Growing trend of Miniaturization of Device is Propelling the Growth of the Laser Processing Market

 

The term laser processing is used to describe a type of printing that involves using a semi-high frequency laser, in order to create high quality, vibrant images from any type of material. This technology has been around since the 1950s. Many small businesses and individuals use inkjets in their printing needs, because they are more economical and take up less space.

The growing demand for miniaturization of microelectronic devices and technological advancement in the medical industry is fostering the growth of the laser processing market. It has significant applications such as endoscopy in medical, drilling holes in metals, and targeting in the military. Moreover, increasing demand from marking & engraving, welding & brazing, cutting & scribing, drilling, cladding & coating, annealing, and material removal is again anticipated to propel the growth of the laser processing market. Rapid growth in the construction industry as lasers help builders in creating precise models of buildings is further projected to augment the growth of the market.

The Asia Pacific is projected to gain significant growth over the forecast period and this is attributed to the rapid growth in the construction industry due to increasing investment. According to the India Brand Equity Foundation, the infrastructure sector has become the biggest focus area for the Government of India. In Union Budget 2020-21, the Government has announced Rs. 91.82 billion (US$ 13.14 billion) for road transport and highways. For FY21, budgetary allocation to the Ministry of Development of the North Eastern Region has been increased to Rs. 3,049 crore (US$ 429.25 million) from Rs. 2,670 crore (US$ 376.16 million) in FY20.

Key Developments:

1.      In September 2020, Fonon Technologies launch a full-range of laser equipment for Marking and Engraving, Laser Cutting, Laser Scribing, as well as 3D Engraving, 3D Additive Printing, and 3D Metal Sintering.

2.      In April 2018, Prima Power has announced the launch of its new Laser Next 2141 3D fiber laser machine. The product is designed and developed to satisfy the needs of stamped-metal-parts manufacturers in diversified industrial sectors, such as job shops, press shops, aerospace, agricultural, and automotive.

3.      In April 2020, Gigaphoton Inc. a manufacturer of light sources used in semiconductor lithography, has announced the launch of a new KrF laser “G300K” as part of its GIGANEX series that uses semiconductors manufacturing lithography light sources.

4.      In June 2019, II-VI Incorporated Launched Faster Laser Processing Heads with Integrated Vision Systems for Precision Welds in Next-Generation Automotive Manufacturing