Expert Says Fiber Laser Market has huge Potential to Grow Rapidly
Fiber laser is a type of laser, in which the beam transfer and the laser cavity is incorporated into a solitary system inside an optical fiber. It is doped with rare-earth elements such as erbium, ytterbium, neodymium, thulium, praseodymium, holmium or dysprosium. Gas lasers typically use helium-neon or carbon dioxide, whereas, crystal lasers (neodymium-doped yttrium aluminium garnet) are used for solid state laser in various laser operations. Fiber lasers offer advantages such as ease of use, high reliability, maintenance-free operation, high integration capability, and high stability, which are expected to be factors driving the market growth.
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Increasing use of laser in the medical sector is leading to rising demand for fiber lasers
Demand for fiber lasers is expected to increase significantly for application in medical surgeries including, cosmetics, hair treatment, skin diseases, laser tattoo removal, aesthetic plastic surgery, and dentistry, among others. This is due to reliable, flexible, and compact advantages offered by fiber lasers. According to the American Society for Aesthetic Plastic Surgery, in 2016, the surgical procedures such as Liposuction, and Eyelid Surgery accounted for 56% of the total expenditures and non-surgical procedures accounted for 44%. Furthermore, the study also suggests that 650,000 procedures of photo-rejuvenation, a non-surgical procedure, was performed, which is around 36% higher as compared to that in 2015. Also, laser tattoo removal treatments increased up to 13% in 2016 than the previous year.
Material processing held the largest share in the fiber laser market in 2016. This is due to increasing adoption of high beam quality with high energy efficiency for material processing applications such as welding, cutting, and etching and this is expected to aid in growth of this market. Extensive use of fiber lasers in industrial laser applications is expected to support fiber laser market growth. Fiber lasers are increasingly being adopted for application in barcodes and traceable labels, diamond industry, scientific research, semi-conductor industries, and 3D printing. Fiber lasers are used for marking or laser engraving process in barcodes and traceable labels application. Furthermore, semiconductor industries widely use fiber laser, to reduce the damage to the object.
Global Fiber Laser Market Regional Insight:
North America is expected hold the largest share in the global fiber laser market over the forecast period. This is due to high adoption of fiber lasers for application in laser operations such as cosmetic surgeries in the region. For instance, according to The International Society of Aesthetic Plastic Surgery (ISAPS), in 2016, total number of cosmetic surgery procedures performed in the U.S. was pegged at 4,217,862, which is 17.9% of all the cosmetic surgery procedures performed, globally. This is expected to be major factor for growth of the region.
Asia Pacific was the fastest growing fiber laser market in 2016. The market growth is attributed to high presence of electronics manufacturers in this region such as marking electronic epoxy, disk drive flexure welding, battery welding, and sensor welding. According to ZVEI – German Electrical and Electronic Manufacturers’ Association, in 2015, electronics manufacturing sector in Asia accounted for around US$ 3.61 billion with 73% the market share in the global market
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Global Fiber Laser Market Competitive Background:
Key players in the global fiber laser market are TRUMPF, ROFIN-SINAR Technologies Inc., Newport Corporation., IPG Photonics Corporation, Coherent Inc., Calmar Laser Inc., AdValue Photonics, Lumentum Operations LLC, Epilog Lasers Corporation, Fujikura Ltd., Maxphotonics Co. Ltd., and Raycus Fiber Laser Technologies Co. Ltd.
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