material market in 2014. Growth of the laser material market in
this region is expected to remain steady in the next few years. The
market in North America is anticipated to depict stable growth as the
region is technologically advanced and has established markets.
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Key
market players 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.
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