Laser Cutting Tools for Flexible AMOLEDs Market - Forecast(2021 - 2026)
Laser Cutting Tools for Flexible AMOLEDs Market Overview
The Global market for Laser Cutting Tools for Flexible AMOLEDs is forecast to reach $1.76 billion by 2025, growing at a CAGR of 4.25% from 2020 to 2025. Higher performance along with rising demands from automotive industry are the major driving factors propelling the market demands for laser cutting tools market. Moreover, rising use in demanding applications such as smartphones, smart wearable and many others are also helping in fuelling the Laser Cutting Tools for Flexible AMOLEDs market.
Key Takeaways
- Ultra short pulse lasers had been facing major demands in the laser cutting tools market due to their capabilities of offering high accuracy and precision.
- Major players such as LG Electronics and BOE Technology Group Co. Ltd. have helped APAC towards major growth in laser cutting tools for flexible AMOLEDs market.
- Increasing demand from automotive sector along with performance improvements are acting as major drivers in the growth of laser cutting tools for flexible AMOLEDs market.
Laser Type - Segment Analysis
Based on laser type, ultra short pulse lasers are seen dominating the laser cutting tools for flexible AMOLEDs market. Adoption of ultra-pulse lasers is growing as its operation under high repetition rates helps in improving throughput along with quality. This causes its high usage in composition process for complex OLED display structures. Ultra pulse lasers provides features like enhanced accuracy, high process precision and many others which contributes towards its high growth in the market. Moreover, these features help in reducing overall time causing their rising deployments in various applications. Usage of such lasers helps in increasing productivity standards due to its high efficiency, which causes the market demand to rise significantly.
Geography - Segment Analysis
Global Laser cutting tools for flexible AMOLEDs market is expected to be dominated by APAC region during the forecast period from 2020 to 2025. Rising technological advancements and growing automotive industries are acting as major drivers for the growth of laser cutting tools for flexible AMOLEDs market. Presence of key players such as LG Electronics, BOE Technology Group Co. Ltd. and Amada Co. Ltd. has been also helping in promoting the market growth in this region.
Drivers – Laser Cutting Tools for Flexible AMOLEDs Market
- Improved performance
High cutting performance of these tools is acting as a major driver towards the market growth of laser cutting tools creating deployments across various industry verticals. Higher precision levels and edge quality can be achieved easily with the help of laser cutting tools unlike the traditional ones. Their capability of cutting precise complex structures at high speeds are causing high demands for laser cutting tools for flexible AMOLEDs as it improves flexibility. These tools offer repeatable use due to its low wear and tear, thus making it highly economical. This ultimately helps in providing optimised performance as it leads to increased productivity, thus causing major demands by various demanding sectors.
- Increasing demand from automotive sector
Rising demand by automotive industry is acting as a major driver towards the growth of laser cutting tools for flexible AMOLEDs market. Since designing of automobile parts and components is a complicated process, laser cutting tools are increasingly adopted by the manufacturers. Moreover, usage of laser cutting tools are growing in the automotive sector due to its capability of cutting smooth and highly precised crucial parts along with lowering the manpower demand, thus allowing the companies to save costs. These tools help the automobile manufacturers in melting the edges more quickly, thus acting as a reliable and efficient tool for automobile industry.
Challenges – Laser Cutting Tools for Flexible AMOLEDs Market
- Higher costs
The major challenge faced by laser cutting tools for flexible AMOLEDs market is the high associated costs. Rapid technological advancements like improving tool designs, optimising cutting speeds and many others are eventually causing higher costs, thus hampering the market demand of laser cutting tools. Moreover, laser cutting of plastic components incur additional costs as it generates harmful and toxic gases while getting exposed with heat. This creates the need for a ventilated room to absorb the released gases during cutting process which are expensive. This is a major reason which is restraining the further growth of laser cutting tools for flexible AMOLEDs market.
Market Landscape
Partnerships and acquisitions along with product launches are the key strategies of the players in the Laser Cutting Tools for Flexible AMOLEDs Market. The major key players in the Laser Cutting Tools for Flexible AMOLEDs Market include LG Electronics, BOE Technology Group Co. Ltd., Coherent Inc., Epilog Laser, TRUMPF Group, Amada Co.Ltd., IPG Photonics, Jenoptik Laser, Bystronic Inc. and Mazak Optonics Corporation.
Partnerships/Product Launches/Acquisition
- In May 2019, Bystronic had launched Bystar Fiber laser cutting machine with deployment for a broad spectrum of applications. This machine was equipped with a 12 kW fiber laser and a new designed cutting head which provided Beam shaper option, thus offering a consistent cutting quality up to 1.125 inches on different materials. With 12 kw laser , this laser cutting machine improves the average cutting speeds upto 20 %as compared to the earlier available product, thus offering higher productivity with lower costs per part.
- In April 2019, Summa had introduced L1810 laser cutting system in order to benefit various industry verticals. This new cutter was equipped with a 1.8 m wide flatbed and was part of Summa L series. This cutting system offered enhanced productivity with increased cutting quality.
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