The Laser Marking Market is expected to grow at a CAGR of 5.86% . The growth of the amrket is owing to the increasing applications in various End-User Industries and the growth in Investment in R&D leading to better Functionality of Laser markers.
Laser marking functions by using a beam of light focused to mark the surface of a material.Laser marking can be automated and processed at high speeds, simultaneously leaving permanent traceability marks on materials such as steel, titanium, aluminum, copper, ceramic, plastic, glass, wood, paper, and cardboard.
The market growth is expected to be driven by the Fiber Laser. Fiber laser marking machines are used extensively in place of other equipment as they create more efficient light as compared to most lasers. This has led to the introduction of a number of innovative lasers. Videojet Technologies,for instance introduced its innovative Videojet 7340 and 7440 fiber laser marking systems recently.
However, the industry is expected to be directly impacted by the outbreak of the Covid19 pandemic. With major end user segments of laser markers shut down due to the impact of the virus, the growth of the market is expected to be impacted in the shorter run.
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Machine Tools End – User Segment is One of the Major Drivers of the Market
Laser Marking has extensive application in machine tools as it enables permanent alphanumerical details featuring brand name, batch number and other details. Further they enable engraving of batch numbers, manufacturer codes, 1D & 2D bar codes, logos, designs, manufacturer codes, dates of manufacturing, product related information, and other details that facilitates identification and security of the products.
The market has been further augmented by the introduction of turnkey solutions by players like Laserax that launched its new inline laser marketing and laser cleaning solutions that will enables manufacturers to track their product from production to the assembly of the final product.
Further, the introduction of of easy to use, self-contained, table-top laser systems for vector and grayscale marking of machine tools is expected to further augment market growth. Coherent Inc has introduced a machine that has been designed for the engraving of machine tools.
Asia – Pacific is Expected to be the Fastest Growing Market
The rapid expansion of the end user segements are expected to create opportunities for the market in the future. The demand for reliable and efficient packaging technologies in many Asian countries like India, China, Japan, and South Korea has been increasing due to the rising adoption of packaging materials especially in the food and beverage industry. According to the Indian Institute of Packaging further adds that the Indian Packaging market is expected to reach USD 32 billion by 2020, underscoring the need for automation solutions that are expected to be generated by this growth.
Further, the Association of Southeast Asian Nations (ASEAN) countries that includes Malaysia, Indonesia, the Philippines, Thailand, Singapore, Brunei, Cambodia, Myanmar, Laos, and Vietnam has been witnessing increased investment in medical device manufacturing. This is expected to boost adoption of laser marking equipment. Though the investment has slowed down in the past couple of years, but the region is expected to benefit from the US-China Trade war.
The laser marking equipment market landscape is highly competitive . The capital intensive market has many large and medium sized vendors vouching for market sahre. Some of the recent developments of the industry are as follows:-
Nov 2019 – FOBA launched a new marking solution developed for line integration. This new generation of marking lasers are equipped with enhanced line compatibility, ease of installation and usability along with service. The main end user industries where these new generation markers are to be used include electronics manufacturing industry, along with the automotive and medical industry.
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