Laser Plastic Welding Market: Introduction
Transparency Market Research delivers key insights for the laser plastic welding market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2020–2025. In terms of revenue, the global laser plastic welding market is projected to register a CAGR of 8.4% during the forecast period.
Consistent Demand from Automotive Industry to Bolster Market Growth
The amount of plastics used in the automotive industry is consistently rising, as it lowers the manufacturing cost and reduces the weight of vehicles. Manufacturers operating the automotive industry used laser plastic welding frequently to join interior and exterior plastic components, as it provides excellent joint quality and precise welding. Furthermore, strong joints formed with laser plastic welding with high precision and accuracy that do not affect the sensitive components close to the welding area, resulting into a high requirement of the laser plastic welding in the automotive industry. In addition, shifting inclination of consumers towards highly aesthetic automotive vehicles across continents is creating ample amount of opportunities for manufacturers. Besides this, the rising purchasing capability of an average person to buy vehicles is one of the vital factors fueling the expansion of the laser plastic welding market.
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Plastic to Metal Joining Welding Gaining Momentum in Global Market
Metallic industrial products are robust and ductile, and plastics are lightweight and easily formable. A variety of plastic and metallic products is used in industries frequently, owing to their significant properties. The importance of joining metal and plastic has witnessed a tremendous rise in recent years. There are various methods such as rivets, adhesives, and others to join these plastics and metals. However, the current trend of laser-assisted metal plastic joining (LAMP) is gaining traction across the globe, owing to its numerous applications such as short time joining, stable joint for a long time, easy automation, and no requirement of adhesives and rivets. Furthermore, the laser-assisted metal plastic joining (LAMP) method is applicable to join two dissimilar metals with a plastic intermediate sheet, to prevent local electric-physical corrosion in metals. The rising adoption of laser-assisted metal plastic joining (LAMP) method over the other conventional method to join metal and plastic product effectively is projected to boost the laser plastics welding market growth during the forecast period.
Lucrative Opportunities in Emerging Countries
Laser plastic welding systems and techniques are predominantly used in various key industries such as electrical & electronics, healthcare, automotive, and others. The demand for advanced laser plastic welding systems in these industries is consistently rising due to its ability to weld 3D and complex shapes. Prominent end-use industries such as healthcare and electrical & electronics have witnessed a healthy growth over the past 10 years, and this is anticipated to continue during the forecast period. Moreover, the market growth is not just in mature markets of North America and European countries, but also in fast-growing and developing countries such as China and India. Rapid penetration of healthcare and electronics industries in these countries is likely to create a positive impact on the demand for laser plastic welding machines in the upcoming years.
Key Players in Laser Plastics Welding Market
Prominent players operating in the global laser plastic welding market accounts for a substantial portion of the market share. Key players are adopting inorganic growth strategies to expand into new geographies. Recently, LPKF Laser & Electronics AG, one of the leading players operating in the laser plastic market has introduced PowerWeld 3D 8000 and laser plastic welding machine for mass production of small parts. Some of the leading players in the laser plastic welding market are TRUMPF GmbH + Co. KG, Han's Laser Technology Industry Group Co., Nippon Avionics Co., Ltd., Jenoptik AG, Rofin Sinar Technologies Inc., Amada Miyachi Co. Ltd., Bielomatik Leuze GmbH + Co. KG, LPKF Laser & Electronics AG, DILAS Diodelaser GmbH, Leister Technologies AG and Dukane IAS LLC.
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Companies Rely on Inorganic Growth Strategies to Improve Market Share
Apart from focusing on improving the performance and quality of their welds, companies operating in the laser plastic welding market are also inclined toward expanding their market share by relying on inorganic growth strategies such as mergers & acquisitions. In addition, companies are also focusing on expanding their product portfolio to improve their position in the laser plastic welding market landscape. For instance, in June 2019, Dukane enhanced its laser plastic welding portfolio by acquiring the Blackhawk Technology Group. Dukane further announced that the acquisition of Blackhawk Technology would play an important role in improving its position in the market. The move will further strengthen the company’s product portfolio, which finds application in a host of industrial sectors.
While inorganic growth strategies are likely to gain considerable momentum, multiple companies are also expected to focus on introducing cutting-edge technologies to improve the quality of their laser plastic welds. For instance, in July 2017, Trumpf GmbH announced that the company is integrating EHLA– a new technology that is faster and offers greater efficiency than conventional laser deposition welding.
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