Explosive Surge Expected in Fiber Laser Market as Demand Soars for High
The global fibre laser market is expected to be worth US$ 3.1 billion in 2021 and to grow at an 11.1% CAGR between 2021 and 2031.
The rare earth elements erbium, neodymium, ytterbium, praseodymium, thulium, dysprosium, and holmium are used in fibre lasers. Previously, carbon dioxide or helium-neon were utilised in gas lasers. In contrast, a number of laser-related activities employ solid state lasers constructed of neodymium-doped yttrium aluminium garnet. Benefits include simplicity of use, improved dependability, lack of maintenance, high stability, and integration possibilities.
Fibre lasers are used in medicine for hair removal, cosmetics, laser tattoo removal, skin conditions, dentistry, and aesthetic plastic surgery. According to the American Society for Aesthetic Plastic Surgery, liposuction and eyelid surgery account for more than half of total costs. Non-surgical procedures represent 44% of the market.
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Material processing makes use of high beam for cutting, welding, and etching. These days, fiber lasers are preferred in barcodes, traceable labels, scientific research, diamond industry, 3D printing, and semi-conductor industries. High power fiber laser is being used in metal cutting operations as an outcome of the unparalleled combination of productivity and precision with higher cost-effectiveness. Future Market Insights has enlisted these facts with insights in its latest market study entitled ‘Fiber Laser Market’.
Key Takeaways from Fiber Laser Market
"With flourishing material processing vertical, the global fiber laser market is bound to grow on an astonishing note in the near future", says an analyst from Future Market Insights.
What does the Report Cover?
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Key Segments Covered In Fiber laser Market Study:
By Laser Type:
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