DUBAI-- September 30, 2021 -- The market for ultrafast lasers is largely driven by the rising demand from the semiconductor and material processing domain. On account of the growing applications across numerous industries such as communication and technology, consumer electronics, and automotive, the global market for ultrafast lasers is expected to register impressive growth at a CAGR of 14% over the forecast period 2021-2031, as per the latest insights from Fact. MR.
Several companies operating in the market are increasingly switching from conventional laser cut technology to ultrafast laser technology owing to multiple advantages of the latter such as enhanced dimensional accuracy, elimination of post-processing steps, tighter tolerances, and speedy process.
Ultrafast laser technologies such as femtosecond and picosecond are gaining traction in the medical and military equipment manufacturing sector. For instance, medical components such as stents and catheters are being made using ultrafast lasers. This will create opportunities for growth in the coming years.
Lasers reduce the need for anesthetics or sterilization. Considering this, some of the non-laser techniques such as mechanical saws and surgical scalpels are being substituted by ultrafast lasers, due to their homogenous practicality traits and easy to handle characteristics.
Thus, a number of manufacturers are aiming at launching new products to address the increasing demand from the material processing and medical sector. For instance, in February 2019, EKSPLA, a manufacturer of laser systems and optoelectronics, announced introducing its new product named, FemtoLux green, a lightweight femtosecond fiber laser. These developments will propel the demand for ultrafast lasers in the coming years.
Ultrafast lasers are extensively being used in several industries across countries such as China and Japan. Driven by this, Fact.MR has estimated East Asia to account for more than 30% of the overall market share in the next decade.
“With the emerging trend of miniaturization, ultrafast laser manufacturers are emphasizing on developing compact size femtosecond lasers with higher speed and tighter dimensional tolerances to address high demand from the consumer electronics sector,” says a Fact.MR analyst.
China to Emerge the Most Remunerative Market for Ultrafast Lasers in East Asia
China is the largest producer, consumer, and exporter of consumer electronics such as mobile phones, memory chips, microprocessors, and display panels across the globe. As these devices are highly complex components, made of multiple layers of extremely low thickness and variety of materials, they require high-precision and advanced processing devices, such as ultrafast lasers, to produce large quantities, economically.
Laser manufacturers in China are adopting various strategies such as expanding their product portfolio, collaboration, and acquisition. For instance, in April 2020, HSG Lasers, one of the leading laser manufacturing companies, announced launching two new ultrafast laser inbuilt models named, HS-TX65 PLUS and HS-TH65 PLUS. Such developments are expected to drive the market in China.
Ultrafast femtosecond lasers are being adopted in specialized clinics and hospitals across China, for various medical applications to facilitate cardiovascular surgical treatment, dental caries removal, and ophthalmology among others because they offer greater precision in tissue cutting and cause minimal damage to adjacent tissues.
Thus, the increasing incidence of diseases such as arteriosclerosis, diabetic retinopathy, and others coupled with surging demand for minimally invasive surgeries is likely to present lucrative growth opportunities for the market player in the country.
Some of the leading companies operating in the ultrafast laser market are:
· MKS Instruments Inc.
· Viavi Solutions
· IPG Photonics Corporation
· Amplitude Laser
· Coherent, Inc.
· Fluence Sp. z o.o
· Jenoptik AG
· KMLabs
· Laser Quantum
· NKT Photonics A/S
· Spark Lasers
· Wuhan Huaray Precision Laser Co., Ltd.
Key Questions Answered by the Report
· The market survey highlights projected sales growth in the ultrafast laser market over the upcoming decade
· The report offers insight into ultrafast laser demand outlook for 2020-2030
· Ultrafast laser market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
· Ultrafast laser market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
