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Research and Markets recently published a report on, "Ultrafast Lasers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027". According to the report, the global ultrafast lasers market size reached US$ 1.6 Billion in 2021, and is expected to reach US$ 3.8 Billion by 2027, exhibiting a CAGR of 15.51% during 2021-2027.
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Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Ultrafast lasers are short pulses of light of a few picoseconds or femtoseconds that are used to create, detect and study short-lived transient chemical reactions and transient states.
They are generated by mode-locked oscillators and have a broadband optical range. Some of the commonly used ultrafast lasers include diode-pumped, mode-locked diode, titanium-sapphire and fiber lasers. They are used for the precise processing of materials, such as metals, ceramics, composites, fiber-reinforced materials and semiconductors.
They have high peak powers and power densities and offer enhanced dimensional accuracy with minimal post-processing steps. As a result, they are widely used in the manufacturing of automobiles, consumer electronics and medical devices.
Ultrafast Lasers Market Trends:
Significant growth in the electronics industry across the globe is one of the key factors creating a positive outlook for the market. With the increasing miniaturization of consumer electronic devices, ultrafast lasers are used for the manufacturing of smartphones, microprocessors and display panels.
Moreover, the widespread product adoption in the automotive industry is providing a thrust to the market growth. Ultrafast lasers are used for making small grooves into the surface of engine cylinder walls to facilitate efficient distribution of the lubricant and minimize friction losses.
In line with this, the increasing adoption of ultrafast lasers for high-quality micromachining, scribing and cutting of brittle materials is also favoring the growth of the market. Additionally, the increasing utilization of these lasers for the development of coronary stents using biopolymers or magnesium-based alloys with enhanced biocompatibilities is also favoring the market growth.
Other factors, including rapid industrialization, along with the implementation of favorable government policies promoting the use of ultrafast lasers, are anticipated to drive the market toward growth.
Click here to read the research report titled, “Ultrafast Lasers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”.
