Laser Cleaning Market Projected To Exceed $800 Million By 2030

News provided by

13 Oct, 2022, 08:30 ET

Share this article

PALM BEACH, Fla., Oct. 13, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - The Global Laser Cleaning Market helps companies across a wide number of industries to increase revenues by extending the life of their facilities. The technique of eliminating material from a solid (or occasionally liquid) surface by irradiating it with a laser beam is known as laser ablation or cleaning. The Global Laser Cleaning Market is being driven by several factors, including the rising adoption of laser cleaning technology, and increased use in the automotive industry, manufacturing plants, and factories. Laser cleaning is a process that uses laser radiation to remove waste or contaminants from a surface, such as carbon, silicon, and rubber. Mechanical lasers have enhanced fundamental cutting and welding applications by being more financially smooth and reactive. Laser cleaning is a cost-effective and ecologically friendly technology that is employed in a variety of businesses throughout the world. Laser cleaning may be divided into two categories. The first way entails removing the entire top layer of the material, whereas the second method entails removing the surface layer. A high-power, extremely short laser pulse is directed towards the to-be-cleaned surface. A report from Verified Market Research projected that the Laser Cleaning Market size was valued at USD 587.18 Million in 2021 and is projected to reach USD 803.28 Million by 2030, growing at a CAGR of 4.10% from 2022 to 2030. Active Companies in the markets today include: Laser Photonics Corporation (NASDAQ: LASE), IPG Photonics Corporation (NASDAQ: IPGP), Lumentum Holdings Inc. (NASDAQ: LITE), Novanta Inc. (NASDAQ: NOVT), AXT, Inc. (NASDAQ: AXTI).

The Verified Market Research report said: "(Laser Cleaning is) a method that's good for the environment. The laser's popularity as a cleaning procedure comes from the various wavelengths that various materials absorb, as well as the strength employed. For example, oxides absorb infrared radiation well, allowing them to be removed off metal surfaces without causing damage to the surface underneath, which nearly never absorbs energy at such wavelengths. As a result, we may use higher energies to remove the oxide quicker since the metal beneath it is unaffected by the laser's action and does not absorb energy. The Global Laser Cleaning Market is expected to grow during the forecasted period due to safe & less hazardous, and the applications like industrial usage, restoration, conservation as well as increased use in the automotive industry. Moreover, manufacturing plants and factories for cutting, welding, and marking of products are the major drivers of market growth."

Laser Photonics Corporation (NASDAQ: LASE) BREAKING NEWS: Laser Photonics Announces Implementation of First CleanTech Handheld Laser Blasting System for Coca Cola - Laser Photonics Corporation ("LPC"), a leading global industrial developer of Cleantech laser systems for laser cleaning and other materials applications, today announced that Coca Cola recently completed the implementation of its first CleanTech Handheld Laser Blasting system in its manufacturing facilities.

Wayne Tupuola, chief executive officer of Laser Photonics, commented: "Coca Cola's use of our CleanTech Handheld Laser Blasting system in one of its many manufacturing plants is yet another proven use case for our technology. Our system allows them to reduce the preparation time and increase throughput speeds. Additionally, by removing corrosion from its plastic bottle molds, we are helping increase plastic bottle manufacturing yields and expanding the life of the molds used in this process. With our foot in the door, we can now focus on further penetrating similar and new use cases within the organization."

The CleanTech Handheld LPC-50CTH Laser is an air-cooled pulse laser system, perfect for roughing and finishing nearly any surface. Super compact, the LPC-50CTH is designed as an entry-level laser cleaning and surface treatment system for small areas requiring delicate cleaning, de-painting, and other surface preparation operations. Microprocessor controlled and with no need for a PC, the system is instantly ready when the key is turned ON. The touch screen allows you to choose among five pre-designed cleaning patterns. The system's heavy-duty industrial design is based on years of experience building Hand Held Lasers for marking and engraving applications. For more information on the LPC-50CTH, click here https://www.laserphotonics.com/handheld-laser-cleaning-systems/cleantech-lpc-50cth CONTINUED… Read this full release for Laser Photonics at: https://www.laserphotonics.com/news-information

Other recent developments in the markets include:

IPG Photonics Corporation (NASDAQ: IPGP) recently announced that it has sold its telecom transmission product lines, comprised of optical transceivers and coherent components, to Lumentum (NASDAQ: LITE). The divested activities include the former Menara Networks and a subsidiary in Brazil.

"While we have made good progress in developing fundamental technologies in our telecom transmission business, our ability to scale these product lines would require a step-up in investment that we believe would be better spent on our core materials processing and adjacent markets. After an in-depth review, we have determined that participation in the broader telecom market is non-core to IPG's strategy. Our strategy is to remain focused on revenue diversification and growth opportunities in markets where we can increase our value proposition to customers by delivering advanced laser processing and technology solutions. We are exploring substantial new markets and applications where fiber lasers are replacing existing laser and non-laser technologies by improving efficiency, productivity, or enabling technological breakthroughs for our customers. We would like to thank our telecom transmission employees for their contributions and wish them success with Lumentum, a market leader in optical communications," said Dr. Eugene Scherbakov, IPG Photonics' Chief Executive Officer.

Lumentum Holdings Inc. (NASDAQ: LITE), a market-leading designer and manufacturer of innovative optical and photonic products, recently announced that it has expanded its manufacturing operations and advanced R&D in Škoflijica, Slovenia for specialty optical fibers that are essential components of many Lumentum products. This expansion more than doubles Lumentum's manufacturing and R&D footprint in Slovenia.

"I am very excited about the manufacturing and advanced R&D expansion in Slovenia," said Alex Schoenfelder, senior vice president and general manager of commercial lasers. "Specialty optical fibers are a key enabling component for industrial fiber lasers and increasingly for other new applications in the industrial, life sciences, and communications markets. Our team in Slovenia has given us unique fibers that enable differentiated performance and cost."

Novanta Inc. (NASDAQ: NOVT), a trusted technology partner to medical and advanced technology equipment manufacturers, recently said it will release its third quarter 2022 results on Tuesday, November 8, 2022.

The Company will host a conference call on Tuesday, November 8, 2022, at 10:00 a.m. ET to discuss these results. To access the call, please dial (888) 346-3959 before the scheduled conference call time. Alternatively, the conference call can be accessed online via a live webcast on the Events & Presentations page of the Investors section of the Company's website at www.novanta.com.

A replay of the audio webcast will be available approximately three hours after the conclusion of the call on the Events & Presentations page of the Investors section of the Company's website at www.novanta.com. The replay will remain available until Monday, January 02, 2023.

AXT, Inc. (NASDAQ: AXTI) recently announced a preliminary revenue range for its third quarter, ended September 30, 2022. AXT's full financial results for the third quarter of 2022 are not yet available.

AXT expects preliminary revenue for the third quarter of 2022 to be in the range of $34 to $35 million, below the company's previously stated guidance of $39 million to $41 million provided on July 28, 2022. The preliminary revenue range for the third quarter of 2022 is primarily attributable to weakening macroeconomic conditions, particularly in the demand environment in China.

"Though we continue to feel confident about our participation in a number of exciting technology trends and Tier-1 opportunities, our business is not immune to the effects throughout the supply chain of a deteriorating macroeconomic environment. We are disappointed by the impact to our near-term growth, but we remain confident in our strategy and business opportunity across our key markets," said Morris Young, chief executive officer.

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty six hundred dollars for news coverage of the current press releases issued by Laser Photonics Corporation by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:Media Contact email: [email protected] Telephone: +1(561)325-8757

SOURCE FinancialNewsMedia.com