Laser Materials Market is anticipated to witness significant growth opportunities from wireless networks by 2025

Laser Materials Market in Asia Pacific held a noticeable market share in terms of revenue, which is expected to grow at a CAGR of 5.5%. The increased expenditure on healthcare will contribute to the regional markets in Taiwan, India, China and South Korea. In Europe, the metals segment is expected to account for the largest market volume of 40.1 kilo tons by 2024 owing to the diverse applications and ongoing research.

Entertainment category has also experienced significant positive change due to the laser light shows, projection TVs, etc. Communication sector is estimated to grow with a decent rate of 5.3%. Shifting toward wireless networks and increased voice demand will propel the laser materials market.

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The increased amount of data transfer and speed in communication are some of the key advantages that will drive the laser materials market in future. The product has also gained significant importance in military applications which will upscale the demand for the market during the forecast timeframe.

Laser materials market by application:

  • Communication
  • Materials Processing
  • Medical & Aesthetic
  • Instrumentation & Sensors
  • Lithography
  • Optical Storage
  • R&D & Military

Technological advancements in materials and their properties will further fuel the Laser Materials Market growth. Application of the product in automotive, aerospace and other industrial sectors will escalate the demand for the product over the forecast period.

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Laser Materials market players in the product industry include:

  • Morgan Advanced Materials
  • GrafTech International
  • Asahi Glass Co. Ltd.
  • Corning Incorporated
  • Murata Manufacturing Co. Ltd.
  • CeramTec GmbH
  • Taishan Fiberglass Inc.
  • Evonik
  • The Dow Chemical Company
  • Universal Laser Systems Inc.
  • Anglo American plc
  • Mitsubishi Chemical Holdings Corporation

Application of glass for laser materials is estimated to grow at a significant rate of 7.7%. Manufacturers are exploring techniques to use plastics and ceramics for making semiconductor parts, circuit boards, etc.

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