Global Laser Material Market to Register 5.5% CAGR from 2015 to 2023, Demand for Metal Laser Materials Highest
Driven by considerable demand from the pharmaceuticals, aerospace and defense, and telecommunication industries, the global laser material market is projected to rise from its 2014 valuation of US$1.02 bn to touch US$1.64 bn by 2023, says Transparency Market Research (TMR). This translates to a 5.5% CAGR from 2015 to 2023 for the global laser material market. Sized in terms of volume, the market for laser materials stood at 274.7 kilo tons in 2014, TMR’s report finds. The report, titled ‘ Laser Material Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023 ’, notes that despite the presence of ample growth drivers, the market could be restrained by volatile prices of metals, crude oil, and natural gas. The report also identifies the growing demand for laser products in Asia Pacific as an opportunity worth exploring further. Using data from verifiable sources such as industry trade magazines, paid research databases, trade ...