Laser Processing Market - Expand at 10.20% CAGR Driven by Growing Medical Applic

Posted by RASHMI on April 2nd, 2019

Laser technology is used for different industrial processes including cutting, welding, drilling, marking and engraving. Laser processing market is expected to witness high demand during the forecast period owing to the wide applications of laser technology. Laser technology offers high speed and accurate industrial processes as compared to conventional industrial processing techniques. In addition, laser processing provides clean and a damage free operation as it is a non-contact process. This is one of the most important factors responsible for growing adoption of laser technology in manufacturing processes across the world.

Rising demand for efficient material processing techniques in manufacturing industries is another driving factor for laser processing market. Additionally, miniaturization of electronics goods is another factor encouraging the adoption of laser technology for production of circuit boards, integrated circuits (ICs) and other electronics components. Laser technology is useful for processes such as cutting and marking in small dimensions. Thus, laser technology plays an important role in marking process for small electronic components.

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Moreover, government regulations about clear and permanent marking on food and pharmaceutical products mandates the use of laser technology for marking processes. This may fuel the adoption of laser technology in marking during the forecast period.

Growing industries in Asia Pacific region is another important factor driving the laser processing market in this region. Countries such as China, Japan and South Korea are expected to show strong growth in laser processing market during the forecast period. This is majorly due to the rising automobile and original equipment manufacturing (OEM) industries in these countries.