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The laser materials industry is fragmented owing to the presence of various industry players operating in the market. Various laser material industry players are working on forming strategic partnerships, which will help them in driving the revenue and increasing their market presence.
Companies associated with laser materials are collaborating by forming joint ventures and are also working on developing research & development capabilities, which will help them in gaining a stronger foothold in the market. Laser materials have tremendous opportunities as lasers are practically utilized in almost every industry. The growing laser industry will have a positive impact on the laser materials market during the projected period.
Various players associated with the laser materials market are
Metal laser materials market size is anticipated to exceed USD 1.1 billion until 2028 driven by the surging product usage in the manufacturing processes of electric components, semiconductors, and laser diode casing of laser.
Laser materials market is slated to achieve $2 billion by 2028 and is estimated to grow at a CAGR of 5.8% between 2022 and 2028 owing to the increasing endeavor of countries towards the modernization of their militaries.
Major companies across the laser materials industry comprise Morgan Advanced Materials, Dow Chemical Company, CermaTec GmbH, Mitsubishi Chemical Holdings Corporation, Murata Manufacturing, Universal Laser Systems, Anglo American, and others.
Asia Pacific laser materials industry value is expected to cross USD 1.05 billion by 2028 considering the increasing healthcare expenditure and changing demographics in the countries of China and India.